Withholding on Distributions Clause Samples

Withholding on Distributions. Each Member consents and agrees that ---------------------------- the Company may deduct and withhold amounts for tax or other obligations of such Member on any amount distributed or allocated by the Company to such Member, and to any assignee of a Member's Membership Interest (or the related Economic Interest), if the Company believes in good faith that it is required by law to do so. All amounts so withheld with respect to such Member, substitute Member, or Economic Interest Owner shall be treated as amounts distributed to such Person pursuant to Section 9.5 or 9.6 for all purposes under this Agreement. In addition, the affected Member, substitute Member or Economic Interest Owner shall reimburse the Company for any such amounts so withheld to the extent not deducted from a distribution.

Withholding on Distributions. To the extent that any Distribution is subject to Federal or state withholding, the portion of any such Distribution withheld and paid over to Federal or state authorities shall be treated for all purposes hereunder as if such amount was actually distributed to the particular Member otherwise entitled to receive such amount.

Withholding on Distributions. (i) The General Partner may withhold and pay over to the U.S. Internal Revenue Service (or any other relevant taxing authority) such amounts as the Partnership is required to withhold or pay over, pursuant to the Code or any other applicable law, on account of a Partner’s distributive share of the Partnership’s items of gross income, income or gain. (ii) For purposes of this Agreement, any Withholding Taxes or other taxes withheld (directly or indirectly) or paid over (directly or indirectly) by the Partnership or any other Person (or with respect to distributions to the Partnership) with respect to a Partner’s or Former Partner’s distributive share of the Partnership’s gross income, income or gain (including under the BBA Rules) shall be deemed to be a distribution or payment to such Partner or Former Partner reducing (without duplication) the Capital Account(s) of such Partner or Former Partner and reducing the amount otherwise distributable to such Partner or Former Partner pursuant to this Agreement. If the amount of such taxes is greater than such Capital Account balance and/or any such distributable amounts, then such Partner, Former Partner and any successor to such Partner’s or Former Partner’s Interest shall pay the amount of such excess to the Partnership, plus interest thereon at a rate equal to (i) the Prime Rate as of the date any such obligation is incurred plus (ii) two percent per annum, as a contribution to the capital of the Partnership. This Section 5.06(e)(ii) shall survive the termination of the Partnership. (iii) The General Partner shall not be obligated to apply for or obtain a reduction of or exemption from Withholding Tax on behalf of any Partner that may be eligible for such reduction or exemption. To the extent that a Partner claims to be entitled to a reduced rate of, or exemption from, a Withholding Tax pursuant to an applicable income tax treaty, or otherwise, the Partner shall furnish the General Partner with such information and forms as such Partner may be required to complete where necessary to comply with any and all laws and regulations governing the obligations of withholding tax agents. Each Partner represents and warrants that any such information and forms furnished by such Partner shall be true and accurate and agrees to indemnify the Partnership and each of the Partners from any and all damages, costs and expenses resulting from the filing of inaccurate or incomplete information or forms relating to any such Withh...

Withholding on Distributions. All amounts required to be withheld pursuant to the Code or any provision of any state, local or foreign tax law with respect to any payment, distribution or allocation to the Company or any Member and treated by the Code (whether or not withheld pursuant to the Code) or any such tax law as amounts payable by or in respect of any Member or any Person owning an interest, directly or indirectly, in such Member shall be treated as amounts distributed to the Member for purposes of Section 7.2. The Managers are authorized to withhold from distributions, or with respect to allocations, to the Members and to pay over to any federal, state, local or foreign government any amounts required to be so withheld pursuant to the Code or any provisions of any other federal, state, local or foreign law and shall allocate any such amounts to the Member with respect to which such amount was withheld.

Withholding on Distributions. Federal income tax regulations generally require IRA trustees and custodians to withhold (subtract) for federal income tax purposes, an amount equal to 10% of any IRA distribution unless, before the distribution is issued to you, you elect not to have withholding applied. A special exception to this general rule applies to distributions from ▇▇▇▇ IRAs. Under current law, ▇▇▇▇ ▇▇▇ trustees and custodians may, but are not required to, withhold an amount equal to 10% of any ▇▇▇▇ ▇▇▇ distribution amount when no election to waive withholding has been received. Special withholding election rules apply to distributions that are to be delivered outside of the United States.

Withholding on Distributions. Each Member acknowledges and agrees that the Company may be required to deduct and withhold tax or to fulfill other obligations of such Member on any amount distributed or allocated by the Company to such Member or to any assignee of a Member's Interest (or the related Economic Interest). Each Member shall promptly furnish the Tax Matters Partner with an Internal Revenue Service Form W-8, Form W-9 or Form 1001, as applicable. All amounts so withheld with respect to such Member shall be treated as amounts distributed to such Person pursuant to Section 5.2(b) for all purposes under this Agreement.

Withholding on Distributions. Distributions under this Plan shall be subject to Federal income tax withholding to the extent prescribed by Section 3405 of the Code. In accordance with Section 3405(c) of the Code and the regulations thereunder, if a Participant elects to receive a distribution of any portion of an eligible rollover distribution rather than have such distribution transferred directly to an eligible retirement plan in accordance with Section 8.10, the Employer shall withhold or cause to be withheld from such distribution an amount equal to twenty percent (20%) of such distribution.

Withholding on Distributions. If the Company makes a distribution to an Investing Member and determines that withholding is required, the Company shall have the right to withhold from the amount otherwise distributable to such Investing Member the amount required to be withheld and shall remit such amount to the Internal Revenue Service or the foreign, state or local tax authorities. Any amount withheld from a distribution and remitted shall be deemed distributed to such Investing Member.

Withholding on Distributions. The amount of any Distributions required by applicable foreign, federal, state or local law to be withheld and remitted by the Company to any governmental authority shall be treated as if such amount was distributed to the Member for whose benefit such withholding was made as if the amount was actually distributed to the Member for purposes of this Article IX or Article XV