Tax Elections and Information. (a) The Company is authorized and has elected to be treated as an association taxable as a corporation for United States federal income tax purposes. Except as otherwise provided herein, the Board of Directors or their designees shall determine whether the Company should make any other elections permitted by any applicable tax law.
Appears in 2 contracts
Samples: Operating Agreement (Seadrill Partners LLC), Operating Agreement
Tax Elections and Information. (a) The Company is authorized and has elected shall make a protective election to be treated as an association taxable as a corporation for United States federal income tax purposes, effective on or before the Closing Date. Except as otherwise provided herein, the Board of Directors or their designees shall determine whether the Company should make any other elections permitted by any applicable tax law.
Appears in 2 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (Transocean Partners LLC)
