Common use of Partner Nonrecourse Debt Minimum Gain Chargeback Clause in Contracts

Partner Nonrecourse Debt Minimum Gain Chargeback. Notwithstanding any provision hereof to the contrary except Section A-4(c) (dealing with Minimum Gain), if there is a net decrease in Partner Nonrecourse Debt Minimum Gain for an Allocation Period (or if there was a net decrease in Partner Nonrecourse Debt Minimum Gain for a prior Allocation Period and the C.V. did not have sufficient amounts of income and gain during prior periods to allocate among the Partners under this Section A-4(d), items of income and gain shall be allocated to each Partner in an amount equal to such Partner’s share of the net decrease in Partner Nonrecourse Debt Minimum Gain (as determined pursuant to Treasury Regulation Section 1.704-2(i)(4)). This Section A-4(d) is intended to constitute a partner nonrecourse debt minimum gain chargeback under Treasury Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith.

Partner Nonrecourse Debt Minimum Gain Chargeback. Notwithstanding any provision hereof to the contrary except Section A-4(c) (dealing with Minimum Gain), if If there is a net decrease in Partner Nonrecourse Debt Minimum Gain for an Allocation Period (or if there was attributable to a net decrease in Partner Nonrecourse Debt during any Company Fiscal Year, then each Member who has a share of the Partner Nonrecourse Debt Minimum Gain for a prior Allocation Period and the C.V. did not have sufficient amounts attributable to such Partner Nonrecourse Debt, determined in accordance with Regulations Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain during prior periods to allocate among the Partners under this Section A-4(d)for such Fiscal Year (and, items of income and gain shall be allocated to each Partner if necessary, for subsequent years) in an amount equal to such PartnerMember’s share of the net decrease in Partner Nonrecourse Debt Minimum Gain (as attributable to such Partner Nonrecourse Debt, determined pursuant to Treasury Regulation in a manner consistent with the provisions of Regulations Section 1.704-2(i)(4)). This Section A-4(d4.04(b) is intended to constitute a comply with the partner nonrecourse debt minimum gain chargeback under Treasury Regulation requirement of Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith.