Common use of Adjusted Balance Clause in Contracts

Adjusted Balance. “Adjusted Balance” shall mean for each Partner, the balance in such Partner’s Capital Account increased by such Partner’s share of Partnership Minimum Gain and minimum gain attributable to partner nonrecourse debt. Each Partner’s share of such items shall be determined pursuant to Treasury Regulations Section 1.704-2. For purposes of computing the Adjusted Balances under Section 5.2, each dollar of income, gain or loss shall be treated as containing a proportionate share of each item of nonrecourse deductions of the Partnership (as defined and determined under Treasury Regulations Section 1.704-2) for such year, and in allocating each dollar of income, gain or loss, any items of nonrecourse deduction allocated with respect to such dollar income, gain or loss shall be added to the Adjusted Balances of the Partners to whom such allocations are made prior to determining the next dollar of income, gain or loss to be allocated.

Adjusted Balance. “Adjusted Balance” shall mean for each Partner, the balance in such Partner’s Capital Account increased by such Partner’s share of Partnership Minimum Gain and minimum gain attributable to partner nonrecourse debt. Each Partner’s share of such items shall be determined pursuant to Treasury Regulations Section 1.704-2. For purposes of computing the Adjusted Balances under Section 5.2, each dollar of income, gain or loss shall be treated as containing a proportionate share of each item of nonrecourse deductions of the Partnership (as defined and determined under Treasury Regulations Section 1.704-2) for such year, and in allocating each dollar of income, gain or loss, any items of nonrecourse deduction allocated with respect to such dollar of income, gain or loss shall be added to the Adjusted Balances of the Partners to whom such allocations are made prior to determining the next dollar of income, gain or loss to be allocated.