Common use of Nonrecourse Debt Distribution Clause in Contracts

Nonrecourse Debt Distribution. To the extent permitted by Regulations Sections 1.704-2(h)(3) and 1.704-2(i)(6), the Directors shall endeavor to treat distributions as having been made from the proceeds of Nonrecourse Liabilities or Member Nonrecourse Debt only to the extent that such distributions would cause or increase a deficit balance in any Class B Member's Capital Account that exceeds the amount such Class B Member is otherwise obligated to restore (within the meaning of Regulations Section 1.704-1(b)(2)(ii)(c)) as of the end of the Company's taxable year in which the distribution occurs.

Nonrecourse Debt Distribution. To the extent permitted by Regulations Sections § 1.704-2(h)(3) and 1.704-2(i)(6), the Board of Directors shall endeavor to treat distributions as having been made from the proceeds of Nonrecourse Liabilities or Member Partner Nonrecourse Debt only to the extent that such distributions would cause or increase a deficit balance in any Class B Member's Investor’s Capital Account that exceeds the amount such Class B Member Investor is otherwise obligated to restore (within the meaning of Regulations Section § 1.704-1(b)(2)(ii)(c1(b)(ii)(c)) as of the end of the Company's Fund’s (or a Series’) taxable year in which the distribution occurs.

Nonrecourse Debt Distribution. To the extent permitted by Regulations Sections 1.704-2(h)(3) and 1.704-2(i)(6), the Directors Managing Members shall endeavor to treat distributions as having been made from the proceeds of Nonrecourse Liabilities or Member Nonrecourse Debt only to the extent that such distributions would cause or increase a deficit balance in any Class B Member's Capital Account that exceeds the amount such Class B Member is otherwise obligated to restore (within the meaning of Regulations Section 1.704-1(b)(2)(ii)(c)) as of the end of the Company's taxable year in which the distribution occurs.

Nonrecourse Debt Distribution. To the extent permitted by Regulations Sections 1.704-2(h)(3) and 1.704-2(i)(6), the Directors Managing Members shall endeavor to treat distributions as having been made from the proceeds of Nonrecourse Liabilities or Member Nonrecourse Debt only to the extent that such distributions would cause or increase a deficit balance in any Class B Member's Capital Account that exceeds the amount such Class B Member is otherwise obligated to restore (within the meaning of Regulations Section 1.704-1.704- 1(b)(2)(ii)(c)) as of the end of the Company's taxable year in which the distribution occurs.

Nonrecourse Debt Distribution. To the extent permitted by Regulations Sections § 1.704-2(h)(3) and 1.7041 .704-2(i)(6), the Directors Managing Member shall endeavor to treat distributions as having been made from the proceeds of Nonrecourse Liabilities or Member Nonrecourse Debt only to the extent that such distributions would cause or increase a deficit balance in any Class B Member's ’s Capital Account that exceeds the amount such Class B Member is otherwise obligated to restore (within the meaning of Regulations Section 1.704§ 1 .704-1(b)(2)(ii)(c1(b)(ii)(c)) as of the end of the Company's ’s taxable year in which the distribution occurs.

Nonrecourse Debt Distribution. To the extent ----------------------------- permitted by Regulations Sections 1.704-2(h)(3) and 1.704-2(i)(6), the Directors Managing Member shall endeavor to treat distributions as having been made from the proceeds of Nonrecourse Liabilities or Member Nonrecourse Debt only to the extent that such distributions would cause or increase a deficit balance in any Class B Member's Capital Account that exceeds the amount such Class B Member is otherwise obligated to restore (within the meaning of Regulations Section 1.704-1(b)(2)(ii)(c)) as of the end of the Company's taxable year in which the distribution occurs.