Common use of Company Minimum Gain Clause in Contracts

Company Minimum Gain. Notwithstanding any other provision of this Section 4.2, and except as provided in Regulations Sections 1.704-2(f)(2), (3), (4) and (5), if there is a net decrease in Company Minimum Gain during any fiscal year or other period, each Member shall be specially allocated items of Company income and gain for such fiscal year or period (and, if necessary, subsequent fiscal years and periods) in an amount equal to such Member’s share of the net decrease in Company Minimum Gain, determined in accordance with Regulations Section 1.704-2(g). A Member’s share of the net decrease in Company Minimum Gain shall be determined in accordance with Regulations Section 1.704-2(g)(1). This Section 4.2(a) is intended to comply with the “minimum gain chargeback” requirement of Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.

Company Minimum Gain. Notwithstanding any other provision of this Section 4.2, and except Except as otherwise provided in Regulations Sections Section 1.704-2(f)(2), (3), (4) and (52(f), if there is a net decrease in Company Minimum Gain during any fiscal year or other periodFiscal Year, each Member shall be specially allocated items of Company income and gain for such fiscal year or period Fiscal Year (and, if necessary, subsequent fiscal years and periodsFiscal Years) in proportion to and to the extent of, an amount equal to the portion of such Member’s share of the net decrease in Company Minimum Gain, determined in accordance with Regulations Section 1.704-2(g). A Member’s share of Allocations pursuant to the net decrease in Company Minimum Gain previous sentence shall be determined made in accordance with Regulations Section 1.704-2(g)(1)proportion to the respective amounts required to be allocated to each Member pursuant thereto. This Section 4.2(a5.3(a) is intended to comply with the “minimum chargeback of items of income and gain chargeback” requirement of in Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.