Elections and Modifications to Allocations Sample Clauses

Elections and Modifications to Allocations. The Manager shall prepare and execute any amendments to this Agreement necessary for the Company to comply with the provisions of Treas Reg 1.704-1(b), 1.704-2, and 1.704-3 on the happening of any of the following events: (i) incurring any liability that constitutes a “nonrecourse liability” as defined in Treas Reg 1.704-2(b)(3) or a “partnership nonrecourse debt” as defined in Treas Reg 1.704-2(b)(4); (ii) a constructive termination of the Company pursuant to IRC 708(b)(1)(B); or (iii) the contribution or distribution of any property, other than cash, to or by the Company. The Manager may cause the Company to elect, pursuant to IRC 754, to adjust the basis of the Company assets as provided by IRC 743 or 734 and the Treasury Regulations thereunder. The Company shall make such elections for federal income tax purposes as may be determined by the Managers, acting in their sole and absolute discretion.
Sample 1
AutoNDA by SimpleDocs

Related to Elections and Modifications to Allocations

  • Modifications and Rectifications to Coverage 1. A Party may make rectifications of a purely formal nature to its coverage under this Chapter, or minor amendments to its Schedules in Annex XVI, provided that it notifies the other Parties in writing and no Party objects in writing within 45 days from the receipt of the notification. A Party that makes such a rectification or minor amendment need not provide compensatory adjustments to the other Parties.

  • Modifications to Service This Auction Site reserves the right to modify or discontinue the Service with or without notice to user. This Auction Site shall not be liable to users or any third party should this Auction Site exercise its right to modify or discontinue the Service.

  • Modifications to Agreement You acknowledge that the practice of registering and administering domain names is constantly evolving; therefore, you agree that Tucows may modify this Agreement, or any other related and/or applicable agreement, as is necessary to comply with its agreements with ICANN, a registry or any other entity or individual, as well as to adjust to changing circumstances. Your continued use of the domain name registered to you will constitute your acceptance of this Agreement with any revisions. If you do not agree to any change, you may request that your domain name registration be cancelled or transferred to a different accredited registrar. You agree that such cancellation or request for transfer will be your exclusive remedy if you do not wish to abide by any change to this Agreement, or any other related and/or applicable agreement.

  • Amendments and Modifications Upon the written consent of the Company and the Holders of at least a majority in interest of the Registrable Securities at the time in question, compliance with any of the provisions, covenants and conditions set forth in this Agreement may be waived, or any of such provisions, covenants or conditions may be amended or modified; provided, however, that notwithstanding the foregoing, any amendment hereto or waiver hereof that adversely affects one Holder, solely in his, her or its capacity as a holder of the shares of capital stock of the Company, in a manner that is materially different from the other Holders (in such capacity) shall require the consent of the Holder so affected. No course of dealing between any Holder or the Company and any other party hereto or any failure or delay on the part of a Holder or the Company in exercising any rights or remedies under this Agreement shall operate as a waiver of any rights or remedies of any Holder or the Company. No single or partial exercise of any rights or remedies under this Agreement by a party shall operate as a waiver or preclude the exercise of any other rights or remedies hereunder or thereunder by such party.

  • Minor Modifications A. The following may be administratively authorized as minor modifications to this Agreement:

  • Waivers and Modifications Any modification or waiver of the insurance requirements herein shall be made only with the written approval of the District’s Risk Manager.

  • Cost Modifications The parties may agree to a reduction in the cost of the Contract at any time during which the Contract is in effect. Without intending to impose a limitation on the nature of the reduction, the reduction may be to hourly, staffing or unit costs, the total cost of the Contract or the reduction may take such other form as the State deems to be necessary or appropriate.

  • Amendments/Modifications This Agreement may not be modified, altered or amended except by an agreement in writing executed by all of the parties hereto.

  • Budget Modifications The total Approved Budget and the assignment of costs may be adjusted based on implementation of the Scope of Work, spending patterns, and unexpended funds, but only by an amendment to the Approved Budget. In no event shall an amendment to the Approved Budget result in payments in excess of the aggregate amount specified in Section 2.01 “Award of Monies” or in approved supplemental funding for the Project, if any. The RECIPIENT may make transfers between or among lines within budget categories without prior written approval provided that:

  • TERMINATION AND MODIFICATION A. This Agreement shall continue in full force and effect until 11:59 p.m., June 30, 2023.

Time is Money Join Law Insider Premium to draft better contracts faster.