Common use of Minimum Gain Clause in Contracts

Minimum Gain. Notwithstanding the allocation provided in Section ------------ 4.5 and except as otherwise provided in this Section 4.6, if there is a net decrease in LLC Minimum Gain during any fiscal year, each Member with a deficit Capital Account balance at the end of such fiscal year (decreased by the amount such Member is obligated to restore and the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations 1.704-2(g)(1) and 1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulations (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 and, if necessary, for subsequent fiscal years, in an amount equal to such Member's share of the net decrease in such LLC Minimum Gain, determined in accordance with Treasury Regulations (S)1.704-2(g)(2). This provision is intended to satisfy the definition of a "minimum gain chargeback" as defined in Treasury Regulations (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).

Minimum Gain. Notwithstanding the allocation provided in Section ------------ 4.5 and except as otherwise provided in this Section 4.6, if there is a net decrease in LLC Minimum Gain during any fiscal year, each Member with a deficit Capital Account balance at the end of such fiscal year (decreased by the amount such Member is obligated to restore and the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations 1.704-2(g)(1) and 1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulations (S)1.704Section 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 Member's share of the net decrease in such LLC Minimum Gain, determined in accordance with Treasury Regulations (S)1.704l.704-2(g)(2). This provision is intended to satisfy the definition of a "'minimum gain chargeback" as defined in Treasury Regulations (S)1.704l.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 allocation provided in Section ------------ 4.5 and except as otherwise provided in this Section 4.6, if there is a net decrease in LLC Minimum Gain during any fiscal year, each Member with a deficit Capital Account balance at the end of such fiscal year (decreased by the amount such Member is obligated to restore and the amount such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations 1.704-2(g)(1) and 1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulations (S)1.7041.704-1(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 Member's share of the net decrease in such LLC Minimum Gain, determined in accordance with Treasury Regulations (S)1.7041.704-2(g)(2). This provision is intended to satisfy the definition of a "minimum gain chargeback" as defined in Treasury Regulations (S)1.704-2(f1.7042(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 allocation allocations provided in Section ------------ 4.5 4.1(a) and except as otherwise provided in this Section 4.64.1(b), if there is a net decrease in LLC “Company Minimum Gain Gain” (to have the same meaning as “partnership minimum gain” as defined in Treasury Regulation §1.704-2(d)) during any fiscal yearFiscal Year, each Member with a deficit negative Capital Account balance at the end of such fiscal year Fiscal Year (decreased by the amount amount, if any, of such negative Capital Account such Member is obligated to restore pursuant to the terms of this Agreement and the amount of such negative Capital Account such Member is deemed to be obligated to restore pursuant to the penultimate sentences of Treasury Regulations Regulation §1.704-2(g)(12(g)(l) and §1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulations (S)1.704Regulation §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 Member's ’s share of the net decrease in such LLC Company Minimum Gain, determined in accordance with Treasury Regulations (S)1.704-2(g)(2Regulation §1.704-(2)(g)(2). This provision is intended to satisfy the definition of a "“minimum gain chargeback" ” as defined in Treasury Regulations (S)1.704Regulation §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).