Common use of Adjustment of Basis of Partnership Property Clause in Contracts

Adjustment of Basis of Partnership Property. In the event of a distribution of Partnership property to a Limited Partner or an assignment or other transfer (including by reason of death) of all or part of the interest of a Limited Partner in the Partnership, at the request of a Limited Partner, the General Partner, in its discretion, may cause the Partnership to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Partnership property as provided by Section 734 and 743 of the Code.

Adjustment of Basis of Partnership Property. In --------------------------------------------------------- the event of a distribution of Partnership property to a Limited Partner or an assignment or other transfer (including by reason of death) of all or part of the interest of a Limited Partner in the PartnershipPart- nership, at the request of a Limited Partner, the General Partner, in its his discretion, may cause the Partnership to elect, pursuant to Section Sec- tion 754 of the Code, or the corresponding provision of subsequent subse- quent law, to adjust the basis of the Partnership property as provided by Section Sections 734 and 743 of the Code.

Adjustment of Basis of Partnership Property. In the event of a distribution of Partnership the Partnership’s property to a Limited Partner or an assignment or other transfer (including by reason of death) of all or part of the interest Interest of a Limited Partner in the Partnership, at the request of a Limited Partner, the General PartnerPartner may, in its discretion, may cause the Partnership to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Partnership Partnership’s property as provided by Section Sections 734 and 743 of the Code.

Adjustment of Basis of Partnership Property. In the event of a distribution of Partnership property to a Limited Partner or an assignment or other transfer (including by reason of death) of all or part of the interest of a Limited Partner in the Partnership, at the request of a Limited Partner, the General Partner, in its sole and absolute discretion, may cause the Partnership to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Partnership property as provided by Section Sections 734 and 743 of the Code.

Adjustment of Basis of Partnership Property. In the event of a distribution of Partnership property to a Limited Partner or an assignment or other transfer (including by reason of death) of all or part of the interest of a Limited Partner in the Partnership, at the request of a Limited Partner, the General Partner, in its discretion, may cause the Partnership to elect, pursuant to Section 754 of the Code, or the corresponding provision of subsequent law, to adjust the basis of the Partnership property as provided by Section Sections 734 and 743 of the Code.

Adjustment of Basis of Partnership Property. In the event of a distribution of Partnership the Partnership's property to a Limited Partner or an assignment or other transfer (including by reason of death) of all or part of the interest of a Limited Partner in the Partnership, at the request of a Limited Partner, the General Partner, in its sole and absolute discretion, may cause the Partnership to elect, pursuant to Section 754 of the Code, Code (or the any corresponding provision of subsequent law), to adjust the basis of the Partnership Partnership's property as provided by Section Sections 734 and 743 of the Code.