QUALIFIED INVESTMENT. 2.3.1 Applicant’s Qualified Investment is described in Schedule 2.3, which is incorporated herein by reference. Property not specifically referenced in Schedule 2.3 and not otherwise meeting the requirements of Chapter 313 and this Agreement shall not be considered to be a Qualified Investment for purposes of this Agreement and will not be subject to this Agreement.
2.3.2 Schedule 2.3 may be amended by adding or removing Qualified Property as allowed by law, which at the time of execution of this Agreement includes: (a) the provisions of Comptroller’s Rule 9.1055; and (b) approval by the District’s Board of Trustees pursuant to §313.027(e) of the Code, which approval shall not be unreasonably withheld by the District.
2.3.3 Property owned by Applicant which is not described in Schedule 2.3 may not be considered to be Qualified Property unless the Applicant (a) submits to the District and the Comptroller a written request to add property to the limitation agreement, which request shall include a specific description of the additional property to which the Applicant requests that the limitation apply; (b) notifies the District and the Comptroller of any other changes to the information that was provided in the Application approved by the District; and (c) provides any additional information reasonably requested by the District or the Comptroller for the purpose of re-evaluating the new or changed conditions.
2.3.4 In the event that Applicant fails to make a Qualified Investment of at least Ten Million Dollars ($10,000,000.00) during the Qualifying Time Period, this Agreement shall become null and void on January 1, 2016.
QUALIFIED INVESTMENT. 2.3.1 Applicant’s Qualified Investment is described in Schedule 2.3, which is incorporated herein by reference. Property not referenced in Schedule 2.3 and not otherwise meeting the requirements of Chapter 313 and this Agreement shall not be considered to be a Qualified Investment for purposes of this Agreement and will not be subject to this Agreement.
2.3.2 Schedule 2.3 may be amended by adding or removing Qualified Property pursuant to: (a) the provisions of Comptroller’s Rule 9.1055; and (b) approval by the District’s Board of Trustees pursuant to §313.027(e) of the Code, which approval shall not be unreasonably withheld by the District.
2.3.3 Property owned by Applicant which is not described in Schedule 2.3 may not be considered to be Qualified Property unless the Applicant (a) submits to the District and the Comptroller a written request to add property to the limitation agreement, which request shall include a specific description of the additional property to which the Applicant requests that the limitation apply; (b) notifies the District and the Comptroller of any other changes to the information that was provided in the Application approved by the District; and (c) provides any additional information reasonably requested by the District or the Comptroller for the purpose of re-evaluating the new or changed conditions.
2.3.4 In the event that Applicant fails to make a Qualified Investment of at least Ten Million Dollars ($10,000,000.00) during the Qualifying Time Period, this Agreement shall become null and void on January 1, 2016.
QUALIFIED INVESTMENT. Subject to the qualifications and limitations described under “Eligibility for Investment” in the Prospectus, the Securities will be qualified investments under the Income Tax Act (Canada) and the regulations thereunder for trusts governed by registered retirement savings plans, registered retirement income funds, registered education savings plans, deferred profit sharing plans, a registered disability savings plan and tax free savings accounts.
QUALIFIED INVESTMENT expenditures incurred to drill, develop or acquire Oil and Gas Properties or to acquire equipment, in each case, useful in the business of Borrower or any Wholly Owned Subsidiary Guarantor.
QUALIFIED INVESTMENT. Subject to the qualifications and limitations described under “Eligibility for Investment” in the Prospectus, the Offered Shares will be qualified investments under the Tax Act and the regulations thereunder for trusts governed by registered retirement savings plans, registered retirement income funds, registered education savings plans, deferred profit sharing plans, a registered disability savings plan and tax free savings accounts.
QUALIFIED INVESTMENT. Where a Québec business investment company makes a qualified investment after 2 May 1991 wholly or partially out of the proceeds of a share issue referred to in the first paragraph, the portion of the amount, referred to in this paragraph as the “particular amount”, renounced by it under the first paragraph in respect of the share issue, represented by the proportion that the amount of such portion of the qualified investment as may reasonably be considered to have been made out of the proceeds of the share issue is of the amount by which the aggregate referred to in subparagraph b of the first paragraph in respect of the share issue exceeds the particular amount, is deemed, for the purposes of paragraph b.2 of section 965.29, to be attributable to the qualified investment. Any renunciation made by a Québec business investment company under the first paragraph in respect of a share issue is valid only if it is made, in prescribed form, on or before the earlier of the last day of its fiscal period in which the share issue commenced and 31 December in the calendar year in which the share issue commenced. History: 1992, c. 1, s. 143; 2002, c. 45, s. 521; O.C. 45-2004; 2004, c. 37, s. 90. (a) on the one hand, only if the expense is an expense that would be deductible under section 147, but for the second paragraph thereof and section 147.1, in computing the income of the Québec business investment company for any taxation year; and
QUALIFIED INVESTMENT. Any Investment by any Borrower in demand deposits, certificates of deposit, bankers acceptances, time deposits or securities commonly known as "commercial paper" issued by BKB having a maturity not less than seven (7) days from the date of purchase by such Borrower.
QUALIFIED INVESTMENT. Pursuant to Section 313.0275 of the TEXAS TAX CODE, in the event that the Applicant fails to make $[Enter actual $ amount being the minimum amount of the Qualified Investment for the category of school district required by Section 313.023 or Section 313.053 of the TEXAS TAX CODE] of Qualified Investment, in whole or in part, during the Qualifying Time Period, the Applicant is liable to the State for a penalty. The amount of the penalty is the amount determined by: (i) multiplying the maintenance and operations tax rate of the school district for that tax year that the penalty is due by (ii) the amount obtained after subtracting (a) the Tax Limitation Amount Agreement for Limitation on Appraised Value Texas Economic Development Act Agreement Between [Insert Name of ISD] and [Insert Name of Applicant] [Insert Date] Page 20 of 29 Comptroller Form 50-826 (Jan 2016) identified in Section 2.4.B from (b) the Market Value of the property identified on the Appraisal District’s records for the Tax Year the penalty is due. This penalty shall be paid on or before February 1 of the year following the expiration of the Qualifying Time Period and is subject to the delinquent penalty provisions of Section 33.01 of the TEXAS TAX CODE. The Comptroller may grant a waiver of this penalty in the event of Force Majeure which prevents compliance with this provision. [OPTIONAL PROVISION if Parties agree to include a remedy for Material Breach in 9.1.C of Agreement] Section 9.7. REMEDY FOR FAILURE TO CREATE AND MAINTAIN REQUIRED NEW QUALIFYING JOBS Pursuant to Section 313.0276 of the TEXAS TAX CODE, for any full Tax Year that commences after the project has become operational, in the event that it has been determined that the Applicant has failed to meet the job creation or retention requirements defined in Sections 9.1.C, the Applicant shall not be deemed to be in Material Breach of this Agreement until such time as the Comptroller has made a determination to rescind this Agreement under Section 313.0276 of TEXAS TAX CODE, and that determination is final. [OPTIONAL PROVISION if Parties agree to include a remedy for Material Breach in 9.1.D of Agreement] Section 9.8. REMEDY FOR FAILURE TO CREATE AND MAINTAIN COMMITTED NEW QUALIFYING JOBS
QUALIFIED INVESTMENT. In the event the Company will be successful in obtaining a Qualified Investment, as defined below, the Purchaser shall pay the Selling Shareholders an additional sum, as follows: for every dollar raised in the Qualified Investment, the Purchaser shall pay the Selling Shareholders an additional sum of $0.0467 (four cents and sixty-seven hundredths of a cent) up to an aggregate additional sum of $70,000 (seventy thousand US Dollars). For purposes of this Agreement, the term "Qualified Investment" shall mean the raising by the Company of an aggregate sum of at least $500,000 (five-hundred thousand US dollars) in debt or equity financing from person(s) other than the Purchaser or an Affiliate of the Purchaser; provided however that in the event of debt financing, an investment shall not be deemed a Qualified Investment if (i) the Purchaser or an Affiliate of the Purchaser is required to provide a guarantee in order for the Company to obtain such financing or (ii) as a result of such debt financing, the pledge of the Company's assets in favor of the Purchaser pursuant to the Pledge Agreement between the Company and the Purchaser, dated as of December 30, 1998, as amended, (a copy of which is attached hereto as Exhibit A), is made inferior to a pledge in favor of such third party lender, unless the full amount of the Loans, as defined below, is repaid as a result of such debt financing. For purposes of this Agreement, "Affiliate" shall mean an entity controlled by, controlling, or under common control with another entity where control is the power to elect or appoint more than 50% of the board of directors or other governing body of such entity or the power to vote more than 50% of the shares of such entity.
QUALIFIED INVESTMENT expenditures incurred to drill, develop or acquire Oil and Gas Properties or to acquire equipment in any geographic area described on Schedule 1.1(c) (as such schedule may be amended, modified or supplemented from time to time with the consent of Borrower and Agent), in each case, useful in the business of Borrower or any Wholly Owned Subsidiary Guarantor.
