Examples of Tax Partnership Agreement in a sentence
Despite being single member limited liability companies for applicable corporate and commercial law purposes, the Parties agree that each Area of Interest LLC shall be treated for applicable income tax purposes as a partnership with BHP and Ivanhoe as 50:50 partners, which tax partnership shall be governed by the provisions of the Tax Partnership Agreement.
This Agreement and the Tax Partnership Agreement contains everything the Parties have agreed in relation to the subject matter of this Agreement and this Agreement supersedes any prior agreement or understanding on anything connected to the subject matter of this Agreement including the Exploration Alliance Term Sheet.
The Tax Partnership Agreement shall set forth the Parties’ agreement on certain Tax matters with respect to the Area of Interest LLCs including, without limitation, the maintenance of capital accounts, allocations of profit, gain and loss, and the conduct of each Area of Interest LLC’s partnership representative.
The Ivanhoe Parties will cause each Area of Interest LLC and Joint Venture LLC to comply at all times in all material respects with all Laws respecting Taxes that are applicable to such entities, and will cause each such entity to comply with the relevant Tax Partnership Agreement.