Depreciation and Elections. A. All elections required or permitted to be made by the Partnership under the Internal Revenue Code shall be made by the Managing Partner.
Depreciation and Elections. 34 9.4 Fiscal Year.....................................................34
Depreciation and Elections. A. With respect to all depreciable assets of the Partnership, the Partnership shall elect to use, as permitted by the provisions of the Code, straight line depreciation methods; however, on the advice of the certified public accountants then serving the Partnership pursuant to Section 9.3 hereof, the Partnership may change to or elect some other method of depreciation so long as such other method is, in the opinion of the certified public accountants, most advantageous to Limited Partners representing a majority in interest of the Capital Contributions of the Limited Partners.
Depreciation and Elections. All elections required or permitted to be made by the Company under the Code shall be made by the Manager.
Depreciation and Elections. With respect to all depreciable assets for the Partnership, the Partnership may elect to use, so far as permitted by these provisions of the Code, accelerated depreciation methods. The General Partner may cause the Partnership to change to or elect some other method of depreciation and the General Partner may, in its sole discretion, cause the Partnership to make all elections required or permitted to be made by the Partnership under the Code and not otherwise expressly provided for in this Agreement, including, without limitation, the election referred to in Section 754 of the Code; provided, however, that if the election referred to in Section 754 is made, the Partnership shall have the right to charge the Partner or Partners benefiting from such election for the Partnership's reasonable expenses in making the accounting adjustments resulting from such election. Each of the Partners will upon request supply the information necessary to give proper effect to such election.
Depreciation and Elections. With respect to any depreciable assets of the Partnership, the Partnership may elect to use, so far as permitted by the provisions of the Code, any depreciation method which is appropriate in the opinion of the General Partner. The Partnership may, in the discretion of the General Partner, make or elect not to make, and may revoke or elect not to revoke, any election permitted or required to be made by the Partnership for federal income or state tax purposes.
Depreciation and Elections. With respect to all depreciable assets of the Partnership, the General Partner on behalf of the Partnership may elect to use any permissible method of depreciation or cost recovery for Federal income tax purposes. The General Partner shall have the authority to make any or all permissible elections or other determinations on behalf of the Partnership under the Code or other Federal, state or local tax laws. However, the partnership will not make an election under Section 754 of the Code to adjust the basis of Partnership property on the transfer of a Partnership interest unless the General Partner, in its sole discretion, determines that such an election would be in the best interests of the Partnership and all the Limited Partners. In the event of an adjustment to the adjusted basis of any Partnership property under Section 732, Section 734 or Section 743 of the Code, the Capital Accounts of the Partners shall be adjusted as provided in Treasury Regulation Section 1.704-1(b)(2)(iv)(m).
