Common use of Tax Returns and Tax Deficiencies Clause in Contracts

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 7 contracts

Samples: Limited Liability Company Agreement (Mysk Orlando Growth Fund LLC), Limited Liability Company Agreement, Operating Agreement

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Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s 's federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s 's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 5.4(e).

Appears in 4 contracts

Samples: Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC), Operating Agreement (Granite Falls Energy, LLC)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 7.05(d).

Appears in 2 contracts

Samples: Class B Preferred Unit Purchase Agreement (Learn SPAC HoldCo, Inc.), Class B Preferred Unit Purchase Agreement (Learn SPAC HoldCo, Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 62266226 as amended by the BBA) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Property Income Trust LLC), Limited Liability Company Agreement (Property Income Trust LLC)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s 's federal, state, foreign or other income tax return with the treatment of the item on the Company’s 's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Tecogen Inc.), Limited Liability Company Agreement (Scio Diamond Technology Corp)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.03(b).

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Great Elm Capital Corp.), Limited Liability Company Agreement (Great Elm Capital Corp.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s 's federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s 's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section Section 6226) will shall be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.03(c).

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (iPower Inc.), Limited Liability Company Operating Agreement (iPower Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Athenex, Inc.), Limited Liability Company Agreement (Axiall Corp/De/)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.03(c).

Appears in 1 contract

Samples: Operating Agreement

Tax Returns and Tax Deficiencies. Each Member agrees that that, unless otherwise required by Applicable Law, such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 7.05(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (ATN International, Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s 's federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s 's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 7.03(c).

Appears in 1 contract

Samples: Operating Agreement

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 6226taxes) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.Member as provided in Section 7.05(d) ..

Appears in 1 contract

Samples: Operating Agreement (Agrify Corp)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.04(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Lendway, Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 1 contract

Samples: Investment Agreement

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall will not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (NeoGames S.A.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s 's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will shall be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.03(c).

Appears in 1 contract

Samples: Joinder Agreement (Hempacco Co., Inc.)

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Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Capstone Green Energy Holdings, Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 7.04(b).

Appears in 1 contract

Samples: Limited Liability Company Agreement (BIT ORIGIN LTD)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 5.4(e).

Appears in 1 contract

Samples: Operating Agreement (Granite Falls Energy, LLC)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.02(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (CurrencyWorks Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s 's federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s 's return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section Section 6226) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 7.05(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Ternio, LLC)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such Member.

Appears in 1 contract

Samples: Limited Liability Company Agreement (iPic Entertainment Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s U.S. federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency imposed pursuant to Code section 6226taxes) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 7.05(d).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Liquid Holdings Group LLC)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign foreign, or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax tax, or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended by the BBA) will shall be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 6.03(c).

Appears in 1 contract

Samples: Operating Agreement (Sugarmade, Inc.)

Tax Returns and Tax Deficiencies. Each Member agrees that such Member shall not treat any Company item inconsistently on such Member’s federal, state, foreign or other income tax return with the treatment of the item on the Company’s return. Any deficiency for taxes imposed on any Member (including penalties, additions to tax or interest imposed with respect to such taxes and any tax deficiency taxes imposed pursuant to Code section 6226Section 6226 as amended) will be paid by such Member and if required to be paid (and actually paid) by the Company, will be recoverable from such MemberMember as provided in Section 5.3(b).

Appears in 1 contract

Samples: Limited Liability Company Agreement (Grom Social Enterprises, Inc.)

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