Common use of Formation and Tax Classification Clause in Contracts

Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for federal, state and local income and franchise tax purposes and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 2 contracts

Samples: Operating Agreement (Sky Harbour Group Corp), Limited Liability Company Operating Agreement (AST SpaceMobile, Inc.)

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Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for federal, state and local income and franchise tax purposes to the extent permissible by applicable law and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Oak Street Health, Inc.), Limited Liability Company Operating Agreement (Oak Street Health, Inc.)

Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for U.S. federal, state and local income and franchise tax purposes and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Iridium Communications Inc.)

Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member Shareholder represents and warrants that such Member Shareholder is duly authorized to join in this Agreement and that the person Person executing this Agreement on its behalf is duly authorized to do so. The Members Shareholders intend that the Company will and shall continue to be classified as a partnership for federal, state and local income and franchise tax purposes and each Member Shareholder and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members Shareholders intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Clip Interactive, LLC)

Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for federal, state and local income and franchise tax purposes and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.. 2.2

Appears in 1 contract

Samples: Limited Liability Company Operating Agreement (System1, Inc.)

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Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for U.S. federal, state and local income and franchise tax purposes and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Iridium Communications Inc.)

Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for federal, state and local income and franchise tax purposes and each Member and the Company shall will file all tax returns and shall will otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall will not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 1 contract

Samples: Operating Agreement (Blockstack Inc.)

Formation and Tax Classification. The Company has been previously formed as a limited liability company under and pursuant to the Act. Each Member represents and warrants that such Member is duly authorized to join in this Agreement and that the person executing this Agreement on its such Member’s behalf is duly authorized to do so. The Members intend that the Company will and shall continue to be classified as a partnership for U.S. federal, state and local income and franchise tax purposes and each Member and the Company shall file all tax returns and shall otherwise take all tax and financial reporting positions in a manner consistent with such treatment. The Members intend that the Company shall not be a partnership (including, without limitation, a limited partnership) for any other purpose.

Appears in 1 contract

Samples: Operating Agreement (DigiPath,Inc.)

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