Common use of Right to Make Section 754 Election Clause in Contracts

Right to Make Section 754 Election. In their sole discretion, the Managers of any Series may make or revoke, on behalf of the Company, an election in accordance with § 754 of the Code, so as to adjust the basis of Company Property for such Series in the case of a distribution of property within the meaning of § 734 of the Code, and in the case of a transfer of a Company interest within the meaning of § 743 of the Code. Each of such Series Members shall supply the information necessary to give effect to such an election.

Right to Make Section 754 Election. In their The Manager may, in his sole discretion, the Managers of any Series may make or revoke, on behalf of the Company, an election in accordance with § §754 of the Code, so as to adjust the tax basis of Company Property for such Series property in the case of a distribution of property within the meaning of § §734 of the Code, and in the case of a transfer of a Company interest within the meaning of § §743 of the Code. Each of such Series Members shall the Holders shall, upon request of the Manager, supply the information necessary to give effect to such an election.

Right to Make Section 754 Election. In their The Manager may, in its sole discretion, the Managers of any Series may make or revoke, on behalf of the Company, an election in accordance with § §754 of the Code, so as to adjust the basis of Company Property for such Series property in the case of a distribution of property within the meaning of § §734 of the Code, and in the case of a transfer of a Company interest within the meaning of § §743 of the Code. Each of such Series Members shall the Unit Holders shall, upon request of the Manager, supply the information necessary to give effect to such an election.

Right to Make Section 754 Election. In The Managers may, in their sole discretion, the Managers of any Series may make or revoke, on behalf of the Company, an election in accordance with § 754 ss.754 of the Code, so as to adjust the basis of Company Property for such Series property in the case of a distribution of property within the meaning of § 734 ss.734 of the Code, and in the case of a transfer of a Company interest within the meaning of § 743 ss.743 of the Code. Each of such Series Members shall the Unit Holders shall, upon request of the Managers, supply the information necessary to give effect to such an election.

Right to Make Section 754 Election. In their sole discretion, the The Managers of any Series may make or revokemake, on behalf of the Companyany Series, an election in accordance with § Section 754 of the Code, so as to adjust the basis of Company Property for such property of the Series in the case of a distribution of property of the Series within the meaning of § Section 734 of the Code, and in the case of a transfer of a an interest in the Company interest associated with the Series within the meaning of § Section 743 of the Code. Each of such the Members associated with the Series Members shall supply the information necessary to give effect to such an the election.