Common use of Qualified Income Offset and Other Allocation Provisions Clause in Contracts

Qualified Income Offset and Other Allocation Provisions. (a) If there is a net decrease in "partnership minimum gain" (within the meaning of Regulation Section 1.704-2(d)) during a fiscal period, then there shall be allocated to each Shareholder items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such Shareholder's share of the net decrease in partnership minimum gain during such fiscal period that is allocable to the disposition of Fund Property subject to one or more Non-recourse Liabilities of the Fund. However, such allocation shall be reduced to the extent (i) the Shareholder contributes capital to the Fund that is used to repay the Non-recourse Liability and (ii) the Shareholder's share of the net decrease in partnership minimum gain is caused by the repayment. The foregoing is intended to be a "minimum gain chargeback" provision as described in Regulation Section 1.704-2(f), and shall be interpreted and applied in all respects in accordance with such Regulation. If there is a net decrease in the minimum gain attributable to a "partner non-recourse debt" (as defined in Regulation Section 1.704-2(b) (4)) for a fiscal period, then, in addition to the amounts, if any, allocated pursuant to the first sentence of this Subsection 7.4 (a), there shall be allocated to each Shareholder with a share of such minimum gain attributable to a "partner non-recourse debt" items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such Shareholder's share of the net decrease in the minimum gain attributable to a partner non-recourse debt during such fiscal period that is allocable to the disposition of Fund Property subject to one or more Non-recourse Liabilities of the Fund. However, such amount shall be reduced to the extent (i) the Shareholder contributes capital to the Fund that is used to repay the Non-recourse Liability and (ii) the Shareholder's share of the net decrease in the minimum gain attributable to a partner non-recourse debt is caused by the repayment.

Qualified Income Offset and Other Allocation Provisions. (a) If there is a net decrease in "partnership minimum gain" (within the meaning of Regulation Section 1.704-2(d)) during a fiscal period, then there shall be allocated to each Shareholder items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such Shareholder's share of the net decrease in partnership minimum gain during such fiscal period that is allocable to the disposition of Fund Property subject to one or more Non-recourse Liabilities liabilities of the Fund. However, such allocation shall be reduced to the extent (i) the Shareholder contributes capital to the Fund that is used to repay the Non-recourse Liability liability and (ii) the Shareholder's share of the net decrease in partnership minimum gain is caused by the repayment. The foregoing is intended to be a "minimum gain chargeback" provision as described in Regulation Section 1.704-2(f), and shall be interpreted and applied in all respects in accordance with such Regulation. If there is a net decrease in the minimum gain attributable to a "partner non-recourse debt" (as defined in Regulation Section 1.704-2(b) (4)) for a fiscal period, then, in addition to the amounts, if any, allocated pursuant to the first sentence of this Subsection 7.4 (a7.4(a), there shall be allocated to each Shareholder with a share of such minimum gain attributable to a "partner non-recourse debt" items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such Shareholder's share of the net decrease in the minimum gain attributable to a partner non-recourse debt during such fiscal period that is allocable to the disposition of Fund Trust Property subject to one or more Nonnon-recourse Liabilities liabilities of the Fund. However, such amount shall be reduced to the extent (i) the Shareholder contributes capital to the Fund that is used to repay the Non-recourse Liability liability and (ii) the Shareholder's share of the net decrease in the minimum gain attributable to a partner non-recourse debt is caused by the repayment.

Qualified Income Offset and Other Allocation Provisions. (a) If there is a net decrease in "partnership minimum gain" (within the meaning of Regulation Section 1.704-2(d)) during a fiscal period, then there shall be allocated to each Shareholder Interestholder items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such ShareholderInterestholder's share of the net decrease in partnership minimum gain during such fiscal period that is allocable to the disposition of Fund Company Property subject to one or more Non-recourse Liabilities nonrecourse liabilities of the FundCompany. However, such allocation shall be reduced to the extent (i) the Shareholder Interestholder contributes capital to the Fund Company that is used to repay the Non-recourse Liability nonrecourse liability and (ii) the ShareholderInterestholder's share of the net decrease in partnership minimum gain is caused by resorts from the repayment. The foregoing is intended to be a "minimum gain chargeback" provision as described in Regulation Section 1.704-2(f), and shall be interpreted and applied in all respects in accordance with such Regulation. If there is a net decrease in the minimum gain attributable to a "partner non-recourse nonrecourse debt" (as defined in Regulation Section 1.704-2(b) (4)) for a fiscal period, then, in addition to the amounts, if any, allocated pursuant to the first sentence of this Subsection 7.4 (a7.4(a), there shall be allocated to each Shareholder Interestholder with a share Interest of such minimum gain attributable to a "partner non-recourse nonrecourse debt" items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such ShareholderInterestholder's share of the net decrease in the minimum gain attributable to a partner non-recourse nonrecourse debt during such fiscal period that is allocable to the disposition of Fund Company Property subject to one or more Non-recourse Liabilities nonrecourse liabilities of the FundCompany. However, such amount shall be reduced to the extent (i) the Shareholder Interestholder contributes capital to the Fund Company that is used to repay the Non-recourse Liability nonrecourse liability and (ii) the ShareholderInterestholder's share of the net decrease in the minimum gain attributable to a partner non-recourse debt is caused by the repayment.net

Qualified Income Offset and Other Allocation Provisions. (a) If there is a net decrease in "“partnership minimum gain" ” (within the meaning of Regulation Section 1.704-2(d)) during a fiscal period, then there shall be allocated to each Shareholder items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such Shareholder's ’s share of the net decrease in partnership minimum gain during such fiscal period that is allocable to the disposition of Fund Property subject to one or more Non-recourse Liabilities of the Fund. However, such allocation shall be reduced to the extent (i) the Shareholder contributes capital to the Fund that is used to repay the Non-recourse Liability and (ii) the Shareholder's ’s share of the net decrease in partnership minimum gain is caused by the repayment. The foregoing is intended to be a "“minimum gain chargeback" ” provision as described in Regulation Section 1.704-2(f), and shall be interpreted and applied in all respects in accordance with such Regulation. If there is a net decrease in the minimum gain attributable to a "“partner non-recourse debt" ” (as defined in Regulation Section 1.704-2(b) (4)) for a fiscal period, then, in addition to the amounts, if any, allocated pursuant to the first sentence of this Subsection 7.4 (a7.4(a), there shall be allocated to each Shareholder with a share of such minimum gain attributable to a "“partner non-recourse debt" ” items of income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in proportion to, and to the extent of, an amount equal to the portion of such Shareholder's ’s share of the net decrease in the minimum gain attributable to a partner non-recourse debt during such fiscal period that is allocable to the disposition of Fund Property subject to one or more Non-recourse Liabilities of the Fund. However, such amount shall be reduced to the extent (i) the Shareholder contributes capital to the Fund that is used to repay the Non-recourse Liability and (ii) the Shareholder's ’s share of the net decrease in the minimum gain attributable to a partner non-recourse debt is caused by the repayment.