Common use of Partnership Tax Returns Clause in Contracts

Partnership Tax Returns. (a) The General Partner shall cause to be prepared and timely filed all tax returns required to be filed for the Partnership. The General Partner may, in its discretion, make, or refrain from making, any federal, state or local income or other tax elections for the Partnership that it deems necessary or advisable; provided that the General Partner shall make an election under Section 754 of the Code with the tax return for its first Fiscal Year.

Partnership Tax Returns. (a) The General Partner shall cause to be prepared and timely filed all tax returns required to be filed for the Partnership. The General Partner may, in its discretion, make, or refrain from making, any federal, state or local income or other tax elections for the Partnership that it deems necessary or advisable; provided that the General Partner shall make , including an election under pursuant to Code Section 754 of the Code with the tax return for its first Fiscal Year754.

Partnership Tax Returns. (a) The General Partner shall must cause to be prepared and timely filed all tax returns required to be filed for the Partnership. The General Partner may, in its sole discretion, make, refrain or refrain revoke from making, any federal, state or local income or other tax elections for the Partnership that it deems necessary or advisable; provided that the General Partner shall make an , including any election under pursuant to Section 754 of the Code with Code, and must take such action and make any election as may be required to ensure that the Partnership is classified as a partnership for federal income tax return for its first Fiscal Yearpurposes.