Federal Tax Elections Sample Clauses

Federal Tax Elections. All elections for federal tax purposes, including but not limited to an election to adjust the basis of the assets of the Partnership pursuant to Section 754 of the Code, and the adoption of accelerated depreciation or cost recovery methods required or permitted to be made by the Partnership under the Code shall be determined by Approval by Partnership Vote.
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Federal Tax Elections. The Partnership, in the sole discretion of the General Partner, may make elections for federal tax purposes as follows: (i) In case of a transfer of a Unit, the Partnership, in the sole discretion of the General Partner, may timely elect pursuant to Section 754 of the Code (or corresponding provisions of future law) and pursuant to similar provisions of applicable state or local income tax laws, to adjust the basis of the assets of the Partnership. (ii) The General Partner may elect accelerated depreciation methods under the Code, or may elect straight-line depreciation over a period as long as forty (40) years if, in its sole discretion, the determination of the percentage of tax-exempt Investors becomes too cumbersome. (iii) All other elections required or permitted to be made by the Partnership under the Code shall be made by the General Partner in such manner as will, in its sole opinion, be most advantageous to a Majority of the Investors. The Partnership shall, to the extent permitted by applicable law and regulations, elect to treat as an expense for federal income tax purposes all amounts incurred by it for real estate taxes, interest and other charges which may, in accordance with applicable law and regulations, be considered as expenses.
Federal Tax Elections. The Partnership, in the sole discretion of the General Partners, may make elections for federal tax purposes as follows: (i) In case of a transfer of a Unit, the Partnership, in the sole discretion of the General Partners, may timely elect pursuant to Section 754 of the Code (or corresponding provisions of future law) and pursuant to similar provisions of applicable state or local income tax laws, to adjust the basis of the assets of the Partnership. In such event, any basis adjustment attributable to such election shall be allocated solely to the transferee of the Unit. (ii) The General Partners may elect accelerated depreciation methods under the Code, or may elect straight-line depreciation over a period as long as 45 years if, in their sole discretion, the determination of the percentage of tax-exempt Unitholders becomes too cumbersome. (iii) All other elections required or permitted to be made by the Partnership under the Code shall be made by the General Partners in such manner as will, in their sole opinion, be most advantageous to a majority of the Unitholders. The Partnership shall, to the extent permitted by applicable law and regulations, elect to treat as an expense for federal income tax purposes all amounts incurred by it for real estate taxes, interest and other charges which may, in accordance with applicable law and regulations, be considered as expenses.
Federal Tax Elections. Participant agrees to notify Corporation promptly if Participant makes an election under Code Section 83(b) with respect to the Restricted Stock.
Federal Tax Elections. The Partnership, in the sole discretion of the General Partners, may make elections for federal tax purposes as follows: (i) In case of a transfer of all or part of the Partnership Interest of a Partner, the Partnership, in the absolute discretion of the General Partners, may timely elect pursuant to Section 754 of the Code (or corresponding provisions of future law) and pursuant to similar provisions of applicable state or local income tax laws, to adjust the basis of the assets of the Partnership. In such event, any basis adjustment attributable to such election shall be allocated solely to the transferee. (ii) All other elections, including but not limited to the adoption of accelerated depreciation or cost recovery methods, required or permitted to be made by the Partnership under the Code shall be made by the General Partners in such manner as will, in the opinion of the Accountants, be most advantageous to a majority in interest of the Limited Partners. The Partnership shall, to the extent permitted by applicable law and regulations, elect to treat as an expense for federal income tax purposes all amounts incurred by it for real estate taxes, interest and other charges which may, in accordance with applicable law and regulations, be considered as expenses.
Federal Tax Elections. The Fund, in the sole discretion of the Manager, may make or revoke elections for federal tax purposes as follows: (i) In the case of a distribution of property within the meaning of Section 734 of the Code, the Fund, in the absolute discretion of the Manager, may elect pursuant to Section 754 of the Code (or corresponding provisions of future law) and pursuant to similar provisions of applicable state or local income tax laws, to adjust the basis of the remaining assets of the Fund; and (ii) All other elections required or permitted to be made by the Fund under the Code shall be made by the Manager in such manner as will, in the opinion of the Manager, be in the best interest of the Fund and advantageous to individual Shareholders who are (1) married and filing joint federal income tax returns and (2) in the maximum marginal federal income tax bracket. (In reaching such opinion the Manager shall not be required to poll or survey the Shareholders.) The Fund shall, to the extent permitted by applicable law and regulations, elect to treat as an expense for federal income tax purposes all amounts incurred by it for state and local taxes, interest and other charges that may, in accordance with applicable law and regulations, be considered as expenses.
Federal Tax Elections. All elections for federal tax purposes, including but not limited to an election to adjust the basis of the assets of the Company pursuant to Section 754 of the Code, and the adoption of accelerated depreciation or cost recovery methods required or permitted to be made by the Company under the Code shall be determined by the BH Investor.
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Federal Tax Elections. Without xxxxx-ing the effect of Section 4.1, the Participants agree that their relationship shall constitute a tax partnership within the mean-ing of Section 761(a) of the United States Internal Revenue Code of 1986, as amended. Tax elections and allocations shall be made as set forth in Exhibit C.
Federal Tax ElectionsThe Partnership, in the sole and absolute discretion of the General Partner, may make elections for federal tax purposes as follows:
Federal Tax Elections. The Partnership, in the sole and absolute discretion of the General Partner, may make elections for federal tax purposes as follows: (a) In case of a transfer of all or part of a General Partner's Partnership Interest or a Limited Partner's Units, the Partnership may timely elect under Section 754 of the Code (or corresponding provisions of future law), and under similar provisions of applicable state or local income tax laws, to adjust the basis of the assets of the Partnership. In that event, any basis adjustment attributable to the election shall be allocated solely to the transferee. (b) All other elections, including but not limited to the adoption of accelerated depreciation and cost recovery methods, required or permitted to be made by the Partnership under the Code shall be made by the General Partner in such manner as will, in the opinion of the General Partner (as advised by Counsel or the Accountants as the General Partner deems necessary), be most advantageous to the Limited Partners as a group. The Partnership shall, to the extent permitted by applicable law and regulations, elect to treat as an expense for federal income tax purposes all amounts incurred by it for state and local taxes, interest and other charges which may, in accordance with applicable law and regulations, be considered as expenses.
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