Overwithholding. Neither the Company nor any Manager shall be liable for any excess taxes withheld in respect of any distribution or allocation of income or gain to a Member. In the event of an overwithholding, a Member’s sole recourse shall be to apply for a refund from the appropriate Taxing Authority.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Village Farms International, Inc.)
Overwithholding. Neither the Company nor any the Manager shall be liable for any excess taxes withheld in respect of any distribution Distribution or allocation of income or gain to a Member. Subject to the foregoing, the Company will use reasonable efforts, after due inquiry and with advice from appropriate tax advisors, to not overwithhold in a material amount. In the event of an overwithholding, a Member’s sole recourse shall be to apply for a refund from the appropriate Taxing Authority.
Appears in 1 contract
Sources: Limited Liability Company Agreement (Global Defense & National Security Holdings LLC)