Common use of Treatment as a Partnership Clause in Contracts

Treatment as a Partnership. It is the intent of the Members that the Company shall always be operated in a manner consistent with its treatment as a partnership for federal and state income tax purposes, but that the Company shall not be operated or treated as a partnership for purposes of the federal Bankruptcy Code. No Member or Manager shall take any action inconsistent with this intent.

Treatment as a Partnership. It is the intent of the Members that the Company shall always be operated in a manner consistent with its treatment as a partnership for federal and state income tax purposes, but that the Company shall not be operated or treated as a partnership for purposes of the federal Bankruptcy Codebankruptcy code. No Member or Manager shall take any action inconsistent with this intent.

Treatment as a Partnership. It is the intent of the Members that the Company shall always be operated in a manner consistent with its treatment as a partnership for federal and state income tax purposes, but that the Company shall not be operated or treated as a partnership for purposes of the federal Bankruptcy Code. No Member or Manager shall take any action inconsistent with this intent.

Treatment as a Partnership. It is the intent of the Members sole Member that the Company shall always be operated in a manner consistent with its treatment as a partnership “partnership” for federal and state income tax purposes, but purposes and that the Company shall not be operated or treated as a partnership for purposes of the federal Bankruptcy Codecorporation. No Member or Manager shall take any action that is inconsistent with this that intent.

Treatment as a Partnership. It is the intent of the Members that the Company shall always be operated in a manner consistent with its treatment as a partnership “partnership” for federal and state income tax purposes, but that the Company shall not be operated or treated as a partnership for purposes of the federal Bankruptcy Codeany other purpose. No Member or Manager shall take any action that is inconsistent with this that intent.