Common use of No Partnership Intended for Non-Tax Purposes Clause in Contracts

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention to form a partnership under any act or laws of any state. The Members do not intend to be partners one to another or partners as to any third party except for tax purposes. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 25 contracts

Samples: Operating Agreement, Operating Agreement, Operating Agreement

AutoNDA by SimpleDocs

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Actapplicable law, and expressly disavow any intention do not intend to form a partnership under any act or laws of any state. The Members do not intend to be partners one to another or partners as to any third party except for tax purposesa limited partnership. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Beazer Homes, LLC), Operating Agreement (Beazer Homes Sales, Inc), Operating Agreement (Beazer Homes Sales, Inc)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend to form a partnership under any act or laws of any state. The Members do not intend to be partners one to another or partners as to any third party except for tax purposesa limited partnership. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 4 contracts

Samples: Operating Agreement (Beazer Homes Texas Lp), Operating Agreement (Beazer Homes Texas Lp), Operating Agreement (Clarksburg Skylark, LLC)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a general or limited partnership under any act or laws of any stateapplicable law. The Members do not intend to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person Person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall will be liable to any other Member who incurs personal liability by reason of such wrongful representation. The foregoing shall not apply to the determination of the Company’s status as a partnership for purposes of the Code.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Colony Resorts LVH Acquisitions LLC), Limited Liability Company Agreement (American Casino & Entertainment Properties LLC), Limited Liability Company Agreement (Colony Resorts LVH Acquisitions LLC)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention to form a partnership under any the partnership act or laws of any state. The Members do not intend to be partners one to another or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 3 contracts

Samples: Operating Agreement (Sligo Partners LLC), Operating Agreement (Pacific Partners LLC), Operating Agreement (Sligo Partners LLC)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a partnership under any act or laws of any stateeither the State Uniform Partnership Act nor the State Uniform Limited Partnership Act. The Members do not intend to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC), Limited Liability Company Operating Agreement (Charter Equipment Lease 1998-1 LLC)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a partnership under any act or laws law of any statestate (other than for income tax purposes), but do intend to qualify as a partnership for tax purposes. The Members do not intend to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 2 contracts

Samples: Operating Agreement (ResCare Finance, Inc.), Operating Agreement (THM Homes Inc)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a partnership under any act or laws of any statea limited partnership. The Members do not intend to form a partnership or to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent that any Member, by word or action, Member in any way represents to another person that any other Member is a partner or that the Company is a partnership, the such Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representationmisrepresentation.

Appears in 1 contract

Samples: Operating Agreement (Calumet Superior, LLC)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under pursuant to the Act, Act and expressly disavow any intention do not intend to form a partnership under any act or laws of any statea limited partnership. The Members do not intend to be partners to one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person Person that any other Member is a partner or that the Company is a partnership or a limited partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 1 contract

Samples: Operating Agreement

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company Trust under the Act, and expressly disavow any intention to form a partnership under any act or laws of any state. The Members do not intend to be partners one to another or partners as to any third party except for tax purposes. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company Trust is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 1 contract

Samples: Operating Agreement

AutoNDA by SimpleDocs

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company LLC as a limited liability company under the Act, Act and expressly disavow any intention do not intend to form a partnership under any act partnership or laws of any statelimited partnership act. The Members do not intend to be partners one to another with each other or partners as to with any third party except Third Party other than for federal and state income tax purposes. To the extent If any Member, by word or action, Member represents to another person that the Member or any other Member is a partner or that the Company LLC is a partnership, the Member making such the wrongful representation shall will be liable to any other Member who incurs personal liability by reason because of such wrongful the erroneous representation.

Appears in 1 contract

Samples: Operating Agreement

No Partnership Intended for Non-Tax Purposes. The Members have formed -------------------------------------------- the Company under pursuant to the Act, and expressly disavow any intention do not intend to form a partnership under any act or laws of any statea limited partnership. The Members do not intend to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 1 contract

Samples: Operating Agreement (Shiloh Industries Inc)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a partnership under any act or laws of any stateeither the State Uniform Partnership Act nor the State Uniform Limited Partnership Act. The Members do not intend to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 1 contract

Samples: Operating Agreement (Advanta Business Services Corp)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a partnership under any act general or laws of any statelimited partnership, a limited liability partnership, or a corporation. The Members do not intend to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent any Member, by word or action, represents to another person Person that any other Member is a partner or that the Company is a partnership, the Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representation.

Appears in 1 contract

Samples: Operating Agreement (Tribus Enterprises, Inc.)

No Partnership Intended for Non-Tax Purposes. The Members have formed the Company under the Act, and expressly disavow any intention do not intend hereby to form a partnership under any act or laws of any statea limited partnership. The Members do not intend to form a partnership or to be partners one to another another, or partners as to any third party except for tax purposesparty. To the extent indent that any Member, by word or action, Member in any way represents to another person that any other Member is a partner or that the Company is a partnership, the such Member making such wrongful representation shall be liable to any other Member who incurs personal liability by reason of such wrongful representationmisrepresentation.

Appears in 1 contract

Samples: Operating Agreement (Calumet Superior, LLC)

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!