Denver Arena Trust Sample Clauses

Denver Arena Trust. (i) Ascent Arena Company is the sole certificate holder of the trust certificates of the Denver Arena Trust (the "Trust Certificates"), and there are no other outstanding trust certificates, and no outstanding subscriptions, options, warrants, puts, calls, rights, exchangeable or convertible securities or other commitments or agreements of any nature relating to the trust certificates of the Denver Arena Trust. Ascent Arena Company has the sole right to receive distributions with respect to the Residual Interest as defined in the Trust Agreement, subject only to the City Lien. (ii) The Trust Certificates are free and clear of all Liens, other than those created by this Agreement and the City Lien. The Trust Certificates were issued in compliance with the Trust Agreement and Applicable Law. (iii) The Denver Arena Trust is not a business trust within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. For federal, state and local income and franchise tax purposes, by virtue of there being a sole Trust Certificate holder, the Denver Arena Trust constitutes a security arrangement, with the assets being held by the trust, the owner of the trust assets being the sole Trust Certificate holder, and the Notes being non-recourse debt of the sole Trust Certificate holder. The Denver Arena Trust has not elected treatment as an association under Treasury Regulations Section 301.7701-3(a) for federal income tax purposes. The Denver Arena Trust shall be considered part of Ascent Arena Company for purposes of the definition of Partnership Entity. (iv) The Denver Arena Trust does not own, directly or indirectly, any equity or similar interest in, or any interest convertible or exchangeable or exercisable for any equity or similar interest in, any corporation, partnership, joint venture, limited liability company or other business association or entity. (v) Ascent Arena Company has not received any distributions of the Residual Interest or other amounts pursuant to the Trust Agreement.
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Denver Arena Trust. Ascent Arena Company has not received any distributions of the Residual Interest or other amounts pursuant to the Trust Agreement.
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Denver Arena Trust. (1) Ascent Arena Company is the sole certificate holder of the trust certificates of the Denver Arena Trust (the "TRUST CERTIFICATES"), and there are no other outstanding trust certificates, and no outstanding subscriptions, options, warrants, puts, calls, rights, exchangeable or convertible securities or other commitments or agreements of any nature relating to the trust certificates of the Denver Arena Trust. Ascent Arena Company has the sole right to receive distributions with respect to the Residential Interest as defined in the Trust Agreement, subject only to the City Lien. (2) The Trust Certificates are free and clear of all Liens, other than those created by this Agreement and the City Lien. The Trust Certificates were issued in compliance with the Trust Agreement and Applicable Law. (3) The Denver Arena Trust is not a business trust within the meaning of Section 101(9)(A)(v) of the Bankruptcy Code. For federal, state and local income and franchise tax purposes, by virtue of there being a sole Certificateholder, the Denver Arena Trust constitutes a security arrangement, with the assets being held by the trust, the owner of the trust assets being the sole Certificateholder, and the Notes being non-recourse debt of the sole Certificateholder. The Denver Arena Trust has not elected treatment as an association under Treasury Regulations Section 301.7701-3(a) for federal income tax purposes. The Denver Arena Trust shall be considered part of Ascent Arena Company for purposes of the definition of Partnership Entity.
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Denver Arena Trust. Ascent Arena Company has received certain distributions of the Residual Interest or other amounts pursuant to the Trust Agreement. Such distributions have been made in compliance with the Trust Agreement.
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Related to Denver Arena Trust

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