Chargebacks of Income and Gain. Notwithstanding any other provisions of the Agreement: (a) Company Minimum Gain. In the event that there is a net decrease in Company Minimum Gain for a taxable year of the Company, then before any other allocations are made for such taxable year, each Member shall be allocated items of Book income and gain for such year (and, if necessary, for subsequent years) to the extent required by Treas. Reg. §1.704-2(f).
Appears in 5 contracts
Samples: Operating Agreement, Operating Agreement, Operating Agreement
Chargebacks of Income and Gain. Notwithstanding any other provisions of the Agreement:
(a) Company Minimum Gain. In the event that there is a net decrease in Company Minimum Gain for a taxable year of the Company, then before any other allocations are made for such taxable year, each Member shall be allocated items of Book income and gain for such year (and, if necessary, for subsequent years) to the extent required by Treas. Reg. §Section 1.704-2(f).
Appears in 4 contracts
Samples: Limited Liability Company Agreement (Rouse Properties, Inc.), Limited Liability Company Agreement (Rouse Properties, Inc.), Members' Agreement (Stratosphere Corp)
Chargebacks of Income and Gain. Notwithstanding any other ------------------------------ provisions of the Agreement:
(a) Company Minimum Gain. In the event that there is a net decrease -------------------- in Company Minimum Gain for a taxable year of the Company, then before any other allocations are made for such taxable year, each Member shall be allocated items of Book income and gain for such year (and, if necessary, for subsequent years) to the extent required by Treas. Reg. §(S) 1.704-2(f).
Appears in 2 contracts
Samples: Members Agreement (Ebs Litigation LLC), Members Agreement (Ebs Pension LLC)
Chargebacks of Income and Gain. Notwithstanding any other provisions of the Agreement:
(a) Company Minimum Gain. In the event that there is a net decrease in Company Minimum Gain for a taxable year of the Company, then before any other allocations are made for such taxable year, each Member shall be allocated items of Book income and gain for such year (and, if necessary, for subsequent years) to the extent required by Treas. Reg. §Section 1.704-2(f).. ACTIVE 203377524v.3
Appears in 1 contract
Samples: Limited Liability Company Agreement (Rouse Properties, Inc.)
