Partnership Representative; Tax Elections; Special Basis Adjustments. (a) The General Partner shall act as or appoint the “Partnership Representative” within the meaning of Section 6223(a) of the Code and, in each case, any similar provisions under any state, local or foreign tax law. As Partnership Representative, the General Partner (or its appointee) shall have the right and obligation to take all actions authorized or required by the Code to be taken by the Partnership Representative. The General Partner (or its appointee) shall have the right to retain professional assistance in respect of any audit of the Partnership by the Service and all out-of-pocket expenses and fees incurred by the General Partner (or its appointee) on behalf of the Partnership as Partnership Representative, shall constitute Partnership expenses.
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Samples: Limited Partnership Agreement (EQT Exeter Real Estate Income Trust, Inc.), Limited Partnership Agreement (IPC Alternative Real Estate Income Trust, Inc.), Limited Partnership Agreement (IPC Alternative Real Estate Income Trust, Inc.)
