Common use of Tax Matters Member Clause in Contracts

Tax Matters Member. The Members shall designate one Member to be the “tax matters partner” (the “Tax Matters Member”) of the Company pursuant to Section 6231(a)(7) of the Code. Such Member shall take such action as may be necessary to cause each other Member to become a “notice partner” within the meaning of Section 6223 of the Code. 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. Such Member may not take any action contemplated by Sections 6222 through 6232 of the Code without the consent of the Majority Vote of the Voting Members but this sentence does not authorize such Member to take any action left to the determination of an individual Member under Sections 6222 through 6232 of the Code. The initial Tax Matters Member shall be Diversified Futures Trust I. Diversified Futures Trust I hereby appoints Preferred to perform all necessary administrative procedures for and on behalf of Diversified Futures Trust I, as Tax Matters Member of the Company.

Appears in 11 contracts

Samples: Organization Agreement, Organization Agreement (Futures Strategic Trust), Organization Agreement (Kenmar Global Trust)

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Tax Matters Member. The Members shall designate one Member to be the “tax matters partner” (the “Tax Matters Member”) of the Company pursuant to Section 6231(a)(7) of the Code. Such Member shall take such action as may be necessary to cause each other Member to become a “notice partner” within the meaning of Section 6223 of the Code. 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. Such Member may not take any action contemplated by Sections 6222 through 6232 of the Code without the consent of the Majority Vote of the Voting Members but this sentence does not authorize such Member to take any action left to the determination of an individual Member under Sections 6222 through 6232 of the Code. The initial Tax Matters Member shall be Diversified Futures World Monitor Trust. World Monitor Trust I. Diversified Futures Trust I hereby appoints Preferred to perform all necessary administrative procedures for and on behalf of Diversified Futures Trust IWorld Monitor Trust, as Tax Matters Member of the Company.

Appears in 10 contracts

Samples: Organization Agreement (World Monitor Trust Ii Series D), Organization Agreement (World Monitor Trust III - Series J), Organization Agreement (Futures Strategic Trust)

Tax Matters Member. The Members shall designate one Member to be the “tax matters partner” (the “Tax Matters Member”) of the Company pursuant to Section section 6231(a)(7) of the CodeCode shall be Crestwood Marcellus Pipeline LLC or as selected by all of the Members. Such The Tax Matters Member shall take such action as may be necessary to cause each other Member to become a “notice partner” within the meaning of Section section 6223 of the Code. Such Member Code and shall inform each other Member of all significant matters that may come to its attention in its capacity as Tax Matters Member” 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. Such The Tax Matters Member may not take any action contemplated by Sections sections 6222 through 6232 6231 of the Code without the consent of the Majority Vote of the Voting Members Members, but this sentence does not authorize such the Tax Matters Member to take any action left to the determination of an individual Member under Sections sections 6222 through 6232 6231 of the Code. The initial Tax Matters Member shall be Diversified Futures Trust I. Diversified Futures Trust I hereby appoints Preferred provide any Member, upon request, access to perform all necessary administrative procedures for accounting and on behalf tax information, workpapers and schedules related to the Company. Without the consent of Diversified Futures Trust Ithe Members, as the Tax Matters Member shall not extend the statute of limitations, file a request for administrative adjustment, file suit concerning any tax refund or deficiency relating to any Company administrative adjustment or enter into any settlement agreement relating to any Company item of income, gain, loss, deduction or credit for any Fiscal Year of the Company.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Inergy Storage, Inc.), Limited Liability Company Agreement (Crestwood Midstream Partners LP)

Tax Matters Member. The Members shall designate one Member to be the “tax matters partner” (the “Tax Matters Member”) of the Company pursuant to Section section 6231(a)(7) of the CodeCode shall be La Grange, if La Grange is a Member, or if not, as selected by the Company Board by Unanimous Consent. Such The Tax Matters Member shall take such action as may be necessary to cause each other Member to become a “notice partner” within the meaning of Section section 6223 of the Code. Such Member Code and shall inform each other Member of all significant matters that may come to its attention in its capacity as Tax Matters Member” Member by giving notice thereof on or before the fifth Business Day business day after becoming aware thereof and, within that time, shall forward to each the other Member copies of all significant written communications it may receive in that capacity. Such The Tax Matters Member may not take any action contemplated by Sections sections 6222 through 6232 6231 of the Code without the consent Unanimous Consent of the Majority Vote of the Voting Members Company Board, but this sentence does not authorize such the Tax Matters Member to take any action left to the determination of an individual Member under Sections sections 6222 through 6232 6231 of the Code. The initial Tax Matters Member shall be Diversified Futures Trust I. Diversified Futures Trust I hereby appoints Preferred provide each Member, upon request, access to perform all necessary administrative procedures for accounting and on behalf of Diversified Futures Trust Itax information, as Tax Matters Member of workpapers and schedules related to the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Regency Energy Partners LP)

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Tax Matters Member. The Members shall designate one Member to be the “tax matters partner” (the “Tax Matters Member”) of the Company pursuant to Section section 6231(a)(7) of the CodeCode shall be GMX, if GMX is a Member or an Affiliate of a Member, or if not, as selected by the Board by Unanimous Consent. Such The Tax Matters Member shall take such action as may be necessary to cause each other Member to become a “notice partner” within the meaning of Section section 6223 of the Code. Such Member Code and shall inform each other Member of all significant matters that may come to its attention in its capacity as Tax Matters Member” 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. Such The Tax Matters Member may not take any action contemplated by Sections sections 6222 through 6232 6231 of the Code without the consent of the Majority Vote of the Voting Members Board, but this sentence does not authorize such the Tax Matters Member to take any action left to the determination of an individual Member under Sections sections 6222 through 6232 6231 of the Code. The initial Tax Matters Member shall be Diversified Futures Trust I. Diversified Futures Trust I hereby appoints Preferred provide any Member, upon request, access to perform all necessary administrative procedures for accounting and on behalf of Diversified Futures Trust Itax information, as Tax Matters Member of workpapers and schedules related to the Company.

Appears in 1 contract

Samples: Limited Liability Company Agreement (GMX Resources Inc)

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