Common use of Section 754 Election Clause in Contracts

Section 754 Election. The Partnership shall, upon the written request of any Partner benefitted thereby, cause the Partnership to file an election under Section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local law.

Section 754 Election. The Partnership shall, upon the written request of any Partner benefitted benefited thereby, cause the Partnership to file an election under Section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local law.

Section 754 Election. The Partnership shall, upon the written -------------------- request of any Partner benefitted thereby, cause the Partnership to file an election under Section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local law.

Section 754 Election. The Partnership shall, upon if requested by either General Partner, make the written request of any Partner benefitted thereby, cause the Partnership to file an election under Section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local law.

Section 754 Election. The Partnership shall, upon the written request of any Partner benefitted benefited thereby, cause the Partnership to file an election under Section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local law.. HOU03:1138115.4 14

Section 754 Election. The Partnership shall, upon the written request of any Partner benefitted thereby, cause the Partnership to file an election under Section section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local law.

Section 754 Election. The Partnership shallUpon the proposal of the General Partner, upon the written request of any Partner benefitted thereby, cause the Partnership shall elect, pursuant to file an election under Section 754 of the Code and the Regulations thereunder Code, to adjust the basis of the Partnership assets under Section 734(b) or 743(b) property as permitted and provided in Sections 734 and 743 of the Code. Such election shall be effective solely for Federal (and, and a corresponding election under the applicable sections of if applicable, state and local lawlocal) income tax purposes.

Section 754 Election. The Partnership shallUpon the transfer of an interest in the Partnership, upon the written request of any Partner benefitted thereby, cause the Partnership to file shall make an election under pursuant to Section 754 of the Code and the Regulations thereunder to adjust the basis of the Partnership assets under Section 734(b) or 743(b) of the Code, and a corresponding election under the applicable sections of state and local lawProperty.