Nonrecourse Minimum Gain definition

Nonrecourse Minimum Gain of the Partnership shall mean the amount of “minimum gain” of the Partnership that is attributable to Nonrecourse Liabilities (as determined strictly in accordance with sections 1.704-2(d) and 1.704-2(k) of the Regulations).
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Nonrecourse Minimum Gain means the amount determined as follows: (a) first, compute, with respect to each Nonrecourse Liability, the amount of Book Gain or Gross Income that would be realized by Palace if Palace disposed of (in a taxable transaction) Palace property subject to such debt in full satisfaction of such debt (and for no other consideration); and (b) then, add together the amounts so computed for all Nonrecourse Liabilities. The resulting sum is the "Nonrecourse Minimum Gain". Where any Palace property is subject to multiple secured liabilities of unequal priority, the property's Book Basis shall be allocated among the liabilities in order of priority from most senior first to least senior last. Where two or more secured liabilities are of equal priority, Book Basis shall be allocated among the liabilities in accordance with the outstanding balances of such liabilities. For purpose of determining the net increase or decrease in Nonrecourse Minimum Gain during any Fiscal Year in which the Members' Capital Accounts are increased pursuant to section 1.704-1(b)(2)(iv)(f) or (r) of the Regulations to reflect a revaluation of Palace property subject to one or more Nonrecourse Liabilities, any decrease in Nonrecourse Minimum Gain attributable to this revaluation shall be added back to the net decrease or increase otherwise determined. A Member's share of such "Nonrecourse Minimum Gain" shall be calculated in accordance with the provisions of section 1.704-2(g) of the Regulations.
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Nonrecourse Minimum Gain of the Company shall mean the amount of "minimum gain" of the Company that is attributable to Nonrecourse Liabilities (as determined strictly in accordance with Section 1.704-2(d) of the Regulations). A Member's share of such "Nonrecourse Minimum Gain" shall be calculated in accordance with the provisions of Section 1.704-2(g) of the Regulations.
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Examples of Nonrecourse Minimum Gain in a sentence

  • In the event there is a net decrease in Partner Nonrecourse Minimum Gain during any Fiscal Year, the “partner minimum gain chargeback” described in Regulations Section 1.704-2(i)(4) shall apply.

  • Section 1.704-2(b)(2)) or Member Nonrecourse Minimum Gain (within the meaning of Treas.

  • Notwithstanding the foregoing, Regulatory Allocations relating to Nonrecourse Debt shall not be taken into account except to the extent that there has been a reduction in Partnership (Company) Minimum Gain or a reduction in Partner (Member) Nonrecourse Minimum Gain attributable to Partner (Member) Nonrecourse Debt.

  • Section 1.704-2(b)(2)) or Partner Nonrecourse Minimum Gain (within the meaning of Treas.

  • Section 1.704-2(b)(2)), and Partner Nonrecourse Minimum Gain (within the meaning of Treas.

  • If during any Fiscal Year there is a net decrease in either Company Minimum Gain or Member Nonrecourse Minimum Gain, then, notwithstanding any other provision of this Exhibit B, each Member shall receive such special allocation of items of Company income and gain as are required in order to conform to Treasury Regulation Section 1.704-2.

  • The Architectural Plan depicts a sprinkler room on the southeast side of Building 1, which is not shown on the Site Plan.

  • In exercising its discretion under this Section, the Board shall take into account future Regulatory Allocations under Sections 5.3.1 and 5.3.2 that, although not yet made, are likely to offset other Regulatory Allocations previously made under Sections 5.3.5 and 5.3.6 and/or distributions of the Company which are included in a Member’s share of the Company’s Minimum Gain or Member Nonrecourse Minimum Gain.

  • Section l.704-2(b)(2)), and Member Nonrecourse Minimum Gain (within the meaning of Treas.

  • For purposes of determining a Partner’s Capital Account balance (and the amount it is required to restore) in applying the provisions of this paragraph (h), the anticipated adjustments, allocations and distributions described in Treasury Regulation § 1.704-1(b) (2) (ii) (d)(4), (5) and (6) shall be taken into account, and each Partner shall be deemed obligated to restore its deficit Capital Account balance to the extent of its share of Partnership Minimum Gain and Partner Nonrecourse Minimum Gain, if any.


More Definitions of Nonrecourse Minimum Gain

Nonrecourse Minimum Gain of the Partnership shall mean the amount of "minimum gain" of the Partnership that is attributable to Nonrecourse Liabilities (as determined under section 1.704-2(b)(2) of the Regulations). A Partner's share of such "NONRECOURSE MINIMUM GAIN" shall be calculated in accordance with the provisions of section 1.704-2(g) of the Regulations.
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Related to Nonrecourse Minimum Gain

  • Member Nonrecourse Debt Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if such Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Partner Nonrecourse Debt Minimum Gain has the meaning set forth in Treasury Regulation Section 1.704-2(i)(2).

  • Minimum Gain means “partnership minimum gain” determined pursuant to Treasury Regulation Section 1.704-2(d).

  • Member Minimum Gain means an amount, with respect to each Member Nonrecourse Debt, equal to the Company Minimum Gain that would result if such Member Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Partnership Minimum Gain has the meaning set forth in Regulations Section 1.704-2(b)(2), and the amount of Partnership Minimum Gain, as well as any net increase or decrease in Partnership Minimum Gain, for a Partnership Year shall be determined in accordance with the rules of Regulations Section 1.704-2(d).

  • Partner Minimum Gain means an amount, with respect to each Partner Nonrecourse Debt, equal to the Partnership Minimum Gain that would result if such Partner Nonrecourse Debt were treated as a Nonrecourse Liability, determined in accordance with Regulations Section 1.704-2(i)(3).

  • Company Minimum Gain has the meaning given the term “partnership minimum gain” in Sections 1.704-2(b)(2) and 1.704-2(d) of the Regulations.

  • Nonrecourse Debt means any Company liability to the extent that no Member or related Person bears the economic risk of loss for such liability under Section 1.752-2 of the Treasury Regulations.

  • Nonrecourse Built-in Gain means with respect to any Contributed Properties or Adjusted Properties that are subject to a mortgage or pledge securing a Nonrecourse Liability, the amount of any taxable gain that would be allocated to the Partners pursuant to Section 6.2(b) if such properties were disposed of in a taxable transaction in full satisfaction of such liabilities and for no other consideration.

  • Nonrecourse Liability has the meaning set forth in Regulations Section 1.752-1(a)(2).

  • Member Nonrecourse Debt has the meaning of “partner nonrecourse debt” set forth in Treasury Regulations Section 1.704-2(b)(4).

  • Partner Nonrecourse Debt has the meaning set forth in Treasury Regulation Section 1.704-2(b)(4).

  • Nonrecourse Deduction shall have the meaning given such term in Regulations Section 1.704-2(b)(1).

  • Nonrecourse Liabilities has the meaning set forth in Section 1.704-2(b)(3) of the Regulations.

  • Member Nonrecourse Deduction means “partner nonrecourse deduction” as defined in Treasury Regulations Section 1.704-2(i), substituting the term “Member” for the term “partner” as the context requires.

  • Member Nonrecourse Deductions has the meaning of “partner nonrecourse deductions” set forth in Treasury Regulations Sections 1.704-2(i)(1) and 1.704-2(i)(2).

  • Nonrecourse Deductions has the meaning set forth in Section 1.704-2(b)(1) of the Regulations.

  • Partner Nonrecourse Deductions means any and all items of loss, deduction or expenditure (including any expenditure described in Section 705(a)(2)(B) of the Code) that, in accordance with the principles of Treasury Regulation Section 1.704-2(i), are attributable to a Partner Nonrecourse Debt.

  • Partnership Year means the fiscal year of the Partnership, which shall be the calendar year.

  • Nonrecourse Obligation means indebtedness or other obligations substantially related to (i) the acquisition of assets not previously owned by the Company or any Restricted Subsidiary or (ii) the financing of a project involving the development or expansion of properties of the Company or any Restricted Subsidiary, as to which the obligee with respect to such indebtedness or obligation has no recourse to the Company or any Restricted Subsidiary or any assets of the Company or any Restricted Subsidiary other than the assets which were acquired with the proceeds of such transaction or the project financed with the proceeds of such transaction (and the proceeds thereof).

  • Nonrecourse Indebtedness means, with respect to a Person, Indebtedness for borrowed money in respect of which recourse for payment (except for customary exceptions for fraud, misapplication of funds, environmental indemnities, voluntary bankruptcy, collusive involuntary bankruptcy and other similar customary exceptions to nonrecourse liability) is contractually limited to specific assets of such Person encumbered by a Lien securing such Indebtedness.

  • Recourse Debt means Indebtedness that is not Non-Recourse Indebtedness.

  • Net Income or Net Loss means, for each Fiscal Year or other applicable period, an amount equal to the Partnership’s taxable income or loss for such year or period, as determined for federal income tax purposes, determined by the Accountants in accordance with Section 703(a) of the Code (for this purpose, all items of income, gain, loss or deduction required to be stated separately pursuant to Section 703(a) of the Code shall be included in taxable income or loss), with the following adjustments:

  • Adjusted Capital Account Deficit means, with respect to any Member, the deficit balance, if any, in such Member’s Capital Account as of the end of the relevant Fiscal Year, after giving effect to the following adjustments:

  • Consolidated Net Loss for any fiscal period, means the amount which, in conformity with GAAP, would be set forth opposite the caption "net income" (or any like caption), as the case may be, on a consolidated statement of earnings of the Borrower and its Subsidiaries, if any, for such fiscal period.