Change in Tax Status. Approve any change to the tax status of the Trust including, without limitation, to qualify the Trust as a passive income trust, instead of a FIBRA, and for the Investment Trusts to qualify as FIBRAs, instead of passive income trusts, for purposes of the LISR and other applicable tax provisions (in which case, any Real Estate Assets will be required to be held exclusively by the Investment Trusts); provided, that in this case, the Extraordinary Holders Meeting shall approve, in such case, the exchange of CBFIs for trust securities (certificados bursatiles fudiciarios) to the Holders, in which case, are issued by the Trust through an exchange offer, as well as the cancellation of the registration of the CBFIs in the RNV and the registration of the new trust securities (certificados bursatiles fudiciarios) in the RNV.
Change in Tax Status. Unless a government agency, the Grantee shall notify the Department immediatelyshould there be any change or expected change in the Grantee’s tax status as recognized by the U.S. Internal Revenue Service.
Change in Tax Status. Unless a government agency, the Contractor shall notify the Department immediately should there be any change or expected change in the Contractor’s tax status as recognized by the U.S. Internal Revenue Service.
Change in Tax Status. The Grantee shall notify the New Jersey Department of Environmental Protection immediately should there be any change or expected change in the grantee's tax status as recognized by the U.S. Internal Revenue Service.(* Disregard if grant made to a government unit.)
Change in Tax Status. Borrower shall fail to qualify as a regulated investment company under Subchapter M of the Code. Notwithstanding anything to the contrary contained herein, subject to the satisfaction of the conditions precedent to the effectiveness of this Agreement provided in Section 3.1, Lender hereby waives any Event of Default under Section 7.1(a) that may exist as of the A&R Date due to any failure to pay amounts due by the Maturity Date (as defined under the Existing Credit Agreement); provided, however, that the foregoing waiver is not a waiver of any subsequent Default or Event of Default of the same provisions of this Agreement, nor is it a waiver of any other current or future Default or Event of Default under this Agreement; provided further that Lender is not obligated to provide this or any other waiver of its default rights.
Change in Tax Status. Each Party acknowledges that the consummation of the transactions contemplated hereby will result in the termination, as of the Closing Date, of Delta's status as an S Corporation under the Code. Furthermore, each Party acknowledges that in accordance with section 1362(e) of the Code and the Treasury regulations thereunder (i) the portion of Delta's taxable year beginning January 1, 1995 and ending on the day prior to the Closing Date shall be treated as a short taxable year for which Delta is an S Corporation (the "S short year"), (ii) the portion of Delta's taxable year beginning on the day following the end of the S short year and ending on September 30, 1995 shall be treated as a short taxable year for which Delta is a C Corporation subject to federal income tax imposed by Subtitle A, Chapter 1 of the Code (the "C short year"), and (iii) that items shall be allocated between the S short year and the C short year on the basis of Delta's normal tax accounting method. The Parties agree to provide Getty and those persons designated by Getty as responsible for the preparation of the Form 1120 S and accompanying schedules required to be filed by Delta with the Internal Revenue Service for the S short year access to the books and records of Delta for purposes of preparing the Form 1120 S and accompanying schedules.
Change in Tax Status. Promptly, at any time from time to time, if the Borrower becomes part of an affiliated group (as defined in Section 1504 of the Code) of any Common Parent for U.S. federal, state or local income tax purposes.
Change in Tax Status. The Company's election to be treated as an S Corporation for New York income tax purposes shall be revoked, effective as of the day prior to the Closing Date. The Company and the Stockholder shall take all actions, including the timely execution and filing of forms, necessary to effectuate such revocation; provided, however, that no action shall be taken to revoke the Company's election to be treated as an S Corporation for federal income tax purposes. If so directed by the Buyer prior to the Closing Date, the Company's election to be treated as an S Corporation shall be similarly revoked for Michigan income tax purposes. If the S Period Tax Return is not filed by January 1, 1997, then this Section 11.3 shall be initially applied as if the S Period Tax Return had been filed on January 1, 1997 based upon reasonable estimates made by the Surviving Corporation. This Section 11.3 shall again be applied, with appropriate adjustments, upon the actual filing of the S Period Tax Return.
