Consent to Patronage Capital Distributions. Borrower hereby consents that the amount of any distributions with respect to Borrower's patronage which are made in written notices of allocation (as defined in Section 1388 of the Internal Revenue Code of 1986, as amended ("Code") including any other comparable successor provision) and which are received from Lender will be taken into account by Borrower at their stated dollar amounts in the manner provided in Section 1385(a) of the Code in the taxable year in which such written notices of allocation are received.
Appears in 10 contracts
Samples: Loan Agreement (Dakota Cooperative Telecommunications Inc), Loan Agreement (Dakota Telecommunications Group Delaware Inc), Loan Agreement (Dakota Cooperative Telecommunications Inc)
Consent to Patronage Capital Distributions. The Borrower hereby consents that the amount of any distributions with respect to Borrower's patronage which are made in written notices of allocation (as defined in Section 1388 of the Internal Revenue Code of 1986, as amended ("Code") including any other comparable successor provision) and which are received from Lender will be taken into account by Borrower at their stated dollar amounts in the manner provided in Section 1385(a) of the Code in the taxable year in which such written notices of allocation are received.
Appears in 5 contracts
Samples: Loan Agreement (Madison River Capital LLC), Loan Agreement (Madison River Capital LLC), Loan Agreement (Madison River Capital LLC)
Consent to Patronage Capital Distributions. Borrower hereby consents that the amount of any distributions with respect to Borrower's patronage which are made in written notices of allocation (as defined in Section 1388 of the Internal Revenue Code of 1986, as amended ("Code") including any other comparable successor provision) and which are received from Lender RTFC will be taken into account by Borrower at their stated dollar amounts in the manner provided in Section 1385(a) of the Code in the taxable year in which such written notices of allocation are received.
Appears in 2 contracts
Samples: Term Equipment Financing Loan Substitute Agreement (Illuminet Holdings Inc), Secured Intermediate Term Equipment Financing Loan Substitute Agreement (Illuminet Holdings Inc)
Consent to Patronage Capital Distributions. Borrower hereby consents that the amount of any distributions with respect to Borrower's patronage which are made in written notices of allocation (as defined in Section 1388 of the Internal Revenue Code of 1986, as amended ("Code") ), including any other comparable successor provision) and which are received from Lender will be taken into account by Borrower at their stated dollar amounts in the manner provided in Section 1385(a) of the Code in the taxable year in which such written notices of allocation are received.
Appears in 2 contracts
Samples: Loan Agreement (Illuminet Holdings Inc), Loan Agreement (Illuminet Holdings Inc)
Consent to Patronage Capital Distributions. The Borrower ------------------------------------------ hereby consents that the amount of any distributions with respect to Borrower's patronage which are made in written notices of allocation (as defined in Section 1388 of the Internal Revenue Code of 1986, as amended ("Code") including any other comparable successor provision) and which are received from Lender will be taken into account by Borrower at their stated dollar amounts in the manner provided in Section 1385(a) of the Code in the taxable year in which such written notices of allocation are received.
Appears in 1 contract
