Common use of Binding Effect of Actions by Partnership Representative Clause in Contracts

Binding Effect of Actions by Partnership Representative. The Company and the Members hereby agree and acknowledge that (a) the actions of the Partnership Representative in connection with the Partnership Audit Rules shall be binding on the Company and the Members; and (b) neither the Company nor the Members have any right to contact the IRS or participate in an audit or proceedings under the Partnership Audit Rules.

Binding Effect of Actions by Partnership Representative. The Company and the Members hereby agree and acknowledge that (a1) the actions of the Partnership Representative in connection with the Partnership Audit Rules shall be binding on the Company and the Members; and (b2) neither the Company nor the Members have any right to contact the IRS or participate in an audit or proceedings under the Partnership Audit Rules.

Binding Effect of Actions by Partnership Representative. The Company and the Members members hereby agree and acknowledge that (a) the actions of the Partnership Representative partnership representative in connection with the Partnership Audit Rules shall be binding on the Company and the Membersmembers; and (b) neither the Company nor the Members members have any right to contact the IRS or participate in an audit or proceedings under the Partnership Audit Rules.