Entity Declaration. Notwithstanding any provisions herein to the contrary, each of the Unit Holders and Managers hereby recognizes that the Company will be taxable as a partnership for federal, state and local income tax purposes and that the Company will be subject to the provisions of Subchapter K of the Code. Other than for tax purposes, the Company shall not be treated as a general partnership, limited partnership or a joint venture, and no Member shall be considered a partner or joint venturer of or with any other Member, and this Operating Agreement shall not be construed otherwise. No Member shall have any liability or obligation to the Company or to any other Member other than as specifically provided for herein. EXHIBIT 2 to Offering Circular/Opening Night Enterprises, LLC/Operating Agreement 17
Appears in 4 contracts
Samples: Operating Agreement (Opening Night Enterprises, LLC), Operating Agreement (Opening Night Enterprises, LLC), Operating Agreement (Opening Night Enterprises, LLC)
Entity Declaration. Notwithstanding any provisions herein to the contrary, each of the Unit Holders and Managers hereby recognizes that the Company will be taxable as a partnership for federal, state and local income tax purposes and that the Company will be subject to the provisions of Subchapter K of the Code. Other than for tax purposes, the Company shall not be treated as a general partnership, limited partnership or a joint venture, and no Member shall be considered a partner or joint venturer of or with any other Member, and this Operating Agreement shall not be construed otherwise. No Member shall have any liability or obligation to the Company or to any other Member other than as specifically provided for herein. EXHIBIT 2 to Offering Circular/Opening Night Enterprises, LLC/Operating Agreement 17- 11/30/2017
Appears in 1 contract
Samples: Operating Agreement (Opening Night Enterprises, LLC)
Entity Declaration. Notwithstanding any provisions herein to the contrary, each of the Unit Holders and Managers hereby recognizes that the Company will be taxable as a partnership for federal, state and local income tax purposes and that the Company will be subject to the provisions of Subchapter K of the Code. Other than for tax purposes, the Company shall not be treated as a general partnership, limited partnership or a joint venture, and no Member shall be considered a partner or joint venturer of or with any other Member, and this Operating Agreement shall not be construed otherwise. No Member shall have any liability or obligation to the Company or to any other Member other than as specifically provided for herein. EXHIBIT 2 to Offering Circular/Opening Night Enterprises, LLC/Operating Agreement 17Agreement
Appears in 1 contract
Samples: Operating Agreement (Opening Night Enterprises, LLC)