Common use of Tax Election Clause in Contracts

Tax Election. Upon the transfer of an interest in the Partnership or in the event of a distribution of the Partnership’s property, the Partnership may elect, but is not required to elect, pursuant to Section 754 of the Code to adjust the basis of the Partnership’s property as allowed by Sections 734(b) and 743(b) thereof. The General Partner shall have the sole authority and discretion to make such an election. There shall be no requirement that the General Partner make such an election.

Tax Election. Upon the transfer of an interest in the Partnership or in the event of a distribution of the Partnership’s property, the Partnership may electmay, as determined by the General Partner, but is not required to electto, elect pursuant to Section 754 of the Code Code, to adjust the basis of the Partnership’s property as allowed by Sections Section 734(b) and 743(b) thereof. The General Partner shall have the sole authority and discretion to make such an election. There shall be no requirement that the General Partner make such an election.

Tax Election. Upon the transfer of an interest in the Partnership or in the event of a distribution of the Partnership’s property, the Partnership may electGeneral Partner may, but is not required obligated to, cause the Partnership to elect, elect pursuant to Section 754 of the Code Code, to adjust the basis of the Partnership’s property as allowed by Sections 734(b) and 743(b) thereof. The General Partner shall have the sole authority and discretion to make such an election. There shall be no requirement that the General Partner make such an election.

Tax Election. Upon the transfer of an interest in the Partnership or in the event of a distribution of the Partnership’s property, the Partnership may electGeneral Partner in its sole discretion may, but is not required to, cause the Partnership to elect, elect pursuant to Section 754 of the Code Code, to adjust the basis of the Partnership’s property as allowed by Sections Section 734(b) and 743(b) thereof. The General Partner shall have the sole authority and discretion to make such an election. There shall be no requirement that the General Partner make such an election.

Tax Election. Upon the transfer of an interest in the Partnership or in the event of a distribution of the Partnership’s 's property, the Partnership may elect, but is not required to elect, pursuant to Section 754 of the Code to adjust the basis of the Partnership’s 's property as allowed by Sections 734(b) and 743(b) thereof. thereof The General Partner shall have the sole authority and discretion to make such an election. There shall be no requirement that the General Partner make such an election.

Tax Election. Upon the transfer of an interest in the Partnership or in the event of a distribution of the Partnership’s 's property, the Partnership may elect, but is not required to elect, pursuant to Section 754 of the Code to adjust the basis of the Partnership’s 's property as allowed by Sections 734(b) and 743(b) thereof. The General Partner shall have the sole authority and discretion to make such an election. There shall be no requirement that the General Partner make such an election.