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Nonrecourse Liabilities

Polish translation: zobowiązania nieregresowe

GLOSSARY ENTRY (DERIVED FROM QUESTION BELOW)

English term or phrase:	Nonrecourse Liabilities
Polish translation:	zobowiązania nieregresowe
Entered by:	LilBridge

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14:17 Oct 31, 2009

English to Polish translations [PRO]
Bus/Financial - Finance (general)

English term or phrase: Nonrecourse Liabilities

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“LLC Minimum Gain” has the meaning of “partnership minimum gain” set forth in Treasury Regulations § 1.704 2(d), and is generally the aggregate gain the LLC would realize if it disposed of its property subject to Nonrecourse Liabilities in full satisfaction of each such liability, with such other modifications as provided in Treasury Regulations § 1.704 2(d). In the case of Nonrecourse Liabilities for which the creditor’s recourse is not limited to particular assets of the LLC, until such time as there is regulatory guidance on the determination of minimum gain with respect to such liabilities, all such liabilities of the LLC shall be treated as a single liability and allocated to the LLC’s assets using any reasonable basis selected by the Manager(s).