Tax Matters Member means any Person that has been designated the Tax Matters Member pursuant to Section 4.3(e).
Examples of Tax Matters Member in a sentence
The Company and each Member hereby designate any Member selected by the Managing Member as the tax matters partner for purposes of Section 6231(a)(7) of the Code (the Tax Matters Member).
The Tax Matters Member shall keep the Members informed as to the status of any audit of the Companys tax affairs, and shall take such action as may be necessary to cause any Member so requesting to become a notice partner within the meaning of Section 6223 of the Internal Revenue Code.
The Tax Matters Member shall have full and exclusive power and authority on behalf of the Company to represent the Company (at the Companys expense) in connection with all examinations of the Companys affairs by tax authorities, including resulting administrative and judicial proceedings, and to expend Company funds for professional services and costs associated therewith.
If an audit of any of the Companys tax returns shall occur, the Tax Matters Member shall not settle or otherwise compromise assertions of the auditing agent which may be adverse to any Member as compared to the position taken on the Companys tax returns without the prior written consent of each such affected Member.
Such Member shall inform each other Member of all significant matters that may come to its attention in its capacity as Tax Matters Member by giving notice thereof on or before the fifth Business Day after becoming aware thereof and, within that time, shall forward to each other Member copies of all significant written communications it may receive in that capacity.