Traditional Method definition

Traditional Method means the "traditional method" of making Code Section 704(c) allocations described in Regulations Section 1.704-3(b).

Traditional Method means the “traditional method” of making Code Section 704(c) allocations described in Regulations Section 1.704-3(b).

Traditional Method. Notwithstanding any provision of the Vornado OP Partnership Agreement, Vornado OP shall use the "traditional method" under Regulations ss. 1.704-3(b) for purposes of making all allocations under Section 704(c) of the Code (with no "curative allocations" to offset the effect of a "Ceiling Rule Disparity," as described in Section 7(b) below, except as set forth in Sections 7(c) and 7(d) below) with respect to (i) each of the assets acquired by Vornado OP from SCR in the Merger (including, without limitation, all assets owned by SCR or any direct or indirect Subsidiary of SCR that is treated either as a partnership or as a disregarded entity for federal income tax purposes), except to the extent that Vornado OP expressly would be required to use a different method under an SCR Tax Protection Agreement assumed by Vornado OP pursuant to the Merger Agreement and the affected SCR Partner has not executed an agreement to waive its right to such different method following the Merger. The 704(c) Values of the Protected Properties shall be as determined by agreement between SCR and Vornado OP prior to the effective time of the Merger, or in the absence of such agreement, as determined by Vornado REIT, in its capacity as general partner of Vornado OP, in good faith for purposes of preparing the financial statements of Vornado and Vornado OP reflecting the results of the Merger so long as the outside accountants of Vornado and Vornado OP have approved such financial statements as being in accordance with general accepted accounting procedures. 4/

Examples of Traditional Method in a sentence

• The allocation of such items shall be made pursuant to the "Traditional Method" of Regulation Section 1.704-3(b).

• Subject to the provisions of Section 704(c) of the Code and the Regulations thereunder (which the Partners agree shall be applied using the "Traditional Method"), each Tax Item shall be allocated among the Partners in the same manner as each correlative item of profit or loss, as calculated for book purposes, is allocated to the Partners pursuant to Section 5.1 hereof.

• Simplified Method For Employers In More than One Geographic Area: If elected by the Employer in the Adoption Agreement, the Traditional Method above will be modified by substituting $50,000 for $75,000 in (1) and by disregarding (2).

• The Company shall use the "Traditional Method" of making these allocations as described in Treasury Regulation Section 1.704-3(b).

More Definitions of Traditional Method

Traditional Method standard payments, such as checks or money orders, which requires additional handling & processing will have a fee of $20.00 per transaction and/or $25.00 per transaction for cash; during Covid-19 Pandemic. Please, include fees with rent payments.

Traditional Method has the meaning set forth in Section 5.01(f)(iii).

Traditional Method payments, such as checks, cash or money orders (which requires additional handling) will have a fee of $10.00 per transaction and additional $15.00 per transaction for cash. Include fees with all rent payments. Please write checks with both our names; with the word “or” (i.e.): “ Xxxxxxx or Xxxxx Xxxxxxxx ” Checks and/or Money Orders (with any fees) must be delivered or mailed to: X.X. Xxx 0000, Xxxxx Xxxxx, XX 00000