Common use of Tax Elections Clause in Contracts

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's property as described in Code Section 734 occurs or upon a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Committee may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's ’s fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's ’s property as described in Code Section 734 occurs or upon if a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's ’s properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Executive Committee may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's property as described in Code Section 734 occurs or upon a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Committee Board of Directors may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election. If an election is made under Code Section 754 as provided in clause (c) above, such election may not be revoked without the consent of all Members.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's ’s fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's ’s property as described in Code Section 734 occurs or upon if a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's ’s properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Committee Board of Directors may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.072.06) shall be construed to sanction or approve such an election. If an election is made under Code Section 754 as provided in clause (c) above, such election may not be revoked without the consent of all Members.

Tax Elections. (a) The Company shall make the following elections on the appropriate tax returns: (ai) to adopt as the Company's fiscal year the calendar year; (bii) to adopt the accrual method of accounting; (ciii) if a distribution to make the election under Section 754 of the Company's property as described Code in Code Section 734 occurs or upon a transfer of Membership Interest as described in Code Section 743 occursaccordance with applicable regulations thereunder, on request by notice from any Member, subject to elect, pursuant to Code Section 754, to adjust the basis reservation of the Companyright to seek to revoke any such election upon the Tax Matters Member's propertiesdetermination that such revocation is in the best interests of the Members; (div) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (ev) any other election the Management Committee Board may deem appropriate. . (b) Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's ’s fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's ’s property as described in Code Section 734 occurs or upon a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's ’s properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Committee may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to To adopt the calendar year as the Company's fiscal year the calendar yearFiscal Year; (b) to To adopt the accrual cash method of accounting; (c) if If a distribution of the Company's property Distribution as described in Code Section 734 occurs or upon if a transfer of a Membership Interest as described in Code Section 743 occurs, on upon the written request by notice from of any Member, to elect, pursuant to Code Section 754, elect to adjust the basis of the Company's propertiesproperty of the Company pursuant to Code Section 754; (d) to To elect to amortize the organizational expenses of the Company and the start-up expenditures of the Company under Code Section 195 ratably over a period of 60 sixty months as permitted by Code Section 709(b) of the Code); and (e) any Any other election that the Management Committee Company may deem appropriateappropriate and in the best interests of the Members. Neither the Company nor any Member shall may make an election for the Company to be excluded from the application of the provisions of subchapter Subchapter K of chapter Chapter 1 of subtitle Subtitle A of the Code or any similar provisions of applicable state law law, and no provision provisions of this Agreement (including Section 2.07) shall be construed interpreted to sanction or approve authorize any such an election.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's property as described in Code Section 734 occurs or upon if a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Committee Board of Directors may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.072.06) shall be construed to sanction or approve such an election. If an election is made under Code Section 754 as provided in clause (c) above, such election may not be revoked without the consent of all Members.

Tax Elections. The Company shall make the following elections on the appropriate tax returns: (a) to adopt as the Company's ’s fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if a distribution of the Company's ’s property as described in Code Section 734 occurs or upon a transfer of Membership Interest as described in Code Section 743 occurs, on request by notice from any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's ’s properties; (d) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (e) any other election the Management Committee may deem appropriate. Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.

Tax Elections. The Company Partnership Representative shall make the following elections on the appropriate tax returns: (a) to To adopt the calendar year as the Company's ’s fiscal year the calendar year; (b) to adopt the accrual method of accounting; (c) if If a distribution of the Company's Company property as described in Code Section 734 occurs or upon if a transfer of Membership Interest Interests as described in Code Section 743 occurs, on written request by notice from of any Member, to elect, pursuant to Code Section 754, to adjust the basis of the Company's Company properties; (dc) to To elect to amortize the organizational expenses of the Company and the startup expenditures of the Company under Code Section 195 ratably over a period of 60 sixty (60) months as permitted by Code Section 709(b) of the Code); and (ed) any Any other election the Management Committee Partnership Representative may deem appropriateappropriate and in the best interests of the Members. Neither the Company nor any Member shall may make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law law, and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.

Tax Elections. (a) The Company shall make the following elections on the appropriate tax returns: (ai) to adopt as the Company's ’s fiscal year the calendar year; (bii) to adopt the accrual method of accountingaccounting permitted under the Code; (ciii) if a distribution to make the election under Section 754 of the Company's property as described Code in Code Section 734 occurs or upon a transfer of Membership Interest as described in Code Section 743 occursaccordance with applicable regulations thereunder, on request by notice from any Member, subject to elect, pursuant to Code Section 754, to adjust the basis reservation of the Company's propertiesright to seek to revoke any such election upon the Tax Matters Member’s determination that such revocation is in the best interests of the Members; (div) to elect to amortize the organizational expenses of the Company ratably over a period of 60 months as permitted by Section 709(b) of the Code; and (ev) any other election the Management Committee Managers may deem appropriate. . (b) Neither the Company nor any Member shall make an election for the Company to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any similar provisions of applicable state law and no provision of this Agreement (including Section 2.07) shall be construed to sanction or approve such an election.