Common use of Partnership Asset Adjustments Clause in Contracts

Partnership Asset Adjustments. In the event the Gross Asset Value of any Partnership Asset is adjusted under Section 5.2 hereof, subsequent allocations of Partnership income, gain, loss, and deduction with respect to such asset, as calculated for tax purposes, shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in accordance with the principals of Code Section 704(c) as is required pursuant to Treasury Regulations Section 1.704-1(b)(4)(i).

Partnership Asset Adjustments. In the event the Gross Asset Value of any Partnership Asset is adjusted under Section SECTION 5.2 hereof, subsequent allocations of Partnership income, gain, loss, and deduction with respect to such asset, as calculated for tax purposes, shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Value in accordance with the principals of Code Section 704(c) as is required pursuant to Treasury Regulations Section 1.704-1(b)(4)(i).

Partnership Asset Adjustments. In the event the Gross Asset Market Value of any Partnership Asset asset is adjusted under pursuant to Section 5.2 hereof1.27, subsequent allocations of Partnership income, gain, loss, loss and deduction with respect to such asset, as calculated for tax purposes, shall take account of any variation between the adjusted basis of such asset for federal income tax purposes and its Gross Asset Market Value in accordance with the principals principles of Code Section 704(c) ), as is required pursuant to Treasury Regulations Regulation Section 1.704-1(b)(4)(il(b)(4)(i).