Common use of Member Minimum Gain Chargeback Clause in Contracts

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting period, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will be specially allocated items of Company income and gain for such period (and, if necessary, subsequent periods) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 5 contracts

Samples: Limited Liability Company Agreement (Crestwood Midstream Partners LP), Limited Liability Company Agreement (Crestwood Midstream Partners LP), Limited Liability Company Agreement (Crestwood Midstream Partners LP)

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Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany Allocation Period, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) ), will be specially allocated items of Company income and gain for such period Allocation Period (and, if necessary, subsequent periodsAllocation Periods) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii2(i)(4). This Section 5.02(b)(ii6.3(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (EIG BBTS Holdings, LLC), Limited Liability Company Agreement (TW Southcross Aggregator LP), Limited Liability Company Agreement (EIG BlackBrush Holdings, LLC)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii5.1(c)(iv) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 4 contracts

Samples: Limited Liability Company Agreement (Zentalis Pharmaceuticals, LLC), Limited Liability Company Agreement (Zentalis Pharmaceuticals, Inc.), Limited Liability Company Agreement (Zentalis Pharmaceuticals, LLC)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii) 5.2.2 is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (BridgeBio Pharma LLC), Joint Venture and Operating Agreement (Rentech Inc /Co/)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodFiscal Year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) ), will be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii5.03(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Signal Genetics LLC), Limited Liability Company Agreement (Signal Genetics LLC)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodtaxable year, then each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, for subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii2(i)(4). This Section 5.02(b)(ii6.3(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Sunoco Logistics Partners L.P.), Unitholders Agreement (Energy Transfer Partners, L.P.)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, then each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, for subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii2(i)(4). This Section 5.02(b)(ii6.02(b) is intended to comply with the partner nonrecourse debt Member Nonrecourse Debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Implementation Agreement (Arch Coal Inc), Implementation Agreement (Peabody Energy Corp)

Member Minimum Gain Chargeback. If there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodTaxable Year, each Member who has with a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, Debt Minimum Gain (determined in accordance with according to Treasury Regulations Regulation Section 1.704-2(i)(5)) will shall be specially allocated items of Company income and gain Profit for such period Taxable Year (and, if necessary, subsequent periodsTaxable Years) in an amount equal to such that Member’s share of the net decrease in Member Nonrecourse Debt Minimum Gain attributable Gain. The items to such Member Nonrecourse Debt, be so allocated shall be determined in a manner consistent accordance with the provisions of Treasury Regulations Section Regulation Sections 1.704-2(g)(22(i)(4) and (j)(2)(ii1.704-2(j). This Section 5.02(b)(ii4.2(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback chargeback” requirement of in Treasury Regulations Regulation Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Limited Liability Company Operating Agreement (Concreit Series LLC), Limited Liability Company Operating Agreement (Concreit Series LLC)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section Sections 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Nextracker Inc.), Limited Liability Company Agreement (Nextracker Inc.)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, then each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section § 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, for subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section § 1.704-2(g)(2) and (j)(2)(ii2(i)(4). This Section 5.02(b)(ii6.2(b) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section § 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 2 contracts

Samples: Limited Liability Company Agreement (Boardwalk Pipeline Partners, LP), Limited Liability Company Agreement (Boardwalk Pipeline Partners, LP)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member Holder who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such MemberHolder’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section Sections 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii5.3(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Regulation Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Summit Midstream Partners, LP)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Company Minimum Gain attributable to such Member Company Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii14(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Gates Engineering & Services FZCO)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent accordance with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii2(i)(3). This Section 5.02(b)(ii8.2(b) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Operating Agreement (Amneal Pharmaceuticals, Inc.)

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Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting Company fiscal year or other period, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) ), will be specially allocated items of Company income and gain for such fiscal year or other period (and, if necessary, subsequent years or periods) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(22(i)(4) and (j)(2)(ii1.704-2(j)(2). This Section 5.02(b)(ii5.2(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Black Ridge Oil & Gas, Inc.)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii7.3(b) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Onconova Therapeutics, Inc.)

Member Minimum Gain Chargeback. If Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), if there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodAllocation Year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) ), will be specially allocated items of Company income and gain for such period that year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). Allocations under the previous sentence will be made in accordance with Treasury Regulations Section 1.704-2(i)(4). This Section 5.02(b)(ii6.2(b) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of in Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewithwith that requirement.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Exco Resources Inc)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, then each Member who has a share of the Member Company Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, for subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Company Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii2(i)(4). This Section 5.02(b)(ii5.5(c)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Enbridge Energy Partners Lp)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodCompany taxable year, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) ), will be specially allocated items of Company income and gain for such period taxable year (and, if necessary, subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(iiAppendix A-1(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Seaspan CORP)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting Tax Year or other period, each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) ), will be specially allocated items of Company income and gain for such Tax Year or other period (and, if necessary, subsequent years or periods) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section Sections 1.704-2(g)(2) and (j)(2)(ii). This Section 5.02(b)(ii5.3(b)(ii) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Evolve Transition Infrastructure LP)

Member Minimum Gain Chargeback. If there is a net decrease in Member Minimum Gain attributable to a Member Nonrecourse Debt during any applicable accounting periodtaxable year, then each Member who has a share of the Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treasury Regulations Section 1.704-2(i)(5) will ), shall be specially allocated items of Company income and gain for such period taxable year (and, if necessary, for subsequent periodsyears) in an amount equal to such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in a manner consistent with the provisions of Treasury Regulations Section 1.704-2(g)(2) and (j)(2)(ii2(i)(4). This Section 5.02(b)(ii6.3(b)(2) is intended to comply with the partner nonrecourse debt minimum gain chargeback requirement of Treasury Regulations Section 1.704-2(i)(4) and will shall be interpreted consistently therewith.

Appears in 1 contract

Samples: Limited Liability Company Agreement (Sunoco Logistics Partners L.P.)

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