Common use of Credits Clause in Contracts

Credits. All tax credits shall be allocated among the Members as determined by the Board in its sole and absolute discretion, consistent with applicable law. The tax allocations made pursuant to this Section 5.8 shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Memorial Production Partners LP), Limited Liability Company Agreement (New Source Energy Partners L.P.), Limited Liability Company Agreement

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Credits. All tax credits shall be allocated among the Members as determined by the Board in its sole and absolute discretion, consistent with applicable lawApplicable Law. The tax allocations made pursuant to this Section 5.8 shall be solely for tax purposes and shall not affect any MemberPartner’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (LRR Energy, L.P.), Limited Liability Company Agreement (Mid-Con Energy Partners, LP), Limited Liability Company Agreement (Mid-Con Energy Partners, LP)

Credits. All tax credits shall be allocated among the Members as determined by the Board in its sole and absolute discretion, consistent with applicable law. The tax allocations made pursuant to this Section 5.8 shall be solely for tax purposes and shall not affect any MemberPartner’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (LRR Energy, L.P.), Limited Liability Company Agreement (QR Energy, LP), Limited Liability Company Agreement (QR Energy, LP)

Credits. All tax Tax credits shall be allocated among the Members as determined by the Board of Managers in its sole and absolute discretion, consistent with applicable lawApplicable Law. The tax Tax allocations made pursuant to this Section 5.8 4.7 shall be solely for tax Tax purposes and shall not affect any Member’s Capital Account or share of non-tax Tax allocations or distributions under this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Darling Ingredients Inc.), Limited Liability Company Agreement (Darling Ingredients Inc.)

Credits. All tax credits shall be allocated among the Members as determined by the Board Managing Member in its sole accordance with Section 4.2(c)(xiv) and absolute discretion, consistent with applicable lawLaw. The tax allocations made pursuant to this Section 5.8 5.3(d) shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Vantiv, Inc.), Limited Liability Company Agreement (Vantiv, Inc.)

Credits. All tax credits shall be allocated among the Members as determined by a majority of the Board of Managers in its sole and absolute discretion, consistent with applicable law. The tax allocations made pursuant to this Section 5.8 7.06 shall be solely for tax purposes and shall not affect any Member’s 's Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (NextWave Wireless LLC), Limited Liability Company Agreement (NextWave Wireless LLC)

Credits. All tax credits shall be allocated among the Members as determined by a majority of the Board of Managers in its sole and absolute discretion, consistent with applicable law. The tax allocations made pursuant to this Section 5.8 7.06 shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (NextWave Wireless LLC)

Credits. All tax credits shall be allocated among the Members as determined by the Board in its sole and absolute discretion, consistent with applicable law. The tax allocations made pursuant to this Section 5.8 5.5 shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (GMX Resources Inc)

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Credits. All tax credits shall be allocated among the Members as determined by the Board of Directors in its sole and absolute discretion, consistent with applicable lawLaw. The tax allocations made pursuant to this Section 5.8 5.3(d) shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Fifth Third Bancorp)

Credits. All tax credits shall be allocated among the Members as determined by the Board of Managers in its sole and absolute discretion, consistent with applicable law. The tax allocations made pursuant to this Section 5.8 11(e) shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement

Credits. All tax credits shall be allocated among the Members as determined by the Board in its sole and absolute discretionTax Matters Member, subject to Section 5.1(b)(iii)(B), consistent with applicable law. The tax allocations made pursuant to this Section 5.8 7.6 shall be solely for tax purposes and shall not affect any Member’s 's Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Leucadia National Corp)

Credits. All tax credits shall be allocated among the Members as determined by the Board of Managers in its sole and absolute discretion, consistent with applicable lawApplicable Law. The tax allocations made pursuant to this Section 5.8 4.7 shall be solely for tax purposes and shall not affect any Member’s Capital Account or share of non-tax allocations or distributions under this Agreement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Darling International Inc)

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