Common use of Member Minimum Gain Clause in Contracts

Member Minimum Gain. Except as otherwise provided in Treas. Reg. Section 1.704-2(i)(4), notwithstanding any other provision of this Agreement, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any taxable year, each Interest Holder who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treas. Reg. Section 1. 704-2(i)(5), shall be specially allocated items of income and gain for such taxable year (and, if necessary, subsequent taxable years) in an amount equal to such Interest Holder's share of the net decrease in Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treas. Reg. Section 1. 704-2(i)(4). Allocations pursuant to the previous sentence shall be determined in accordance with Treas. Reg. Sections 1.704-2(i)(4) and 1.704-2(j)(2). This Section 4.2.3. is intended to comply with the minimum gain chargeback requirement in Treas. Reg. Section 1. 704-2(i)(4) and shall be interpreted consistently therewith.

Member Minimum Gain. Except as otherwise provided in Treas. Reg. Section § 1.704-2(i)(4), notwithstanding any other provision of this Agreement, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any taxable year, each Interest Holder Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treas. Reg. Section 1. 704§ 1.704-2(i)(5), shall be specially allocated items of income and gain for such taxable year (and, if necessary, subsequent taxable years) in an amount equal to such Interest Holder's Member’s share of the net decrease in Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treas. Reg. Section 1. 704§ 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be determined in accordance with Treas. Reg. Sections §§ 1.704-2(i)(4) and 1.704-2(j)(2). This Section 4.2.3. 4.2(c) is intended to comply with the minimum gain chargeback requirement in Treas. Reg. Section 1. 704§ 1.704-2(i)(4) and shall be interpreted consistently therewith.

Member Minimum Gain. Except as otherwise provided in Treas. Reg. Section 1.704-2(i)(4§ 1.704‑2(i)(4), notwithstanding any other provision of this Agreement, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any taxable year, each Interest Holder who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treas. Reg. Section 1. 704-2(i)(5§ 1.704‑2(i)(5), shall be specially allocated items of income and gain for such taxable year (and, if necessary, subsequent taxable years) in an amount equal to such Interest Holder's ’s share of the net decrease in Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Treas. Reg. Section 1. 704-2(i)(4§ 1.704‑2(i)(4). Allocations pursuant to the previous sentence shall be determined in accordance with Treas. Reg. Sections 1.704-2(i)(4§§ 1.704‑2(i)(4) and 1.704-2(j)(21.704‑2(j)(2). This Section 4.2.3. is intended to comply with the minimum gain chargeback requirement in Treas. Reg. Section 1. 704-2(i)(4§ 1.704‑2(i)(4) and shall be interpreted consistently therewith.