Applicable Tax State definition

Applicable Tax State means the State in which the Owner Trustee maintains its Corporate Trust Office, the State in which the Owner Trustee maintains its principal executive offices and the State of Michigan.

Applicable Tax State means, as of any date, each of the following: (a) the State in which the Issuer is located, and (b) the States of Texas and Illinois.

Applicable Tax State means, as of any date, (i) any State in which the Owner Trustee maintains the Corporate Trust Office, (ii) any State in which the Owner Trustee maintains its principal executive offices and (iii) any State in which the Servicer regularly conducts servicing and collection activities (other than purely ministerial activities) with respect to a material portion of the Receivables.

Examples of Applicable Tax State in a sentence

• Notwithstanding the foregoing, following the delivery to the Owner Trustee of an Opinion of Counsel to the effect that the elimination of restrictions on transfer will not cause the Trust to be taxable as a corporation for Federal income tax purposes or for purposes of the tax laws of any Applicable Tax State, this Agreement may be amended to modify or delete transfer restrictions in accordance with such Opinion of Counsel.

• Notwithstanding the foregoing, following the delivery to the Owner Trustee of an Opinion of Counsel to the effect that the elimination of restrictions on transfer will not cause the Trust to be taxable as a corporation for federal income tax purposes or for purposes of the tax laws of any Applicable Tax State, this Agreement may be amended to modify or delete transfer restrictions in accordance with such Opinion of Counsel.

• The Depositor may not Transfer any such rights unless it shall have received an Opinion of Counsel that such Transfer shall not cause the Trust to be classified as an association (or publicly traded partnership) taxable as a corporation for federal tax purposes or for purposes of the tax law of any Applicable Tax State.

• The Trustee shall, as promptly as possible after the giving of a Termination Notice, appoint a successor servicer (the "Successor Servicer"), and such Successor Servicer shall accept its appointment by a written assumption in a form acceptable to the Trustee ; provided, however, that 115 the Trustee shall not appoint a Successor Servicer if such appointment would materially adversely affect the taxability of the Trust Under Applicable Tax State income tax law.

• It is understood and agreed by the parties hereto that the Servicer may delegate certain of its duties hereunder to Fingerhut; provided, however, that the delegation of such duties shall not materially adversely affect the taxability of the Trust under Applicable Tax State income tax law.

More Definitions of Applicable Tax State

Applicable Tax State means, as of any date of determination, each State as to which any of the following is then applicable: (a) a State in which the Owner Trustee maintains its Corporate Trust Office and (b) the State of Texas.

Applicable Tax State means, as of any date, each State as to which any of the following is then applicable: (a) a State in which the Owner Trustee maintains its Corporate Trust Office, (b) a State in which the Owner Trustee maintains its principal executive offices and (c) the State of North Carolina.

Applicable Tax State means, as of any date of determination, each State as to which any of the following is then applicable: (a) a State in which the Owner Trustee maintains its Corporate Trust Office, (b) a State in which the Owner Trustee maintains its principal executive offices, and (c) the State of Michigan.

Applicable Tax State means, as of any date of determination, the State in which the Owner Trustee maintains its Corporate Trust Office.

Applicable Tax State means, as of any date, each State as to which any of the following is then applicable: (a) a State in which the Owner Trustee maintains its Corporate Trust Office, (b) a State in which the Owner Trustee maintains its principal executive offices, and (c) the State of Ohio [or the State of [ ]].

Applicable Tax State means, as of any date, each of the following: (a) the State in which the Issuer is located and (b) the States of Texas and Arkansas.

Applicable Tax State means, as of any date, each State as to which any of the following is then applicable: (a) the State in which the Issuer is located and (b) the State of Georgia.