Common use of Power of General Partner to Elect Method Clause in Contracts

Power of General Partner to Elect Method. To the extent Treasury Regulations promulgated pursuant to Section 704(c) of the Code permit a partnership to utilize alternative methods to eliminate the disparities between the agreed value of property and its adjusted basis, the General Partner shall have the authority to elect the method to be used by the Partnership and such election shall be binding on all Partners.

Power of General Partner to Elect Method. To the extent Treasury ---------------------------------------- Regulations promulgated pursuant to Section 704(c) of the Code permit a partnership to utilize alternative methods to eliminate the disparities between the agreed value of property and its adjusted basis, the General Partner shall have the authority to elect the method to be used by the Partnership and such election shall be binding on all Partners.

Power of General Partner to Elect Method. To the extent Treasury Regulations promulgated pursuant to Section Code section 704(c) of the Code permit a partnership to utilize alternative methods to eliminate the disparities between the agreed value of property and its adjusted basis, basis the General Partner shall have the authority to elect the traditional method without curative allocations to be used by the Partnership and such election ejection shall be binding on all Partners.

Power of General Partner to Elect Method. To the extent Treasury Regulations promulgated pursuant to Section 704(c) of the Code permit a partnership to utilize alternative methods to eliminate the disparities between the agreed value of property and its adjusted basis, the General Partner shall have the authority to elect the traditional method without curative allocations to be used by the Partnership and such election shall be binding on all Partners.