Common use of Compliance with Treasury Regulations Clause in Contracts

Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with the Treasury Regulations issued pursuant to Section 704(b) of the Code, and shall be interpreted and applied in a manner consistent with such regulations. If the Partners shall determine that it is prudent to modify the manner in which the Capital Accounts are computed or maintained in order to comply with such regulations, the Partners may make such modification.

Appears in 3 contracts

Samples: Partnership Agreement for Western Amphitheater (Broadway Series Management Group Inc), Partnership Agreement for Western Amphitheater (SFX Entertainment Inc), Partnership Agreement for Coral Sky Amphitheater Partnership (SFX Entertainment Inc)

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Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with the Treasury Regulations issued pursuant to Section 704(b1.704-1(b) of as in effect on the Codedate hereof, and shall be interpreted and applied in a manner consistent with such regulationsTreasury Regulations. If In the Partners event the Manager shall determine that it is prudent to modify the manner in which the Capital Accounts Accounts, or any debits or credits thereto, are made or computed or maintained in order to comply with such regulationsRegulations and any amended or successor Regulations, the Partners Manager may make such modification.

Appears in 3 contracts

Samples: Limited Liability Company Agreement (Belmar Capital Fund LLC), Limited Liability Company Agreement (Belport Capital Fund LLC), Belrose Capital Fund LLC

Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with the Treasury Regulations issued pursuant to Section 704(b) of the Code, Code and Treasury Regulation Section 1.704-1(b) and shall be interpreted and applied in a manner consistent with such regulations. If In the Partners event that the General Partner shall determine that it is prudent to modify the manner in which the Capital Accounts Accounts, or any debits or credits thereto, are computed or maintained determined in order to comply with such regulations, the Partners General Partner may make such modification.

Appears in 2 contracts

Samples: Pennsylvania Electric Co, Metropolitan Edison Co

Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the maintenance of Capital Accounts are intended to comply with the Treasury Regulations issued pursuant to Section 704(b) of the CodeCode and Treasury Regulations Section 1.704-1(b), and shall be interpreted and applied in a manner consistent with such regulations. If In the Partners event that the Managers shall determine that it is prudent to modify the manner in which the Capital Accounts Accounts, or any debits or credits thereto, are computed or maintained in order to comply with such regulations, the Partners Managers may make such modification.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Trimedia Entertainment Group Inc)

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Compliance with Treasury Regulations. The foregoing provisions and the other provisions of this Agreement relating to the they maintenance of Capital Accounts are intended to comply with the Treasury Regulations issued Article VIII - Tax Allocations, Maintenance of Capital Accounts and Distributions of Cash Page 76 pursuant to Section 704(b) of the Code, and shall be interpreted and applied in a manner consistent with such regulations. If the Partners shall determine that it is prudent to modify the manner in which the Capital Accounts capital accounts are computed or maintained in order to comply with such regulations, the Partners may make such modification.

Appears in 1 contract

Samples: Partnership Agreement (SFX Entertainment Inc)

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