Common use of Chargeback of Minimum Gain Attributable to Member Nonrecourse Debt Clause in Contracts

Chargeback of Minimum Gain Attributable to Member Nonrecourse Debt. Notwithstanding the other provisions of this Section 9.1 (other than Section 9.1(b)(i)), except as provided in Treasury Regulation section 1.704-2(i)(4), if there is a net decrease in Member Nonrecourse Debt Minimum Gain during any Company taxable period, either Member with a share of Member Nonrecourse Debt Minimum Gain at the beginning of such taxable period shall be allocated items of Company income and gain for such taxable period (and, if necessary, subsequent taxable periods) in the manner and amounts provided in Treasury Regulation sections 1.704-2(i)(4) and 1.704-2(j)(2)(ii), or any successor provisions. For purposes of this Section 9.1(b), each Member’s Adjusted Capital Account balance shall be determined, and the allocation of income or gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this Section 9.1(b), other than Section 9.1(b)(i) and other than an allocation pursuant to Sections 9.1(b)(vi) and 9.1(b)(ix), with respect to such taxable period. This Section 9.1(b)(ii) is intended to comply with the chargeback of items of income and gain requirement in Treasury Regulation section 1.704-2(i)(4) and shall be interpreted consistently therewith.

Chargeback of Minimum Gain Attributable to Member Nonrecourse Debt. Notwithstanding the other provisions of this Section 9.1 (other than Section 9.1(b)(i))5.01, except Section 5.01(b) and as provided in Treasury Regulation section Regulations Section 1.704-2(i)(4), if there is a net decrease in Minimum Gain Attributable to Member Nonrecourse Debt Minimum Gain during any Company determined in accordance with Treasury Regulations Section 1.704-2(i)(5) at the beginning of a taxable period, either any Member with a share of Minimum Gain Attributable to Member Nonrecourse Debt Minimum Gain at the beginning of such taxable period shall be allocated items of Company income and gain for such taxable period (and, if necessary, subsequent taxable periods) in the manner and amounts provided in Treasury Regulation sections Regulations Sections 1.704-2(i)(4) and 1.704-2(j)(2)(ii), or any successor provisions. For purposes of this Section 9.1(b5.01(c), each Member’s Adjusted Capital Account balance shall be determined, and the allocation of income or gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this Section 9.1(b), other than Section 9.1(b)(i) and 5.01 with respect to such taxable period (other than an allocation pursuant to Sections 9.1(b)(vi) and 9.1(b)(ixSection 5.01(b), with respect to such taxable period. This Section 9.1(b)(ii) is intended to comply with the chargeback of items of income and gain requirement in Treasury Regulation section 1.704-2(i)(4) and shall be interpreted consistently therewith).

Chargeback of Minimum Gain Attributable to Member Nonrecourse Debt. Notwithstanding the other provisions of this Section 9.1 5.1 (other than Section 9.1(b)(i5.1(d)(i)), except as provided in Treasury Regulation section 1.704-2(i)(4), if there is a net decrease in Member Nonrecourse Debt Minimum Gain during any Company Trinity taxable period, either any Trinity Member with a share of Member Nonrecourse Debt Minimum Gain at the beginning of such taxable period shall be allocated items of Company Trinity income and gain for such taxable period (and, if necessary, subsequent taxable periods) in the manner and amounts provided in Treasury Regulation sections 1.704-2(i)(4) and 1.704-2(j)(2)(ii), or any successor provisions. For purposes of this Section 9.1(b5.1(d), each Trinity Member’s Adjusted Capital Account balance shall be determined, and the allocation of income or gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this Section 9.1(b5.1(d), other than Section 9.1(b)(i5.1(d)(i) and other than an allocation pursuant to Sections 9.1(b)(viSection 5.1(d)(vi) and 9.1(b)(ixSection 5.1(d)(vii), with respect to such taxable period. This Section 9.1(b)(ii5.1(d)(ii) is intended to comply with the chargeback of items of income and gain requirement in Treasury Regulation section 1.704-2(i)(4) and shall be interpreted consistently therewith.

Chargeback of Minimum Gain Attributable to Member Nonrecourse Debt. Notwithstanding the other provisions of this Section 9.1 6.2 (other than Section 9.1(b)(i)6.2(a) hereof), except as provided in Treasury Regulation section Section 1.704-2(i)(4), if there is a net decrease in Minimum Gain Attributable to Member Nonrecourse Debt Minimum Gain during any Company determined in accordance with Treasury Regulation Section 1.704-2(i)(5) at the beginning of a taxable period, either any Member with a share of Minimum Gain Attributable to Member Nonrecourse Debt Minimum Gain at the beginning of such taxable period shall be allocated items of Company income and gain for such taxable period (and, if necessary, subsequent taxable periods) in the manner and in the amounts provided in Treasury Regulation sections Sections 1.704-2(i)(4) and 1.704-2(j)(2)(ii), or any successor provisions. This Section 6.2(b) is intended to comply with the minimum gain chargeback requirement in Treasury Regulation Section 1.704-2(i) and shall be interpreted consistently therewith. For purposes of this Section 9.1(b6.2(b), each Member’s Adjusted Capital Account balance shall be determined, and the allocation of income or gain required hereunder shall be effected, prior to the application of any other allocations pursuant to this Section 9.1(b), other than Section 9.1(b)(i) and 6.2 with respect to such taxable period (other than an allocation pursuant to Sections 9.1(b)(vi) and 9.1(b)(ixSection 6.2(a), with respect to such taxable period. This Section 9.1(b)(ii) is intended to comply with the chargeback of items of income and gain requirement in Treasury Regulation section 1.704-2(i)(4) and shall be interpreted consistently therewith).