Tax Matter Partner Additional Responsibilities. 7.5.4.1 If the Company is required by the IRS to change the method of allocating for the difference between the tax basis and the Book Value of the real properties, the Tax Matters Partner may change or amend the method of allocating such difference as required by the IRS or upon receiving the advice of its tax advisors that a change is necessary to comply with applicable law, and any such change may be made without obtaining further Consent or approval of the Members.
Appears in 4 contracts
Samples: Operating Agreement (JCM Partners LLC), Operating Agreement (JCM Partners LLC), Operating Agreement (JCM Partners LLC)
