Required Allocations. Notwithstanding any other provision of this Section 5.1, the following special allocations shall be made for such taxable period:
Required Allocations. Prior to making any allocations provided above, the Managing Venturer may make such allocations of items of income, gain, loss and deduction as the Managing Venturer, in its sole discretion, deems necessary to comply with the provisions of the Allocation Regulations. In the event any such allocations are made, the Managing Venturer shall make such further allocations as it deems necessary such that, to the extent possible, the net amount of allocations pursuant to Section 5.1(a) and (b) would be equal to the amount that would have been allocated to each Venturer if the required allocations had not been made.
Required Allocations. 11 "Residual Gain".......................................................................... 11 "Residual Loss".......................................................................... 11 "Restricted Opportunity"................................................................. 11 "Securities Act"......................................................................... 12 "Special Approval"....................................................................... 12 "Substituted Limited Partner"............................................................ 12 "Surviving Business Entity".............................................................. 12 "Termination Capital Transactions"....................................................... 12 "Underwriter"............................................................................ 12 "Underwriting Agreement"................................................................. 12 "Unrealized Gain"........................................................................ 12 "Unrealized Loss"........................................................................ 12 "Withdrawal Opinion of Counsel".......................................................... 13
Required Allocations. 11 "Residual Gain" or "Residual Loss"......................................................................11 "Second Liquidation Target Amount"......................................................................11 "Second Target Distribution"............................................................................11 "Securities Act"........................................................................................12 "Subsidiary"............................................................................................12 "Substituted Limited Partner"...........................................................................12 "Surviving Business Entity".............................................................................12 "Termination Capital Transaction".......................................................................12 "Trading Day"...........................................................................................12 "Transfer Agent"........................................................................................12 "Transfer Application"..................................................................................12 "Unit" ...............................................................................................12 "Unit Certificate"......................................................................................12 "Unitholder"............................................................................................12 "Unrealized Gain".......................................................................................12 "Unrealized Loss".......................................................................................12 "Unrecovered Capital"...................................................................................12 "Unrecovered Initial Unit Price"........................................................................13
Required Allocations. Prior to making any allocations provided above, the following required allocations shall be made:
(1) Allocation Regulations. Items of Company income, gain, loss and deduction shall be allocated as necessary to cause the allocations provided in this Agreement to have economic effect or, with respect to nonrecourse deductions, to be deemed to be in accordance with the Members' interests in the Company, as provided in the Allocation Regulations. The allocations required pursuant to this Section 7.1(c)(i) are intended to constitute a "qualified income offset" and, if necessary, a "minimum gain chargeback" as such terms are defined in the Allocation Regulations.
Required Allocations. 13 "Residual Gain" or "Residual Loss"...................................... 13 "Securities Act"........................................................ 13 "Services Agreement".................................................... 13 "Special Approval"...................................................... 13 "Subsidiary"............................................................ 13 "Substituted Limited Partner"........................................... 14
Required Allocations. Residual Gain or Residual Loss. .
Required Allocations. 6.2.1 Allocations of revenue, income, gains, profits, deductions, credits, expenses, losses and tax preference items for Federal income tax purposes shall be made in the manner set forth in Section 6.1 for the division of income, expense, profit and loss. Notwithstanding the preceding sentence, any item of gain recognized by the Partnership upon a taxable disposition of property of the Partnership which would be a capital gain but for a provision of the Code which requires that some or all of the gain be treated as ordinary income because the realization of such gain is attributable to deductions or credits, whether with respect to depreciation or otherwise, previously allowed to the Partnership, shall be allocated to the Partners to which the prior deductions or credits were allocated in proportion to the amounts so allocated previously.
6.2.2 Before allocating profits and losses in accordance with Section 6.1, solely for tax purposes, profits and losses (and items thereof) attributable to property contributed to the Partnership by a Partner shall be allocated in accordance with Section 704(c) of the Code so as to take account of any variations between the tax bases of the Partnership's assets and the fair market values of those assets at the time of their contribution to the Partnership. The Partnership shall use a reasonable method, as determined by the Tax Matters Partner, of making Code Section 704(c) allocations as described in Treasury Regulations Section 1.704-3.
6.2.3 Notwithstanding any other provision of this Agreement, (i) no losses shall be allocated to a Limited Partner if such losses would cause a deficit in such Limited Partner's Capital Account (after reduction to reflect the items described in Treasury Regulations Sections 1.704-1(b)(2)(ii)(d)(4), (5) and (6)) that exceeds the sum of: (A) its share of "Partnership minimum gain" within the meaning of Treasury Regulations Section 1.704-2(g) and (B) its share of "Partner nonrecourse debt minimum gain" within the meaning of Treasury Regulations Section 1.704-2(i), (ii) nonrecourse deductions of the Partnership within the meaning of Treasury Regulations Section 1.704-2(b)(1), other than partner nonrecourse deductions within the meaning of Treasury Regulations Section 1.704-2(i)(1), shall be allocated among the Partners in accordance with their respective Percentage Interests, (iii) any partner nonrecourse deduction within the meaning of Treasury Regulations Section 1.704-2(i)(1) shall be alloc...
Required Allocations. Notwithstanding any other provision of this Article IV Section 8, the following special allocations shall be made for such taxable period:
(i) Trust Minimum Gain Chargeback. Notwithstanding any other provision of this Article IV Section 8, if there is a net decrease in Trust Minimum Gain during any Trust fiscal year or other applicable period, then, subject to the exceptions set forth in Treasury Regulations Sections 1.704-2(f)(2), (3), (4) and (5), each Shareholder shall be allocated items of Trust income and gain for such period (and, if necessary, subsequent periods) in an amount equal to such Shareholder’s share of Trust Minimum Gain, as determined in accordance with Treasury Regulations Section 1.704-2(g). This Article IV Section 8(c)(i) is intended to comply with the Trust Minimum Gain chargeback requirement in Treasury Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.
(ii) Chargeback of Shareholder Minimum Gain. Notwithstanding the other provisions of this Article IV Section 8 (other than Article IV Section 8(c)(i)), if there is a net decrease in Shareholder Minimum Gain attributable to a Shareholder Nonrecourse Debt during any Trust fiscal year or other applicable period, then, subject to the exception set forth in Treasury Regulations Section 1.704-2(i)(4), each Shareholder with a share of Shareholder Minimum Gain attributable to such Shareholder Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5), shall be allocated items of Trust income and gain for such period (and, if necessary, subsequent periods) in the manner and amounts provided in Treasury Regulations Sections 1.704-2(i)(4). This Article IV Section 8(c)(ii) is intended to comply with the chargeback of items of income and gain requirement in Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith.
Required Allocations. 13 "Residual Gain" or "Residual Loss" . . . . . . . . . . . . . . . . . 14 "Second Target Distribution" . . . . . . . . . . . . . . . . . . . . 14 "Securities Act" . . . . . . . . . . . . . . . . . . . . . . . . . . 14 "Special Limited Partner" . . . . . . . . . . . . . . . . . . . . . . 14 "Special Limited Partner Book Capital" . . . . . . . . . . . . . . . 14 "Substituted Limited Partner" . . . . . . . . . . . . . . . . . . . . 14 "Surviving Business Entity" . . . . . . . . . . . . . . . . . . . . . 14 "Termination Capital Transaction" . . . . . . . . . . . . . . . . . . 14 "Trading Day" . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 "Transfer Agent" . . . . . . . . . . . . . . . . . . . . . . . . . . 14 "Transfer Application" . . . . . . . . . . . . . . . . . . . . . . . 14 "Treasury Regulation" . . . . . . . . . . . . . . . . . . . . . . . . 14 "Underwriter" . . . . . . . . . . . . . . . . . . . . . . . . . . . . 14 "Underwriting Agreement" . . . . . . . . . . . . . . . . . . . . . . 14 "Unit" . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . . 15 -iii- 5
