Common use of Tax Driven Lease Transactions Clause in Contracts

Tax Driven Lease Transactions. Until any real property asset of the Borrower or a Subsidiary Guarantor that is subject to a Tax Driven Lease Transaction has been repurchased by the Borrower or such Subsidiary Guarantor as provided in the applicable Tax Driven Lease Transaction Documents, neither the Borrower nor any Subsidiary Guarantor shall, without the prior written consent of the Agent, modify or amend any Tax Driven Lease Transaction Documents, or any other agreement related thereto, in any manner that would (i) cause a change in the accounting treatment of such Tax Driven Lease Transaction under GAAP, (ii) adversely affect in any material respect the ability of the Borrower or a Subsidiary Guarantor to repurchase any property of the Borrower or a Subsidiary Guarantor that is subject to a Tax Driven Lease Transaction for nominal consideration or (iii) otherwise cause such transaction to not meet the terms of the definition of Tax Driven Lease Transactions.

Appears in 6 contracts

Samples: Credit Agreement (QTS Realty Trust, Inc.), Term Loan Agreement (QualityTech, LP), Credit Agreement (QTS Realty Trust, Inc.)

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Tax Driven Lease Transactions. Until any real property asset of the Borrower or a Subsidiary Guarantor that is subject to a Tax Driven Lease Transaction has been repurchased by the Borrower or such Subsidiary Guarantor as provided in the applicable Tax Driven Lease Transaction Documents, neither the Borrower nor any Subsidiary Guarantor shall, without the prior written consent of the Agent, modify or amend any Tax Driven Lease Transaction Documents, or any other agreement related thereto, in any manner that would (i) cause a change in the accounting treatment of such Tax Driven Lease Transaction under GAAP, (ii) adversely affect in any material respect the ability of the Borrower or a Subsidiary Guarantor to repurchase any property of the Borrower or a Subsidiary Guarantor that is subject to a Tax Driven Lease Transaction for nominal consideration or (iii) otherwise cause such transaction to not meet the terms of the definition of Tax Driven Lease Transactions.. 108

Appears in 1 contract

Samples: Assignment and Acceptance Agreement (QualityTech, LP)

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