Tax Audits/Special Assessments. If the federal tax return of either the Company or an individual Member with respect to an item or items of Company income, loss, deduction, etc., potentially affecting the tax liability of the Members generally is subject to an audit by the Internal Revenue Service, the Managers may, in the exercise of their business judgment, determine that it is necessary to contest proposed adjustments to such return or items. If such a determination is made, the Managers will finance the contest of the proposed adjustments out of the Net Cash From Operations.
Tax Audits/Special Assessments. If a tax return of any of the Company, an individual Member or a Parent Entity with respect to an item or items of Company income, loss, deduction, etc., potentially affecting any tax liability of the Members generally is subject to an audit by the Internal Revenue Service (or other similar governmental agency), the Managers may, in the exercise of their business judgment, determine that it is necessary to contest proposed adjustments to such return or items.
Tax Audits/Special Assessments. If a tax return of the Company or an individual Member with respect to an item or items of Company income, loss, deduction, etc., potentially affecting any tax liability of the Members generally is subject to an audit by the Internal Revenue Service (or other similar governmental agency), the General Manager may, in the exercise of their business judgment, determine that it is necessary to contest proposed adjustments to such return or items.
Tax Audits/Special Assessments. If the United States federal tax return of either DFP, any direct or indirect subsidiary of DFP or an individual Member with respect to an item or items of DFP income, gain, loss and/or deduction potentially affecting the tax liability of any Member generally is subject to an audit by any Tax Authority, the Managing Member may, in the exercise of its business judgment, determine that it is necessary to contest proposed adjustments to such return or items. If such a determination is made, the Managing Member shall finance the contest of the proposed adjustments out of the available assets, to the extent available, or in such other manner as the Managing Member may determine, to the extent the Managing Member determines feasible.
Tax Audits/Special Assessments. If the federal tax return of the Company (or an individual Member with respect to an item or items of Company income, loss, or deduction potentially affecting the tax liability of the Members generally) is subject to an audit by the Internal Revenue Service, the Manager may, in the exercise of its business judgment, determine that it is necessary to contest proposed adjustments to such return or items. If such a determination is made, the costs and expenses of the contest of the proposed adjustments shall be paid by the Company.
Tax Audits/Special Assessments. If the federal tax return of the Partnership (or an individual Partner with respect to an item or items of Partnership income, loss, deduction, or other items, potentially affecting the tax liability of the Partners generally) is subject to an audit by the Internal Revenue Service or other taxing authority, the Partners may determine that it is necessary to contest proposed adjustments to such return or items. If such a determination is made, the Partnership shall finance the contest of the proposed adjustments out of the Net Cash From Operations. In addition, if the Net Cash From Operations of the Partnership is insufficient to allow the Partnership to contest or continue to contest such proposed adjustments, the Partners shall contribute money to the Partnership in proportion to their Percentage Interests in an amount sufficient to permit the Partnership to conclude a contest of such proposed adjustment.
