Common use of Internal Revenue Provision Clause in Contracts

Internal Revenue Provision. Notwithstanding any provision in this Agreement to the effect that the rights and liabilities of the Parties are several, not joint or collective, and that this Agreement and the activities and operations under this Agreement do not constitute a partnership under state law, each Party elects not to be excluded from the application of Subchapter K, Chapter 1, Subtitle A, Internal Revenue Code of 1986, as amended, and similar provisions of applicable state laws. The tax partnership shall be governed by Exhibit “J.”

Appears in 3 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

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Internal Revenue Provision. Notwithstanding any provision in this Agreement to the effect that the rights and liabilities of the Parties are several, not joint or collective, and that this the Agreement and the activities and operations under this Agreement do not constitute a partnership under state law, each Party elects not to be excluded from the application of all or any part of the provisions of Subchapter K, Chapter 1, Subtitle A, of the Internal Revenue Code of 1986, as amended, and or similar provisions of applicable state laws. The regardless of whether for federal income tax partnership shall be governed by Exhibit “J.”purposes this Agreement and the activities and operations under this Agreement are regarded as a partnership.

Appears in 2 contracts

Samples: Operating Agreement (Anadarko Petroleum Corp), Ratification and Joinder of Operating Agreement (Anadarko Petroleum Corp)

Internal Revenue Provision. Notwithstanding any provision in this Agreement to the effect that the rights and liabilities of the Parties are several, not joint or collective, and that this the Agreement and the activities and operations under this Agreement do not constitute a partnership under state law, each Party elects not to be excluded from the application of all or any part of the provisions of Subchapter K, Chapter 1, Subtitle A, of the Internal Revenue Code of 1986, as amended, and or similar provisions of applicable state laws. The laws regardless of whether for federal income tax partnership shall be governed by Exhibit “J.”purposes this Agreement and the activities and operations under this Agreement are regarded as a partnership.

Appears in 1 contract

Samples: Offshore Operating Agreement (Ridgewood Energy P Fund LLC)

Internal Revenue Provision. Notwithstanding any provision in this Agreement to the effect that the rights and liabilities of the Parties are several, not joint or collective, and that this Agreement and the activities and operations under this Agreement do not constitute a partnership under state law, each Party elects not to be excluded from the application of Subchapter K, Chapter 1, Subtitle A, Internal Revenue Code of 1986, as amended, and similar provisions of applicable state laws. The tax partnership shall be governed by Exhibit “J.” Other Taxes and Assessments

Appears in 1 contract

Samples: Operating Agreement

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Internal Revenue Provision. Notwithstanding any provision in this Agreement to the effect provisions herein that the rights and liabilities of the Parties are several, several and not joint or collective, and or that this Agreement and the activities and operations under this Agreement do hereunder shall not constitute a partnership under state lawpartnership, each Party elects not to be excluded from the application of Subchapter K, Chapter 1, Subtitle A, Internal Revenue Code of 1986, as amended, and similar provisions of applicable state laws. The tax partnership shall be governed by Exhibit “J.”F” .

Appears in 1 contract

Samples: Operating Agreement (Velocity Oil & Gas, Inc.)

Internal Revenue Provision. Notwithstanding any provision in this Agreement to the effect that the rights and liabilities of the Parties are several, not joint or collective, and that this the Agreement and the activities and operations under this Agreement do not constitute a partnership under state law, each Party elects to not to be excluded from the application of all or any part of the provisions of Subchapter K, Chapter 1, Subtitle A, of the Internal Revenue Code of 1986, as amended, and or similar provisions of applicable state laws. The laws regardless of whether for federal income tax partnership shall be governed by Exhibit “J.”purposes this Agreement and the activities and operations under this Agreement are regarded as a partnership.

Appears in 1 contract

Samples: Offshore Operating Agreement (Ridgewood Energy P Fund LLC)

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