{"component": "clause", "props": {"groups": [{"samples": [{"hash": "k4QoBZPxsW0", "uri": "/contracts/k4QoBZPxsW0#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Rexford Industrial Realty, Inc.)", "score": 30.716632843, "published": true}, {"hash": "fo6pj7xRayi", "uri": "/contracts/fo6pj7xRayi#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Rexford Industrial Realty, Inc.)", "score": 30.2730998993, "published": true}, {"hash": "fdJp0NMK9rw", "uri": "/contracts/fdJp0NMK9rw#minimum-gain-chargeback", "label": "Agreement of Limited Partnership (Rexford Industrial Realty, Inc.)", "score": 28.8658447266, "published": true}], "snippet": "Except as otherwise provided in Regulations Section 1.704-2(f), notwithstanding the provisions of Section 6.2 hereof, or any other provision of this Article 6, if there is a net decrease in Partnership Minimum Gain during any Partnership Year, each Holder shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Holder\u2019s share of the net decrease in Partnership Minimum Gain, as determined under Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Holder pursuant thereto. The items to be allocated shall be determined in accordance with Regulations Sections 1.704-2(f)(6) and 1.704-2(j)(2). This Section 6.4.A(i) is intended to qualify as a \u201cminimum gain chargeback\u201d within the meaning of Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.", "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "section-62", "type": "clause", "offset": [98, 109]}, {"key": "provision-of", "type": "clause", "offset": [131, 143]}, {"key": "article-6", "type": "clause", "offset": [149, 158]}, {"key": "decrease-in-partnership-minimum-gain", "type": "clause", "offset": [178, 214]}, {"key": "partnership-year", "type": "clause", "offset": [226, 242]}, {"key": "income-and-gain", "type": "clause", "offset": [306, 321]}, {"key": "subsequent-years", "type": "clause", "offset": [356, 372]}, {"key": "equal-to", "type": "definition", "offset": [387, 395]}, {"key": "the-net", "type": "clause", "offset": [419, 426]}, {"key": "pursuant-to-the", "type": "clause", "offset": [529, 544]}, {"key": "allocated-to", "type": "definition", "offset": [632, 644]}, {"key": "the-items", "type": "definition", "offset": [675, 684]}, {"key": "in-accordance-with", "type": "definition", "offset": [721, 739]}, {"key": "to-qualify", "type": "clause", "offset": [828, 838]}, {"key": "meaning-of", "type": "definition", "offset": [881, 891]}], "size": 362, "hash": "1e59aabc581de6c64e636a1249b51e2c", "id": 1}, {"samples": [{"hash": "bqjtyTuTaUU", "uri": "/contracts/bqjtyTuTaUU#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Brookfield Oaktree Holdings, LLC)", "score": 36.2142372131, "published": true}, {"hash": "lJmGxdYXVDO", "uri": "/contracts/lJmGxdYXVDO#minimum-gain-chargeback", "label": "Master Agreement (Beneficient)", "score": 35.9760437012, "published": true}, {"hash": "9WItzymOdKc", "uri": "/contracts/9WItzymOdKc#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Beneficient)", "score": 35.5188217163, "published": true}], "snippet": "If there is a net decrease in Partnership Minimum Gain or Partner Nonrecourse Debt Minimum Gain (determined in accordance with the principles of Treasury Regulations Sections 1.704-2(d) and 1.704-2(i)) during any Partnership taxable year, the Partners shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount equal to their respective shares of such net decrease during such year, determined pursuant to Treasury Regulations Sections 1.704-2(g) and 1.704-2(i)(5). The items to be so allocated shall be determined in accordance with Treasury Regulations Section 1.704-2(f). This Section 5.05(a) is intended to comply with the minimum gain chargeback requirements in such Treasury Regulations Sections and shall be interpreted consistently therewith; including that no chargeback shall be required to the extent of the exceptions provided in Treasury Regulations Sections 1.704-2(f) and 1.704-2(i)(4).", "snippet_links": [{"key": "decrease-in-partnership-minimum-gain", "type": "clause", "offset": [18, 54]}, {"key": "partner-nonrecourse-debt-minimum-gain", "type": "definition", "offset": [58, 95]}, {"key": "in-accordance-with", "type": "definition", "offset": [108, 126]}, {"key": "the-principles", "type": "clause", "offset": [127, 141]}, {"key": "treasury-regulations", "type": "definition", "offset": [145, 165]}, {"key": "taxable-year", "type": "definition", "offset": [225, 237]}, {"key": "the-partners", "type": "definition", "offset": [239, 251]}, {"key": "income-and-gain", "type": "clause", "offset": [302, 317]}, {"key": "subsequent-years", "type": "clause", "offset": [352, 368]}, {"key": "equal-to", "type": "definition", "offset": [383, 391]}, {"key": "shares-of", "type": "clause", "offset": [409, 418]}, {"key": "pursuant-to-treasury", "type": "clause", "offset": [466, 486]}, {"key": "the-items", "type": "definition", "offset": [538, 547]}, {"key": "comply-with-the", "type": "clause", "offset": [683, 698]}, {"key": "to-the-extent", "type": "clause", "offset": [870, 883]}], "size": 279, "hash": "891744416bae529b87bdd12fb9fa3193", "id": 2}, {"samples": [{"hash": "ftqo4JWtX3S", "uri": "/contracts/ftqo4JWtX3S#minimum-gain-chargeback", "label": "Operating Agreement (Gratus Capital Properties Fund III LLC)", "score": 36.3237495422, "published": true}, {"hash": "DMhldnkPxA", "uri": "/contracts/DMhldnkPxA#minimum-gain-chargeback", "label": "Operating Agreement (Gratus Capital Properties Fund III LLC)", "score": 36.3237495422, "published": true}, {"hash": "bYV2ffbmx9", "uri": "/contracts/bYV2ffbmx9#minimum-gain-chargeback", "label": "Operating Agreement (Holiday Lifestyle Fund I)", "score": 32.3141670227, "published": true}], "snippet": "Except as otherwise provided in section 1.704-2 of the Treasury Regulations, and notwithstanding any other provision of this Section, if there is a net decrease in Company Minimum Gain during any Fiscal Year, each Member shall be specially allocated items of Company Profits for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to such Member's share of the net decrease in Company Minimum Gain, determined in accordance with Treasury Regulation section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with sections 1.704-2(f)(6), 1.704-2(j) (2), and other applicable provisions in section 1.704-2 of the Treasury Regulations. This Section is intended to comply with the minimum gain chargeback requirement in section 1.704-2(f) of the Treasury Regulations and shall be applied consistently therewith.", "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "treasury-regulations", "type": "definition", "offset": [55, 75]}, {"key": "provision-of", "type": "clause", "offset": [107, 119]}, {"key": "net-decrease", "type": "definition", "offset": [148, 160]}, {"key": "company-minimum-gain", "type": "definition", "offset": [164, 184]}, {"key": "each-member", "type": "definition", "offset": [209, 220]}, {"key": "company-profits", "type": "definition", "offset": [259, 274]}, {"key": "subsequent-fiscal-years", "type": "clause", "offset": [316, 339]}, {"key": "equal-to", "type": "definition", "offset": [354, 362]}, {"key": "the-net", "type": "clause", "offset": [386, 393]}, {"key": "in-accordance-with", "type": "definition", "offset": [439, 457]}, {"key": "pursuant-to-the", "type": "clause", "offset": [510, 525]}, {"key": "allocated-to", "type": "definition", "offset": [613, 625]}, {"key": "the-items", "type": "definition", "offset": [656, 665]}, {"key": "other-applicable-provisions", "type": "definition", "offset": [768, 795]}, {"key": "comply-with-the", "type": "clause", "offset": [872, 887]}], "size": 275, "hash": "dd5ed10a6079c0861297c0efe0b5153e", "id": 3}, {"samples": [{"hash": "5dCVKv1bv7G", "uri": "/contracts/5dCVKv1bv7G#minimum-gain-chargeback", "label": "Agreement of Limited Partnership (FrontView REIT, Inc.)", "score": 35.7652282715, "published": true}, {"hash": "305b5J3ZOdv", "uri": "/contracts/305b5J3ZOdv#minimum-gain-chargeback", "label": "Agreement of Limited Partnership (FrontView REIT, Inc.)", "score": 35.6885681152, "published": true}, {"hash": "fluTTE69QkM", "uri": "/contracts/fluTTE69QkM#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Freehold Properties, Inc.)", "score": 32.8056144714, "published": true}], "snippet": "Notwithstanding the provisions of Section 6.1 of the Agreement or any other provisions of this Exhibit C, if there is a net decrease in Partnership Minimum Gain during any Fiscal Year, each Partner shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Partner\u2019s share of the net decrease in Partnership Minimum Gain, as determined under Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Section 1.704-2(f)(6). This Section 1.A is intended to comply with the minimum gain chargeback requirements in Regulations Section 1.704-2(f) and for purposes of this Section 1.A only, each Partner\u2019s Adjusted Capital Account Deficit shall be determined prior to any other allocations pursuant to Section 6.1 of the Agreement or this Exhibit C with respect to such Fiscal Year and without regard to any decrease in Partner Minimum Gain during such Fiscal Year.", "snippet_links": [{"key": "section-61", "type": "clause", "offset": [34, 45]}, {"key": "agreement-or", "type": "definition", "offset": [53, 65]}, {"key": "exhibit-c", "type": "definition", "offset": [95, 104]}, {"key": "decrease-in-partnership-minimum-gain", "type": "clause", "offset": [124, 160]}, {"key": "fiscal-year", "type": "clause", "offset": [172, 183]}, {"key": "income-and-gain", "type": "clause", "offset": [248, 263]}, {"key": "subsequent-years", "type": "clause", "offset": [298, 314]}, {"key": "equal-to", "type": "definition", "offset": [329, 337]}, {"key": "the-net", "type": "clause", "offset": [362, 369]}, {"key": "pursuant-to-the", "type": "clause", "offset": [472, 487]}, {"key": "allocated-to", "type": "definition", "offset": [575, 587]}, {"key": "the-items", "type": "definition", "offset": [619, 628]}, {"key": "in-accordance-with", "type": "definition", "offset": [668, 686]}, {"key": "comply-with-the", "type": "clause", "offset": [754, 769]}, {"key": "for-purposes-of-this-section", "type": "clause", "offset": [845, 873]}, {"key": "adjusted-capital-account-deficit", "type": "definition", "offset": [899, 931]}, {"key": "prior-to", "type": "clause", "offset": [952, 960]}, {"key": "other-allocations", "type": "clause", "offset": [965, 982]}, {"key": "pursuant-to-section", "type": "definition", "offset": [983, 1002]}, {"key": "with-respect-to", "type": "clause", "offset": [1042, 1057]}, {"key": "partner-minimum-gain", "type": "clause", "offset": [1113, 1133]}], "size": 221, "hash": "4a7f4966501eab713a8a9787d20f7cc0", "id": 4}, {"samples": [{"hash": "d4zPlPbfY6A", "uri": "/contracts/d4zPlPbfY6A#minimum-gain-chargeback", "label": "Limited Liability Company Agreement (Oasis Midstream Partners LP)", "score": 30.1581115723, "published": true}, {"hash": "6Nm3uAyy3M8", "uri": "/contracts/6Nm3uAyy3M8#minimum-gain-chargeback", "label": "Limited Liability Company Agreement (Oasis Midstream Partners LP)", "score": 30.1581115723, "published": true}, {"hash": "grE6KWX3c8w", "uri": "/contracts/grE6KWX3c8w#minimum-gain-chargeback", "label": "Limited Liability Company Agreement (BP Midstream Partners LP)", "score": 28.8329906464, "published": true}], "snippet": "Except as otherwise provided in Regulations Section 1.704-2(f), notwithstanding any other provision of this Article V, if there is a net decrease in Minimum Gain during any Allocation Year, each Member shall be specially allocated items of Company income and gain for such Allocation Year (and, if necessary, subsequent Allocation Years) in an amount equal to such Member\u2019s share of the net decrease in Minimum Gain, determined in accordance with Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Sections 1.704-2(f)(6) and 1.704-2(g)(2). This Section 5.3(a) is intended to comply with the minimum gain chargeback requirement in Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.", "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "provision-of", "type": "clause", "offset": [90, 102]}, {"key": "article-v", "type": "definition", "offset": [108, 117]}, {"key": "net-decrease", "type": "definition", "offset": [133, 145]}, {"key": "allocation-year", "type": "clause", "offset": [173, 188]}, {"key": "each-member", "type": "definition", "offset": [190, 201]}, {"key": "income-and-gain", "type": "clause", "offset": [248, 263]}, {"key": "subsequent-allocation", "type": "clause", "offset": [309, 330]}, {"key": "equal-to", "type": "definition", "offset": [351, 359]}, {"key": "the-net", "type": "clause", "offset": [383, 390]}, {"key": "in-accordance-with", "type": "definition", "offset": [428, 446]}, {"key": "pursuant-to-the", "type": "clause", "offset": [491, 506]}, {"key": "allocated-to", "type": "definition", "offset": [594, 606]}, {"key": "the-items", "type": "definition", "offset": [637, 646]}, {"key": "comply-with-the", "type": "clause", "offset": [794, 809]}], "size": 200, "hash": "3211ead391aa597da26e906587734c78", "id": 5}, {"samples": [{"hash": "jgZRgSLHLUJ", "uri": "/contracts/jgZRgSLHLUJ#minimum-gain-chargeback", "label": "Agreement of Sale and Purchase (Mack Cali Realty L P)", "score": 25.1560573578, "published": true}, {"hash": "iB7yizqU01Z", "uri": "/contracts/iB7yizqU01Z#minimum-gain-chargeback", "label": "Agreement of Sale and Purchase (Mack Cali Realty L P)", "score": 25.1560573578, "published": true}, {"hash": "cG0gpmyfJG", "uri": "/contracts/cG0gpmyfJG#minimum-gain-chargeback", "label": "Agreement of Sale and Purchase (Mack Cali Realty L P)", "score": 25.1560573578, "published": true}], "snippet": "Except as otherwise provided in Section 1.704-2(f) of the Regulations, in the event there is a net decrease in Company Minimum Gain during a Company taxable year, each Member shall be allocated (before any other allocation is made pursuant to this Section 8) items of income and gain for such year (and, if necessary, for subsequent years) equal to that Member\u2019s share of the net decrease in Company Minimum Gain.\n(i) The determination of a Member\u2019s share of the net decrease in Company Minimum Gain shall be determined in accordance with Regulation Section 1.704-2(g).\n(ii) The items to be specially allocated to the Members in accordance with this Section 8.2(a) shall be determined in accordance with Regulation Section 1.704-2(f)(6).\n(iii) This Section 8.2(a) is intended to comply with the Minimum Gain chargeback requirement set forth in Section 1.704-2(f) of the Regulations and shall be interpreted consistently therewith.", "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "the-regulations", "type": "clause", "offset": [54, 69]}, {"key": "in-the-event", "type": "clause", "offset": [71, 83]}, {"key": "net-decrease", "type": "definition", "offset": [95, 107]}, {"key": "company-minimum-gain", "type": "definition", "offset": [111, 131]}, {"key": "taxable-year", "type": "definition", "offset": [149, 161]}, {"key": "each-member", "type": "definition", "offset": [163, 174]}, {"key": "made-pursuant-to", "type": "clause", "offset": [226, 242]}, {"key": "income-and-gain", "type": "clause", "offset": [268, 283]}, {"key": "subsequent-years", "type": "clause", "offset": [322, 338]}, {"key": "equal-to", "type": "definition", "offset": [340, 348]}, {"key": "the-net", "type": "clause", "offset": [372, 379]}, {"key": "the-determination-of", "type": "definition", "offset": [418, 438]}, {"key": "a-member", "type": "definition", "offset": [439, 447]}, {"key": "in-accordance-with", "type": "definition", "offset": [520, 538]}, {"key": "the-items", "type": "definition", "offset": [575, 584]}, {"key": "to-the-members", "type": "clause", "offset": [611, 625]}, {"key": "comply-with-the", "type": "clause", "offset": [779, 794]}], "size": 155, "hash": "bb1562b3f098f83f5e74e10e3343f45e", "id": 7}, {"samples": [{"hash": "aJtIuWNEarX", "uri": "/contracts/aJtIuWNEarX#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Cantor Fitzgerald Income Trust, Inc.)", "score": 37.0164260864, "published": true}, {"hash": "2ypGI8ds3Jk", "uri": "/contracts/2ypGI8ds3Jk#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Cantor Fitzgerald Income Trust, Inc.)", "score": 31.6173858643, "published": true}, {"hash": "hT4KpNGQLTw", "uri": "/contracts/hT4KpNGQLTw#minimum-gain-chargeback", "label": "Limited Partnership Agreement (Rodin Income Trust, Inc.)", "score": 29.4490070343, "published": true}], "snippet": "Notwithstanding the provisions of Section 5.1 of the Agreement, if there is a net decrease in Partnership Minimum Gain during any Partnership Year, each Partner shall be specially allocated items of Partnership income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Partner\u2019s share of the net decrease in Partnership Minimum Gain, as determined under Regulations Section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Regulations Section 1.704-2(f)(6). This Section 5.1(c)(i) is intended to comply with the minimum gain chargeback requirements in Regulations Section 1.704-2(f) and shall be interpreted consistently therewith.", "snippet_links": [{"key": "section-51", "type": "clause", "offset": [34, 45]}, {"key": "the-agreement", "type": "clause", "offset": [49, 62]}, {"key": "decrease-in-partnership-minimum-gain", "type": "clause", "offset": [82, 118]}, {"key": "partnership-year", "type": "clause", "offset": [130, 146]}, {"key": "income-and-gain", "type": "clause", "offset": [211, 226]}, {"key": "subsequent-years", "type": "clause", "offset": [261, 277]}, {"key": "equal-to", "type": "definition", "offset": [292, 300]}, {"key": "the-net", "type": "clause", "offset": [325, 332]}, {"key": "pursuant-to-the", "type": "clause", "offset": [435, 450]}, {"key": "allocated-to", "type": "definition", "offset": [538, 550]}, {"key": "the-items", "type": "definition", "offset": [582, 591]}, {"key": "in-accordance-with", "type": "definition", "offset": [631, 649]}, {"key": "comply-with-the", "type": "clause", "offset": [723, 738]}], "size": 75, "hash": "e51c316200e6082a291b6b16d9840d76", "id": 10}, {"samples": [{"hash": "bOqwmnSq04p", "uri": "/contracts/bOqwmnSq04p#minimum-gain-chargeback", "label": "Parent Agreement (BGC Partners, Inc.)", "score": 29.4654350281, "published": true}, {"hash": "bLYcFKgqPff", "uri": "/contracts/bLYcFKgqPff#minimum-gain-chargeback", "label": "Partnership Agreement (BGC Partners, Inc.)", "score": 29.4654350281, "published": true}, {"hash": "8IPtcteFmJj", "uri": "/contracts/8IPtcteFmJj#minimum-gain-chargeback", "label": "Parent Agreement (Newmark Group, Inc.)", "score": 29.4654350281, "published": true}], "snippet": "Except as otherwise provided in Treasury Regulation section 1.704-2(f), notwithstanding any other provision of this Agreement, if there is a net decrease in Partnership Minimum Gain during any fiscal year, each Partner shall be specially allocated items of Partnership income and gain for such fiscal year (and, if necessary, subsequent fiscal years) in an amount equal to such Partner\u2019s share of the net decrease in Partnership Minimum Gain, determined in accordance with Treasury Regulation section 1.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Treasury Regulation sections 1.704-2(f)(6) and 1.704-2(j)(2). This provision is intended to comply with the minimum gain chargeback requirement in Treasury Regulation section 1.704-2(f) and shall be interpreted consistently therewith.", "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "treasury-regulation", "type": "definition", "offset": [32, 51]}, {"key": "other-provision-of-this-agreement", "type": "clause", "offset": [92, 125]}, {"key": "decrease-in-partnership-minimum-gain", "type": "clause", "offset": [145, 181]}, {"key": "income-and-gain", "type": "clause", "offset": [269, 284]}, {"key": "subsequent-fiscal-years", "type": "clause", "offset": [326, 349]}, {"key": "equal-to", "type": "definition", "offset": [364, 372]}, {"key": "the-net", "type": "clause", "offset": [397, 404]}, {"key": "in-accordance-with", "type": "definition", "offset": [454, 472]}, {"key": "pursuant-to-the", "type": "clause", "offset": [525, 540]}, {"key": "allocated-to", "type": "definition", "offset": [628, 640]}, {"key": "the-items", "type": "definition", "offset": [672, 681]}, {"key": "comply-with-the", "type": "clause", "offset": [832, 847]}], "size": 77, "hash": "7895de2e60f543f91c11bd18fe7cec6f", "id": 9}, {"samples": [{"hash": "28yxjqT5j99", "uri": "/contracts/28yxjqT5j99#minimum-gain-chargeback", "label": "Agreement of Limited Partnership (Alpine Income Property Trust, Inc.)", "score": 36.8576316833, "published": true}, {"hash": "9JUaBokibRx", "uri": "/contracts/9JUaBokibRx#minimum-gain-chargeback", "label": "Contribution and Subscription Agreement (Generation Income Properties, Inc.)", "score": 36.1101989746, "published": true}, {"hash": "eD7luTYIhvV", "uri": "/contracts/eD7luTYIhvV#minimum-gain-chargeback", "label": "Agreement of Limited Partnership (Bluerock Residential Growth REIT, Inc.)", "score": 33.7227935791, "published": true}], "snippet": "Notwithstanding any provision to the contrary, (i) any expense of the Partnership that is a \u201cnonrecourse deduction\u201d within the meaning of Regulations Section 1.704-2(b)(1) shall be allocated in accordance with the Partners\u2019 respective Percentage Interests, (ii) any expense of the Partnership that is a \u201cpartner nonrecourse deduction\u201d within the meaning of Regulations Section 1.704-2(i)(2) shall be allocated to the Partner that bears the \u201ceconomic risk of loss\u201d of such deduction in accordance with Regulations Section 1.704-2(i)(1), (iii) if there is a net decrease in Partnership Minimum Gain within the meaning of Regulations Section 1.704-2(f)(1) for any Partnership taxable year, then, subject to the exceptions set forth in Regulations Section 1.704-2(f)(2),(3), (4) and (5), items of gain and income shall be allocated among the Partners in accordance with Regulations Section 1.704-2(f) and the ordering rules contained in Regulations Section 1.704-2(j), and (iv) if there is a net decrease in Partner Nonrecourse Debt Minimum Gain within the meaning of Regulations Section 1.704-2(i)(4) for any Partnership taxable year, then, subject to the exceptions set forth in Regulations Section 1.704(2)(g), items of gain and income shall be allocated among the Partners in accordance with Regulations Section 1.704-2(i)(4) and the ordering rules contained in Regulations Section 1.704-2(j). The manner in which it is reasonably expected that the deductions attributable to nonrecourse liabilities will be allocated for purposes of determining a Partner\u2019s share of the nonrecourse liabilities of the Partnership within the meaning of Regulations Section 1.752-3(a)(3) shall be in accordance with a Partner\u2019s Percentage Interest.", "snippet_links": [{"key": "notwithstanding-any-provision", "type": "clause", "offset": [0, 29]}, {"key": "the-partnership", "type": "definition", "offset": [66, 81]}, {"key": "meaning-of", "type": "definition", "offset": [127, 137]}, {"key": "in-accordance-with", "type": "definition", "offset": [191, 209]}, {"key": "percentage-interests", "type": "definition", "offset": [235, 255]}, {"key": "partner-nonrecourse-deduction", "type": "definition", "offset": [304, 333]}, {"key": "allocated-to", "type": "definition", "offset": [400, 412]}, {"key": "economic-risk-of-loss", "type": "definition", "offset": [441, 462]}, {"key": "decrease-in-partnership-minimum-gain", "type": "clause", "offset": [560, 596]}, {"key": "taxable-year", "type": "definition", "offset": [673, 685]}, {"key": "subject-to-the", "type": "clause", "offset": [693, 707]}, {"key": "ordering-rules", "type": "clause", "offset": [905, 919]}, {"key": "contained-in", "type": "definition", "offset": [920, 932]}, {"key": "partner-nonrecourse-debt-minimum-gain", "type": "definition", "offset": [1004, 1041]}, {"key": "nonrecourse-liabilities", "type": "clause", "offset": [1476, 1499]}, {"key": "for-purposes-of", "type": "clause", "offset": [1518, 1533]}], "size": 180, "hash": "bfa99049a7da4049ad6fccddfb0100b3", "id": 6}, {"samples": [{"hash": "lkd23Pkphw5", "uri": "/contracts/lkd23Pkphw5#minimum-gain-chargeback", "label": "Limited Partnership Agreement (MPT of West Anaheim, LLC)", "score": 22.7604389191, "published": true}, {"hash": "kgyWSMXgiFW", "uri": "/contracts/kgyWSMXgiFW#minimum-gain-chargeback", "label": "Limited Partnership Agreement (MPT of West Anaheim, LLC)", "score": 22.7604389191, "published": true}, {"hash": "gzhYroAKo9c", "uri": "/contracts/gzhYroAKo9c#minimum-gain-chargeback", "label": "Limited Partnership Agreement (MPT of West Anaheim, LLC)", "score": 22.7604389191, "published": true}], "snippet": "Except as otherwise provided in Regulation \u00a71.704-2(f), notwithstanding any other provision of this Section, if there is a net decrease in minimum gain (as defined in Regulation \u00a71.704-2(b)(2)) during any Year, each Partner shall be specially allocated items of income and gain of the Partnership for such Year (and, if necessary, subsequent Years) in an amount equal to such Partner\u2019s share of the net decrease in minimum gain, determined in accordance with Regulation \u00a71.704-2(g). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Partner pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation \u00a71.704-2(f)(6) and Regulation \u00a71.704-2(j)(2). This Section 4.01(c)(i) is intended to comply with the minimum gain chargeback requirement in Regulation \u00a71.704-2(f) and shall be interpreted consistently therewith.", "snippet_links": [{"key": "except-as-otherwise-provided", "type": "clause", "offset": [0, 28]}, {"key": "provision-of", "type": "clause", "offset": [82, 94]}, {"key": "net-decrease", "type": "definition", "offset": [123, 135]}, {"key": "income-and-gain", "type": "clause", "offset": [262, 277]}, {"key": "the-partnership", "type": "definition", "offset": [281, 296]}, {"key": "subsequent-years", "type": "clause", "offset": [331, 347]}, {"key": "equal-to", "type": "definition", "offset": [362, 370]}, {"key": "the-net", "type": "clause", "offset": [395, 402]}, {"key": "in-accordance-with", "type": "definition", "offset": [440, 458]}, {"key": "pursuant-to-the", "type": "clause", "offset": [495, 510]}, {"key": "allocated-to", "type": "definition", "offset": [598, 610]}, {"key": "the-items", "type": "definition", "offset": [642, 651]}, {"key": "comply-with-the", "type": "clause", "offset": [806, 821]}], "size": 89, "hash": "4dbc0ddde9a5866c607ed6fb61c0c462", "id": 8}], "next_curs": "CmASWmoVc35sYXdpbnNpZGVyY29udHJhY3RzcjwLEhZDbGF1c2VTbmlwcGV0R3JvdXBfdjU2IiBtaW5pbXVtLWdhaW4tY2hhcmdlYmFjayMwMDAwMDAwYQyiAQJlbhgAIAA=", "clause": {"children": [["member-minimum-gain-chargeback", "Member Minimum Gain Chargeback"], ["qualified-income-offset", "Qualified Income Offset"], ["nonrecourse-deductions", "Nonrecourse Deductions"], ["gross-income-allocation", "Gross Income Allocation"], ["partner-minimum-gain-chargeback", "Partner Minimum Gain Chargeback"]], "title": "Minimum Gain Chargeback", "size": 4033, "parents": [["special-allocations", "Special Allocations"], ["allocations", "Allocations"], ["regulatory-allocations", "Regulatory Allocations"], ["allocation-of-profit-and-loss", "Allocation of Profit and Loss"], ["additional-allocation-provisions", "Additional Allocation Provisions"]], "id": "minimum-gain-chargeback", "related": [["member-minimum-gain-chargeback", "Member Minimum Gain Chargeback", "Member <strong>Minimum Gain Chargeback</strong>"], ["company-minimum-gain-chargeback", "Company Minimum Gain Chargeback", "Company <strong>Minimum Gain Chargeback</strong>"], ["partner-minimum-gain-chargeback", "Partner Minimum Gain Chargeback", "Partner <strong>Minimum Gain Chargeback</strong>"], ["partnership-minimum-gain-chargeback", "Partnership Minimum Gain Chargeback", "Partnership <strong>Minimum Gain Chargeback</strong>"], ["member-nonrecourse-debt-minimum-gain-chargeback", "Member Nonrecourse Debt Minimum Gain Chargeback", "Member Nonrecourse Debt <strong>Minimum Gain Chargeback</strong>"]], "related_snippets": [], "updated": "2026-05-17T04:23:05+00:00", "also_ask": ["What are the essential elements to include in a Minimum Gain Chargeback clause to ensure enforceability?", "How can parties strategically negotiate the scope and timing of chargebacks to protect their interests?", "What are the most common risks or pitfalls in drafting Minimum Gain Chargeback provisions?", "How do Minimum Gain Chargeback requirements differ across various partnership or LLC structures?", "What legal standards do courts apply when interpreting and enforcing Minimum Gain Chargeback clauses?"], "drafting_tip": "Specify the minimum gain threshold, outline the chargeback calculation method, and define triggering events to ensure clarity, prevent disputes, and facilitate enforceability.", "explanation": "A Minimum Gain Chargeback clause requires that certain partners or members in a partnership or LLC are allocated income or gain to offset previous tax benefits they received, such as deductions or losses. In practice, if a partner has previously benefited from nonrecourse deductions, this clause ensures that when the partnership recognizes income or gain, that partner is allocated enough of it to \"charge back\" those prior benefits. This mechanism is designed to comply with IRS regulations and maintain the proper balance of tax allocations, preventing partners from receiving tax advantages without corresponding income recognition."}, "json": true, "cursor": ""}}