DTO Management definition
Examples of DTO Management in a sentence
DTO Management shall cause income tax returns for the Company to be prepared, at Company expense, and timely filed with the appropriate authorities.
Except as provided in Section 11.1, amendments to this Agreement shall be made only upon the consent of DTO Management and with a Majority Vote of Investor Members.
Any costs incurred by DTO Management in connection with the foregoing shall be reimbursed promptly upon the completion of such action.
The Company commenced on the filing of the Articles of Organization in the Office of the Secretary of State of North Carolina, as required by Section 2.1 hereof, and shall continue until December 31, 2037, unless sooner terminated or dissolved as provided herein; provided, however, that the termination date may be extended for up to an additional forty (40) years in five (5) year increments upon the election of DTO Management.
For purposes of determining Profits, Losses or any other items allocable to any period, such items shall be determined on a daily, monthly, or other basis, as determined by DTO Management using any permissible method under Code Section 706 and the Regulations thereunder.
DTO Management shall promptly notify the Members of any changes in the Company's registered agent, registered office, or principal place of business.
In making any amendments to this Agreement, there shall be prepared, executed and filed for recording by DTO Management such documents amending the Articles of Organization as required under the Act.
At all times during the continuance of the Company, DTO Management shall maintain or cause to be maintained true and full financial records and books of account showing all receipts and expenditures, assets and liabilities, income and losses, and all other records necessary for recording the Company's business and affairs including those sufficient to record the allocations and distributions required by the provisions of this Agreement.
Provided, however, if the Company's losses as calculated by the Company's accountants under Generally Accepted Accounting Principles ("GAAP") exceed the initial Capital Contributions made pursuant to Section 3.1, DTO Management shall not be required to make any such loan to the Company hereunder unless it is still needed after the Members and Economic Interest Holders make additional Capital Contributions pursuant to the terms of Section 3.5(b)(ii) below.
Upon the dissolution of the Company, the firm or trade name of the Company and any goodwill associated therewith shall become the sole property of DTO Management, provided that distributions and allocations otherwise due to DTO Management shall not be reduced as a result of DTO Management becoming entitled to such assets.