Safe Harbor Leases Sample Clauses

Safe Harbor Leases. None of the Purchased Assets constitutes property that Seller is required to treat as being owned by any other Person or entity pursuant to the so-called “safe harbor lease” provisions of former Section 168(f)(8) of the Code or is tax-exempt property within the meaning of Section 168(h) of the Code.
Sample 1
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Safe Harbor Leases. In the case of leases under a safe harbor lease agreement entered into by any of the Companies under section 168(f)(8) of the Internal Revenue Code of 1954, as amended by the Economic Recovery Tax Act of 1981, listed on Schedule 10(k) (each, a "Safe Harbor Lease"), each lessee (in the
Sample 1
Safe Harbor Leases. Notwithstanding the foregoing provisions of this Section 7.1.13, so long as no Event of Default exists, Borrowers may (without the prior written consent of Administrative Agent) enter into (i) a Safe Harbor Lease or (ii) any modification or amendment of any Safe Harbor Lease so long as such Safe Harbor Lease shall remain a “Safe Harbor Lease” following such modification or amendment. Notwithstanding the foregoing provisions of this Section 7.1.13(D), the written consent of Administrative Agent to any Lease that would otherwise qualify as a Safe Harbor Lease shall be required prior to entering into such Lease, as a condition to Administrative Agent’s and/or Lender’s executing any SNDA requested by the Tenant under such Lease. Not later than the date that is ten (10) days following the execution of a Safe Harbor Lease (or a modification or amendment thereof), Borrowers shall provide Administrative Agent with (a) a true, correct and complete copy of such Lease (or such modification or amendment thereof), together with all other items required to be submitted with any Lease pursuant to this Section 7.1.13 and (b) a certification by Borrowers that such Lease (or, if applicable, such Lease together with such modification or amendment) satisfies the requirements set forth herein to qualify as a Safe Harbor Lease.
Sample 1
Safe Harbor Leases. AMI hereby agrees (i) to execute and deliver to each Tax Lessor the written consent described in section 5c.168(f)(8)-2(a)(5) of the Regulations, (ii) to file the statement required by section 5c.168(f)(8)-2(a)(5) of the Regulations with AMI's timely filed federal income tax return (or the federal income tax return of the consolidated group of which AMI is a member) for its taxable year next ending after the Closing Date, (iii) to provide each Tax Lessor with the information concerning AMI that is set forth in section 5c.168(f)(8)-2(a)(5) of the Regulations, and (iv) to report the acquisition of the Assets subject to the Tax Lease Agreements for federal income tax purposes in the manner prescribed by section 5c.168(f)(8)-2(a)(7) of the Regulations or any successor Regulation.
Sample 1

Related to Safe Harbor Leases

  • Elective Deferrals An Employee will be eligible to become a Contributing Participant in the Plan (and thus be eligible to make Elective Deferrals) and receive Matching Contributions (including Qualified Matching Contributions, if applicable) after completing 1 (enter 0, 1 or any fraction less than 1) Years of Eligibility Service.

  • EMPLOYEE CONTRIBUTIONS [X] (a) Participants shall be permitted to make Elective Deferrals in any amount from 1 % up to 15 % of their Compensation. If (a) is applicable, Participants shall be permitted to amend their Salary Savings Agreements to change the contribution percentage as provided below:

  • Plans and Benefit Arrangements The Borrower shall, and shall cause each other member of the ERISA Group to, comply with ERISA, the Internal Revenue Code and other applicable Laws applicable to Plans and Benefit Arrangements except where such failure, alone or in conjunction with any other failure, would not result in a Material Adverse Change. Without limiting the generality of the foregoing, the Borrower shall cause all of its Plans and all Plans maintained by any member of the ERISA Group to be funded in accordance with the minimum funding requirements of ERISA and shall make, and cause each member of the ERISA Group to make, in a timely manner, all contributions due to Plans, Benefit Arrangements and Multiemployer Plans.

  • Qualified Nonelective Contributions If the Employer, at the time of contribution, designates a contribution to be a qualified nonelective contribution for the Plan Year, the Advisory Committee will allocate that qualified nonelective contribution to the Qualified Nonelective Contributions Account of each Participant eligible for an allocation of that designated contribution, as specified in Section 3.04 of the Employer's Adoption Agreement. The Advisory Committee will make the allocation to each eligible Participant's Account in the same ratio that the Participant's Compensation for the Plan Year bears to the total Compensation of all eligible Participants for the Plan Year. The Advisory Committee will determine a Participant's Compensation in accordance with the general definition of Compensation under Section 1.12 of the Plan, as modified by the Employer in Sections 1.12 and 3.06 of its Adoption Agreement.

  • Leased Employees If a Leased Employee is a Participant in the Plan and also participates in a plan maintained by the leasing organization: (Choose (a) or (b))

  • Qualified Matching Contributions If selected below, the Employer may make Qualified Matching Contributions for each Plan Year (select all those applicable):

  • CODE SECTION 754 ELECTION Upon the approval of the General Partners, the Partnership shall file an election under Code Section 754 to adjust the tax basis of the Partnership Property, with respect to any distribution of Partnership Property to a Partner permitted by this Agreement or a Transfer of a Partnership Interest in accordance with the terms of this Agreement, in accordance with Code Sections 734(b) and 743(b). The Partners acknowledge that once a Code Section 754 election shall be validly filed by the Partnership, it shall remain in effect indefinitely thereafter unless the Internal Revenue Service approves the revocation of such election.

  • Code Section 754 Adjustments To the extent an adjustment to the adjusted tax basis of any Partnership asset pursuant to Section 734(b) or 743(b) of the Code is required, pursuant to Treasury Regulation Section 1.704-1(b)(2)(iv)(m), to be taken into account in determining Capital Accounts, the amount of such adjustment to the Capital Accounts shall be treated as an item of gain (if the adjustment increases the basis of the asset) or loss (if the adjustment decreases such basis), and such item of gain or loss shall be specially allocated to the Partners in a manner consistent with the manner in which their Capital Accounts are required to be adjusted pursuant to such Section of the Treasury Regulations.

  • Excess Nonrecourse Liability Safe Harbor Pursuant to Section 1.752-3(a)(3) of the Regulations, solely for purposes of determining each Partner’s proportionate share of the “excess nonrecourse liabilities” of the Partnership (as defined in Section 1.752-3(a)(3) of the Regulations), the Partners’ respective interests in Partnership profits shall be determined under any permissible method reasonably determined by the General Partner; provided, however, that each Partner who has contributed an asset to the Partnership shall be allocated, to the extent possible, a share of “excess nonrecourse liabilities” of the Partnership which results in such Partner being allocated nonrecourse liabilities in an amount which is at least equal to the amount of income pursuant to Section 704(c) of the Code and the Regulations promulgated thereunder (the “Liability Shortfall”). If there is an insufficient amount of nonrecourse liabilities to allocate to each Partner an amount of nonrecourse liabilities equal to the Liability Shortfall, then an amount of nonrecourse liabilities in proportion to, and to the extent of, the Liability Shortfall shall be allocated to each Partner.

  • Employer Contributions If Employer contributions are permitted, complete (a) and/or (b). Otherwise complete (c).

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