Common use of Payments to the Company Clause in Contracts

Payments to the Company. If the Company receives proceeds in respect of which a tax has been withheld, the Company shall be treated as having received cash in an amount equal to the amount of such withheld tax, and, for all purposes of this Agreement, each Member shall be treated as having received a distribution pursuant to Section 8.01 equal to the portion of the withholding tax allocable to such Member, as reasonably determined by a majority of the Board of Managers. In the event that the Company receives a refund of taxes previously withheld by a third party from one or more payments to the Company, the economic benefit of such refund shall be apportioned among the Members in a manner reasonably determined by a majority of the Board of Managers to offset the prior operation of this Section 7.07(a) in respect of such withheld taxes.

Payments to the Company. If the Company receives proceeds in respect of which a tax has been withheldwithheld in respect of one or more particular Members, the Company shall be treated as having received cash in an amount equal to the amount of such withheld tax, and, for all purposes of this Agreement, subject to Section 5.6(d), each such Member shall be treated as having received a distribution pursuant to Section 8.01 equal to the portion of the withholding tax allocable to in respect of which Member such Member, as reasonably determined by a majority of the Board of Managerswithholding was made. In the event that the Company receives a refund of taxes previously withheld by a third party from one or more payments to the Company, the economic benefit of such refund shall be apportioned among the Members in a manner reasonably determined by a majority of the Board of Managers Managing Member to offset the prior operation of this Section 7.07(a5.6(a) in respect of such withheld taxes.