Common use of Appointment; Resignation Clause in Contracts

Appointment; Resignation. The Members hereby appoint the Managing Member as the “partnership representative” as provided in Code Section 6223(a) (the “Tax Matters Representative”). The Members hereby appoint ▇▇▇▇▇▇▇▇▇ ▇. ▇▇▇▇▇▇▇, as a person authorized to act on behalf of the Tax Matters Representative in US federal tax audits and proceedings (the “Designated Individual”). The Designated Individual may resign at any time. The Designated Individual may be removed at any time by the Tax Matters Representative. In the event of the resignation of the Tax Matters Representative, the Managing Member shall select a replacement. In the event of the resignation or removal of the Designated Individual, the Tax Matters Representative shall select a replacement.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Lendway, Inc.)

Appointment; Resignation. The Members hereby appoint the Managing Member as the “partnership representative” as provided in Code Section 6223(a) (the “Tax Matters Representative”). The Members hereby appoint Z▇▇▇▇▇▇▇▇▇ ▇. and R▇▇▇▇ ▇▇▇▇▇, each as a person authorized to act on behalf of the Tax Matters Representative in US federal tax audits and proceedings (the each, a “Designated Individual”). The A Designated Individual may resign at any time. The A Designated Individual may be removed at any time by the Tax Matters Representative. In the event of the resignation of the Tax Matters Representative, the Managing Member shall select a replacement. In the event of the resignation or removal of the a Designated Individual, the Tax Matters Representative shall select a replacement.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Lendway, Inc.)