Common use of Section 754 Elections Clause in Contracts

Section 754 Elections. To the extent it has the Legal Right, the Seller shall take or cause to be taken such actions as are requested by the Buyer in order to cause any Acquired Company that is treated as a partnership for federal tax purposes to make a timely election under Section 754 of the Code with respect to the Seller’s sale of interests in any such entity to the Buyer hereunder.

Appears in 4 contracts

Samples: Purchase and Sale Agreement (Markwest Energy Partners L P), Purchase and Sale Agreement (Markwest Hydrocarbon Inc), Purchase and Sale Agreement (Markwest Energy Partners L P)

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Section 754 Elections. To the extent it has the Legal Right, the The Seller shall take or cause to be taken such actions as are requested by the Buyer in order to cause any Acquired Company that is treated as a partnership for federal tax purposes to make a timely election under Section 754 of the Code with respect to the Seller’s sale of interests in any such entity to the Buyer hereunder.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Genesis Energy Lp)

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Section 754 Elections. To the extent it has the Legal Right, the The Seller shall take or cause to be taken such actions as are requested by the Buyer in order to cause any Acquired Company that is treated as a partnership for federal tax purposes to make a timely election under Section 754 of the Code with respect to the Seller’s 's sale of interests in any such entity to the Buyer hereunder.

Appears in 1 contract

Samples: Purchase and Sale Agreement (Crosstex Energy Lp)

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