Tax Allocations Binding Sample Clauses
The 'Tax Allocations Binding' clause establishes that the method of allocating tax items among parties, as set forth in the agreement, is final and enforceable. In practice, this means that the parties must adhere to the agreed-upon approach for dividing income, deductions, credits, or other tax attributes, regardless of how tax authorities might treat these items. This clause ensures consistency and prevents disputes by making the allocation method contractually binding, thereby providing certainty and reducing the risk of future disagreements over tax matters.
Tax Allocations Binding. The Members acknowledge that they are aware of the tax consequences of the allocations made by this Section 6.3 and hereby agree to be bound by the provisions of this Section 6.3 in reporting their respective shares of items of Company income, gain, loss, deduction and expense.
Tax Allocations Binding. The Partners acknowledge that they are aware of the tax consequences of the allocations made by this Section 5.3 and hereby agree to be bound by the provisions of this Section 5.3 in reporting their respective shares of items of Partnership income, gain, loss, deduction and expense.
Tax Allocations Binding. The Members are aware of the income tax consequences of the allocations made by this Article IX and hereby agree to be bound by the provisions of this Article IX in reporting their shares of the Company's income and loss for income tax purposes.
Tax Allocations Binding. The Members are aware of the income tax consequences of the allocations made by this Article VI and hereby agree to be bound by the provisions of this Article VI in reporting their shares of Company allocations for income tax purposes.
Tax Allocations Binding. The Members acknowledge that they are aware of the U.S. tax consequences of the allocations made by this clause 3.13 and hereby agree to be bound by the provisions of this clause 3.13 in reporting their respective shares of items of Company income, gain, loss, deduction and expense. TAX ELECTIONS