Partnership Property definition

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.

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Partnership Property means all the property, real and personal, at any time owned by the Partnership.

Partnership Property means all real and personal property acquired by the Partnership and any improvements thereto, and shall include both tangible and intangible property.

Examples of Partnership Property in a sentence

• The Partners, by execution of this Agreement, waive their respective rights to partition of the Partnership Property.

• Upon the approval of the General Partners, the Partnership shall file an election under Code Section 754 to adjust the tax basis of the Partnership Property, with respect to any distribution of Partnership Property to a Partner permitted by this Agreement or a Transfer of a Partnership Interest in accordance with the terms of this Agreement, in accordance with Code Sections 734(b) and 743(b).

• Solely for the purposes of determining the balances of the Partner’s Capital Accounts at that time, any Partnership Property that is distributed in kind shall be treated as though such Partnership Property were sold for its Fair Market Value as of the date of distribution, as determined by an Independent Appraiser.

• In particular, the Partnership is initially designed as a vehicle for consolidating the management of the Partnership Property, providing for the succession of such management, and enhancing total returns from the Partnership Property.

• As provided in Section 12.4, each Partner expressly waives any right to partition the Partnership Property which it may otherwise have.

More Definitions of Partnership Property

Partnership Property means all direct and indirect interests in real and personal property owned by the Partnership from time to time and shall include both tangible and intangible property (including cash).

Partnership Property means Leases and Wells in which the Partnership owns an undivided interest.

Partnership Property means all cash, securities and other property of any character description held by the Partnership from time to time.

Partnership Property means property to which the partnership is beneficially entitled, whether or not the property is held in the partnership name;

Partnership Property means any property and right or interest in a limited partnership –

Partnership Property means all property owned or acquired by the Partnership.

Partnership Property means any and all assets and real, personal, tangible and intangible property owned by the Partnership.