Common use of Section 704(b) Limitation Clause in Contracts

Section 704(b) Limitation. Notwithstanding any other provision of this Agreement to the contrary, no allocation of any item of income or loss shall be made to a Partner if such allocation would not have "economic effect" pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii) or otherwise be in accordance with its interest in the Partnership within the meaning of Treasury Regulation Sections 1.704-1(b)(3) and 1.704-2. To the extent an allocation cannot be made to a Partner due to the application of this Section 6.7, such allocation shall be made to the other Partners entitled or required to receive such allocation hereunder.

Section 704(b) Limitation. Notwithstanding any other provision of this Agreement to the contrary, no allocation of any item of income income, gain or loss shall be made to a Partner if such allocation would not have "economic effect" pursuant to Treasury Regulation regulation Section 1.704-1(b)(2)(iil(b)(2)(ii) or otherwise be in accordance with its interest in the Partnership within the meaning of Treasury Regulation Sections regulation sections 1.704-1(b)(3l(b)(3) and 1.704-2l(b)(4)(iv) and this Agreement shall be deemed to incorporate the minimum gain chargeback provisions of Treasury regulation Section 1.704-l(b)(4)(iv)(e). To the extent an allocation cannot be made to a Partner due to the application of this Section 6.76.02, such allocation allocations shall be made to the other Partner or Partners entitled or required to receive such allocation hereunder.

Section 704(b) Limitation. Notwithstanding any other provision of this Agreement to the contrary, no allocation of any item of income or loss shall be made to a Partner if such allocation would not have "economic effect" pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii1.704(b)(2)(ii) or otherwise be in accordance with its interest in the Partnership within the meaning of Treasury Regulation Sections 1.704-1(b)(3) and 1.704-2. To the extent an allocation cannot be made to a Partner due to the application of this Section 6.74.4.4, such allocation shall be made to the other Partners entitled or required to receive such allocation hereunder.Partner(s) entitled

Section 704(b) Limitation. Notwithstanding any other provision of this Agreement to the contrary, no allocation of any item of income or loss shall be made to a Partner if such allocation would not have "“economic effect" ” pursuant to Treasury Regulation Section 1.704-1(b)(2)(ii) or otherwise be in accordance with its interest in the Partnership within the meaning of Treasury Regulation Sections 1.704-1(b)(3) and 1.704-2. To the extent an allocation cannot be made to a Partner due to the application of this Section 6.76.3(d), such allocation shall be made to the other Partners Partner(s) entitled or required to receive such allocation hereunder.