Common use of Code Section 83 Safe Harbor Election Clause in Contracts

Code Section 83 Safe Harbor Election. (a) By executing this Agreement, each Unitholder authorizes and directs the LLC to elect to have the “Safe Harbor” described in the proposed Revenue Procedure set forth in Internal Revenue Service Notice 2005-43 (the “Notice”) apply to any interest in the LLC transferred to a service provider by the LLC on or after the effective date of such Revenue Procedure in connection with services provided to the LLC. For purposes of making such Safe Harbor election, the Tax Matters Partner is hereby designated as the “partner who has responsibility for federal income tax reporting” by the LLC and, accordingly, execution of such Safe Harbor election by the Tax Matters Partner constitutes execution of a “Safe Harbor Election” in accordance with Section 3.03(1) of the Notice. The LLC and each Unitholder hereby agree to comply with all requirements of the Safe Harbor described in the Notice, including the requirement that each Unitholder shall prepare and file all federal income tax returns reporting the income tax effects of each interest in the LLC issued by the LLC covered by the Safe Harbor in a manner consistent with the requirements of the Notice.

Code Section 83 Safe Harbor Election. (a) 5.6.1 By executing this Agreement, each Unitholder Member authorizes and directs the LLC Company to elect to have the “Safe Harbor” described in the proposed Revenue Procedure set forth in Internal Revenue Service Notice 2005-43 (the “Notice”) apply to any interest in the LLC Company transferred to a service provider by the LLC Company on or after the effective date of such Revenue Procedure in connection with services provided to the LLCCompany. For purposes of making such Safe Harbor election, the Tax Matters Partner Managing Member is hereby designated as the “partner who has responsibility for U.S. federal income tax reporting” by the LLC Company and, accordingly, execution of such Safe Harbor election by the Tax Matters Partner Managing Member constitutes execution of a “Safe Harbor Election” in accordance with Section 3.03(1) of the Notice. The LLC Company and each Unitholder Member hereby agree agrees to comply with all requirements of the Safe Harbor described in the Notice, including the requirement that each Unitholder Member shall prepare and file all U.S. federal income tax returns reporting the income tax effects of each interest in the LLC Safe Harbor Company Interest issued by the LLC covered by the Safe Harbor Company in a manner consistent with the requirements of the Notice.

Code Section 83 Safe Harbor Election. (a) By executing this Agreement, each Unitholder authorizes and directs the LLC Company to elect to have the “Safe Harbor” described in the proposed Revenue Procedure set forth in Internal Revenue Service Notice 2005-2005 43 (the “Notice”) apply to any interest in the LLC Company transferred to a service provider by the LLC Company on or after the effective date of such Revenue Procedure in connection with services provided to the LLCCompany. For purposes of making such Safe Harbor election, the Tax Matters Partner is hereby designated as the “partner who has responsibility for federal income tax reporting” by the LLC Company and, accordingly, execution of such Safe Harbor election by the Tax Matters Partner constitutes execution of a “Safe Harbor Election” in accordance with Section 3.03(1) of the Notice. The LLC Company and each Unitholder hereby agree agrees to comply with all requirements of the Safe Harbor described in the Notice, including including, without limitation, the requirement that each Unitholder shall prepare and file all federal income tax returns reporting the income tax effects of each interest in the LLC Company issued by the LLC Company covered by the Safe Harbor in a manner consistent with the requirements of the Notice.