Common use of BBA Elections Clause in Contracts

BBA Elections. The Tax Matters Representative shall promptly notify each 10% Member if the IRS audits any Company tax return and if the Company receives a final partnership administrative adjustment or final partnership adjustment. Any decisions made by the Tax Matters Representative, including, without limitation, whether or not to elect the application of Section 6226 of the Code, as amended by Section 1101 of the Bipartisan Budget Act of 2015 (P.L. 114-74) (the “BBA”), with respect to any imputed underpayment, or settle or contest any tax matter, or extend the period of limitations for the assessment or collection of any tax and the choice of forum for such contest shall be made in the Tax Matters Representative’s sole discretion. Each Member agrees to cooperate with the Tax Matters Representative and to do or refrain from doing any or all things reasonably requested by the Tax Matters Representative with respect to the conduct of such proceedings.