Common use of Gross Income Allocations Clause in Contracts

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period in excess of the sum of the amount such Partner is obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(c) or is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§1.704-2(g)(1) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account after all other allocations provided in this Section 5.2 have been tentatively made as if Section 5.2(c)(iv) were not in the Agreement.

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period Period that is in excess of the sum of (A) the amount such Partner is obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(cand (B) or the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§Regulation Sections 1.704-2(g)(12(g)(i) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv5.1(d) (iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account in excess of such sum after all other allocations provided for in this Section 5.2 5.1 have been tentatively made as if Section 5.2(c)(iv5.1(d) (iii) and this Section 5.1(d)(iv) were not in the this Agreement.

Gross Income Allocations. In the event any Partner Member has a deficit balance in its Adjusted Capital Account at the end of any Partnership Company taxable period in excess of the sum of the amount such Partner Member is obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(c) or is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§1.704-2(g)(1) and 1.704-2(i)(5), such Partner Member shall be specially allocated items of Partnership Company gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv5.02(c)(iv) shall be made only if and to the extent that such Partner Member would have a deficit balance in its Adjusted Capital Account after all other allocations provided in this Section 5.2 5.02 have been tentatively made as if Section 5.2(c)(iv5.02(c)(iv) were not in the Agreement.

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period that is in excess of the sum of (A) the amount such Partner is obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(cand (B) or the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§Regulation Sections 1.704-2(g)(12(g) and 1.704l.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv5.l(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account in excess of such sum after all other allocations provided for in this Section 5.2 5.1 have been tentatively made as if Section 5.2(c)(iv5.1(d)(iv) hereof and this Section 5.l(d)(v) were not in the Agreement.

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period that is in excess of the sum of (A) the amount such Partner is obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(cand (B) or the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§Regulation Section 1.704-2(g)(1) and 1.704-2(i)(5), 22 30 such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv5.1(d)(iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account in excess of such sum after all other allocations provided for in this Section 5.2 5.1 have been tentatively made as if Section 5.2(c)(iv5.1(d)(iii) and this Section 5.1(d)(iv) were not in the this Agreement.

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period in excess of the sum of (A) the amount such Partner is required to restore pursuant to the provisions of this Agreement and (B) the amount such Partner is deemed obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §Sections 1.704-1(b)(2)(ii)(c) or is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§1.704-2(g)(12(g) and 1.704-2(i)(5), such Partner shall be Western Gas Equity Partners, LP First Amended and Restated Agreement of Limited Partnership specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, provided that an allocation pursuant to this Section 5.2(c)(iv6.1(d)(v) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account as adjusted after all other allocations provided for in this Section 5.2 6.1 have been tentatively made as if this Section 5.2(c)(iv6.1(d)(v) were not in the this Agreement.

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period that is in excess of the sum of (A) the amount such Partner is obligated to restore pursuant to any provision provisions of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(cand (B) or the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§Regulation Sections 1.704-2(g)(11T(b)(4)(iv)(f) and 1.704-2(i)(51T(b)(4)(iv)(h)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess excesses as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv5.1.4 (d) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account in excess of such sum after all other allocations provided for in this Section 5.2 5.1 have been tentatively made as if Section 5.2(c)(iv5.1.4.(c) and this Section 5.1.4.(d) were not in the this Agreement.;

Gross Income Allocations. In the event any Partner has a deficit balance in its Adjusted Capital Account at the end of any Partnership taxable period Period that is in excess of the sum of (A) the amount such Partner is obligated to restore pursuant to any provision of this Agreement or pursuant to Treasury Regulation §1.704-1(b)(2)(ii)(cand (B) or the amount such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations §§1.704-2(g)(1Regulation Sections 1.704- 2(g)(i) and 1.704-2(i)(5), such Partner shall be specially allocated items of Partnership gross income and gain in the amount of such excess as quickly as possible; provided, that an allocation pursuant to this Section 5.2(c)(iv5.1(d) (iv) shall be made only if and to the extent that such Partner would have a deficit balance in its Adjusted Capital Account in excess of such sum after all other allocations provided for in this Section 5.2 5.1 have been tentatively made as if Section 5.2(c)(iv5.1(d) (iii) and this Section 5.1(d)(iv) were not in the this Agreement.