Minimum Gain Charge Back. Notwithstanding any other provision of this Section 5, if there is a net decrease in Trust Minimum Gain or in any Beneficiary Nonrecourse Debt Minimum Gain during any fiscal period, prior to any other allocation pursuant this Section 5, each Beneficiary shall be specifically allocated items of Trust income and gain for such fiscal period (and, if necessary, subsequent fiscal periods) in an amount and manner required by Treas. Reg. Sections 1.704-2(f) and 1.704-2(i)(4) or any successor provisions. The items to be so allocated shall be determined in accordance with Treas. Reg. Section 1.704-2(j)(2) or any successor provision.
Appears in 3 contracts
Sources: Liquidating Trust Agreement (ICON ECI Fund Sixteen), Liquidating Trust Agreement (ICON Equipment & Corporate Infrastructure Fund Fourteen, L.P.), Liquidating Trust Agreement (Icon Eci Fund Fifteen, L.P.)