Examples of Monthly Closing Election in a sentence
The Series Pool, the Sponsor and each Holder of Certificates (by their purchase of Certificates) agrees to comply with any special tax reporting requirements applicable to the Monthly Closing Election.
It is the intention of the parties hereto that Sections 10-12 of this Series Trust Agreement fulfill the requirements of making a Monthly Closing Election under Revenue Procedure 2003-84 and shall be interpreted consistently therewith.
Xxxxxxx Mac will have the discretion to make, or if necessary, to instruct the Administrator to take the necessary steps to make, a Monthly Closing Election on behalf of the Series Pool, in which case the Sponsor and each Holder of Certificates (by their purchase of Certificates) will be deemed to have consented to the Monthly Closing Election.
Fxxxxxx Mac will have the discretion to make, or if necessary, to instruct the Administrator to take the necessary steps to make, a Monthly Closing Election on behalf of the Series Pool, in which case the Sponsor and each Holder of Certificates (by their purchase of Certificates) will be deemed to have consented to the Monthly Closing Election.
The test date is the first day of the month for which the Monthly Closing Election is effective..02 Eligible Partner.
An eligible partnership may make a Monthly Closing Election by fil- ing a statement with the appropriate ser- vice center.
There- fore, no new Monthly Closing Consent is required when a consenting partner sells one interest in an electing partnership and acquires another interest in the same part- nership at a time when the partnership continues to have its Monthly Closing Election in effect.
Retaliation includes, but is not limited to, any form of intimidation, reprisal, or harassment.
The partnership’s Monthly Closing Election is effective no later than the second calendar month after the cal- endar month in which the partner acquires the partnership interest.
SCOPEThis revenue procedure applies to eli- gible partnerships (described in section3.01 of this revenue procedure) that elect to close their books monthly (the Monthly Closing Election) and to eligible partners (described in section 3.02 of this revenue procedure) that consent to take into account their distributive shares of part- nership income on a monthly basis (the Monthly Closing Consent)..01 Eligible Partnership.