Common use of Basis Adjustment Clause in Contracts

Basis Adjustment. Upon the transfer of all or part of an interest in the Partnership, at the request of the transferee of the interest the General Partner may, in its sole discretion, cause the Partnership to elect, pursuant to Section 754 of the Code or the corresponding provisions of subsequent law, to adjust the basis of the Partnership properties as provided by Sections 734 and 743 of the Code.

Basis Adjustment. Upon the transfer of all or part of an interest in the Partnership, at the request of the transferee of the interest interest, the General Partner may, in its sole discretion, with the consent of all of the Partners may cause the Partnership to elect, pursuant to Section 754 of the Code or the corresponding provisions of subsequent lawCode, to adjust the basis of the Partnership properties as provided by Sections in Section 734 and 743 of the Code. The Partnership may require the requesting transferee to bear all of the accounting and administrative costs as a condition to its consent.

Basis Adjustment. Upon the transfer of all or part of an interest in the Partnership, at the request of the transferee of the interest interest, the General Partner may, in its sole discretion, cause the Partnership to elect, pursuant to Section 754 of the Code or the corresponding provisions of subsequent law, to adjust the basis of the Partnership properties as provided by Sections 734 and 743 of the Code.

Basis Adjustment. Upon In the transfer event of a Transfer of all or part of an the interest of a Partner in the PartnershipPartnership pursuant to Section 10.02 hereof, at the request of the transferee of the interest the General Partner maytransferee, in its sole discretion, cause the Partnership to shall elect, pursuant to Section 754 of the Code Code, or the corresponding provisions provision of subsequent law, to adjust the basis of the Partnership properties property as provided by Sections 734 and 743 of the Code.