LLC Minimum Gain Chargeback Clause Samples

LLC Minimum Gain Chargeback. If there is a net decrease in LLC Minimum Gain during any LLC taxable year, each Member will be specially allocated, before any other allocation of LLC income, gain, loss or deduction for the taxable year, items of LLC income and gain for the taxable year (and, if necessary, subsequent years) in proportion to and to the extent of an amount equal to each Member's share of the net decrease in LLC Minimum Gain determined in accordance with Treasury Regulation § 1.704-2(g)(2). This Section 4.2 of this Appendix intended to comply with, and will be interpreted consistently with, the "minimum gain chargeback" provisions of Treasury Regulation § 1.704-2(f).

LLC Minimum Gain Chargeback. Notwithstanding any other provisions of this Section 7, in the event there is a net decrease in LLC Minimum Gain during a taxable year, the Members shall be allocated items of income and gain in accordance with Treasury Regulation Section 1.704-2(f). This Section 7(d)(ii) is intended to comply with the minimum gain chargeback requirement of Treasury Regulation Section 1.704-2(f) and shall be interpreted and applied in a manner consistent therewith.

LLC Minimum Gain Chargeback. If the LLC Minimum Gain has a net decrease during any LLC Taxable Year, the Manager shall allocate items of LLC income and gain for the year (and, if necessary, for any subsequent years) in proportion to the respective amounts required to be allocated to each Member under Treasury Regulation Section 1.704-2(f) and (g). This provision is intended to comply with the minimum-gain chargeback requirement of Treasury Regulation Section 1.704-2. To the extent permitted by Treasury Regulation Section 1.704-2 and for purposes of this provision only, the Manager shall determine any deficit in each Member’s Capital Account before any other allocations under this Article with regard to the Taxable Year and without regard to any net decrease in Member Minimum Gain during the Taxable Year.

LLC Minimum Gain Chargeback. Except as otherwise provided in Regulations Section 1.704-2(f), notwithstanding any other provision of this Article 5, if there is a net decrease in LLC Minimum Gain during any Allocation Year, each Member shall be allocated items of LLC income and gain for such Allocation Year (and, if necessary, subsequent Allocation Years) in an amount equal to such Member's share of the net decrease in LLC Minimum Gain, determined in accordance with Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Sections 1.704-2(f)(6) and 1.704-2(j)(2). This Section 5.2(a) is intended to comply with the minimum gain chargeback requirement in Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.

LLC Minimum Gain Chargeback. Except as otherwise provided in Section 1.704-2(f) of the Treasury Regulations, notwithstanding any other provision of this Article 5, if there is a net decrease in LLC Minimum Gain during any fiscal year, each Member shall be specially allocated items of income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Member’s share of the net decrease in LLC Minimum Gain determined in accordance with Section 1.704-2(j)(2) of the Treasury Regulations. This paragraph (a) is intended to comply with the minimum gain chargeback requirement in Section 1.704-2(f) of the Treasury Regulations and shall be interpreted consistently therewith.

LLC Minimum Gain Chargeback. Notwithstanding any other provision herein, if there is a net decrease in LLC Minimum Gain during any LLC taxable period, each Member shall be allocated items of LLC income and gain for such period (and, if necessary, subsequent periods) in the manner and amounts provided in Regulations Sec. 1.704-2(f)(6), 1.704-2(g)(2) and 1.704-2(j)(2)(i), or any successor provision. For purposes of determining minimum gain, each Member’s Adjusted Capital Account balance shall be determined, and the allocation of income or gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this LLC Minimum Gain Chargeback provision with respect to such taxable period (other than allocations under the headings Nonrecourse Deductions and Member Nonrecourse Deductions below). This Section is intended to comply with the LLC Minimum Gain Chargeback requirement in Regulations Sec. 1.704-2(f) Ownership Interest Percentages set forth in Section 4.2.

LLC Minimum Gain Chargeback. Except as otherwise provided --------------------------- in Section 1.704-2(f) of the Regulations, notwithstanding any other provision of this Section 8.5, if there is a net decrease in LLC Minimum Gain during a Year of the LLC, each Member shall be specially allocated, before any other allocation under this Section 8.5, items of LLC income and gain for such Year of the LLC (and, if necessary, subsequent years) in proportion to and to the extent of an amount equal to such Member's share of the net decrease in LLC Minimum Gain determined in accordance with Regulation Section 1.704-2(g)(2). This Section 8.5(d)(i) is intended to comply with, and shall be interpreted consistently with, the "minimum gain chargeback" provisions of Regulation Section 1.704-2(f).