Common use of CODE SECTION 754 ELECTION Clause in Contracts

CODE SECTION 754 ELECTION. The Management Committee shall, upon the written request of any Member, cause the Company to file an election under Section 754 of the Code and the Treasury Regulations promulgated thereunder to adjust the basis of the Company's assets under Section 734(b) or 743(b) of the Code and a corresponding election under the applicable sections of state and local law.

CODE SECTION 754 ELECTION. The To the extent and at the times provided by law, the Management Committee shallCommittee, upon on behalf of the written request of any MemberCompany, cause the Company may elect in a timely manner pursuant to file an election under Section 754 of the Code and the Treasury Regulations promulgated thereunder pursuant to corresponding provisions of applicable state and local tax laws, to adjust the basis tax bases of the Company's assets under Section 734(b) or 743(b) of the Code Company pursuant to Sections 734 and a corresponding election under 743 of the applicable sections of state and local law.Code. ARTICLE VIII

CODE SECTION 754 ELECTION. The Management Committee shall, upon the written request of any Member, cause the Company to file an election under Section 754 of the Code and the Treasury Regulations promulgated thereunder to adjust the basis of the Company's assets under Section Sections 734(b) or 743(b) of the Code and a corresponding election under the applicable sections of state and local law.