Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class A Unit is Transferred in accordance with this Agreement or the Exchange Agreement or (ii) any Company property is distributed to any Member.
Appears in 8 contracts
Samples: Limited Liability Company Agreement (DynaVox Inc.), Limited Liability Company Agreement (Global Brokerage Holdings, LLC), Limited Liability Company Agreement (FXCM Inc.)
Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class A LLC Unit is Transferred in accordance with this Agreement or the Exchange Agreement or (ii) any Company property is distributed to any Member.
Appears in 5 contracts
Samples: Operating Agreement (Truett-Hurst, Inc.), Operating Agreement (Truett-Hurst, Inc.), Operating Agreement (Truett-Hurst, Inc.)
Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class A B Unit is Transferred in accordance with this Agreement or the Exchange Agreement or (ii) any Company property is distributed to any Member.
Appears in 5 contracts
Samples: Limited Liability Company Agreement (NRG Yield, Inc.), Limited Liability Company Agreement (Clearway Energy, Inc.), Limited Liability Company Agreement (NRG Yield, Inc.)
Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class A B Unit or Class B1 Unit is Transferred in accordance with this Agreement or the applicable Exchange Agreement or (ii) any Company property is distributed to any Member.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Terraform Global, Inc.), Limited Liability Company Agreement (Terraform Global, Inc.), Limited Liability Company Agreement (TerraForm Power, Inc.)
Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class A Unit is Transferred in accordance with this Agreement or the Exchange Agreement or (ii) any Company property is distributed to any Member.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (PBF Energy Inc.), Limited Liability Company Agreement (PBF Energy Inc.)
Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 743, and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any New Class A Unit is Transferred transferred in accordance with this Agreement or the Exchange Agreement or (ii) any Company property is distributed to any Member.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Duff & Phelps Corp), Limited Liability Company Agreement (Duff & Phelps Corp)
Section 754 Election. The Managing Member shall cause the Company to make and to maintain and keep in effect at all times, in accordance with Sections 734, 743 and 754 of the Code and applicable Treasury Regulations and comparable state law provisions, an election to adjust basis in the event (i) any Class A B Unit or Class B1 Unit is Transferred in accordance with this Agreement or the applicable Exchange Agreement or (iiAgreement,(ii) any Company property is distributed to any MemberMember (iii) such Managing Member otherwise determines to make such an election.
Appears in 1 contract
Samples: Limited Liability Company Agreement (TerraForm Power, Inc.)
