Common use of FUND MINIMUM GAIN CHARGEBACK Clause in Contracts

FUND MINIMUM GAIN CHARGEBACK. If there is a net decrease in Fund Minimum Gain during any Fiscal Year, each Shareholder shall be allocated items of Fund income and gain for such Fiscal Year (and, if necessary, for subsequent Fiscal Years) in proportion to, and to the extent of, an amount equal to such Shareholder's share of the net decrease in Fund Minimum Gain during such Fiscal Year, determined in accordance with Treasury Regulations Section 1.704-2(g). The requirement set forth in the preceding sentence shall be subject to the exceptions and limitations referred to in Treasury Regulations Section 1.704-2(f). This Section 6.7(c) is intended to constitute a "minimum gain chargeback" provision as described in Treasury Regulations Section 1.704-2(f) and shall be construed so as to meet the requirements of such Treasury Regulation.

FUND MINIMUM GAIN CHARGEBACK. If there is a net decrease in Fund Minimum Gain during any Fiscal Year, each Shareholder shall be allocated items of Fund income and gain for such Fiscal Year (and, if necessary, for subsequent Fiscal Years) in proportion to, and to the extent of, an amount equal to such Shareholder's share of the net decrease in Fund Minimum Gain during such Fiscal Year, determined in accordance with Treasury Regulations Section 1.704-2(g). The requirement set forth in the preceding sentence shall be subject to the exceptions and limitations referred to in Treasury Regulations Section 1.704-2(f). This Section 6.7(c6.5(c) is intended to constitute a "minimum gain chargeback" provision as described in Treasury Regulations Section 1.704-2(f) and shall be construed so as to meet the requirements of such Treasury Regulation.