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.