General Elections Clause Samples
The 'General Elections' clause defines the procedures and conditions under which elections are conducted for a governing body or organization. It typically outlines who is eligible to vote or stand for election, the timing and frequency of elections, and the process for nominating and electing candidates. By establishing clear rules for the election process, this clause ensures transparency, fairness, and orderly transitions of leadership within the organization.
General Elections. For both income tax return and capital account purposes, the Tax Partnership shall elect:
a) to deduct when incurred intangible drilling and development costs (“IDC”).
b) for calculating depreciation, to use the maximum allowable accelerated tax method and the shortest permissible tax life for depreciation, or the units of production method, as determined by the TRP.
c) the accrual method of accounting.
d) to report income on a calendar year basis. and the Tax Partnership shall also make any elections as specially noted in Section 9.2, below.
General Elections. For both income tax return and capital account purposes, the Partnership shall elect:
a) to use the maximum allowable accelerated tax method and the shortest permissible tax life for depreciation and other cost recovery;
b) the accrual method of accounting;
c) to report income on a calendar year basis;
d) and the Partnership shall also make any elections as specially noted in Section 9.2 below.
General Elections. 4 4.2 DEPLETION .......................................................................................4 4.3 ELECTION OUT UNDER CODE ss761(a) ................................................................4 4.4 CONSENT REQUIREMENTS FOR SUBSEQUENT TAX OR FMV CAPITAL ACCOUNT ELECTIONS.........................4 5. CAPITAL CONTRIBUTIONS AND FMV CAPITAL ACCOUNTS ......................................................5 5.1
General Elections. For both income tax return and capital account purposes, the Company shall elect: (a) to use the maximum allowable accelerated tax method and the shortest permissible tax life for depreciation purposes, (b) the accrual method of accounting, (c) to treat all organizational costs of the Company as deferred expenses amortizable over a sixty (60) month period pursuant to Section 709(b) of the Code and comparable provisions of state law, (d) to amortize start-up expenditures over a sixty (60) month period pursuant to Section 195(d) of the Code and comparable provisions of state law, and (e) to report income on a calendar year basis.
General Elections. If the general elections are held for State Assembly / Parliament and Government declares a public holiday for exercising the franchise, the contractor shall give their workmen half day leave in "First" shift only. The contractor's workmen working in “Second” and “Night” shifts will be required to exercise their franchise during their own time.
General Elections. References to Clauses, Schedules, or Paragraphs shall be references to the clauses, schedules or paragraphs of the Client Clearing Standard Terms. References to Clauses shall be references to the clauses in the Collateral Addendum (as set out in Appendix 3 of the Client Clearing Standard Terms).
General Elections. For both income tax return and capital account purposes, the Partnership shall elect (a) to deduct currently intangible drilling and development costs ("IDC"), (b) to use maximum allowable accelerated tax method and the shortest permissible tax life for depreciation purposes, (c) to use the accrual method of accounting, (d) to report income on a calendar year basis or other "required" year-end in accordance with the regulations under Code Section 706(b), and (e) dispositions of depreciable assets be accounted for under the General Asset account method to the extent permitted by Code Section 168(i)(4).
General Elections. Employees will be excused, without pay, to vote in a general election not exceeding two (2) hours provided the employees are scheduled to work more than four (4) hours during the hours the polls are open.
General Elections. For both income Tax Return and capital account ------------------ purposes, the Partnership shall elect:
(1) to deduct when incurred intangible drilling and development costs ("IDC");
(2) to use the maximum allowable accelerated tax method and the shortest permissible tax life for depreciation;
(3) the accrual method of accounting;
(4) to report income on a calendar year basis;
(5) upon request by any Partner, to make an election under Code Section 754 and the Treasury Regulations promulgated thereunder to adjust the bases of the Partnership's properties under Code Sections 734 and 743;
(6) to elect to deduct the organizational expenses of the Partnership as permitted by Code Section 709(b); and
(7) to elect to deduct the start-up expenditures of the Partnership as permitted by Code Section 195(b). Neither the Partnership nor any Partner may make an election for the Partnership to be excluded from the application of the provisions of Subchapter K of Chapter 1 of Subtitle A of the Code or similar provisions of applicable state Law, and no provision of this Agreement shall be construed to sanction or approve such an election.
General Elections. 21 6.3.2 Other Elections or Consents . . . . . . . . . . . . 21 6.4 Capital Contributions and FMV Capital Accounts . . . . . . . 22 6.4.1 Capital Contributions . . . . . . . . . . . . . . . 22 6.4.2 FMV Capital Accounts . . . . . . . . . . . . . . . 22 6.5