Placed In Service. (i) Property shall be considered as placed in service at the time the property is placed in a condition or state of readiness and availability for a specifically assigned function. If an entire facility is leased under one lease, property which is part of the facility will not be considered placed in service under this rule until the entire facility is placed in service. If the lessee claims any investment tax credit or ACRS deductions with respect to any component which is part of an entire facility that is subsequently leased, the lessee must file an amended return within the time prescribed in paragraph (b)(2)(ii) of this section in which it foregoes its claim to the in- vestment tax credit and ACRS deduc- tions. If such amended return may not be filed because the time for filing a claim for refund with respect to any component under section 6511 has ex- pired, each component of the facility will be considered as placed in service at the time the individual component is placed in a condition or state of readiness and availability for a specifi- xxxxx assigned function and not when the entire facility is placed in service.
(ii) For purposes other than deter- mining whether property is qualified leased property, property subject to a lease under section 168(f)(8) will be deemed to have been placed in service not earlier than the date such property is used under the lease. If the lessee claims any investment tax credit or ACRS deductions with respect to prop- erty placed in service under a lease, the lessee must file an amended return within 3 months following the execu- tion of the lease agreement in which the lessee foregoes its claim to the in- vestment tax credit and ACRS deduc- tions with respect to the leased prop- erty or the election under section 168(f)(8) will be void.
(iii) The application of this para- graph (b)(2) may be illustrated by the following examples:
Placed In Service. The Project was “placed in service” on the date set out on Schedule 2 to this Final Written Allocation. For this purpose, the assets are considered to be “placed in service” as of the date on which, based on all the facts and circumstances: (a) the constructing and equipping of the asset has reached a degree of completion which would permit its operation at substantially its design level; and (b) the asset is, in fact, in operation at that level.
Placed In Service. Schedule I hereto specifically identifies, to the extent known to the Company with respect to Aircraft not first placed in service by the Company, if the Aircraft was first placed in service after October 22, 1994 or was acquired by the Company with the proceeds of the Credit Agreement ("Section 1110 Property"). Each Security Agreement Supplement adding a Replacement Engine to be subject to the Lien of this Security Agreement shall also identify to the extent known to the Company whether such Engine was first placed in service after October 22, 1994.]**/ ------------------- **/ The Company agrees that this Security Agreement will grant to the Agent the benefits of Section 1110 if such Section applies to the Airframe, any Engine or any Replacement Engine.
Placed In Service. Schedule I hereto specifically identifies, to the extent known to the Company with respect to Engines not first placed in service by the Company, each Engine first placed in service after October 22, 1994 ("Section 1110 Engines"). Each Security Agreement Supplement adding an Engine to be subject to the Lien of this Security Agreement shall also identify, to the extent known to the Company whether such Engine was first placed in service after October 22, 1994.
Placed In Service. Each Current Project has been Placed-In-Service prior to the applicable Borrowing Date with respect to each such Current Project.
Placed In Service. The Project was “placed in service” on the date set out on Schedule 2 to this Final Written Allocation. For this purpose, the assets are considered to be “placed in service” as of the date on which, based on all the facts and circumstances: (a) the constructing and equipping of the asset has reached a degree of completion which would permit its operation at substantially its design level; and (b) the asset is, in fact, in operation at that level. This allocation has been prepared based on statutes and regulations existing as of this date. The City reserves the right to amend this allocation to the extent permitted by future Treasury Regulations or similar authorities. By: Title: Dated: Name of Legal Counsel/Law Firm Reviewing Final Written Allocation: Date of Review: Parties 1
Placed In Service. The Project was Placed in Service on the date set out on Exhibit B hereto. For this purpose, the Financed Facility is considered to be Placed in Service as of the date on which, based on all the facts and circumstances: (1) the constructing and equipping of the Financed Facility has reached a degree of completion which would permit its operation at substantially its designed level and
Placed In Service. The 2018 Project was Placed in Service on the date set out on Exhibit B hereto. For this purpose, the Financed Facilities are considered to be Placed in Service as of the date on which, based on all the facts and circumstances: (1) the constructing and equipping of the Financed Facilities have reached a degree of completion that would permit their operation at substantially their designed level, and
Placed In Service. Schedule I hereto specifically identifies, to the extent known to the Company with respect to Aircraft not first placed in service by the Company, if the Aircraft was first placed in service after October 22, 1994 or was acquired by the Company with the proceeds of the Credit Agreement ("Section 1110 Property"). Each Security Agreement Supplement adding a Replacement Engine to be subject to the Lien of this Security Agreement shall also identify to the extent known to the Company whether such Engine was first placed in service after October 22, 1994.]**/
Placed In Service. Notwithstanding anything in the Loan Agreement to the contrary, the Borrower and the Guarantors hereby covenant and agree that the principal amount of all Revolving Loans, the proceeds of which have been used to fund Capital Contributions or Direct Investments to a particular Property Partnership, and all accrued interest thereon and any other Obligations relating thereto, shall be due and payable in full prior to such time as such Property Partnership is “placed in service” (as such phrase is used in the Code) for purposes of permitting LIHTCs to be taken under the Code with respect to such Property Partnership.
