Reporting Member definition
Examples of Reporting Member in a sentence
The Company shall pay the Reimbursement Amount to the Reporting Member for the applicable Texas Combined Return Year no later than the time at which Company would have been required to make payment to the Texas tax authorities in respect of Texas franchise tax if it was not included in such combined return, including payments made at the time of a request for extension, when a return is ultimately filed or, if required by the appropriate taxing authority of Texas, upon audit of the Reporting Member.
The Company shall, to the extent permitted by law, make the election provided by Code section 6221(b) to be excluded from the provisions of Subchapter C of Chapter 63 of Subtitle A, unless the Tax Reporting Member receives prior unanimous written consent of the Members not to make such election.
The Obligor will, and will cause each Reporting Member to, maintain proper books of record and account in conformity with Relevant GAAP and all applicable material requirements of any Governmental Authority having legal or regulatory jurisdiction over the Obligor or such Reporting Member, as the case may be.
The Tax Reporting Member shall be responsible for, make elections for, and prepare and file any federal and state tax returns or other required tax forms after approval of the Management Committee.
Except as provided in this Section 5.6 with respect to the amount of such Consolidated Group’s tax that the Company is required to reimburse the Reporting Member, the Reporting Member shall indemnify and hold the Company harmless from and against any and all taxes of the Consolidated Group.