Tax Partnership definition

Tax Partnership means the relationship (constituting a tax partnership for federal and applicable state law tax purposes) between the Parties existing pursuant to this Agreement.

Tax Partnership shall have the meaning set forth in Section 15.3.

Tax Partnership has the meaning set forth in Section 10.1.

Examples of Tax Partnership in a sentence

• The accounting year of the Tax Partnership shall be the calendar year.

• For federal and state tax purposes, but for no other purpose, all transactions effected by the Parties with respect to the Designated Property pursuant to the Agreement shall be deemed to have been effected through the Tax Partnership, rather than by the Parties individually, as set out in this Article II.

• On completion of the distribution of Partnership assets as provided in this Agreement, the Tax Partnership shall be considered terminated.

• For purposes of applying the provisions of this Exhibit D, unless the Parties agree otherwise and this Exhibit D is amended to reflect such agreement, (a) all debt financing incurred by a Party shall be for the sole account of that Party and shall not be considered debt financing of the Tax Partnership, and (b) no Tax Partnership asset shall be acquired by assumption of, or taking subject to, any debt financing.

• For purposes of applying the provisions of this Exhibit D, all receipts by any Party in respect of the Designated Property pursuant to the Agreement shall be deemed first to have been received by the Tax Partnership and then to have been distributed to such Party by the Tax Partnership in the manner specified in the Agreement.

More Definitions of Tax Partnership

Tax Partnership has the meaning set forth in Section 6.1.

Tax Partnership is defined in Section 3.23.

Tax Partnership has the meaning set forth in Section 5.14(j).

Tax Partnership shall have the meaning provided in Section 2.4.2 of the Amendment.

Tax Partnership means the arrangement and undertaking evidenced by the COO Agreement.

Tax Partnership has the meaning set forth in the Participation Agreement.

Tax Partnership means each of the (i) Main Pass 270 Tax Partnership Agreement dated March 1, 2015 and relating to the Offshore Operating Agreement dated March 1, 2015 by and among Castex Offshore, Inc. (as Operator) and Petsec Energy Corp, Xxxxxx Oil & Gas Corporation and GOME 1271 LLC; and (ii) South Timbalier 320 Tax Partnership Agreement dated September 15, 2017 and relating to the Offshore Operating Agreement dated September 15, 2017 by and among Xxxxxx Oil & Gas Corporation (as Operator) and W&T Energy VI, LLC et al.