Income Tax Elections. In the event of a distribution of property made in the manner provided under Section 734 of the Code, or in the event of a transfer of any Partnership Interest permitted by this Agreement made in the manner provided in Section 743 of the Code, the General Partner, on behalf of the Partnership, may, but shall not be required to, file an election under Section 754 of the Code in accordance with the procedures set forth in the applicable regulations promulgated thereunder.
Appears in 123 contracts
Samples: Agreement (Carrabba's/Colorado-I, Limited Partnership), Agreement of Limited Partnership (Carrabba's/Colorado-I, Limited Partnership), Agreement (Carrabba's/Colorado-I, Limited Partnership)
Income Tax Elections. In the event of a distribution of property made in the manner provided under Section 734 of the Code, or in the event of a transfer of any Partnership Joint Venture Interest permitted by this Agreement made in the manner provided in Section 743 of the Code, the General PartnerOutback, on behalf of the PartnershipJoint Venture, may, but shall not be required to, file an election under Section 754 of the Code in accordance with the procedures set forth in the applicable regulations promulgated thereunder.
Appears in 3 contracts
Samples: Joint Venture Agreement, Joint Venture Agreement (Bloomin' Brands, Inc.), Joint Venture Agreement (Outback Steakhouse Inc)
