Common use of Allocations Respecting Section 704(c) Revaluations Clause in Contracts

Allocations Respecting Section 704(c) Revaluations. Notwithstanding Section 6.4.1 hereof, Tax Items with respect to Property whose Gross Asset Value varies from its adjusted tax basis in the hands of the Partnership shall be allocated among the Holders of Partnership Units for income tax purposes pursuant to Regulations promulgated under Code Section 704(c) so as to take into account such variation. The Partnership shall account for such variation under any permitted method chosen by the General Partner in its sole discretion.

Allocations Respecting Section 704(c) Revaluations. Notwithstanding Section 6.4.1 hereof, Tax Items with respect to Property whose Gross Asset Value varies from its adjusted tax basis in the hands of the Partnership shall be allocated among the Holders of Partnership Units for income tax purposes pursuant to Regulations promulgated under Code Section 704(c) so as to take into account such variation. The Partnership shall account for such variation under any permitted the traditional method chosen by the General Partner as described in its sole discretionRegulations Section 1.704-3.

Allocations Respecting Section 704(c) Revaluations. Notwithstanding Section 6.4.1 6.4.A hereof, Tax Items with respect to Property whose Gross Asset Value varies from its adjusted tax basis in the hands of the Partnership shall be allocated among the Holders of Partnership Units for income tax purposes pursuant to Regulations promulgated under Code Section 704(c) so as to take into account such variation. The Partnership shall account for such variation under any permitted the traditional method chosen by the General Partner as described in its sole discretionRegulations Section 1.704-3.