Alternative rule Sample Clauses
An "Alternative rule" clause establishes a different set of procedures or standards that apply in place of the default rules typically governing an agreement or situation. This clause specifies the circumstances under which the alternative rule is triggered and outlines the new requirements or processes that must be followed, such as using a different method for dispute resolution or adjusting timelines for performance. Its core practical function is to provide flexibility and customization, allowing parties to tailor the agreement to better fit their specific needs or to address unique situations not adequately covered by standard rules.
Alternative rule. If the partner- ship is not otherwise required to deter- mine the inventory amount of the in- ventory using the LIFO method (the LIFO value) on the recapture date, the partnership may determine the lookthrough LIFO recapture amount as though the FIFO and LIFO values of the inventory on the recapture date equaled the FIFO and LIFO values of the opening inventory for the partner- ship’s taxable year that includes the recapture date. For this purpose, the opening inventory includes inventory contributed by a partner to the part- nership on or before the recapture date and excludes inventory distributed by the partnership to a partner on or be- fore the recapture date. A partnership that applies the alternative method of this paragraph (c)(4)(iii) to calculate the lookthrough LIFO recapture amount must take into account any adjustments to the partnership’s basis in its LIFO inventory that result from transactions occurring after the start of the partnership’s taxable year and before the end of the recapture date. For example, the lookthrough LIFO re- capture amount must be adjusted to take into account any adjustments to the basis of LIFO inventory during that period under sections 734(b), 737(c), or 751(b).
Alternative rule. With respect to employees with a pension-qualifying salary exceed- ing 10 income base amounts the bank / company and the employee may make an agreement to apply a different pension solution than family pension under Section 12:3.
Alternative rule. For employees with a pension-qualifying salary in excess of 10 income base amounts the bank / company and the employee may instead of the main rule make an agreement for an alternative pension solution regarding salary por- tions between 7.5 and 30 income base amounts. Such agreement may apply for pension purposes only. 9a § — Alternative pay-out of retire- ment pension Retirement pension may be paid out earlier than 65 years of age if the em- ployee so wishes and for the purpose of retirement, subject to the tax regula- tions and insurance conditions in effect from time to time. Due to the change in the payment period, the retirement pension shall be cal- culated according to the pension institution’s actuarial insurance assump- tions.
Alternative rule. For employees with a pension-qualifying salary in excess of 10 income base amounts the bank / company and the employee may instead of the main rule make an agreement for an alternative pension solution regarding salary portions between 7.5 and 30 income base amounts. Such agreement may apply for pension purposes only. Retirement pension may be paid out earlier than 65 years of age if the em- ployee so wishes and for the purpose of retirement, subject to the tax regu- lations and insurance conditions in effect from time to time. Due to the change in the payment period, the retirement pension shall be calculated according to the pension institution’s actuarial insurance assump-
Alternative rule. In certain cases, the adjusted basis of a partner’s inter- est in a partnership may be determined by reference to the partner’s share of the adjusted basis of partnership prop- erty which would be distributable upon termination of the partnership. The al- ternative rule may be used to deter- mine the adjusted basis of a partner’s interest where circumstances are such that the partner cannot practicably apply the general rule set forth in sec- tion 705(a) and paragraph (a) of this section, or where, from a consideration of all the facts, it is, in the opinion of the Commissioner, reasonable to con- clude that the result produced will not vary substantially from the result ob- tainable under the general rule. Where the alternative rule is used, adjust- ments may be necessary in deter- mining the adjusted basis of a partner’s interest in a partnership. Adjustments would be required, for example, in order to reflect in a partner’s share of the adjusted basis of partnership prop- erty any significant discrepancies aris- ing as a result of contributed property, transfers of partnership interests, or distributions of property to the part- ners. The operation of the alternative rules may be illustrated by the fol- lowing examples:
Example 1. The ABC partnership, in which A, B, and C are equal partners, owns various properties with a total adjusted basis of
Example 2. Assume that partner A in exam- ple 1 of this paragraph sells his partnership interest to D for $1,250 at a time when the partnership property with an adjusted basis of $1,500 had appreciated in value to $3,000, and when the partnership also had $750 in cash. The total adjusted basis of all partner- ship property is $2,250 and the value of such property is $3,750. D’s basis for his partner- ship interest is his cost, $1,250. However, his one-third share of the adjusted basis of part- nership property is only $750. Therefore, for the purposes of the alternative rule, D has an adjustment of $500 in determining the basis of his interest. This amount represents the difference between the cost of his partner- ship interest and his share of partnership basis at the time of his purchase. If the part- nership subsequently earns and retains an additional $1,500, its property will have an adjusted basis of $3,750. D’s adjusted basis for his interest under the alternative rule is
Example 3. Assume that BCD partnership in example 2 of this paragraph continues to op- erate. In 1960, D proposes to sell his partner- ...