Common use of Partner Nonrecourse Debt Minimum Gain Chargeback Clause in Contracts

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), anything to the contrary in this Section notwithstanding, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable year, then, in addition to the amounts, if any, allocated pursuant to paragraph 4.2(a), any Member with a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year shall be allocated items of Company income and gain for that taxable year (and, if necessary, for subsequent taxable years) equal to that Member’s share of the net decrease in the Partner Nonrecourse Debt Minimum Gain, determined in accordance with Treasury Regulations Section 1.704-2(i)(4). This Section A.4.2(b) is intended to comply with the chargeback of partner nonrecourse debt minimum gain required by Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are met.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), anything to the contrary in this Section A.4 notwithstanding, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable yearyear or other allocation period, then, in addition to the amounts, if any, allocated pursuant to paragraph 4.2(a), any Member Partner with a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year allocation period shall be allocated items of Company Partnership income and gain for that taxable year allocation period (and, if necessary, for subsequent taxable yearsallocation periods) equal to that MemberPartner’s share of the net decrease in the Partner Nonrecourse Debt Minimum GainGain during such allocation period, determined in accordance with Treasury Regulations Section 1.704-2(i)(4). This Section A.4.2(b) is intended to comply with the chargeback of partner nonrecourse debt minimum gain required by Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are met.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), anything to the contrary in this Section notwithstanding, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable year, then, in addition to the amounts, if any, allocated pursuant to paragraph 4.2(a), any Member with a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year shall be allocated items of Company income and gain for that taxable year (and, if necessary, for subsequent taxable years) equal to that Member’s 's share of the net decrease in the Partner Nonrecourse Debt Minimum Gain, determined in accordance with Treasury Regulations Section 1.704-2(i)(4). This Section A.4.2(b) is intended to comply with the chargeback of partner nonrecourse debt minimum gain required by Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are met.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Regulation Section 1.704-2(i)(4), anything to the contrary in notwithstanding any other provision of this Article 9 (other than Section notwithstanding9.3(b).), if there is a net decrease in Partner Nonrecourse Debt Minimum Gain attributable to a Partner Nonrecourse Debt during a taxable yearany Fiscal Year, then, in addition to the amounts, if any, allocated pursuant to paragraph 4.2(a), any Member with each Partner who has a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year shall be allocated items of Company income and gain for that taxable year (and, if necessary, for subsequent taxable years) equal to that Member’s share of the net decrease in the Partner Nonrecourse Debt Minimum Gain, determined in accordance with Treasury Regulations Regulation § 1.704-2(i)(5), shall be specially allocated items of Partnership income and gain for such Fiscal Year (and, if necessary, subsequent Fiscal Years) in an amount equal to each such Partner’s share of the net decrease in Partner Nonrecourse Debt Minimum Gain, said aggregate net decrease determined in accordance with Treasury Regulation Section 1.704-2(i)(4). The items of Partnership income and gain to be so allocated shall be determined in accordance with Treasury Regulation Section 1.704-2(i)(4) and 1.704-2(j)(2)(ii). This Section A.4.2(b) is intended to comply with the chargeback of partner nonrecourse debt partnership minimum gain required by chargeback requirement in Treasury Regulations Regulation Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent the requirements for any exceptions provided set forth in Treasury Regulation Section 1.704-2(i)(41.704(f)(2) are metand (3) to the extent applicable.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), Notwithstanding anything to the contrary in this Article IV (other than Section notwithstanding4.4.1 above), if during a fiscal year there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable year(as determined in accordance with Regulations Section 1.704-2 (i)(3)), then, in addition to the amounts, if any, allocated allocated, pursuant to paragraph 4.2(a)Section 4.4.1, any Member Partner with a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year shall Fiscal Year shall, subject to the exceptions set forth in Regulations Section 1.704-2(i)(4), be allocated items of Company income and gain for that taxable year (and, if necessary, for subsequent taxable yearssucceeding Fiscal Years) equal to that MemberPartner’s share of the net decrease in the Partner Nonrecourse Debt Minimum Gain. The Executive Committee may, determined if the application of this Partner Nonrecourse Debt Minimum Gain chargeback requirement would cause a distortion in accordance with Treasury the economic arrangement among the Partners, request the Commissioner of the Internal Revenue to waive the minimum gain chargeback requirement pursuant to Regulations Section Sections 1.704-2(f)(4) and 1.704-2(i)(4). This Section A.4.2(b) The foregoing is intended to comply with be the “chargeback of partner nonrecourse debt minimum gain gain” required by Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including and applied in all respects in accordance with that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are metRegulation.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except Losses attributable to partner nonrecourse debt (as otherwise provided defined in Treasury Regulations Section 1.704-2(i)(42(b)(4), anything to ) shall be allocated in the contrary in this manner required by Treasury Regulations Section notwithstanding, if 1.704-2(i). If there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable year, then, Taxable Year in addition to the amounts, if any, allocated partner nonrecourse debt minimum gain (as determined pursuant to paragraph 4.2(aTreasury Regulations (or otherwise Section 1.704-2(i)(3)), any each Member with that has a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year such partner nonrecourse debt minimum gain shall be specially allocated items of Company income and gain Profits for that taxable year such Taxable Year (and, if necessary, for subsequent taxable yearsTaxable Years) in an amount equal to that Member’s share of the net decrease in the Partner Nonrecourse Debt Minimum Gain, partnership nonrecourse debt minimum gain. Items to be allocated pursuant to this paragraph shall be determined in accordance with Treasury Regulations Section 1.704-2(i)(4) and 1.704-2(j)(2). This Section A.4.2(b4.3(a) is intended to comply with the chargeback of partner nonrecourse debt minimum gain required by chargeback requirements in Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are met.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), notwithstanding anything to the contrary in this Section notwithstandingA.4, if there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable year, then, in addition to the amounts, if any, allocated pursuant to paragraph 4.2(a), any Member with a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year shall be allocated items of Company income and gain for that taxable year (and, if necessary, for subsequent taxable years) equal to that Member’s share of the net decrease in the Partner Nonrecourse Debt Minimum Gain, determined in accordance with Treasury Regulations Section 1.704-2(i)(4). This Section A.4.2(b) is intended to comply with the chargeback of partner nonrecourse debt minimum gain required by Treasury Regulations Section 1.704-2(i)(41.7042(i)(4) and shall be interpreted consistently therewith, including that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are met.

Partner Nonrecourse Debt Minimum Gain Chargeback. Except as otherwise provided in Treasury Regulations Section 1.704-2(i)(4), Notwithstanding anything to the contrary in this Article IV (other than Section notwithstanding4.3.1 above), if during a fiscal year there is a net decrease in Partner Nonrecourse Debt Minimum Gain during a taxable year(as determined in accordance with Regulations Section 1.704-2 (i)(3)), then, in addition to the amounts, if any, allocated allocated, pursuant to paragraph 4.2(a)Section 4.3.1, any Member Partner with a share of that Partner Nonrecourse Debt Minimum Gain (determined in accordance with Treasury Regulations Section 1.704-2(i)(5)) as of the beginning of the taxable year shall Fiscal Year shall, subject to the exceptions set forth in Regulations Section 1.704-2(i) (4), be allocated items of Company income and gain for that taxable year (and, if necessary, for subsequent taxable yearssucceeding Fiscal Years) equal to that MemberPartner’s share of the net decrease in the Partner Nonrecourse Debt Minimum Gain. The Executive Committee may, determined if the application of this Partner Nonrecourse Debt Minimum Gain chargeback requirement would cause a distortion in accordance with Treasury the economic arrangement among the Partners, request the Commissioner of the Internal Revenue to waive the minimum gain chargeback requirement pursuant to Regulations Section Sections 1.704-2(f)(4) and 1.704-2(i)(4). This Section A.4.2(b) The foregoing is intended to comply with be the “chargeback of partner nonrecourse debt minimum gain gain” required by Treasury Regulations Section 1.704-2(i)(4) and shall be interpreted consistently therewith, including and applied in all respects in accordance with that no chargeback shall be required to the extent the requirements for any exceptions provided in Treasury Regulation Section 1.704-2(i)(4) are metRegulation.