Common use of Tax Consequences to Contributor Clause in Contracts

Tax Consequences to Contributor. Notwithstanding anything to the contrary contained in this Agreement, including without limitation the use of words and phrases such as "sell," "sale," purchase," and "pay," the parties hereto acknowledge and agree that it is their intent that the transaction contemplated hereby be treated for federal income tax purposes as the contribution of the Membership Interest by Contributor to Acquirer in exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986, as amended (the "Code"), and not as a transaction in which Contributor is acting other than in its capacity as a prospective partner of Acquirer.

Appears in 22 contracts

Samples: Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.)

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Tax Consequences to Contributor. Notwithstanding anything to the contrary contained in this Agreement, including without limitation the use of words and phrases such as "sell," "sale," purchase," and "pay," the parties hereto acknowledge and agree that it is their intent that the transaction contemplated hereby be treated for federal income tax purposes as the contribution of the Membership Interest by Contributor to Acquirer in exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986, as amended (the "Code"), and not as a transaction in which Contributor is acting other than in its her capacity as a prospective partner of Acquirer.

Appears in 4 contracts

Samples: Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.)

Tax Consequences to Contributor. Notwithstanding anything to the contrary contained in this Agreement, including without limitation the use of words and phrases such as "sell," "” “sale," purchase," and "pay," the parties hereto acknowledge and agree that it is their intent that the transaction contemplated hereby shall be treated for federal income tax purposes as the contribution of the Membership Interest by Contributor to Acquirer in exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986, as amended (the "Code"), as the contribution of the Contributed Assets by the Contributor to the Acquirer, in exchange for the Units, and not as a transaction in which the Contributor is acting other than in its capacity as a prospective partner of in the Acquirer.

Appears in 4 contracts

Samples: Contribution Agreement (Summit Hotel Properties, Inc.), Contribution Agreement (Summit Hotel OP, LP), Contribution Agreement (Summit Hotel Properties, Inc.)

Tax Consequences to Contributor. Notwithstanding anything to the contrary contained in this Agreement, including without limitation the use of words and phrases such as "sell," "sale," purchase," and "pay," the parties hereto acknowledge and agree that it is their intent that the transaction contemplated hereby be treated for federal income tax purposes as the contribution of the Membership Interest Interests by Contributor to Acquirer in exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986, as amended (the "Code"), and not as a transaction in which Contributor is acting other than in its capacity as a prospective partner of Acquirer.

Appears in 3 contracts

Samples: Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.)

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Tax Consequences to Contributor. Notwithstanding anything to the contrary contained in this Agreement, including without limitation the use of words and phrases such as "sell," "sale," purchase," and "pay," the parties hereto acknowledge and agree that it is their intent that the transaction contemplated hereby be treated for federal income tax purposes as the contribution of the Membership Interest Asset Management Agreements by Contributor to Acquirer in exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986, as amended (the "Code"), and not as a transaction in which Contributor is acting other than in its capacity as a prospective partner of Acquirer.

Appears in 2 contracts

Samples: Contribution Agreement (Columbia Equity Trust, Inc.), Contribution Agreement (Columbia Equity Trust, Inc.)

Tax Consequences to Contributor. Notwithstanding anything to the contrary contained in this Agreement, including without limitation the use of words and phrases such as "sell," "sale," purchase," and "pay," the parties hereto acknowledge and agree that it is their intent that the transaction contemplated hereby be treated for federal income tax purposes as the contribution of the Membership Interest by Contributor to Acquirer in exchange for Units pursuant to Section 721 of the Internal Revenue Code of 1986, as amended (the "Code"), and not as a transaction in which Contributor is acting other than in its his capacity as a prospective partner of Acquirer.

Appears in 1 contract

Samples: Contribution Agreement (Columbia Equity Trust, Inc.)

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