Common use of Compliance with Applicable Federal Tax Laws Clause in Contracts

Compliance with Applicable Federal Tax Laws. The manner in which the capital account of Member is to be maintained pursuant to this Article III of this Agreement is intended to comply with the requirements of all applicable federal tax laws. If in the opinion of Member the manner in which capital accounts are to be maintained pursuant to this Article Ill of this Agreement should be modified in order to comply with the applicable federal tax laws, then notwithstanding anything contained in this Agreement to the contrary, Member shall alter the method in which the capital accounts are maintained and amend this Agreement to reflect any such change in the manner in which capital accounts are maintained.

Compliance with Applicable Federal Tax Laws. The manner in which the capital account accounts of Member is the Members are to be maintained pursuant to this Article III of this Agreement is intended to comply with the requirements of all applicable federal tax laws. If in the opinion of Member all of a majority in interest of the Voting Members the manner in which capital accounts are to be maintained pursuant to this Article Ill III of this Agreement should be modified in order to comply with the applicable federal tax laws, then notwithstanding anything contained in this Agreement to the contrary, Member the Voting Members shall alter the method in which the capital accounts are maintained and amend this Agreement to reflect any such change in the manner in which capital accounts are maintained; provided, however, that any change in the manner of maintaining capital accounts shall not materially alter the economic agreement between the Members.

Compliance with Applicable Federal Tax Laws. The manner in which the capital account accounts of Member is the Members are to be maintained pursuant to this Article III of this Agreement is intended to comply with the requirements of all applicable federal tax laws. If in the opinion of Member a majority in interest of the Members the manner in which capital accounts are to be maintained pursuant to this Article Ill III of this Agreement should be modified in order to comply with the applicable federal tax laws, then notwithstanding anything contained in this Agreement to the contrary, Member the Members shall alter the method in which the capital accounts are maintained and amend this Agreement to reflect any such change in the manner in which capital accounts are maintained; provided, however, that any change in the manner of maintaining capital accounts shall not materially alter the economic agreement between the Members.