Federal Income Tax Elections; Method of Depreciation. The Managing Member shall determine the method of depreciation to be utilized by the Company for tax purposes and all elections to be made by the Company for tax purposes. The Managing Member shall be the "tax matters partner" for all purposes of the Code but shall have no authority to bind any other Member without such Member's consent.
Appears in 4 contracts
Samples: Agreement and Plan of Merger (Mecklermedia Corp), Agreement and Plan of Merger (Penton Media Inc), Agreement and Plan of Merger (Penton Media Inc)
Federal Income Tax Elections; Method of Depreciation. The Managing Member shall determine the method of depreciation to be utilized by the Company for tax purposes and all elections to be made by the Company for tax purposes. The Managing Member shall designate one Member to be the "tax matters partner" for all purposes of the Code but shall have no authority to bind any other Member without such Member's consentCode.
Appears in 1 contract
Samples: Limited Liability Company Agreement (Micro Investment LLC)
