Partnership Items definition

Partnership Items shall have the meaning set forth in Section 10.4(b)(xvi).
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Partnership Items. Is defined in Section 6.5M.
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Partnership Items means items of Partnership income (including Exempt Income), gain, loss, deduction, and nondeductible expenditure, as determined for federal income tax purposes.
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Examples of Partnership Items in a sentence

  • The Regulatory Allocations (as defined below) shall be taken into account in allocating other items of income (including Gross Income), gain, loss, and deduction among the Partners so that, to the extent possible, the cumulative net amount of allocations of Partnership Items under Sections 1 and 2 of this Exhibit C shall be equal to the net amount that would have been allocated to each Partner if the Regulatory Allocations had not occurred.

  • The Regulatory Allocations (as defined below) shall be taken into account in allocating other items of income (including Gross Income), gain, loss, and deduction among the Partners so that, to the extent possible, the cumulative net amount of allocations of Partnership Items under paragraphs 1 and 2 of this Exhibit C shall be equal to the net amount that would have been allocated to each Partner if the Regulatory Allocations had not occurred.

  • The General Partner and its chief executive shall be the "Tax Matters Partner" for purposes of the Tax Treatment of Partnership Items Act of 1982, and shall have the authority to exercise all functions provided for in said Act, or in regulations promulgated thereunder by Treasury, including, but not limited to, the extent permitted by such regulations, the authority to delegate the function of Tax Matters Partner to any other person.

  • Section 3.3 Allocation of Net Income, Net Losses and other Partnership Items .

  • Section 3.3 Allocation of Net Gain and Net Loss and Other Partnership Items.

  • The Tax Matters Partner is authorized to enter into settlement agreements with the Internal Revenue Service on behalf of all Partners with respect to Partnership Items (as defined in Code Section 6231(a)(3)), and the Limited Partners (except if any Limited Partner has filed a statement described in Code Section 6224(c)(3)(B)) agree to be bound by the terms of any settlement agreement entered into by the Tax Matters Partner on behalf of all Partners.

  • The General Partner shall be the “Tax Matters Partner” for purposes of the Tax Treatment of Partnership Items Act of 1982, and shall have the authority to exercise all functions provided for in said Act, or in regulations promulgated thereunder by Treasury, including, but not limited to, the extent permitted by such regulations, the authority to delegate the function of Tax Matters Partner to any other person.

  • It is the intent of the Partners that, to the extent possible, all Regulatory Allocations shall be offset with other Regulatory Allocations or with special allocations of other Partnership Items pursuant to this Section 4.2(f).

Related to Partnership Items

  • Limited Partnership Interest means the ownership interest of a Limited Partner in the Partnership at any particular time, including the right of such Limited Partner to any and all benefits to which such Limited Partner may be entitled as provided in this Agreement and in the Act, together with the obligations of such Limited Partner to comply with all the provisions of this Agreement and of the Act.

  • Partnership Property means any property, real, personal or mixed, or any interest therein or appurtenant thereto which may be owned or acquired by the Partnership.

  • General Partnership Interest means a Partnership Interest held by the General Partner that is a general partnership interest.

  • Partnership Interest means an ownership interest in the Partnership representing a Capital Contribution by either a Limited Partner or the General Partner or the provision of services to or for the benefit of the Partnership by an existing Partner acting in a partner capacity, or by a new Partner acting in a partner capacity or in anticipation of becoming a Partner, and includes any and all benefits to which the holder of such a Partnership Interest may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. A Partnership Interest may be expressed as a number of Partnership Units.

  • Partnership Assets means all assets, whether tangible or intangible and whether real, personal or mixed (including, without limitation, all partnership capital and interest in other partnerships), at any time owned or represented by any Partnership Interest.