Common use of Classification as a Partnership Clause in Contracts

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. It is the intention of all of the Members that the Company be classified as a partnership for federal, purposes of federal and 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 not make any election for the Company nor to be excluded from the application of the provisions of subchapter K of chapter 1 of subtitle A of the Code or any Member shall take any action similar provisions of applicable state law or position that is inconsistent with this intentionto be classified as other than a partnership pursuant to Regulations Section 301.7701-3.

Classification as a Partnership. It is the intention of all of the Members that The parties hereto intend the Company to be classified as a partnership for federal, state and local income tax purposes for so long effective as such a classification is permitted by lawof the date of this Agreement. The Company shall take whatever action (or refrain from taking) such actions as may be necessary to carry out this intention, receive and neither maintain such treatment and refrain from taking any actions inconsistent therewith. Each Member agrees to refrain from taking any actions inconsistent with such classification without the written consent of the Company nor any Member shall take any action or position that is inconsistent with this intentionBoard.