Classification as a Partnership. Anything herein to the contrary notwithstanding, the Partners intend that the Partnership be treated as a “partnership” for federal, state, local and, as applicable, foreign tax purposes. In connection therewith, neither the General Partner nor any other Partner shall, or shall cause or permit the Partnership to: (i) be excluded from the provisions of Subchapter K of the Code under Code Section 761 or otherwise; (ii) file the election under Treasury Regulations Section 301.7701-3 (or successor provision) which would result in the Partnership being treated as an entity taxable as a corporation for federal, state, local or, as applicable, foreign, income tax purposes; or (iii) do anything which could result in the Partnership not being treated as a “partnership” for federal, state, local and, as applicable, foreign tax purposes.
Classification as a Partnership. It is the intention of all of the Members that the Company be classified as a partnership for federal, state and local income tax purposes for so long as such a classification is permitted by law. The Company shall take whatever action may be necessary to carry out this intention, and neither the Company nor any Member shall take any action or position that is inconsistent with this intention.
Classification as a Partnership. In conducting the operation of the Partnership, the General Partner shall at no time engage in any conduct that might cause the Partnership not to be classified for Federal income tax purposes as a partnership but as an association taxable as a corporation.
Classification as a Partnership. The Company shall be classified as a partnership for U.S. federal income tax purposes and no person shall take any action inconsistent with such classification.
Classification as a Partnership. The parties hereto intend the Company to be classified as a partnership for U.S. federal, and applicable state and local tax purposes effective as of the Formation Date. Unless otherwise determined by the Board of Managers, with the consent of the TeraWulf Member, not to be unreasonably withheld, delayed or conditioned, the Company Representative shall take (or refrain from taking) such actions as may be necessary to receive and maintain such treatment and refrain from taking any actions inconsistent therewith. Each Member shall reasonably cooperate with the Board of Managers, or the Company Representative, as applicable, and the Company in connection with the foregoing provisions of this Section 3.15(c).
Classification as a Partnership. The parties hereto intend that the Company be classified as a partnership for United States federal income tax purposes effective as of the date of this Agreement and its Subsidiaries be classified as (i) partnerships for United States federal income tax purposes if owned by more than one Person or (ii) entities disregarded as separate from the Company for United States federal income tax purposes if owned solely by the Company. The Company shall take all steps as may be required to maintain the Company's and the Subsidiaries' classifications, as described in the immediately preceding sentence, for United States federal income tax purposes, including, if necessary, affirmatively filing IRS Form 8832s. The Tax Matters Member shall, if necessary, for and on behalf of the Company, file an IRS Form 8832 no later than seventy-five (75) days after the effective date of this Agreement to maintain the Company's classification as a partnership for United States federal income tax purposes. By executing this Agreement, each of the parties hereto consents to the authority of the Tax Matters Member to make any such election and shall cooperate in the making of such election (including providing consents and other authorizations that may be required).
Classification as a Partnership. Each of the Loan Parties that is a Partnership Loan Party is properly classified as a partnership for federal income tax purposes.
Classification as a Partnership. (a) The Members intend that the Company be classified as a partnership for Federal tax purposes effective as of the date of this Agreement. The Tax Matters Person shall not file an election for the Company to be taxable as an association, shall take all steps as may be required to maintain the Company's classification as a partnership for Federal tax purposes, and shall take all steps that are not unduly burdensome, as determined by the Executive Committee, as may be required to maintain the Company's classification as a partnership for state tax purposes.
Classification as a Partnership. The General Partner (a) shall not cause or permit the Partnership to elect (i) to be excluded from the provisions of Subchapter K of Chapter 1 of the Code or (ii) to be treated as a corporation for U.S. federal income tax purposes; (b) shall cause the Partnership to make any election reasonably determined to be necessary or appropriate in order to ensure the treatment of the Partnership as a partnership for U.S. federal income tax purposes; (c) shall cause the Partnership to file any required tax returns in a manner consistent with its treatment as a partnership for U.S. federal income tax purposes; and (d) has not taken, and shall not take, any action that would be inconsistent with the treatment of the Partnership as a partnership for such purposes. Each other Partner also has not taken, and will not take, any action that would be inconsistent with the treatment of the Partnership as a partnership for U.S. federal income tax purposes.
Classification as a Partnership. The parties hereto intend that the Company be classified as a partnership for federal tax purposes effective as of the date of this Agreement. The tax matters partner shall not file an election for the Company to be taxable as an association, and shall, for and on behalf of the Company, take all steps as may be required to maintain the Company’s classification as a partnership for federal tax purposes. By executing this Agreement, each of the parties hereto consents to the authority of the tax matters partner to make any such election and shall cooperate in the making of such election (including providing consents and other authorizations that may be required).
