Tax Law Change. Lessee may terminate this Agreement upon 60 days’ notice to Operator if Lessee ceases to be qualified as a real estate investment trust or if the United States tax laws change to allow a hotel REIT to self-manage its properties. In such event, Lessee shall pay Operator a termination fee equal to 50% of the Operator’s Fee paid to Operator during a number of months prior to the notice of termination equal to the lesser of 12 months or the number of months otherwise remaining of the then Initial Term or Renewal Term.
Tax Law Change. In respect of Owner Participant, no Adverse Change in Tax Law shall have been enacted, promulgated or issued on or prior to the Delivery Date. Owner Participant agrees to consider promptly, and to consult with Lessee concerning any such Adverse Change in Tax Law and to advise Lessee and Loan Participant promptly if Owner Participant determines that an Adverse Change in Tax Law which has been enacted or promulgated or, if proposed, has a substantial likelihood of becoming effective, would cause Owner Participant to elect not to close with respect to the Aircraft. At any time on or before the Delivery Date, Owner Participant may notify Lessee and Loan Participant that Owner Participant elects not to close as a result of the enactment, promulgation or issuance of any Adverse Change in Tax Law on or before the Delivery Date, specifying such Adverse Change in Tax Law; and failure to give such notice on or before the Delivery Date shall preclude Owner Participant from not closing with respect to such Aircraft as a result of any Adverse Change in Tax Law.
Tax Law Change. No Adverse Change in Tax Law shall have been enacted, promulgated or proposed on or prior to the Delivery Date. Lessee agrees to consider promptly, and to consult with Owner Participant concerning, any such Adverse Change in Tax Law and to advise Owner Participant and Loan Participant promptly if Lessee determines that an Adverse Change in Tax Law which has been enacted or promulgated or, if proposed, has a substantial likelihood of becoming effective, would cause Lessee to elect not to close the transactions contemplated by the Lease and this Agreement. At any time on or before the Delivery Date, Lessee may notify Owner Participant and Loan Participant that Lessee elects not to close the transactions contemplated by the Lease and this Agreement as a result of the enactment, promulgation or proposal of any Adverse Change in Tax Law on or before the Delivery Date, specifying such Adverse Change in Tax Law.
Tax Law Change. During the period after November 15, 1991 and -------------- ending on the day immediately preceding the Delivery Date, no change in the Code shall have been enacted or proposed, or no change in the Regulations shall have been adopted or proposed, in each case that would adversely affect Owner Participant's Net Economic Return with respect to the Transponders; provided, however, that (i) a change in the Regulations shall -------- ------- be deemed to be proposed for the purposes of this Section 3.01(x) only upon --------------- publication as proposed regulations in the Federal Register and (ii) a change in the Code shall be deemed to be proposed for purposes of this Section 3.01(x) only if it is introduced as a xxxx in the United States --------------- Congress in the form proposed by the U.S. Department of Treasury or by a member of the House Ways and Means Committee or the Senate Finance Committee as sponsor; and provided further that the foregoing shall not -------- ------- relieve Owner Participant of its obligations hereunder if an adjustment to Scheduled Rent payable with respect to Transponders is made, or upon enactment or promulgation would be made, in either case pursuant to Section 4 of the Lease in respect of such change, or if Lessees agree to indemnify against such adverse effect in a manner reasonably satisfactory to Owner Participant.
Tax Law Change. In the case of the Owner Participant, -------------- there shall not have occurred since _____________________ any Change in Tax Law which, in the reasonable opinion of the Owner Participant, renders it disadvantageous or inadvisable for the Owner Participant to consummate the transactions contemplated hereby, including, without limitation, its judgment that the assumed tax benefits set forth in Section 1 of the Tax Indemnity are rendered doubtful or invalid.
Tax Law Change. No change or other modification to any Tax Law has occurred prior to the FNTP Date that would adversely affect the Tax benefits available to Buyer with respect to the Facility or the Transactions;
Tax Law Change. There shall not have occurred any -------------- Change in Tax Law since _________ which, in the reasonable opinion of the Lessee, renders it disadvantageous or inadvisable for the Lessee to consummate the transactions contemplated hereby, including, without limitation, its judgment that there will be an increased risk that it may be required to indemnify the Owner Participant under the Tax Indemnity Agreement.
Tax Law Change. (i) Any amendment to, or clarification of, or change in the laws or treaties (or any regulations promulgated thereunder) of the Kingdom of Norway or any political subdivision or tax authority thereof or therein affecting taxation; (ii) Any Administrative Action; or (iii) Any amendment to, clarification of, or change in the official position or the interpretation of such Administrative Action or any interpretation or pronouncement that provides for a position with respect to such Administrative Action that differs from the theretofore generally accepted position (in each case) by any legislative body, court, governmental authority or regulatory body, irrespective of the manner in which such amendment, clarification or change is made known, which amendment, clarification or change is effective, or which pronouncement or decision is announced, on or after the Issue Date, and, in any such case, where this changes the applicable tax treatment of the Bonds. For the avoidance of doubt, changes in the assessment of the Competent Authority regarding tax effects are not considered as a Tax Law Change.
Tax Law Change. 11 Section 3.03. Post-Registration Opinion.......................... 11
