Elimination of Book/Tax Disparities. Taxable income and tax deductions shall be shared among the Partners so as to take into account the variation between the Book Value and the adjusted tax basis of each property at the time it is contributed to the Partnership and at each time it is revalued.
Appears in 12 contracts
Samples: Lease Agreement (Equistar Chemicals Lp), Lease Agreement (Millennium Chemicals Inc), Agreement (Millennium Chemicals Inc)
Elimination of Book/Tax Disparities. Taxable income and tax ----------------------------------- deductions shall be shared among the Partners so as to take into account the variation between the Book Value and the adjusted tax basis of each property at the time it is contributed to the Partnership and at each time it is revalued.
Appears in 2 contracts
Samples: Lease Agreement (Lyondell Chemical Co), Lease Agreement (Equistar Chemicals Lp)
Elimination of Book/Tax Disparities. Taxable income and tax deductions shall be shared among the Partners so as to take into account the variation between the Book Value and the adjusted tax basis of each property at the time it is contributed to the Partnership and at each time it is revaluedrevalued when any other cash or property is contributed to the Partnership.
Appears in 1 contract
Samples: Lyondell Petrochemical Co
Elimination of Book/Tax Disparities. Taxable income and tax deductions ----------------------------------- shall be shared among the Partners so as to take into account the variation between the Book Value and the adjusted tax basis of each property at the time it is contributed to the Partnership and at each time it is revalued.
Appears in 1 contract
