Common use of Company Minimum Gain Clause in Contracts

Company Minimum Gain. If there is a net decrease in “Company minimum gain” (i.e., partnership minimum gain, as defined in Treasury Regulations Section 1.704-2(d)) during a Fiscal Year, each Member with a share of Company minimum gain as of the beginning of the Fiscal Year shall be allocated items of Company income and gain for such Fiscal Year (and, as necessary, for subsequent years) equal to that Member’s share of the net decrease in Company minimum gain. This paragraph is intended to and shall in all events be interpreted and applied so as to constitute a “minimum gain chargeback” within the meaning of Treasury Regulations Section 1.704-2(f).

Company Minimum Gain. If there is a net decrease in “Company minimum gain” (i.e., partnership minimum gain, as defined in Treasury Regulations Section 1.704-2(d)) during a Fiscal Yearfiscal year, each Member with a share of Company minimum gain as of the beginning of the Fiscal Year fiscal year shall be allocated items of Company income and gain for such Fiscal Year fiscal year (and, as necessary, for subsequent years) equal to that Member’s share of the net decrease in Company minimum gain. This paragraph is intended to and shall in all events be interpreted and applied so as to constitute a “minimum gain chargeback” within the meaning of Treasury Regulations Section 1.704-2(f).