Private Business Use Sample Clauses

Private Business Use a. If entering into a contract for the use of or lease of space of any portion of a University building or outdoor space and the third party will use the space for its business use (i.e. not personal use) b. Must obtain BAO Treasury Operations approval prior to signing the Facilities Use Agreement or Lease. c. Send approval request to BAO Treasury Operations – ▇▇▇▇▇▇▇▇@▇▇▇▇▇▇▇.▇▇▇ Bureau of Labor and Industries The protections of the wage and hour laws enforced by BOLI apply to “employment relationships.” Because an “independent contractor” is excluded from the definition of an “employee” (at ORS 652.310(2)(a)), a worker is either an independent contractor or an employee, but never both. ▇▇▇▇’s Wage and Hour Division applies the “economic reality” test to determine whether there is an employment relationship. The “economic reality” test consists of the following five factors which gauge the degree of a worker's economic dependency on the business to which he or she is providing services. Generally speaking, the more dependent a worker is on a particular business, the more likely they are to be an employee. In weighing these factors, it is important to remember that no single factor is determinative for an investigator, administrative law judge or a trial court judge to find that a worker is an independent contractor or an employee. The elements are: (1) The degree of control exercised by the alleged employer (2) The extent of the relative investments of the worker and alleged employer (3) The degree to which the worker's opportunity for profit and loss is determined by the alleged employer (4) The skill and initiative required in performing the job (5) The permanency of the relationship (1) The degree of control exercised by the alleged employer Who sets the hours of work? Who is responsible for quality control? Does the worker have other customers? Who determined the rate of pay? Was it negotiated? Who determines how the work gets performed? (2) The extent of the relative investments of the worker and alleged employer Does the worker supply his or her own tools? Does the worker purchase materials necessary to do the job? Has the worker invested in bonds / insurance / advertising? (3) The degree to which the worker's opportunity for profit and loss is determined by the alleged employer Is the worker free to bring on additional workers to speed up the job? At whose expense? Does working or managing the project more efficiently increase profit for the worker...

Private Business Use. So long as any Series 2023 Bonds remain outstanding under the Code, the Manager agrees that it will manage the ▇▇▇▇▇ Port Public Roadway in such a manner that at least 90% of the Net Proceeds of the Series 2023 Bonds utilized for ▇▇▇▇▇ Port Public Roadway will be treated as used, directly or indirectly, in activities that do not constitute a Private Business Use; not more than 10% of the proceeds of the Series 2023 Bonds utilized for the ▇▇▇▇▇ Port Public Roadway will be treated under the Code as used, directly or indirectly, in a Private Business Use; and not more than 5% of the proceeds of the Series 2023 Bonds utilized for the ▇▇▇▇▇ Port Public Roadway will be treated under the Code as used, directly or indirectly, in a Private Business Use that is not directly related to the use of the ▇▇▇▇▇ Port Public Roadway for the Roadway Function. The Manager will not enter into any contract or other arrangement that would cause more than 10% of the proceeds of the Series 2023 Bonds utilized for the ▇▇▇▇▇ Port Public Roadway to be treated under the Code as used, directly or indirectly, in a Private Business Use, or more than 5% of the proceeds of the Series 2023 Bonds utilized for the ▇▇▇▇▇ Port Public Roadway to be treated under the Code as used, directly or indirectly, in a Private Business Use that is not directly related to the use of the ▇▇▇▇▇ Port Public Roadway as public infrastructure improvements. The Manager may depart from its covenants in this subparagraph (c) only if and to the extent requested in writing by the Manager and approved in writing by the Port Authority and if a No Adverse Effect Opinion, describing the extent to which the Manager may depart from such covenants, is obtained, which shall be at the sole cost and expense of the Manager, and delivered to the Port Authority and the Trustee.

Private Business Use. In furtherance of the covenant set forth in paragraph (a) above, the Borrower represents and covenants that the Borrower has not and will not use (or cause or permit to be used) more than five percent of the Financed Property or of the Net Proceeds, or any income from any Investment thereof, (i) in any trade or business carried on by any person that is not an Exempt Person or (ii) in any Unrelated Trade or Business of the Sole Member and of any other Exempt Person (further defined herein as a “Private Business Use”). The test described in this paragraph is referred to herein as the “Private Business Use Test.” The Borrower acknowledges that any use of Proceeds to pay Costs of Issuance of the Bonds constitutes private business use. For purposes of the private business use test, certain incidental uses of a facility may be disregarded (and need not be treated as private business use) to the extent that the Proceeds which result in the incidental use do not exceed 2-1/2 percent of the total Proceeds. The use of the Financed Property by a person will be treated as an incidental use if such use does not involve the transfer to such person of possession and control of space that is separated physically from other areas of the facility and is not related to any other use of the facility by the same person. For example, use of space in common areas of an office building for vending machines, pay telephones and kiosks may be disregarded. The Borrower acknowledges that arrangements with third parties including, but not limited to, arrangements involving solar panel, cell tower, advertising or wind turbine installations upon Financed Property, or similar direct or indirect uses by third parties of Financed Property may cause the Bonds to meet the Private Business Use Test or the Private Security/Payment Test. The Borrower agrees to contact ▇▇▇▇ Counsel to discuss the impact of any such proposed arrangements upon the tax status of the Bonds and other obligations issued by or on behalf of the Borrower from time to time. The Borrower will not allow the Financed Property to be used in the trade or business of any person that is a non-Exempt Person (or by any person that is an Exempt Person but in an Unrelated Trade or Business of the Sole Member and of the Exempt Person) unless the Borrower obtains an opinion of Bond Counsel that such use would not adversely affect the tax status of interest on the Bonds, or unless such use complies with the short-term use exception desc...

Private Business Use. The City shall assure that the Athletic Fields and the Improvements are not used by third parties as to cause the Lease to satisfy the private business tests of Section 141(b) of the Internal Revenue Code of 1986 (the “Code”) as in effect on the date of execution of this Agreement or the private loan financing test of Section 141(c) of the Code.

Private Business Use. With respect to the use of the facilities financed or refinanced with the proceeds of the Bonds the Responsible Person will: (i) monitor the date on which the facilities are substantially complete and available to be used for the purpose intended; (ii) monitor whether, at any time the Bonds are outstanding, any person, other than the City, the employees of the City, the agents of the City or members of the general public has any contractual right (such as a lease, purchase, management or other service agreement) with respect to any portion of the facilities; (iii) monitor whether, at any time the Bonds are outstanding, any person, other than the City, the employees of the City, the agents of the City or members of the general public has a right to use the output of the facilities (e.g., water, gas, electricity); (iv) monitor whether, at any time the Bonds are outstanding, any person, other than the City, the employees of the City, the agents of the City or members of the general public has a right to use the facilities to conduct or to direct the conduct of research; (v) determine whether, at any time the Bonds are outstanding, any person, other than the City, has a naming right for the facilities or any other contractual right granting an intangible benefit; (vi) determine whether, at any time the Bonds are outstanding, the facilities are sold or otherwise disposed of; and (vii) take such action as is necessary to remediate any failure to maintain compliance with the covenants contained in the Resolution related to the public use of the facilities.

Private Business Use. During the term of the Notes, the City reasonably expects that: (a) No Proceeds of the Notes will be used for any Private Business Use; (b) Payment of the principal of or interest on the Notes is not (under the terms of the Notes or any underlying arrangement) directly or indirectly (i) secured by any interest in (A) property used or to be used for a Private Business Use or (B) payments in respect of such property or (ii) to be derived from payments (whether or not to the City) in respect of property or borrowed money used or to be used for a Private Business Use; (c) No portion of the proceeds of the Notes will be used (directly or indirectly) to make or finance loans to any person, other than persons which are Governmental Units; and

Private Business Use. Throughout the Lease Term, all of the Property is expected to be owned and used by Lessee for purposes that are essential to the proper, efficient, and economic operation of Lessee. Throughout the Lease Term, the Lessee does not expect to have, and will not enter into, any agreements with any entity or person that relate to the use, operation or maintenance of the Property. Other than Lessee, no person or entity will own the Property or otherwise use, benefit from or enjoy the Property during the Lease Term. Throughout the Lease Term, no portion of the Property will be used directly or indirectly in any trade or business carried on by any nonexempt person (within the meaning of Section 103 of the Code). The Lessee may deviate from the provisions of this Section, provided such deviation is otherwise permitted under this Agreement, and ▇▇▇▇▇▇ first obtains an opinion of nationally recognized counsel in the area of tax exempt municipal obligations satisfactory to Lessor and addressed to Lessee and Lessor to the effect that the proposed deviation will not adversely affect the exclusion of the interest portion of the Lease Payments payable under the Agreement from gross income for federal income tax purposes.