Common use of Certain Book/Tax Differences Clause in Contracts

Certain Book/Tax Differences. In accordance with Section 704(c) of the Code and the applicable Regulations thereunder, income, gain, loss and deduction with respect to any Partnership Asset contributed to the capital of the Partnership, or with respect to any Partnership Asset which has a Book Basis different than its adjusted tax basis, shall, solely for income tax purposes, be allocated among the Partners so as to take into account any variation between the adjusted tax basis of such Partnership Asset to the Partnership and the Book Basis of such Partnership Asset.

Appears in 2 contracts

Samples: EES Leasing, LLC, Limited Partnership Agreement (Hanover Compression Lp)

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Certain Book/Tax Differences. In accordance with Section 704(c704(g) of the Code and the applicable Regulations thereunder, income, gain, loss and deduction with respect to any Partnership Asset contributed to the capital of the Partnership, or with respect to any Partnership Asset which has a Book Basis different than its adjusted tax basis, shall, solely for income tax purposes, be allocated among the Partners so as to take into account any variation between the adjusted tax basis of such Partnership Asset to the Partnership and the Book Basis of such Partnership Asset.

Appears in 2 contracts

Samples: Limited Partnership Agreement (Exterran Energy Solutions, L.P.), Limited Partnership Agreement (Exterran Energy Solutions, L.P.)

Certain Book/Tax Differences. In accordance with Section 704(c) ---------------------------- -------------- of the Code and the applicable Regulations thereunder, income, gain, loss and deduction with respect to any Partnership Asset contributed to the capital of the Partnership, or with respect to any Partnership Asset which has a Book Basis different than its adjusted tax basis, shall, solely for income tax purposes, be allocated among the Partners so as to take into account any variation between the adjusted tax basis of such Partnership Asset to the Partnership and the Book Basis of such Partnership Asset.

Appears in 1 contract

Samples: Limited Partnership Agreement (Hanover Compressor Co /)

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Certain Book/Tax Differences. In accordance with Section ---------------------------- ------- 704(c) of the Code and the applicable Regulations thereunder, income, gain, loss ------ and deduction with respect to any Partnership Asset contributed to the capital of the Partnership, or with respect to any Partnership Asset which has a Book Basis different than its adjusted tax basis, shall, solely for income tax purposes, be allocated among the Partners so as to take into account any variation between the adjusted tax basis of such Partnership Asset to the Partnership and the Book Basis of such Partnership Asset.

Appears in 1 contract

Samples: Limited Partnership Agreement (Hanover Compressor Co /)

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