Guaranteed Payments. To the extent any compensation paid to any Member by the Company, including any fees payable to any Member pursuant to Section 5.3 hereof, is determined by the Internal Revenue Service not to be a guaranteed payment under Code Section 707(c) or is not paid to the Member other than in the Person’s capacity as a Member within the meaning of Code Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member’s Capital Account shall be adjusted to reflect the payment of that compensation.
Guaranteed Payments. The General Partners will have the authority to pay to any one or more of the Partners a guaranteed payment, within the meaning of Code Section 707(c), for a Partner’s performance of services and/or for the use of capital and that is determined without regard to the income of the Partnership. The General Partners may make such a payment in such amount, under such circumstances, and for such services rendered by the Partner to the Partnership and/or for the furnishing of the use of capital by the Partner to the Partnership as the General Partners, in their sole discretion, may decide subject only to their Fiduciary Duty as provided below in this Agreement. The Partnership will issue such forms as are required to confirm the income tax treatment of such payments as an income tax deduction to the Partnership and as taxable income to the Partner.
Guaranteed Payments. Any payment to a Member for services rendered by the Company which is not governed for all purposes by an agreement other than this Agreement shall be deemed to be a "guaranteed payment" described in and governed by Section 707(c) of the Code.
Guaranteed Payments. The amounts payable to a Preferred Partner pursuant to Section 8.1 shall be treated by such holder and the Company as "guaranteed payments" under Section 707(c) of the Code.
Guaranteed Payments. Notwithstanding the foregoing, in the event ------------------- that any fees, interest, or other amounts paid or payable to any Member are deducted by the Company in reliance on Sections 707(a) or 707(c) of the Code, and such fees, interest, or other amounts are disallowed as deductions to the Company and are recharacterized as Company distributions, there shall be allocated to such Member, prior to the allocations provided in Section 8.1, an amount of Company gross income for the year in which such fees, interest, or other amounts are treated as Company distributions equal to such fees, interest, or other amounts so treated as distributions.
Guaranteed Payments. MP will pay ICQ a non-refundable guaranteed payment of Nine Million Dollars ($9,000,000) (the "Guaranteed Payment Amount") as follows:
Guaranteed Payments. To the extent any compensation paid to any Member by the Company, is determined by the Internal Revenue Service not to be a guaranteed payment under IRC Section 707(c) or is not paid to the Member other than in the Person's capacity as a partner (Member) within the meaning of IRC Section 707(a), the Member shall be specially allocated gross income of the Company in an amount equal to the amount of that compensation, and the Member's Capital Account shall be adjusted to reflect the payment of that compensation.
Guaranteed Payments. Any payment of salary, bonus or taxable fringe benefits made by the Partnership or its Subsidiaries to a Partnership Unit Holder shall be treated as a “guaranteed payment” under Section 707(c) of the Code. For the avoidance of doubt, distributions to the Preferred Unit Holders shall not be treated as “guaranteed payments” under Section 707(c) of the Code.
Guaranteed Payments. (i) For each Taxable Year for which the Company has a Loss, the Company shall accrue for such Taxable Year, as a guaranteed payment for the use of capital of the Class A Members under Code section 707(c), the amount of the Preferred Distribution to be made to the Class a Members for such Taxable Year.
Guaranteed Payments. Not later than sixty (60) days following the termination of Xx. Xxxxxxxxxx’x employment, regardless of the reason or timing of the termination, Immunomedics will make payment to Xx. Xxxxxxxxxx for all annual Base Salary, Bonus, Minimum Payments, and Additional Incentive Compensation earned through the date of termination, any benefits accrued in accordance with the terms of any applicable benefit plans and programs of the Company (including but not limited to earned but unused vacation), and will continue all payments pursuant to Section 4.2(a)(ii) and 4.2(b) for the time periods provided in those sections of this Agreement (collectively, “Guaranteed Payments”). There are no preconditions to Immunomedics’ obligation to pay, and to Xx. Xxxxxxxxxx’x right to receive, Guaranteed Payments under this Section 13(b) of this Agreement.
