Partnership Minimum Gain. Except as otherwise provided in Treasury Regulations section 1.704-2(f), if there is a net decrease in Partnership Minimum Gain during any Accounting Period, each Member shall be specially allocated items of Company income and gain for such Accounting Period in proportion to, and to the extent of, an amount equal to the portion of such Member’s share of the net decrease in Partnership Minimum Gain, determined in accordance with Treasury Regulations section 1.704-2(g). This Section 9.2(b) is intended to comply with the chargeback of items of income and gain requirement in Treasury Regulations section 1.704-2(f) and shall be interpreted consistently therewith.
Partnership Minimum Gain. “Partnership Minimum Gain” has the meaning set forth in Regulations Sections 1.704-2(b)(2) and 1.704-2(d).
Partnership Minimum Gain. Notwithstanding any other provisions of this Agreement, in the event there is a net decrease in Partnership Minimum Gain during a fiscal year, the Partners shall be allocated items of income and gain in accordance with Treasury Regulations Section 1.704-2(f). For purposes of this Agreement, the term “Partnership Minimum Gain” shall mean “Partnership Minimum Gain” as set forth in Treasury Regulations Section 1.704-2(b)(2), and any Partner’s share of Partnership Minimum Gain shall be determined in accordance with Treasury Regulations Section 1.704-2(g)(l). This Section 3.2(e)(i) is intended to comply with the minimum gain charge-back requirement of Treasury Regulations Section 1.704-2(f) and shall be interpreted and applied in a manner consistent therewith.
Partnership Minimum Gain. Except as set forth in Treas. Reg. Section 1.704-2(f)(2), notwithstanding any other provision of this Agreement, if, during any taxable year, there is a net decrease in Partnership Minimum Gain, each Interest Holder, prior to any other allocation pursuant to this Section 4, shall be specially allocated items of gross income and gain for such taxable year (and, if necessary, subsequent taxable years) in an amount equal to that Interest Holder's share of the net decrease in Partnership Minimum Gain, computed in accordance with Treas. Reg. Section 1.704-2(g). Allocations of gross income and gain pursuant to this Section 4.2.2. shall be made first from gain recognized from the disposition of Partnership assets subject to nonrecourse liabilities (within the meaning of the Regulations promulgated under Code Section 752), to the extent of the Partnership Minimum Gain attributable to those assets, and thereafter, from a pro rata portion of the Partnership's other items of income and gain for the taxable year. The items to be so allocated shall be determined in accordance with Treas. Reg. Sections 1.704-2(f)(6) and 1.704-2(j)(2). It is the intent of the parties hereto that any allocation pursuant to this Section 4.2.2. shall constitute a "minimum gain chargeback" under Treas. Reg. Section 1.704-2(f) and shall be interpreted consistently therewith.
Partnership Minimum Gain. If there is a net decrease in Partnership Minimum Gain for any fiscal year of the Partnership, there shall be allocated to each Partner for such fiscal year, before any other allocation is made of Partnership items under Article I or Article II of this Appendix, items of income and gain for such year (and, if necessary, for subsequent years) in proportion to, and to the extent of, an amount equal to the greater of: (1) the portion of such Partner's share of the net decrease in Partnership Minimum Gain during such fiscal year that is allocable (in accordance with the principles set forth in Section 1.704-IT(b)(4)(iv)(e)(2) of the Regulations) to the sale or other disposition of Partnership property subject to one or more Nonrecourse Liabilities of the Partnership; or (2) the deficit balance in such Partner's Adjusted Capital Account at the end of such fiscal year. The amount of such deficit balance which needs to be eliminated shall be reduced by the amount of such Partner's Share of Partnership Minimum Gain and such Partner's Share of Minimum Gain Attributable to Partner Nonrecourse Debt (computed, in each case, by reference to the amount of Partnership Minimum Gain and Minimum Gain Attributable to Partner Nonrecourse Debt after taking into account any changes thereto during such fiscal year). Items of income and gain to be allocated pursuant to the foregoing provisions of this paragraph shall consist first of gains recognized from the disposition of items of Partnership property subject to one or more Nonrecourse Liabilities of the Partnership to the extent of the decrease in Partnership Minimum Gain attributable to the disposition of such items of Partnership property (or a proportionate share of each such gain if such gains exceed the amount of income and gain required to be allocated pursuant to the foregoing provisions of this paragraph for such fiscal year), and then of a pro rata portion of the other items of Partnership income and gain for that year.
Partnership Minimum Gain. Except as otherwise provided in ------------------------ Treasury Regulations Section 1.704-2(f), if there is a net decrease in Partnership Minimum Gain during any Partnership Fiscal Year, each Partner shall be specially allocated items of Partnership income and gain for such period (and, if necessary, subsequent periods) in proportion to, and to the extent of, an amount equal to the
Partnership Minimum Gain. An amount determined pursuant to Regulation 1.704-2(d).
Partnership Minimum Gain. Except to the extent provided in Section 1.704-2(f)(2), (3), (4) and (5) of the Regulations, if there is, for any fiscal year of the Partnership, a net decrease in Partnership Minimum Gain, there shall be allocated to each Partner, before any other allocation pursuant to Article II hereof is made under Section 704(b) of the Code of Partnership items for such fiscal year, items of income and gain for such year (and, if necessary, for subsequent years) equal to such Partner's share of the net decrease in Partnership Minimum Gain. A Partner's share of the net decrease in Partnership Minimum Gain is the amount of such total net decrease multiplied by the Partner's percentage share of the Partnership's minimum gain at the end of the immediately preceding taxable year, determined in accordance with Section 1.704-2(g)(1) of the Regulations. Items of income and gain to be allocated pursuant to the foregoing provisions of this Section 2.4B(1) shall consist first of gains recognized from the disposition of items of Partnership Property subject to one or more Nonrecourse Liabilities of the Partnership, and then of a pro rata portion of the other items of Partnership income and gain for that year.
Partnership Minimum Gain. The Partnership minimum gain from time to time, determined as set forth in Treasury Regulation §§ 1.704-2(b)(2) and 1.704-2(d).
Partnership Minimum Gain. The aggregate gain, if any, that would be realised by the Company for purposes of computing Profits and Losses with respect to each Company asset if each Company asset subject to a Nonrecourse Liability were disposed of for the amount outstanding on the Nonrecourse Liability by the Company in a taxable transaction. Partnership Minimum Gain with respect to each Company asset shall be further determined in accordance with Regulations § 1.704-2(d) and any subsequent rule or regulation governing the determination of minimum gain. A Shareholder’s share of Partnership Minimum Gain at the end of any Fiscal Year shall equal the aggregate Nonrecourse Deductions allocated to such Shareholder (or its predecessors in interest) up to that time, less such Shareholder’s (and predecessors’) aggregate share of decreases in Partnership Minimum Gain determined in accordance with Regulations § 1.704-2(g).
