Common use of Withholding on Distributions Clause in Contracts

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.

Appears in 2 contracts

Sources: Operating Agreement (Cornerstone Realty Fund LLC), Operating Agreement (Cornerstone Realty Fund LLC)