Unit Holder Nonrecourse Deductions Sample Clauses

Unit Holder Nonrecourse Deductions. Any Unit Holder Nonrecourse Deductions for any Fiscal Year shall be specially allocated to the Unit Holder who bears the economic risk of loss with respect to the Unit Holder Nonrecourse Debt to which such Unit Holder Nonrecourse Deductions are attributable in accordance with Regulations Section 1.704-2(i)(1).
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Unit Holder Nonrecourse Deductions. Any Unit Holder Nonrecourse Deduction for any taxable year or other period shall be specially allocated to the Unit Holder who bears the risk of loss with respect to the Unit Holder Nonrecourse Liability to which the Unit Holder Nonrecourse Deduction is attributable, as determined in accordance with Regulation Section 1.704-2(b).
Sample 1

Related to Unit Holder Nonrecourse Deductions

  • Nonrecourse Deductions Nonrecourse Deductions for any taxable period shall be allocated to the Partners in accordance with their respective Percentage Interests. If the General Partner determines that the Partnership’s Nonrecourse Deductions should be allocated in a different ratio to satisfy the safe harbor requirements of the Treasury Regulations promulgated under Section 704(b) of the Code, the General Partner is authorized, upon notice to the other Partners, to revise the prescribed ratio to the numerically closest ratio that does satisfy such requirements.

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