Common use of Adjustment of Tax Basis Clause in Contracts

Adjustment of Tax Basis. Upon the transfer of an interest in the Partnership, the Partnership may, at the sole discretion of the General Partners, elect, pursuant to Section 754 of the Internal Revenue Code of 1954, as amended, to adjust the basis of the Partnership property as allowed by Section 734(b) and 743(b) thereof. The election, if made, will be filed with the Partnership information income tax return for the first taxable year to which the election applies.

Adjustment of Tax Basis. Upon the transfer of an interest in the Partnership, the Partnership may, at the sole discretion of the General PartnersPartner, elect, pursuant to Section 754 of the Internal Revenue Code of 1954, as amendedCode, to adjust the basis of the Partnership property as allowed by Section Sections 734(b) and 743(b743(c) thereof. The election, if made, will be filed with the Partnership information income tax return for the first taxable year to which the election applies.

Adjustment of Tax Basis. Upon the transfer of an interest in the Partnership, the Partnership may, at in the sole discretion of the General Partners, elect, pursuant to Section 754 of the Internal Revenue Code of 1954, as amended, to adjust the basis of the Partnership property as allowed by Section Sections 734(b) and 743(b) thereof. The election, if made, will be filed with the Partnership information income tax return for the first taxable year to which the election applies.

Adjustment of Tax Basis. Upon the transfer of an interest in the Partnership, the The Partnership may, at in the sole discretion of the General PartnersPartner, elect, pursuant to Section 754 of the Internal Revenue Code of 1954, as amended, Code; to adjust the basis of the Partnership property as allowed by Section 734(bCode Sections 734 (b) and 743(b) thereof743 (b). The This election, if made, will be filed with the Partnership information income tax return for the first taxable year to which the election applies.

Adjustment of Tax Basis. Upon the transfer of an interest in the Partnership, the Partnership may, at in the sole discretion of the General PartnersPartner(s), elect, pursuant to Section 754 of the Internal Revenue Code of 1954, as amended, to adjust the basis of the Partnership property as allowed by Section Sections 734(b) and 743(b) thereof. The election, if made, will be filed with the Partnership information income tax return for the first taxable year to which the election applies.