Common use of DURATION OF TAX CREDIT Clause in Contracts

DURATION OF TAX CREDIT. A. The Company may claim a Tax Credit for any Taxable Year during the Term of this Agreement for which the IEDC certifies a credit to the Company. A Tax Credit may first be claimed under this Agreement for the Company’s First Eligible Tax Year. Notwithstanding the foregoing or anything in this Agreement to the contrary, the Company shall not be entitled to a Tax Credit for any qualified investment, as defined in Indiana Code § 6-3.1-34-7 (“Qualified Investment”) made after the Redevelopment Project Investment Deadline. The Company (or Credit Assignee) may carry forward any excess Tax Credit for nine (9) consecutive Taxable Years beginning with the Taxable Year after the Taxable Year for which the IEDC certifies the Qualified Investment, even if such Taxable Year extends beyond the Expiration Date of this Agreement.

DURATION OF TAX CREDIT. A. The Company may claim a Tax Credit for any Taxable Year during the Term of this Agreement for which the IEDC certifies a credit to the Company. A Tax Credit may first be claimed under this Agreement for the Company’s First Eligible Tax Year. Notwithstanding the foregoing or anything in this Agreement to the contrary, the Company shall not be entitled to a Tax Credit for any qualified investment, as defined in Indiana Code § 6-3.1-34-7 (“Qualified Investment”) made after the Redevelopment Project Investment Deadline. The Company (or any Credit Assignee) may carry forward any excess Tax Credit for nine (9) consecutive Taxable Years beginning with the Taxable Year after the Taxable Year for which the IEDC certifies the Qualified Investment, even if such Taxable Year extends beyond the Expiration Date of this Agreement.