Section 754 Election definition
Section 754 Election means an election under Section 754 of the Code and any comparable election under applicable state or local income tax laws.
Section 754 Election shall have the meaning set forth in Section 8.5(a) hereof.
Section 754 Election. An election under Section 754 of the Code relating to the adjustment of the adjusted basis of Partnership Assets as provided in Sections 734 and 743 of the Code.
Examples of Section 754 Election in a sentence
The Parties acknowledge and agree that all Tax items resulting from the Section 754 Election (including, without limitation, additional amortization deductions, if any) in connection with the purchase of the Membership Interests shall be allocated to Buyer in accordance with Code Section 743(b).
More Definitions of Section 754 Election
Section 754 Election has the meaning set forth in Section 6.05(b).
Section 754 Election is defined in Section 5.3.1.
Section 754 Election has the meaning specified in SECTION 5.6.
Section 754 Election is defined in the Recitals of this Agreement.
Section 754 Election means any election made by the Partnership under section 754 of the Code.
Section 754 Election has the meaning provided such term in Section 13.6.
Section 754 Election shall have the meaning specified in Section 4.11(g).