Common use of Federal Tax Exemption Clause in Contracts

Federal Tax Exemption. Affiliate shall obtain and maintain tax-exempt status from the United States Internal Revenue Service under Section 501(c) of the Internal Revenue Code ("IRC") and operate its affairs in accordance with the IRC and State tax laws, including annual filings of IRS Form 990 tax return, and such other tax returns required by the State of its incorporation

Federal Tax Exemption. Affiliate shall obtain and maintain tax-exempt status from the United States Internal Revenue Service under Section 501(c) of the Internal Revenue Code ("IRC") and operate its affairs in accordance with the IRC and State tax laws, including annual filings of IRS Form 990 tax return, and such other tax returns required by the State of its incorporation.