Withholding Taxes with Respect to Members. The Company shall comply with any withholding requirements under federal, state and local law that the Managing Member determines is required, and shall remit any amounts withheld to, and file required forms with, the applicable jurisdictions. All amounts withheld from Company revenues or distributions by or for the Company pursuant to the Code or any provision of any federal, state or local law, and any taxes, fees or assessments levied upon the Company, shall be treated for purposes of this Article 4 as having been distributed (as an advance) to those Members who received a credit for tax or other benefit with respect to the withheld amounts, or whose identity or status caused the withholding obligations, taxes, fees or assessments to be incurred. If the amount withheld exceeded the affected Member’s actual share of cash available for distribution, such Member shall reimburse the Company for such excess withholding or other amounts paid (as described above). Each Member agrees to furnish the Company with such representations, forms, or other information as the Managing Member shall reasonably request to assist it in determining the extent of, and in fulfilling, the Company’s withholding obligations, if any. As soon as practicable after becoming aware that any withholding requirement may apply to a Member, the Managing Member shall advise such Member of such requirement and the anticipated effect thereof. Such Member shall pay or reimburse to the Company all identifiable costs or expenses of the Company caused by or resulting from withholding taxes (including expenses incurred to reduce withholding taxes) with respect to such Member.
Appears in 5 contracts
Samples: Limited Liability (Sentio Healthcare Properties Inc), Limited Liability Company Agreement (Sentio Healthcare Properties Inc), Limited Liability Company Agreement (Sentio Healthcare Properties Inc)
Withholding Taxes with Respect to Members. The Company shall comply with any withholding requirements under federal, state state, local and local foreign law that the Managing Member determines is required, and shall remit any amounts withheld to, and file required forms with, the applicable jurisdictionsjurisdiction. All amounts withheld from Company revenues or distributions by or for the Company pursuant to the Code or any provision of any federal, state state, local or local foreign law, and any taxes, fees or assessments levied upon the Company, shall be treated for purposes of this Article 4 Section 10.12 as having been distributed (as an advance) to those Members who received a credit for tax or other benefit credits with respect to the withheld amounts, or whose identity or status caused the withholding obligations, taxes, fees or assessments to be incurred. If the amount withheld exceeded was not withheld from the affected Member’s actual share of cash available for distribution, the Manager on behalf of the Company may, at its opinion (a) require such Member shall to reimburse the Company for such excess withholding or other amounts paid (as described above)b) reduce any subsequent distributions to which such Member is entitled by the amount of such withholding. Each Member agrees to furnish the Company with such representations, forms, or other information representations and forms as the Managing Member Manager shall reasonably request to assist it in determining the extent of, and in fulfilling, the Company’s withholding obligations, if any. As soon as practicable after becoming aware that any withholding requirement may apply to a an Investing Member, the Managing Member Manager shall advise such the Investing Member of such requirement and the anticipated effect thereof. Such Each Member shall pay or reimburse to the Company all identifiable costs or expenses of the Company caused by or resulting from withholding taxes (including expenses incurred to reduce withholding taxes) with respect to such Member.
Appears in 1 contract
Samples: Operating Agreement
Withholding Taxes with Respect to Members. The Company shall comply with any withholding requirements under federal, state and local law that the Managing Member determines is required, and shall remit any amounts withheld to, to and file required forms with, with the applicable jurisdictions. All amounts withheld from Company revenues or distributions by or for the Company pursuant to the Code or any provision provisions of any federal, state or local law, and any taxes, fees or assessments levied upon the Company, shall be treated for purposes of this Article 4 III as having been distributed (as an advance) to those Members who received a credit for tax or other benefit credits with respect to the withheld amounts, or whose identity or status caused the withholding obligations, taxes, fees or assessments to be incurred. If the amount withheld exceeded was not withheld from the affected Member’s actual share of cash available for distribution, such the Company may, at its option, (i) require the Member shall to reimburse the Company for such excess withholding or other amounts paid (as described above)ii) reduce any subsequent distributions by the amount of such withholding. Each Member agrees to furnish the Company with such representations, forms, or other information any representations and forms as the Managing Member Company shall reasonably request to assist it in determining the extent of, and in fulfillingfulfilling its, the Company’s withholding obligations, if any. As soon as practicable after becoming aware that any withholding requirement may apply to a Member, the Managing Member Board of Managers shall advise such the Member of such requirement and the anticipated effect thereof. Such Member shall pay or reimburse to the Company all identifiable costs or expenses of the Company caused by or resulting from withholding taxes (including expenses incurred to reduce withholding taxes) with respect to such Memberhereof.
Appears in 1 contract
Samples: Limited Liability Company Agreement (VCI Electronic Coupons, Inc.)
Withholding Taxes with Respect to Members. The Company shall comply with any withholding requirements under federal, state and local law that the Managing Member determines is required, and shall remit any amounts withheld to, and file required forms with, the applicable jurisdictions. All amounts withheld from Company revenues or distributions by or for the Company pursuant to the Code or any provision of any federal, state or local law, and any taxes, fees or assessments levied upon the Company, shall be treated for purposes of this Article 4 IV as having been distributed (as an advance) to those Members who received a credit for tax or other benefit credits with respect to the withheld amounts, or whose identity or status caused the withholding obligations, taxes, fees or assessments to be incurred. If the amount withheld exceeded was not withheld from the affected Member’s 's actual share of cash available for distribution, the other Member on behalf of the Company may, at its option, (a) require such Member shall to reimburse the Company for such excess withholding or other amounts paid (as described above)b) reduce any subsequent distributions to which such Member is entitled by the amount of such withholding. Each Member agrees to furnish the Company with such representations, forms, or other information representations and forms as the Managing Member Members shall reasonably request to assist it them in determining the extent of, and in fulfilling, the Company’s 's withholding obligations, if any. As soon as practicable after becoming aware that any withholding requirement may apply to a Member, the Managing Member shall advise such Member of such requirement and the anticipated effect thereof. Such Each Member shall pay or reimburse to the Company all identifiable costs or expenses of the Company caused by or resulting from withholding taxes (including expenses incurred to reduce withholding taxes) with respect to such Member.
Appears in 1 contract
Samples: Limited Liability Company Operating Agreement (Capital Senior Living Corp)