PROPERTY ALLOCATION. A. The State Shall:
PROPERTY ALLOCATION a) The LESO shall:
PROPERTY ALLOCATION. Sellers and Purchaser agree that, prior to the Closing, the Allocated Purchase Price for each individual Hotel Asset purchased as part of the Closing shall be allocated for federal, state and local Tax purposes (the “Allocation”) among the applicable portion of (i) the Real Property, (ii) the Improvements, and (iii) the Personal Property as may be determined by agreement of Seller and Purchaser in accordance with Section 1060 of the Internal Revenue Code of 1986, as amended (the “Code”). At least 30 days prior to the Closing, Purchaser shall prepare and deliver to Sellers a draft of the Allocation setting forth its proposed calculation of the aggregate amount of the Allocated Purchase Price to be allocated among the applicable portions of each Hotel Asset sold pursuant to the Closing. If within 10 days after their receipt of the draft of the Allocation Sellers have not objected in writing to such draft allocation, it shall become final. In the event that Sellers object in writing within such 10-day period, Sellers and Purchaser shall negotiate in good faith to resolve the dispute. Upon reaching an agreement on the Allocation, Purchaser and Sellers shall (i) cooperate in the filing of any forms (including Form 8594 under Section 1060 of the Code) with respect to the agreed Allocation, including any amendments to such forms required pursuant to this Agreement with respect to any adjustment to the Purchase Price, and (ii) shall file all federal, state and local Tax returns and related Tax documents consistent with the agreed Allocation, as the same may be adjusted pursuant to any provisions of this Agreement, unless otherwise required pursuant to a “determination” within the meaning of Section 1313(a) of the Code. Notwithstanding the foregoing, if, after negotiating in good faith, Purchaser and Sellers are unable to agree on a mutually satisfactory Allocation, each Purchaser and Sellers shall use its or their own allocation for purposes of this Section 2.3.
PROPERTY ALLOCATION. A. The State Shall: Provide the LESO website that will afford timely and accurate guidance, information, and links for all LEAs who work, or have an interest in, the LESO Program.
PROPERTY ALLOCATION. Seller and Purchaser agree that, prior to Closing, the Allocated Purchase Price and the Allocated Loan Amount (as such term is defined in the Loan Agreement) of the Assumed Debt for each individual Hotel Asset shall be allocated for federal, state and local tax purposes among the applicable portion of (i) the Real Property, (ii) the Improvements, and (iii) the Personal Property as may be determined by agreement of Seller and Purchaser in accordance with Section 1060 of the Code. The Allocated Purchase Price (and any other items that are required for federal income tax purposes to be treated as part of each Allocated Purchase Price) as agreed between Sellers and Purchaser is set forth on Schedule 2 hereto (the “Final Allocation”). Purchaser and Seller shall (i) cooperate in the filing of any forms (including Form 8594 under Section 1060 of the Code) with respect to such Final Allocation, including any amendments to such forms required pursuant to this Agreement with respect to any adjustment to the Purchase Price, and (ii) shall file all federal, state and local tax returns and related tax documents consistent with such Final Allocation, as the same may be adjusted pursuant to any provisions of this Agreement.
PROPERTY ALLOCATION. The State shall: Upon receipt of a valid LEA request for property through the DLA Disposition Services RTD Website, give a preference to those requisitions indicating that the transferred property will be used in the counter-drug/counter-terrorism or border security activities of the recipient LEA. Additionally, to the greatest extent possible, the State will ensure fair and equitable distribution of property based the LEA’s current inventory and the LEA’s justifications for property. The State and the LESO reserves the right to determine and/or adjust allocation limits. Generally, no more than one of any item per officer will be allocated. Quantity exceptions may be granted on a case-by-case basis by the LESO based on the justification provided by the LEA. Currently, the following allocation limits apply: Small Arms: one (1) of each type for every qualified officer, full-time/part-time; HMMWVs/Up-Armored HMMWVs: one (1) vehicle for every three (3) officers; MRAPs/Armored Vehicles: two (2) vehicles per LEA; and Robots: one (1) of each type for every twenty five (25) officers. Additional justification may be required for small arms and MRAPs/armored vehicles. The LESO reserves final authority on determining the approval and/or disapproval for requests of specific types and quantities of excess DoD property. Access the DLA Disposition Services RTD Website at a minimum of once daily (Monday - Friday) to review/process LEAs’ requests for excess DoD property. The LEA shall: Ensure an appropriate justification is submitted when requesting excess DoD property via the DLA Disposition Services RTD Website. Access the LESO website for timely and accurate guidance, information, and links concerning the LESO Program and ensure that all relevant information is reviewed. When requesting property for counter-drug/counter-terrorism or border security activities, provide a justification that specifies that the property will be used for such activities. Maintain access to FEPMIS to ensure the LEA is properly maintaining their property books, to include, but not limited to, transfers, turn-ins, and disposal requests. FEPMIS account holders must be employees of the LEA. PROGRAM SUSPENSION & TERMINATION The State/LEA is required to abide by the terms and conditions of the DLA/State MOA and this SPO in order to maintain active status. If a State Coordinator or LEA fails to comply with any terms of the DLA/State MOA, Federal statute or regulation, or this SPO, the State and/or L...
