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 “Company Minimum Gain” (to have the same meaning as “partnership minimum gain” as defined in Treasury Regulation §1.704-2(d)) during any Fiscal Year, each Member 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 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 Regulation §1.704-2(g)(l) and §1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation §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 Company Minimum Gain, determined in accordance with Treasury Regulation §1.704-(2)(g)(2). This provision is intended to satisfy the definition of a “minimum gain chargeback” as defined in Treasury Regulation §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 “Company LLC Minimum Gain” (to have the same meaning as “partnership minimum gain” as defined in Treasury Regulation §1.704-2(d)) Gain during any Fiscal Yearfiscal year, each Member with a negative deficit Capital Account balance at the end of such Fiscal Year fiscal year (decreased by the amount, if any, of such negative Capital Account amount 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 Regulation §Regulations 1.704-2(g)(l2(g)(1) and §1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation §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 Member’s 's share of the net decrease in such Company LLC Minimum Gain, determined in accordance with Treasury Regulation §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 §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).

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 “Company LLC Minimum Gain” (to have the same meaning as “partnership minimum gain” as defined in Treasury Regulation §1.704-2(d)) Gain during any Fiscal Yearfiscal year, each Member with a negative deficit Capital Account balance at the end of such Fiscal Year fiscal year (decreased by the amount, if any, of such negative Capital Account amount 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 Regulation §Regulations 1.704-2(g)(l2(g)(1) and §1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation §Regulations 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 Company LLC Minimum Gain, determined in accordance with Treasury Regulation §1.704-(2)(g)(2Regulations 1.704-2(g)(2). This provision is intended to satisfy the definition of a “"minimum gain chargeback” " as defined in Treasury Regulations 1.7042(f), and the term "LLC Minimum Gain" shall have the meaning ascribed to the term "Partnership Minimum Gain" in Treasury Regulation §1.704-2(f2(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 “Company LLC Minimum Gain” (to have the same meaning as “partnership minimum gain” as defined in Treasury Regulation §1.704-2(d)) Gain during any Fiscal Yearfiscal year, each Member with a negative deficit Capital Account balance at the end of such Fiscal Year fiscal year (decreased by the amount, if any, of such negative Capital Account amount 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 Regulation §Regulations 1.704-2(g)(l2(g)(1) and §1.704-(2)(i)(5), and increased by the items set forth in Treasury Regulation §Regulations 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 Member’s 's share of the net decrease in such Company LLC Minimum Gain, determined in accordance with Treasury Regulation §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 §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).