Common use of Member Minimum Gain Chargeback Clause in Contracts

Member Minimum Gain Chargeback. If there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in accordance with Regulation Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section 1.704-2(i)(4). This Section B.3(c) is intended to comply with the minimum gain chargeback requirement in Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith.

Appears in 5 contracts

Sources: Operating Agreement (Bequest Bonds I Inc), Operating Agreement (Bequest Bonds I Inc), Operating Agreement (Bequest Bonds I Inc)

Member Minimum Gain Chargeback. If Except as otherwise provided in section 1.704-2(i)(4) of the Regulations, notwithstanding any other provision of this Article XIII, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearFiscal Year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Section section 1.704-2(i)(5)) of the Regulations, shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to the portion of such Member’s share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Section section 1.704-2(i)(4)) of the Regulations. Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items item to be so allocated shall be determined in accordance with Regulation Section section 1.704-2(i)(4)) and 1.704-2(j)(2) of the Regulations. This Section B.3(c) 13.7 is intended to comply with the minimum gain chargeback requirement in Regulation Section section 1.704-2(i)(4) of the Regulations and shall be interpreted consistently therewith.

Appears in 3 contracts

Sources: Operating Agreement, Operating Agreement (Castle Arch Real Estate Investment Company, LLC), Operating Agreement (Castle Arch Real Estate Investment Company, LLC)

Member Minimum Gain Chargeback. If Except as otherwise provided in Regulations Section 1.704-2(i)(4) or in Section 6.3.A(1) hereof, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearFiscal Year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Member's share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section 1.704-2(i)(4). This Section B.3(c) is intended to comply with the minimum gain chargeback requirement in Regulation Section Regulations Sections 1.704-2(i)(4) and shall be interpreted consistently therewith.1.704-2(j)(2). This Section

Appears in 3 contracts

Sources: Limited Liability Company Agreement (Health Care Property Investors Inc), Limited Liability Company Agreement (Pan Pacific Retail Properties Inc), Limited Liability Company Agreement (Health Care Property Investors Inc)

Member Minimum Gain Chargeback. If Except as otherwise provided in Regulations Section 1.704-2(i)(4) or in Section 6.3.A(1) hereof, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearFiscal Year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Member's share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section Regulations Sections 1.704- 2(i)(4) and 1.704-2(i)(42(j)(2). This Section B.3(c) is intended to comply with the minimum gain chargeback requirement in Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith.6.3.A

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Inland Real Estate Corp), Limited Liability Company Agreement (Inland Real Estate Corp)

Member Minimum Gain Chargeback. If Notwithstanding the provisions of Article 6 of this Agreement or any other provisions of this Exhibit B (except Section 5.A hereof), if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearYear, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Member's share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(42(i)(5). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Regulations Section 1.704-2(i)(4). This Section B.3(c) 5.B is intended to comply with the minimum gain chargeback requirement in Regulation Regulations Section 1.704-1.704 - 2(i)(4) and shall be interpreted consistently therewith.

Appears in 2 contracts

Sources: Limited Liability Company Agreement (Chelsea Gca Realty Inc), Limited Liability Company Agreement (Chelsea Gca Realty Partnership Lp)

Member Minimum Gain Chargeback. If there is a net decrease in the Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearFiscal Year, each any Member who has a share of the such Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, (as determined in accordance with under Treasury Regulation Section 1.704-2(i)(5), ) shall be specially allocated items of Company income and or gain for such year (and, if necessary, subsequent yearsFiscal Years) equal to such Member’s share of the net decrease in accordance with the Member Nonrecourse Debt Minimum Gain in the manner and to the extent required by Treasury Regulation Section 1.704-2(i)(4). Allocations pursuant to the previous sentence Such allocations shall be made in proportion to the respective amounts required to be allocated to each Member pursuant theretothereunder. The items to be so allocated Such allocations shall be determined made in accordance with a manner and at a time which will satisfy the requirements of Treasury Regulation Section Sections 1.704-2(i)(4). This Section B.3(c2(i) is intended to comply with the minimum gain chargeback requirement in Regulation Section and 1.704-2(i)(42(j) and shall be interpreted consistently therewith.

Appears in 1 contract

Sources: Limited Liability Company Agreement (Chardan 2008 China Acquisition Corp.)

Member Minimum Gain Chargeback. If Except as otherwise provided in Section 1.704-2(i)(4) of the Regulations, and notwithstanding any other provision of this Section 7.2, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable fiscal year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Section 1.704-2(i)(5)2(i) (5) of the Regulations, shall be specially allocated items of Company income and gain for such fiscal year (and, if necessary, subsequent fiscal years) in an amount equal to such Member's share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section Sections 1.704-2(i)(4). This Section B.3(c2(i) is intended to comply with the minimum gain chargeback requirement in Regulation Section (4) and 1.704-2(i)(42(j)(2) and shall be interpreted consistently therewith.of the Regulations. This

Appears in 1 contract

Sources: Limited Liability Company Agreement (Energy Conversion Devices Inc)

Member Minimum Gain Chargeback. If Except as otherwise provided in Section 1.704-2(i)(4) of the Regulations, notwithstanding any other provision of this Section 7, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearAllocation Year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Section 1.704-2(i)(5)) of the Regulations, shall be specially allocated items of Company income and gain for such year Allocation Year (and, if necessary, subsequent yearsAllocation Years) in an amount equal to such Member's share of the net decrease in Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts amount required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section 1.704-2(i)(4). This Section B.3(c) is intended to comply with the minimum gain chargeback requirement in Regulation Section Sections 1.704-2(i)(4) and shall be interpreted consistently therewith.of the Regulations. This Section 7.02

Appears in 1 contract

Sources: Limited Liability Company Agreement (Titan Corp)

Member Minimum Gain Chargeback. If there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Section 1.704-2(i)(5), shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in accordance with Regulation Section 1.704-2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section 1.704-2(i)(4)) . This Section B.3(c) is intended to comply with the minimum gain chargeback requirement in Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith.

Appears in 1 contract

Sources: Operating Agreement (Bequest Bonds I Inc)

Member Minimum Gain Chargeback. If Except as otherwise provided in Regulations Section 1.704-2(i)(4) or in Section 6.3.A(1) hereof, if there is a net decrease in Member Nonrecourse Debt Minimum Gain attributable to a Member Nonrecourse Debt during any Company taxable yearFiscal Year, each Member who has a share of the Member Nonrecourse Debt Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-1.704- 2(i)(5), shall be specially allocated items of Company income and gain for such year (and, if necessary, subsequent years) in an amount equal to such Member's share of the net decrease in Member Minimum Gain attributable to such Member Nonrecourse Debt, determined in accordance with Regulation Regulations Section 1.704-1.704- 2(i)(4). Allocations pursuant to the previous sentence shall be made in proportion to the respective amounts required to be allocated to each Member pursuant thereto. The items to be so allocated shall be determined in accordance with Regulation Section 1.704-2(i)(4). This Section B.3(c) is intended to comply with the minimum gain chargeback requirement in Regulation Section Regulations Sections 1.704-2(i)(4) and shall be interpreted consistently therewith.1.704-2(j)(2). This Section

Appears in 1 contract

Sources: Limited Liability Company Agreement (Health Care Property Investors Inc)