Minimum Gain Chargeback—Partnership Nonrecourse Liabilities Sample Clauses

Minimum Gain Chargeback—Partnership Nonrecourse Liabilities. If there is a net decrease in Partnership Minimum Gain during any Partnership taxable year, certain items of income and gain shall be allocated (on a gross basis) to the Partners in the amounts and manner described in Section 1.704-2(f) of the Regulations. This Section 4.3(a)(i) is intended to comply with the minimum gain chargeback requirement (set forth in Section 1.704-2(f) of the Regulations) relating to Partnership nonrecourse liabilities (as defined in Section 1.704-2(b)(3) of the Regulations) and shall be so interpreted.

Minimum Gain Chargeback—Partnership Nonrecourse Liabilities. Notwithstanding any other provisions of this Article V, except as provided in Section 1.704-2(f)(2) through (5) of the Regulations, if there is a net decrease in Partnership Minimum Gain during any Company fiscal year or other period, then each Member shall be allocated items of Company income and gain for such year (and, if necessary, subsequent years) in the manner and in an amount provided in Sections 1.704-2(f), 1.704-2(g)(2) and 1.704-2(j)(2)(i)-(iii) of the Regulations, or any successor provisions. For purposes of this Section 5.5(b) only, each Member’s Adjusted Capital Account Deficit shall be determined prior to any other allocations pursuant to this Article V with respect to such fiscal year or other period (other than allocations pursuant to Section 5.5(e) or 5.5(f). The items to be so allocated shall be determined in accordance with Sections 1.704-2(f)(6) and 1.704-2(i)(2) of the Regulations. This Section 5.5(b) is intended to comply with the minimum gain chargeback requirement in Section 1.704-2(f) of the Regulations and shall be interpreted consistently therewith;

Minimum Gain Chargeback—Partnership Nonrecourse Liabilities. Notwithstanding any other provisions of Sections 4.1 and 4.3, except as provided in Section 1.704-2(f)(2) through (5) of the Regulations, if there is a net decrease in Partnership Minimum Gain during any fiscal year or other period, each Partner shall be allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in the manner and amount provided in Sections 1.704-2(f), 1.704-2(g)(2) and 1.704-2(j)(2)(i)-(iii) of the Regulations, or any successor provisions. For purposes of this Section 4.3(a)(i) only, each Partner’s Adjusted Capital Account Deficit shall be determined prior to any other allocations pursuant to Sections 4.1 and 4.3 with respect to such fiscal year or other period (other than allocations pursuant to Section 4.3(a)(vi) or 4.3(a)(viii)). This Section 4.3(a)(i) is intended to comply with the minimum gain chargeback requirement (set forth in Section 1.704-2(f) of the Regulations) relating to Partnership nonrecourse liabilities (as defined in Section 1.704-2(b)(3) of the Regulations) and shall be so interpreted.

Minimum Gain Chargeback—Partnership Nonrecourse Liabilities. If there is a net decrease in “partnership minimum gain” (as defined in Treasury Regulation §1.704-2(d)), items of Income (determined in accordance with Treasury Regulation §1.704-2(f)(6)) shall, to the extent required by the Treasury Regulations, be specially allocated to the Members in an amount equal to each Member’s share of the net decrease in partnership minimum gain (determined in accordance with Treasury Regulation §1.704-2(g)). This Section 4.2(a) shall be applied consistently with, and subject to the exceptions contained in, the minimum gain chargeback requirements of Treasury Regulation §1.704-2(1).