Special Election. The Company shall elect on its federal income tax return for its first Fiscal Year to use the safe harbor method of accounting for track structure expenditures provided in Rev. Proc. 2002-65 and follow such safe harbor method of accounting until the Members unanimously agree otherwise.
Special Election. If one or more vacancies should occur during a term by reason of death, disability, resignation or removal, the Trustees shall, within sixty days of any vacancy, promptly hold a separate special election to elect each successor Trustee to complete the remainder of a term. Only those Voting Trust Certificates with respect to which votes were cast in favor of the Trustee who has died, become disabled, resigned or been removed may be cast with respect to the election of the successor Trustee. If the Trustee who has died, become disabled, resigned or been removed is a Trustee as of the effective date of this amendment and restatement, only those Voting Trust Certificates deposited by or otherwise held hereunder for such Trustee, either in his or her personal or fiduciary capacity, may be cast with respect to the election of the successor Trustee, including any such Voting Trust Certificates then held by a Permitted Transferee who, even after the application of Section 4.3, is entitled to vote hereunder. The identification of those Voting Trust Certificates shall be made by the Trustees as they may reasonably determine.
Special Election. In the event that the Secretary of HHS determines that it is in the best interest of the OPTN, the Secretary of HHS may hold a special election of all OPTN Board of Directors. The OPTN Board of Directors will be elected by OPTN members. INVEST shall abide by the terms and results of such special election and ensure an orderly and efficient transition to any new OPTN Board of Directors.
Special Election. The parties agree that with respect to the contributed real estate assets owned directly or indirectly by Contributors through limited liability companies or joint ventures, at the election of the Contributors, AIOP will either (1) use the remedial method as set out in Treasury Regulation Section 1.704-3(d) for partnership allocation purposes, or (2) use the traditional method as set out in Treasury Regulation Section 1.704-3(b) for partnership allocation purposes and allow the Contributors to guarantee AIOP debt and/or elect to undertake an obligation to restore deficit capital accounts in an amount that is sufficient to allocate an amount of either recourse debt or partner nonrecourse debt ( as defined in Treasury Regulation Section 1.704-2(b)(4)) that equals or exceeds such partners tax basis deficit capital accounts. If the contributors elect to use the remedial method as described above, the parties agree that AIOP will maintain nonrecourse debt on the contributed properties in an amount not less than the current amount of that certain loan from GE Financial Assurance Corporation dated December 21, 1998 in the original amount of $2,654,000 secured by the Sunlake Mobile Home Park, as adjusted in the future by scheduled principal payments called for in such loan. To the extent that any of the contributed real estate is sold or otherwise disposed of by AIOP in a taxable transaction other than a non-taxable like-kind exchange of property pursuant to IRC Section 1031 within five years of the date of this agreement, the Contributors' shall have the right, but not the obligation, for their OP Units to have the same characteristics as other OP Units with respect to all items of income, gain, loss, deduction and distributions other than the following: the Contributors' OP Units will receive a special allocation of depreciation and other deductions in the year of such sale and each year thereafter as necessary until the cumulative amount of such depreciation and other deductions equals the amount of gain on the taxable sale of contributed property allocated to the Contributors pursuant to IRC Section 704 (c). In no event will such special allocation be made in a year in which, after considering such special allocation, Asset Investors Corporation fails to make distributions (as defined pursuant to IRC Sections 561 and 857 (b)(2)(B)) in an amount at least equal to its taxable income for such year (as defined pursuant to IRC Section 857 (b)(2)). If the above spec...
Special Election. A provision of the Plan included in this Article which supersedes the general presumptions set forth in Code Section 401(a)(9) and the treasury regulations thereunder. To the extent that this Article does not include any provisions for Special Elections, the default provisions of Code Section 401(a)(9), as set forth below shall apply.
Special Election. Xxxxxxxx further agrees to assume all responsibility for the selection of the annuity carrier(s) indicated below for the purposes of this agreement. It is mutually understood that this agreement supersedes and replaces any prior agreements(s).
Special Election. 63 Contents - p. 3 Page ---- ARTICLE VI General Indemnity -----------------
Special Election. In connection with the possible ---------------- occurrence of an event described in Section 5.08(a)(i) or (ii) and in lieu of the possible prepayment of the outstanding Notes in accordance with Section 5.08(a) and Section 2.7(a)(ix) of the Indenture, Lessee may elect to deliver an irrevocable written notice to Owner Trustee and Indenture Trustee at least 20 days prior to the first issuance of any Series B Notes to the effect that Lessee will cause to be delivered an Instruction Certificate with respect to each Series of Series B Notes to be issued stating that such Series of Notes will include, in addition to other terms that may be described therein, a term providing for the prepayment of such Notes, in whole but not in part, with Premium Amount, or in lieu thereof an election to effect an Exchange of the Notes pursuant to Section 2.13 of the Indenture.
Special Election. I This election may be made only for the year you separate from service with your employer. Under Special Election I, the maximum amount of contributions that may be made to your 403(b) plan for that year will be the lesser of:
(1) $30,000; or
(2) your exclusion allowance limitation for the year, using the "official calculation" from Worksheet #1, taking into account, however, only your years of service and the prior contributions by your employer on your behalf during the 10-YEAR PERIOD PRECEDING YOUR SEPARATION FROM SERVICE.
