Common use of Minimum Gain Clause in Contracts

Minimum Gain. Notwithstanding the allocations provided in Section 4.1(a) and except as otherwise provided in this Section 4.1(b), if there is a net decrease in "Partnership Minimum Gain" (as defined in Treasury Regulation ss.1.704-2(d)) during any Fiscal Year, each Partner with a negative Capital Account balance at the end of such Fiscal Year (decreased by the amount, if any, of such negative Capital Account such Partner is obligated to restore pursuant to the terms of this Agreement and the amount of such negative Capital Account such Partner is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulation ss.1.704-2(g)(1) and ss.1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation ss.1.704-1(b)(2)(ii)(d)(4), (5) or (6)) shall be allocated items of gross income and gain for such Fiscal Year and, if necessary, for subsequent Fiscal Years, in an amount equal to such Partner's share of the net decrease in such Partnership Minimum Gain, determined in CONFIDENTIAL TREATMENT REQUESTED BY CIT GROUP INC. accordance with Treasury Regulation ss.1.704-(2)(g)(2). This provision is intended to satisfy the definition of a "minimum gain chargeback" as defined in Treasury Regulation ss.1.704-2(f).

Minimum Gain. Notwithstanding the allocations allocation provided in Section 4.1(a) 4.5 and except as otherwise provided in this Section 4.1(b)4.6, if there is a net decrease in "Partnership LLC Minimum Gain" (as defined in Treasury Regulation ss.1.704-2(d)) Gain during any Fiscal Yearfiscal year, each Partner Member with a negative deficit Capital Account balance at the end of such Fiscal Year fiscal year (decreased by the amount, if any, of amount such negative Capital Account such Partner Member is obligated to restore pursuant to the terms of this Agreement and the amount of such negative Capital Account such Partner Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulation ss.1.704Regulations 1.704-2(g)(1) and ss.1.704-(2)(i)(51.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation ss.1.704Regulations Section 1.704-1(b)(2)(ii)(d)(4), (5) or (6)) shall be allocated items of gross income and gain for such Fiscal Year fiscal year and, if necessary, for subsequent Fiscal Yearsfiscal years, in an amount equal to such PartnerMember's share of the net decrease in such Partnership LLC Minimum Gain, determined in CONFIDENTIAL TREATMENT REQUESTED BY CIT GROUP INC. accordance with Treasury Regulation ss.1.704-(2)(g)(2Regulations l.704-2(g)(2). This provision is intended to satisfy the definition of a "'minimum gain chargeback" as defined in Treasury Regulation ss.1.704Regulations l.704-2(f), and the term "LLC Minimum Gain" shall have the meaning ascribed to the term "Partnership Minimum Gain" in Treasury Regulation 1.704-2(d).

Minimum Gain. Notwithstanding the allocations allocation provided in Section 4.1(a) ------------ 4.5 and except as otherwise provided in this Section 4.1(b)4.6, if there is a net decrease in "Partnership LLC Minimum Gain" (as defined in Treasury Regulation ss.1.704-2(d)) Gain during any Fiscal Yearfiscal year, each Partner Member with a negative deficit Capital Account balance at the end of such Fiscal Year fiscal year (decreased by the amount, if any, of amount such negative Capital Account such Partner Member is obligated to restore pursuant to the terms of this Agreement and the amount of such negative Capital Account such Partner Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulation ss.1.704Regulations 1.704-2(g)(1) and ss.1.704-(2)(i)(51.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation ss.1.704Regulations (S)1.704-1(b)(2)(ii)(d)(4), (5) or (6)) shall be allocated items of gross income and gain for such Fiscal Year fiscal year and, if necessary, for subsequent Fiscal Yearsfiscal years, in an amount equal to such PartnerMember's share of the net decrease in such Partnership LLC Minimum Gain, determined in CONFIDENTIAL TREATMENT REQUESTED BY CIT GROUP INC. accordance with Treasury Regulation ss.1.704-(2)(g)(2Regulations (S)1.704-2(g)(2). This provision is intended to satisfy the definition of a "minimum gain chargeback" as defined in Treasury Regulation ss.1.704Regulations (S)1.704-2(f), and the term "LLC Minimum Gain" shall have the meaning ascribed to the term "Partnership Minimum Gain" in Treasury Regulation 1.704-2(d).