Compliance with Subchapter K Clause Samples
Compliance with Subchapter K. Notwithstanding anything to the contrary in this Agreement, in the discretion of the Managing Member, with the consent of the Holdings Member, the Company may diverge from the allocations described herein as may be necessary or appropriate to comply with the provisions of subchapter K of the Code and the Treasury Regulations promulgated thereunder.
Compliance with Subchapter K. The provisions of this Article which relate to allocations of tax items to Members are intended and, if necessary, shall be modified to conform to the provisions of the Internal Revenue Code and the Treasury Regulations which apply to PARTNERS AND PARTNERSHIPS.