The Partnership definition
Examples of The Partnership in a sentence
The Partnership Representative may apportion any taxes (and related interest, penalties, claims, liabilities, and expenses) imposed on the Trust pursuant to the New Partnership Audit Procedures among the Beneficial Owners and may withhold any such amounts from distributions made to any such Beneficial Owner.
The Partnership Representative may make a valid election under Section 6226 of the Code (and any analogous or similar provision of Law).
The Partnership Representative is authorized and required to represent the Trust in connection with all examinations of the Trust’s affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend Trust funds for professional services and costs associated therewith.
The Partnership shall take all such action as promptly as practicable after the satisfaction of the conditions in this Article 9 to the admission of such Person as a Limited Partner of the Partnership.
The Partnership shall have perpetual existence unless sooner dissolved and its affairs wound up as provided in Article X.