Tax Reporting and Characterization. It is the Members' express intention that the Company be treated as a partnership for purposes of federal, state and local income tax laws, and the Tax Matters Partner is expressly authorized to make any election it deems necessary or appropriate to effect or maintain such treatment.
Appears in 4 contracts
Samples: Operating Agreement (Claymore MACROshares Oil Up Holding Trust), Operating Agreement (MACRO Securities Depositor, LLC), Operating Agreement (MACRO Securities Depositor, LLC)
