Common use of Waiver of Minimum Gain Chargeback Provisions Clause in Contracts

Waiver of Minimum Gain Chargeback Provisions. If LHMI determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI determines the Board of Directors determine that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI the Board of Directors shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI The Board of Directors shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI HHBF determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI HHBF shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI HHBF shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI MHMI determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI MHMI shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI MHMI shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI DTO Management determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI DTO Management shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI DTO Management shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI AHH Management determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit Schedule would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI AHH Management shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI AHH Management shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI determines the Board of Directors determine that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI Board of Directors shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI The Board of Directors shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI the Manager determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company LLC will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI the Manager shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company LLC the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Treasury Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company LLC shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI The Manager shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI DCHMI determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI DCHMI shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' ’ fees) incurred to apply for the waiver. LHMI DCHMI shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI the Board of Directors determines in good faith that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI the Board of Directors shall have the authority, but not the obligation, after giving notice to the other Members, to request on behalf of the Company that the Internal Revenue Service to waive the minimum gain chargeback or member partner nonrecourse debt minimum gain chargeback requirements pursuant to Treasury Regulations Sections §§ 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI The Board of Directors shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI determines the Managers determine that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company LLC will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI the Managers shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company LLC the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Treasury Regulations Sections xx.xx. 1.704-2(f)(4) and 1.704-2(i)(4). The Company LLC shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI The Manager shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI the Board determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company LLC will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI the Board shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company LLC the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Treasury Regulations Sections §§ 1.704-2(f)(4) and 1.704-2(i)(4). The Company LLC shall pay the expenses (including attorneys' ’ fees) incurred to apply for the waiver. LHMI The Board shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI the General Member determines in good faith that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI a Majority in Interest of the Members shall have the authority, but not the obligation, after giving notice to the other Members, to request on behalf of the Company that the Internal Revenue Service to waive the minimum gain chargeback or member partner nonrecourse debt minimum gain chargeback requirements pursuant to Treasury Regulations Sections §§ 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI The General Member shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.

Waiver of Minimum Gain Chargeback Provisions. If LHMI MedCath determines that (i) either of the two minimum gain chargeback provisions contained in this Exhibit would cause a distortion in the economic arrangement among the Members, (ii) it is not expected that the Company will have sufficient other items of income and gain to correct that distortion, and (iii) the Members have made Capital Contributions or received net income allocations that have restored any previous Nonrecourse Deductions or Member Nonrecourse Deductions, then LHMI MedCath shall have the authority, but not the obligation, after giving notice to the Members, to request on behalf of the Company the Internal Revenue Service to waive the minimum gain chargeback or member nonrecourse debt minimum gain chargeback requirements pursuant to Regulations Sections 1.704-2(f)(4) and 1.704-2(i)(4). The Company shall pay the expenses (including attorneys' fees) incurred to apply for the waiver. LHMI MedCath shall promptly copy all Members on all correspondence to and from the Internal Revenue Service concerning the requested waiver.