MLP Status Sample Clauses
The "MLP Status" clause defines the classification or standing of a party as a Master Limited Partnership (MLP) within the context of the agreement. It typically outlines the criteria that must be met for a party to be considered an MLP, such as organizational structure, tax treatment, or regulatory compliance. This clause ensures that both parties are clear on the MLP designation, which can affect tax obligations, reporting requirements, and eligibility for certain contractual benefits, thereby reducing ambiguity and potential disputes regarding the party's legal and tax status.
MLP Status. The Partnership is properly treated as a partnership for United States federal income tax purposes and more than 90% of the Partnership’s current gross income is qualifying income under 7704(d) of the Internal Revenue Code of 1986, as amended.
MLP Status. The Partnership has, for each taxable year ending after December 31, 2010, during which the Partnership was in existence, met the gross income requirements of Section 7704(c)(2) of the Internal Revenue Code of 1986, as amended (the “Code”). The Partnership expects to meet the gross income requirements of Section 7704(c)(2) of the Code for its taxable year ending December 31, 2016.
MLP Status. The Partnership is properly treated as a partnership for United States federal income tax purposes and has, for each taxable year beginning after December 31, 2010 during which the Partnership was in existence, met the gross income requirements of Section 7704(c)(2) of the Code.
MLP Status. Crosstex has, for each taxable year beginning after December 31, 2001, during which Crosstex was in existence, met the gross income requirements of Section 7704(c)(2) of the Internal Revenue Code of 1986, as amended.
MLP Status. MarkWest has, for each taxable year beginning after December 31, 2002, during which MarkWest was in existence, met the gross income requirements of Section 7704(c)(2) of the Internal Revenue Code of 1986, as amended.
MLP Status. Seller has, since its formation, met the gross income requirements of Section 7704(c)(2) of the Internal Revenue Code of 1986, as amended.
MLP Status. Inergy has, for each taxable year beginning after December 31, 2000, during which Inergy was in existence, met the gross income requirements of Section 7704(c)(2) of the Internal Revenue Code of 1986, as amended.
MLP Status. ETP is properly treated as a partnership for United States federal income tax purposes and more than 90% of ETP’s current gross income is qualifying income under Section 7704(d) of the Internal Revenue Code of 1986, as amended.
MLP Status. Buckeye is properly treated as a partnership for United States federal income tax purposes and more than 90% of Buckeye’s current gross income is qualifying income under 7704(d) of the Internal Revenue Code of 1986, as amended.
MLP Status. Regency is properly treated as a partnership for United States federal income tax purposes and more than 90% of Regency’s current gross income is qualifying income under Section 7704(d) of the Internal Revenue Code of 1986, as amended.