Sale or Assignment. The Members agree that if either one of them makes a sale or assignment of its Ownership Interest under the Agreement, and such sale or assignment causes a termination under Section 708(b)(1)(B) of the Code, the terminating Member shall indemnify the non-terminating Member and save it harmless on an after-tax basis for any increase in taxes to the non-terminating Member caused by the termination of the Company.
Appears in 4 contracts
Samples: Limited Liability Company Agreement, Operating Agreement (Golden Phoenix Minerals Inc), Operating Agreement (Western Goldfields Inc)
Sale or Assignment. The Members agree that if either one of them makes a sale or assignment of its Ownership Interest under the AgreementMembership Interest, and such sale or assignment causes a termination under Section 708(b)(1)(B) of the Code, the terminating Member shall indemnify the non-terminating Member and save it harmless on an after-tax basis for any increase in taxes to the non-terminating Member caused by the termination of the Company.
Appears in 2 contracts
Samples: Asset Purchase Agreement (Kinross Gold Corp), Limited Liability Company Agreement (General Moly, Inc)
Sale or Assignment. The Members agree that if either one of them makes a sale or assignment of its Ownership Interest under the Agreement, and such sale or assignment causes a termination under Section 708(b)(1)(B) of the Code, the terminating Member shall indemnify the non-terminating Member and save it harmless on an after-tax basis for any increase in taxes to the non-terminating Member caused by the termination of the Company.. EXHIBIT C Page 11 of 11 To EXPLORATION, DEVELOPMENT AND MINING LIMITED LIABILITY COMPANY OPERATING AGREEMENT By And Between
Appears in 1 contract
Sale or Assignment. The Members agree that if either one of them If a Member makes a sale or assignment of its Ownership Interest under the Agreement, and such sale or assignment causes a termination under Section 708(b)(1)(B708(b) (1) (B) of the Code, the terminating Member shall indemnify the non-terminating Member and save it harmless on an after-tax basis for any increase in taxes to the non-terminating Member caused by the termination such termination. "Affiliate" means any person, partnership, limited liability company, joint venture, corporation, or other form of the Companyenterprise which Controls, is Controlled by, or is under common Control with a Member.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Uranium Energy Corp)
Sale or Assignment. The Members agree that if either one of them If a Member makes a sale or assignment of its Ownership Interest under the Agreement, and such sale or assignment causes a termination under Section 708(b)(1)(B708(b) (1) (B) of the Code, the terminating Member shall indemnify the non-terminating Member and save it harmless on an after-tax basis for any increase in taxes to the non-terminating Member caused by the termination such termination. EXHIBIT D to LIMITED LIABILITY COMPANY OPERATING AGREEMENT of the Company.CIBOLA RESOURCES LLC DEFINITIONS
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Sale or Assignment. The Members agree that if either one of them makes a sale or assignment of its Ownership Membership Interest under the Agreement, and such sale or assignment causes a termination under Section 708(b)(1)(B) of the Code, the terminating Member shall indemnify the non-terminating Member and save it harmless on an after-tax basis for any increase in taxes to the non-terminating Member caused by the termination of the Company.
Appears in 1 contract
Samples: Exploration, Development & Mine Operating Agreement (Crosshair Exploration & Mining Corp)
