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. B. Notwithstanding anything to the contrary in this Section 9.3, the Managing Partner shall not be responsible for initiating any change in accounting methods from the methods initially chosen. C. The Managing Partner is hereby designated as the "Tax Matters Partner" under Section 6231(a)(7) of the Internal Revenue Code.
Appears in 8 contracts
Samples: Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies Lp LLP), Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies Lp LLP), Agreement of Registered Limited Liability Limited Partnership (Jones Financial Cos Lp)
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.
B. Notwithstanding anything to the contrary in this Section 9.3, the Managing Partner shall not be responsible for initiating any change in accounting methods from the methods initially chosen.
C. The Managing Partner is hereby designated as the "“Tax Matters Partner" ” under Section 6231(a)(7) of the Internal Revenue Code.
Appears in 2 contracts
Samples: Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies LLLP), Agreement of Registered Limited Liability Limited Partnership (Jones Financial Companies LLLP)
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 General Partner.
B. Notwithstanding anything to the contrary in this Section 9.3, the Managing General Partner shall not be responsible for initiating any change in accounting methods from the methods initially chosen.
C. The Managing General Partner is hereby designated as the "“Tax Matters Partner" ” under Section 6231(a)(7) of the Internal Revenue Code.
Appears in 1 contract
Samples: Agreement of Limited Partnership (Jones Financial Companies LLLP)
