BBA Procedures definition

BBA Procedures has the meaning set forth in Section 11.04(c).

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BBA Procedures has the meaning set forth in Section 9.12(c). (f) “Board of Managers” means the Managers, acting as a group with the powers set forth in the Certificate and this Agreement. (g) “Capital Account” as of any given date means the Capital Contribution to the Company by a Member as adjusted up to the date in question pursuant to Section 8. (h) “Capital Contribution” means the capital contributed by a Member to the capital of the Company in the Reorganization or through the purchase of any Units of the Company. (i) “Certificate of Organization” means the certificate of organization of the Company, publicly filed with the Secretary of the State of South Dakota on April 2, 2001 to organize the Company. (j) “Chairman” has the meaning set forth in Section 6.2(c). (k) “Change of Control” means: (i) the sale of all or substantially all of the assets of the Company, (ii) a sale resulting in more than a majority of the then currently outstanding voting Units of the Company being held by persons other than the Members; or (iii) a merger, consolidation, recapitalization or reorganization of the Company with and into an Entity where after the consummation of such transaction, the Members of the Company are unable to elect a majority of the managers (or the board of directors or its equivalent) of the resulting entity or its parent company. (l) “Class A Members” if referenced singularly, means any member who holds Class A Units and, if referenced in the plural, all Members who hold Class A Units. A Class A Member includes any such Class A Members’ representative in the event of death, incapacity or liquidation of such Class A Member. (m) “Class A Units” means the class of Units of the Company that have the rights and privileges set forth in this Agreement attributed to the Class A Units. All Units which are held by a single Member which owns at least 50,000 Units on the Effective Date are Class A Units. (n) “Class B Members” if referenced singularly, means any member who holds Class B Units and, if referenced in the plural, all Members who hold Class B Units. A Class B Member includes any such Class B Members’ representative in the event of death, incapacity or liquidation of such Class B Member. (o) “Class B Units” means the class of Units of the Company that have the rights and privileges set forth in this Agreement attributed to the Class B Units. All Units which are held by a single Member which owns between 49,999 and 20,001 Units on the Effective Date are Class B Units...

BBA Procedures means the partnership audit procedures enacted under Section 1101 of the BBA. (j) "Capital Account" means the separate capital account maintained for each Unit Holder in accordance with Section 2.3. (hk) "Capital Contributions" means, with respect to any Member, the amount of money (US Dollars) and the initial Gross Asset Value of any assets or property (other than money) contributed by the Member (or such Member's predecessor in interest) to the Company (net of liabilities secured by such contributed property that the Company is considered to assume or take subject to under Code Section 752) with respect to the Units in the Company held or purchased by such Member, including additional Capital Contributions. (i(l) “Class A Member” means any Person (i) who has become a Member pursuant to the terms of this Agreement, and (ii) who is the owner of one or more Class A Units. “Class A Members” means all such persons. (m) “Class A Unit” means an ownership interest in the Company representing a Capital Contribution made as provided in Section 2 in consideration of Units that have been classified into Class A Units, including any and all benefits to which the holder of such Units may be entitled as provided in this Agreement, together with all obligations of such Person to comply with the terms and provisions of this Agreement. (n) “Class A Unit Holders(s)” means the owner(s) of one or more Class A Units. (o) “Class B Member” means any Person (i) who has become a Member under this Agreement, and (ii) who is the owner of one or more Class B Units. “Class B Members” means all such Persons. (p) “Class B Unit” means an ownership interest in the Company representing a Capital Contribution made as provided in Section 2 in consideration of Units that have been classified into

Examples of BBA Procedures in a sentence

In the event of an audit of the Company that is subject to the Company audit procedures enacted under section 1101 of the Bipartisan Budget Act of 2015 (the “BBA” and the “BBA Procedures”), the Company Representative, in its sole discretion, shall have the right to make any and all elections and to take any actions that are available to be made or taken by the Company Representative or the Company under the BBA Procedures (including any election under Code section 6226 as amended by the BBA).
In the event of an audit of the LLC that is subject to the partnership audit procedures enacted under Section 1101 of the BBA (the “BBA Procedures”), at the direction of the Board, the Partnership Representative shall have the right to make any and all elections and to take any actions that are available to be made or taken by the Partnership Representative or the LLC under the BBA Procedures.
The Company will not elect into the partnership audit procedures enacted under Section 1101 of the BBA (the “BBA Procedures”) for any tax year beginning before January 1, 2018, and, to the extent permitted by applicable law and regulations, the Company will annually elect out of the BBA Procedures for tax years beginning on or after January 1, 2018 pursuant to Code Section 6221(b) (as amended by the BBA).
In the event of an audit of the Company that is subject to the partnership audit procedures enacted under Section 1101 of the BBA (the “BBA Procedures”), the Partnership Representative, in its sole discretion, shall have the right to make any and all elections and to take any actions that are available to be made or taken by the Partnership Representative or the Company under the BBA Procedures (including any election under Code Section 6226 as amended by the BBA).
In the event of an audit of the Company that is subject to the partnership audit procedures enacted under Section 1101(the “BBA Procedures”) of the Bipartisan Budget Act of 2015 (“BBA”) , the Partnership Representative, in its sole discretion, shall have the right to make any and all elections and to take any actions that are available to be made or taken by the Partnership Representative or the Company under the BBA Procedures (including any election under Section 6226 of the Code as amended by the BBA).
In the event of an audit of the Company that is subject to the Company audit procedures enacted under section 1101 of the BBA (the “BBA Procedures”), the Company Representative, in its sole discretion, shall have the right to make any and all elections and to take any actions that are available to be made or taken by the Company Representative or the Company under the BBA Procedures (including any election under Code section 6226 as amended by the BBA).
To the extent permitted by applicable law and regulations, the Company will annually elect out of the partnership audit procedures enacted under Section 1101 of the BBA (the "BBA Procedures").
To the extent permitted by applicable law and regulations, the Company will annually elect out of the BBA Procedures for tax years beginning on or after January 1, 2018 pursuant to Code Section 6221(b) (as amended by the BBA).
The Company will not elect into the partnership audit procedures enacted under Section 1101 of the Bipartisan Budget Act of 2015 (the “BBA Procedures”) for any tax year beginning before January 1, 2018, and, to the extent permitted by applicable law and regulations, the Company will annually elect out of the BBA Procedures for tax years beginning on or after January 1, 2018.
In the event of an audit of the Company that is subject to the partnership audit procedures enacted under Section 1101(the !BBA Procedures”) of the Bipartisan Budget Act of 2015 (!BBA”) , the Partnership Representative, in its sole discretion, shall have the right to make any and all elections and to take any actions that are available to be made or taken by the Partnership Representative or the Company under the BBA Procedures (including any election under Section 6226 of the Code as amended by the BBA).

More Definitions of BBA Procedures

BBA Procedures has the meaning set forth in Section 7.4(d). i. "Business" has the meaning set forth in Section 2.1. j. "Business Day" means a day other than a Saturday, Sunday or other day on which commercial banks in the State of Minnesota are authorized or required to close. k. "Capital Account" means the separate account established and maintained by the Company for each Member and each transferee pursuant to the Code and Treasury Regulations. l. "Capital Contribution" means with respect to a Member the total amount of cash and the agreed upon net Fair Value of property (or services, where an Interest in Company Capital

BBA Procedures means the procedures provided for under Subchapter C of Subtitle F, Chapter 63 of the Code, as amended by P.L. 114-74, the Bipartisan Budget Act of 2015 (together with any subsequent amendments thereto, Treasury Regulations promulgated thereunder, and published administrative interpretations thereof) or any similar procedures established by a state or local Taxing Authority.

BBA Procedures has the meaning set forth in Section 11.04(c). SugarRush 5058, LLCOperating AgreementPage 4 of 53

BBA Procedures has the meaning set forth in Section 10.3(c). (k) “Board” or the “Board of Governors” means the Governors, acting as a group with the powers set forth in the Articles of Organization and this Agreement. (l) “Book Value” means, with respect to any Company asset, the adjusted basis of such asset for federal income tax purposes, except as follows: (i) the initial Book Value of any Company asset contributed by a Person to the Company shall be the gross Fair Market Value of such Company asset as of the date of such contribution; (ii) immediately before the distribution by the Company of any Company asset to a Person, the Book Value of such asset shall be adjusted to its gross Fair Market Value as of the date of such distribution; (iii) the Book Value of all Company assets shall be adjusted to equal their respective gross Fair Market Values, as determined by the Board, as of the following times: