Common use of Tax Consequences; Consistent Reporting Clause in Contracts

Tax Consequences; Consistent Reporting. The Members are aware of the income tax consequences of the allocations made by this Article IV and by the Regulatory Allocations and hereby agree to be bound by those allocations as reflected on the information returns of the LLC in reporting their shares of LLC income and loss for income tax purposes. Each Member agrees to report its distributive share of LLC items of income, gain, loss, deduction and credit on its separate return in a manner consistent with the reporting of such items to it by the LLC.

Tax Consequences; Consistent Reporting. The Members are aware of understand the income tax consequences of the allocations made by this Article IV III and by the Regulatory Allocations attached hereto as Exhibit B and hereby agree to be bound by report for income tax purposes their share of income and loss in accordance with those allocations as reflected on the information tax returns of the LLC in reporting their shares of LLC income and loss for income tax purposes. Each Member agrees to report its distributive share of LLC items of income, gain, loss, deduction and credit on its separate return in a manner consistent with the reporting of such items to it by the LLCCompany.

Tax Consequences; Consistent Reporting. The Members are aware of understand the income tax consequences of the allocations made by this Article IV and by the Regulatory Allocations Exhibit and hereby agree to be bound by report for income tax purposes their share of LLC income and loss in accordance with those allocations as reflected on the information returns of the LLC in reporting their shares of LLC income and loss for income tax purposes. Each Member agrees to report its distributive share of LLC items of income, gain, loss, deduction and credit on its separate return in a manner consistent with the reporting of such items to it by the LLC.