Distributions of Nonrecourse Liability Proceeds. If the Company makes a distribution to any Member that may be allocable to an increase in Company Minimum Gain pursuant to Treasury Regulations Section 1.704-2(h), then the Company shall, to the extent permitted by Treasury Regulations Section 1.704-2(h), minimize the amount of such distribution that is allocable to an increase in Company Minimum Gain.
Appears in 15 contracts
Samples: Limited Liability Company Agreement, Limited Liability Company Agreement (CNL Growth Properties, Inc.), Liability Company Agreement (CNL Growth Properties, Inc.)
Distributions of Nonrecourse Liability Proceeds. If during a Fiscal Year the Company makes a distribution to any Member that may be is allocable to the proceeds of any nonrecourse liability of the Company that is allocable to an increase in Company Minimum Gain pursuant to Treasury Regulations Section Regulation §1.704-2(h), then the Company shallshall elect, to the extent permitted by Treasury Regulations Section Regulation §1.704-2(h2(h)(3), minimize the amount of to treat such distribution as a distribution that is not allocable to an increase in Company Minimum Gain.
Appears in 6 contracts
Samples: Limited Liability Company Agreement (Sentio Healthcare Properties Inc), Limited Liability (Sentio Healthcare Properties Inc), Limited Liability Company Agreement (Sentio Healthcare Properties Inc)
Distributions of Nonrecourse Liability Proceeds. If If, during a fiscal year, the Company makes a distribution to any Member that may be is allocable to the proceeds of any nonrecourse liability of the Company that is allocable to an increase in Company Minimum Gain pursuant to Treasury Regulations Section 1.704-2(h), then the Company shallshall elect, to the extent permitted by Treasury Regulations Section 1.704-2(h2(h)(3), minimize the amount of to treat such distribution as a distribution that is not allocable to an increase in Company Minimum Gain.
Appears in 3 contracts
Samples: Limited Liability Company Agreement (Sunrise Assisted Living Inc), Limited Liability Company Agreement (Boykin Lodging Co), Limited Liability Company Agreement (Sunrise Assisted Living Inc)
Distributions of Nonrecourse Liability Proceeds. If If, during a Fiscal Year, the Company makes a distribution to any Member that may be is allocable to the proceeds of any nonrecourse liability of the Company that is allocable to an increase in Company Minimum Gain pursuant to Treasury Regulations Section 1.704-2(h), then the Company shallshall elect, to the extent permitted by Treasury Regulations Section 1.704-2(h2(h)(3), minimize the amount of to treat such distribution as a distribution that is not allocable to an increase in Company Minimum Gain.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (Susa Partnership Lp), Limited Liability Company Agreement (Storage Usa Inc)
Distributions of Nonrecourse Liability Proceeds. If If, during a Fiscal Year, the Company makes a distribution to any Member of the proceeds of any nonrecourse liability of the Company that may would otherwise be allocable to an increase in Company Minimum Gain partnership minimum gain pursuant to Treasury Regulations Regulation Section 1.704-2(h), then the Company shallmay elect, to the extent permitted by Treasury Regulations Regulation Section 1.704-2(h2(h)(3), minimize the amount of to treat such distribution as a distribution that is not allocable to an increase in Company Minimum Gainpartnership minimum gain.
Appears in 2 contracts
Samples: Limited Liability Company Agreement (First Capital Real Estate Trust Inc), Limited Liability Company Agreement (First Capital Real Estate Trust Inc)
Distributions of Nonrecourse Liability Proceeds. If the Company makes a distribution to any Member that may be allocable to an increase in Company Minimum Gain pursuant to Treasury Regulations Section 1.704-1.704 2(h), then the Company shall, to the extent permitted by Treasury Regulations Section 1.704-1.704 2(h), minimize the amount of such distribution that is allocable to an increase in Company Minimum Gain.
Appears in 1 contract
Samples: Limited Liability Company Agreement (CNL Growth Properties, Inc.)
