Federal Income Tax Elections. In the event of a Transfer of all or any portion of the Units of any Member, the Company may elect (by action of the Board) pursuant to Section 754 of the Code to adjust the basis of assets of the Company upon written request of the transferee.
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Samples: Limited Liability Company Agreement (Q2Earth Inc.), Limited Liability Company Agreement (Q2Earth Inc.)
Federal Income Tax Elections. In the event of a Transfer transfer of all or any portion part of the Units interest of any Memberthe Member in the Company, the Company may elect (by action of the Board) pursuant to Section 754 of the Code (or any similar provision enacted in lieu thereof) to adjust the basis of the assets of the Company upon written request of the transferee, unless such election would have a materially unfavorable effect upon any of the Members.
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Samples: Operating Agreement (Travelcenters Realty Inc), Operating Agreement (Travelcenters of America Inc)
Federal Income Tax Elections. In the event of a Transfer transfer of all or any portion of the Units Membership Interest of any Member, the Company may elect (by action a majority of the Boardpercentage interest of the remaining members) pursuant to Section 754 of the Code to adjust the basis of assets of the Company upon written request of the transferee.
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