Common use of BASIS ANALYSIS Clause in Contracts

BASIS ANALYSIS. Upon the request of any Member but subject to the Manager’s agreement, which may be withheld in the Manager’s sole discretion, the Manager may, prior to the end of each calendar year, beginning in 2014, cause accountants to prepare and provide to the Members a study analyzing each refinancing, reduction (other than scheduled periodic amortization of principal) of debt or other event that occurred during that year that reduced the amount of any nonrecourse liabilities of the Company that a Member may include in the tax basis of its Membership Interests.

BASIS ANALYSIS. Upon the request of any Member but subject to the Manager’s agreement, which may be withheld in the Manager’s sole discretion, the Manager may, prior to the end of each calendar year, beginning in 20142017, cause accountants to prepare and provide to the Members a study analyzing each refinancing, reduction (other than scheduled periodic amortization of principal) of debt or other event that occurred during that year that reduced the amount of any nonrecourse liabilities of the Company that a Member may include in the tax basis of its Membership Interests.