Tax Matters Partners. All the Partners hereby agree that the Special Limited Partner shall be the "Tax Matters Partner" pursuant to the Code and in connection with any audit of the federal income tax returns of the Partnership; provided, however, that if the Special Limited Partner shall withdraw from the Partnership or become Bankrupt, the General Partner shall thereafter be the "Tax Matters Partner". If the Tax Matters Partner shall determine to litigate any administrative determination relating to federal income tax matters, it shall litigate such matter in such court as the Tax Matters Partner shall decide in its sole discretion. In discharging its duties and responsibilities, the Tax Matters Partner shall act as a fiduciary (i) to the Limited Partner (to the exclusion of the other Partners) insofar as tax matters related to the Tax Credits are concerned, and (ii) to all of the Partners in other respects. The Limited Partner will make no claim against the Partnership in respect of any action or omission by the Tax Matters Partner during such time as the Special Limited Partner acts as the Tax Matters Partner.
Tax Matters Partners. If there is more than one Member, the Manager shall designate the Member to be the “tax matters partner” of the Company pursuant to Section 6231(a)(7) of the Code.
Tax Matters Partners. The Managers are the “Tax Matters Partner” of the Company pursuant to Code Section 6231(a)(7).
Tax Matters Partners. The Managers shall designate one Manager to be the "tax matters partner" of the Company pursuant to Section 6231 (a) (7) of the Code. Any Manager who is designated "tax matters partner" shall take any action as may be necessary to cause each other Member to become a "notice partner" within the meaning of Section 6223 of the Code.
Tax Matters Partners. The Partners hereby appoint the Managing General Partner as the "Tax Matters Partner" for purposes of Section 6231(a)(7) of the I.R.C.
Tax Matters Partners. 5.2 Member, Tenure and Qualification....................... 5.2.1 Managers........................................ 5.2.2 Term............................................ 5.3.3 Qualification................................... 5.3
Tax Matters Partners. The Members shall designate one Member to be -------------------- the "tax matters partner" of the Company pursuant to Section 6231(a) (7) of the Code. Any Member who is designated "tax matters partner" shall take any action as may be necessary to cause each other Member to become a "notice partner" within the meaning of Section 6223 of the Code.
Tax Matters Partners. The Managing General Partner is hereby designated as the "Tax Matters Partner' of the Partnership as said term is defined in Section 6231(a)(7) of the Code and any similar provision of. state or local law and agrees to: (i) furnish to the Partners within 10 days of its receipt by the Tax Matters Partner any relevant and material written information, return, statement or other document 4 supplied to the Tax Matters Partner by the Internal Revenue Service in connection with a Partnership level administrative proceeding under sections 6221 through 6233 of the Code, as amended from time to time; (ii) prosecute any petition for a readjustment of Partnership items filed by a Partner under section 6226 of the Code, as amended from time to time; (iii) if any adjustment is made by the Internal Revenue Service correcting a mathematical or clerical error on a Partnership information return, Form 1065, or Schedule K-1 and the Internal Revenue Service is incorrect in making such. adjustment, file a request, under section 6230(b) of the Code, as amended from time to time, that the correction not be made; and (iv) withhold tax pursuant to the Withholding Tax Certificate and in the amount directed a vote of the Majority of the Limited Partners. 12.9
Tax Matters Partners. 59 AMENDED AND RESTATED OPERATING AGREEMENT OF SPRING VALLEY TERRACE APARTMENTS, L.L.C. This Amended and Restated Operating Agreement is being entered into effective as of the date written below by and between Spring Valley Terrace, Inc., an Arizona nonprofit corporation as the managing member (the "Managing Member"), WNC Housing Tax Credit Fund VI, L.P., Series 5, a California limited partnership as a member (the "Investor Member"), WNC Housing, L.P., as the special member (the "Special Member") and Human Action for Chandler, an Arizona non-profit corporation, dba Coordinated Community Services of Arizona, as the withdrawing member (the "Withdrawing Member").
Tax Matters Partners. The Managing Member shall be the “tax matters partner” of the Company pursuant to Section 6231(a)(7) of the Code, and is hereby authorized and required to represent the Company (at the expense of the Company) in connection with all examinations of the affairs of the Company by tax authorities.
