Common use of Allocations for Tax Purposes Clause in Contracts

Allocations for Tax Purposes. All allocations for federal income tax purposes shall be consistent with all allocations in this Section 5.1, except as otherwise required by Section 704(c) of the Code and Regulations Section 1.704-1(b)(4). The General Partner shall have the authority to elect the method to be used by the Partnership for allocating items of income, gain, and expense as required by Section 704(c) of the Code including a method that may result in a Partner receiving a disproportionately larger share of the Partnership tax depreciation deductions, and such election shall be binding on all Partners.

Allocations for Tax Purposes. All allocations of income, Profit, gain, Loss, credit and expense (and all items contained therein) for federal income tax purposes shall be consistent with identical to all allocations of such items set forth in this Section 5.15.01, except as otherwise required by Section 704(c) of the Code and Regulations Section 1.704-1(b)(4). The With respect to properties acquired by the Partnership, the General Partner shall have the authority to elect the method to be used by the Partnership for allocating items of income, gain, gain and expense as required by Section 704(c) of the Code including a method that may result in a Partner receiving a disproportionately larger share of the Partnership tax depreciation deductionswith respect to such properties, and such election shall be binding on all Partners.

Allocations for Tax Purposes. All allocations for federal income tax purposes shall be consistent with all allocations in this Section 5.1, except as otherwise required by Section 704(c) of the Code and Regulations Section 1.704-1(b)(4). The General Partner Managing Member shall have the authority to elect the method to be used by the Partnership Company for allocating items of income, gain, and expense as required by Section 704(c) of the Code including a method that may result in a Partner Member receiving a disproportionately larger share of the Partnership Company tax depreciation deductions, and such election shall be binding on all PartnersMembers.