Common use of Subsidiary Partnership Tax Classification Clause in Contracts

Subsidiary Partnership Tax Classification. Each of the Operating Partnership and each Subsidiary that is a partnership or a limited liability company under state law has been at all relevant times properly classified as a partnership or a disregarded entity, and not as a corporation or an association taxable as a corporation, for federal income tax purposes.

Subsidiary Partnership Tax Classification. Each of the Operating Partnership and each Subsidiary that is a partnership or a limited liability company under state law has been at all relevant times properly classified as a partnership or a disregarded entity, and not as a corporation or an association taxable as a corporation, for federal income tax purposes, except for Xxxxxxx Development, LLC, Xxxxxxx Interests, LLC, Xxxxxxx Real Estate, LLC and Xxxxxxx Management LLC, which have elected to be treated as taxable REIT subsidiaries pursuant to Code Section 856(l)1).

Subsidiary Partnership Tax Classification. Each of the Operating Partnership and each Subsidiary that is a partnership or a limited liability company under state law has been at all relevant times properly classified as a partnership or a disregarded entity, and not as a corporation or an association taxable as a corporation, for federal income tax purposes, except for Xxxxxxx Development, LLC, Xxxxxxx Interests, LLC, Xxxxxxx Real Estate, LLC and Xxxxxxx Management LLC, which have elected to be treated as taxable REIT subsidiaries pursuant to Code Section 856(l)(1).