Common use of Special Basis Adjustment Clause in Contracts

Special Basis Adjustment. In connection with any Transfer of a Company interest, the Company shall, if the transferor or the transferee so requests and the Manager agrees, elect, at the time and in the manner provided in Regulations Section 1.754-1(b), to adjust the basis of the Company’s property in the manner provided in Section 743(b) of the Code, and such transferee shall pay all costs incurred by the Company in connection therewith, including, without limitation, reasonable attorneys’ and accountants’ fees.

Special Basis Adjustment. In connection with any Transfer of a Company interest, the Company shall, if at the written request of the transferor or the transferee so requests transferee, on behalf of the Company and the Manager agrees, elect, at the time and in the manner provided in Regulations Section 1.754-1(b), make an election to adjust the basis of the Company’s property in the manner provided in Section Sections 734(b) and 743(b) of the Code, and such transferee shall pay all costs incurred by the Company in connection therewith, including, without limitation, reasonable attorneys’ and accountants’ fees.