Obligations of Members to Report Allocations. The Members are aware of the income tax consequences of the allocations made by this Article VI and hereby agree to be bound by the provisions of this Article VI in reporting their shares of Company income and loss for income tax purposes.
Appears in 19 contracts
Sources: Operating Agreement, Limited Liability Company Agreement (Golden Pacific Homes, LLC), Limited Liability Company Agreement (Golden Pacific Homes, LLC)
Obligations of Members to Report Allocations. The Members are aware of the income tax consequences of the allocations made by this Article ARTICLE VI and hereby agree to be bound by the provisions of this Article ARTICLE VI in reporting their shares of Company income and loss for income tax purposes.
Appears in 2 contracts
Sources: Operating Agreement (Osi Restaurant Partners, LLC), Operating Agreement (Outback Steakhouse Inc)
Obligations of Members to Report Allocations. The Members are aware of the income tax consequences of the allocations made by this Article VI and hereby agree to be bound by the provisions of this Article VI in reporting their shares of Company income and loss for income tax purposes. Further, the Members agree to treat the Company as the owner of the Premises for income tax purposes and agree not to take any position that is inconsistent with such treatment for income tax purposes.
Appears in 1 contract