Equity Owner definition
Examples of Equity Owner in a sentence
Each Equity Owner shall report Company items on his, her or its tax returns in a manner consistent with the treatment of such items on the Company’s tax returns, except as otherwise agreed to by the Manager.
No Person shall be admitted as an Equity Owner as a result of a Transfer of Units except as provided in Article 11.
Any Equity Owner that fails to so report Company items shall be liable to the Company and the other Equity Owners for any expenses, including professional fees, taxes, interest, penalties or litigation costs, that may arise from such inconsistent reporting, such as an audit by a Taxing Jurisdiction.
Notwithstanding anything to the contrary in this Section 5.4 the amount to be distributed to an Equity Owner as a Tax Distribution in respect of any Fiscal Year shall be reduced dollar-for-dollar by any distributions made to such Equity Owner under Section 5.1 during such Fiscal Year.
The Company shall be entitled to recover such loss by any lawful means, including by offsetting the loss against amounts otherwise distributable to the Reviewed Year Equity Owner or the Reviewed Year Equity Owner’s transferees or assignees.