Allocation of Excess Nonrecourse Liabilities. For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s respective interest in Partnership profits shall be equal to such Holder’s Percentage Interest with respect to Partnership Common Units, except as otherwise determined by the General Partner.
Allocation of Excess Nonrecourse Liabilities. The Partnership shall allocate “nonrecourse liabilities” (within the meaning of Regulations Section 1.752-1(a)(2)) of the Partnership that are secured by multiple Properties under any reasonable method chosen by the General Partner in accordance with Regulations Section 1.752-3(a)(3) and (b). The Partnership shall allocate “excess nonrecourse liabilities” of the Partnership under any method approved under Regulations Section 1.752-3(a)(3) as chosen by the General Partner.
Allocation of Excess Nonrecourse Liabilities. For purposes of determining a Member’s proportional share of the “excess nonrecourse liabilities” of the Company within the meaning of Regulations Section 1.752-3(a)(3), each Member’s interest in Company profits shall be such Member’s Percentage Interest.
Allocation of Excess Nonrecourse Liabilities. For purposes of allocating the "excess nonrecourse liabilities" (within the meaning of Treasury Regulations Section 1.752-3(a)(3)) of the BRI Partnership among the partners (including the Transferor Partners), the BRI Partnership will allocate one-half of such excess nonrecourse liabilities among its partners based upon each partner's relative number of BRI Partnership Units (taking into account Restricted Distribution BRI Partnership Units) and the remainder of such excess nonrecourse liabilities will be allocated among the partners based on each partner's relative share of the BRI Partnership's Section 704(c) "minimum gain." The foregoing method shall not be modified by the BRI Partnership until the expiration of the No Transfer Period without the consent of the Transferor Agent (which consent may only be granted if none of the Transferor Partners is materially adversely affected unless the consent of such materially adversely affected Transferor Partners is obtained), provided however that in the event of a change in the Code, the Treasury Regulations, or published Internal Revenue Service ("IRS") rulings, notices or other administrative guidance, or in any private letter ruling issued to a taxpayer other than the BRI Partnership (any such change, a "Change in Law") such that, in the reasonable opinion of tax counsel to the BRI Partnership, based on such Change in Law, either (i) the foregoing method is no longer legally permissible, (ii) or an alternative method, not previously permitted, which results in more favorable tax consequences to each of the limited partners, including the Transferor Partners, of the BRI Partnership is currently permitted, the BRI Partnership, shall be entitled, without the consent of the Transferor Agent, to adopt an alternative method, provided further that, in the case of clause (i), the BRI Partnership shall choose the alternative method that minimizes to the extent reasonably possible, the adverse tax consequences to the Transferor Partners.
Allocation of Excess Nonrecourse Liabilities. The Partnership shall allocate “nonrecourse liabilities” (within the meaning of Regulations Section 1.752-1(a)(2)) of the Partnership that are secured by multiple Properties under any reasonable method chosen by the General Partner in accordance with Regulations Section 1.752-3(a)(3)(b). The Partnership shall allocate “excess nonrecourse liabilities” of the Partnership under any method approved under Regulations Section 1.752-3(a)(3) as chosen by the General Partner. For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder’s interest in Partnership profits shall be equal to such Holder’s share of Partnership Units.
Allocation of Excess Nonrecourse Liabilities. “Excess nonrecourse liabilities” of the Fund as used in Section 1.752-3(a)(3) of the Treasury Regulations will first be allocated among the Member pursuant to the “additional method” described in that section and then in accordance with the manner in which the Administrator expects the nonrecourse deductions allocable to those liabilities will be allocated.
Allocation of Excess Nonrecourse Liabilities. For purposes of section 752 of the Code and the regulations thereunder, the excess nonrecourse liabilities of the Partnership (within the meaning of Treas. Reg. (S) 1.752- 3(a)(3)), if any, shall be allocated to the Members in accordance with their respective Percentage Interests.
Allocation of Excess Nonrecourse Liabilities. All “excess nonrecourse liabilities,” as such term is defined in Treasury Regulation Section 1.752-3(a)(3), shall be allocated to the Members pro rata in proportion to their Units.
Allocation of Excess Nonrecourse Liabilities. For purposes of determining a Holder’s proportional share of the “excess nonrecourse liabilities” of the Partnership within the meaning of Regulation Section 1.752-3(a)(3), the General Partner may use any method of allocation described in Regulation Section 1.752-3(a)(3) and the relevant interpretative authorities.
Allocation of Excess Nonrecourse Liabilities. For purposes of determining a Holder's proportional share of the "excess nonrecourse liabilities" of the Partnership within the meaning of Regulations Section 1.752-3(a)(3), each Holder's interest in Partnership profits shall be such Holder's share of Partnership Common Units.
