Common use of Settlement Agreements Clause in Contracts

Settlement Agreements. The Tax Matters Member or Company Representative (as applicable) shall not enter into any extension of the period of limitations for making assessments on behalf of the Members without first obtaining the consent of the Board. The Tax Matters Member or Company Representative (as applicable)shall not bind any Member to a settlement agreement without obtaining the consent of such Member. Any Member that enters into a settlement agreement with respect to any Company item (within the meaning of Code Section 6231(a)(3)) shall notify the other Members of any such settlement agreement and its terms within ninety (90) days from the date of the settlement.

Settlement Agreements. The Tax Matters Member or Company Representative (as applicable) shall not enter into any extension of the period of limitations for making assessments on behalf of the Members without first obtaining the consent of the BoardManaging Member. The Tax Matters Member or Company Representative (as applicable)shall applicable) shall not bind any Member to a settlement agreement without obtaining the consent of such Member. Any Member that enters into a settlement agreement with respect to any Company item (within the meaning of Code Section 6231(a)(3)) shall notify the other Members of any such settlement agreement and its terms within ninety (90) days from the date of the settlement.