Common use of Unitholder Minimum Gain Chargeback Clause in Contracts

Unitholder Minimum Gain Chargeback. Except as otherwise provided in Regulations, Section 1.704-2(i)(4), notwithstanding any other provision of this Section, if there is a net decrease in Unitholder Nonrecourse Debt Minimum Gain attributable to a Unitholder Nonrecourse Debt during any Fiscal Year, each Unitholder who has a share of the Unitholder Nonrecourse Debt Minimum Gain attributable to the Unitholder Nonrecourse Debt, determined in accordance with Regulations, Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for the Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to the Unitholder’s share of the net decrease in Unitholder Nonrecourse Debt, determined in accordance with Regulations, Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Unitholder pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations, Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 3.3(b) is intended to comply and shall be interpreted consistently with the minimum gain chargeback requirement in Regulations, Section 1.704-2(i)(4).

Unitholder Minimum Gain Chargeback. Except as otherwise provided in Regulations, Treasury Regulations Section 1.704-2(i)(4), notwithstanding any other provision of this Section2, if there is a net decrease in Unitholder Nonrecourse Debt Minimum Gain attributable to a Unitholder Nonrecourse Debt during any Fiscal Year, each Unitholder who has a share of the Unitholder Nonrecourse Debt Minimum Gain attributable to the such Unitholder Nonrecourse Debt, determined in accordance with Regulations, Treasury Regulations Section 1.704-2(i)(5)2, shall be specially allocated items of Company Trust income and gain for the such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to the such Unitholder’s share of the net decrease in Unitholder Nonrecourse Debt Minimum Gain attributable to such Unitholder Nonrecourse Debt, determined in accordance with Regulations, Treasury Regulations Section 1.704-2(i)(4)2. Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Unitholder pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations, Treasury Regulations Sections 1.704-2(i)(4) and 1.704-2(j)(2)2. This Section 3.3(b9.3(b)(i)(ii) is intended to comply and shall be interpreted consistently with the minimum gain chargeback requirement in Regulations, Section 1.704-2(i)(4)such section of the Treasury Regulations and shall be interpreted consistently therewith.