Common use of U.S. Tax Classification Clause in Contracts

U.S. Tax Classification. Subject to the Code and the applicable Treasury Regulations, the Members shall have the exclusive authority to make any and all elections regarding the Company’s classification for U.S. federal and state income tax purposes; provided however, that if the Members determine to change the Company’s classification, the Company and the Members shall amend this Agreement to incorporate any provisions that are necessary or appropriate to reflect such change in classification.

U.S. Tax Classification. Subject to the Code and the applicable Treasury Regulations, the Members and the Board of Managers shall have the exclusive authority to make any and all elections regarding the Company’s classification for U.S. federal and state income tax purposes; provided however, that if the Members and the Board of Managers determine to change the Company’s classification, the Company and the Members shall amend this Agreement to incorporate any provisions that are necessary or appropriate to reflect such change in classification.