Common use of Membership Classification Clause in Contracts

Membership Classification. The Joint Venture shall be treated as a partnership for federal tax purposes and shall not elect, under section 301.7701-3 of the Income Tax Regulations, to be taxed as an association.

Membership Classification. The Joint Venture shall be treated as a partnership for federal tax purposes and shall not elect, under section Section 301.7701-3 of the Income Tax Regulations, to be taxed as an association.