Transfer to Company. The Managing Member may transfer Membership Interests held by it to the Company in accordance with Section 7.5(b) hereof.
Transfer to Company. The provisions of Section 2.01 shall not apply to any Transfer by any Stockholder pursuant to a merger, consolidation or other business combination of the Company that has been approved by the Company’s board of directors.
Transfer to Company. In the event the Agency no longer has a leasehold interest in the Project Facility, the Project Facility shall be immediately subject to taxation pursuant to Section 302 and Section 520 of the Real Property Tax Law, as amended. However, in no event shall the Company be required to pay both payments in lieu of taxes and real property taxes for a concurrent tax year or any portion thereof. Therefore, should the Agency’s interest in the Project Facility be conveyed to the Company and thus become taxable pursuant to Real Property Tax Law Section 520, the Taxing Entities agree that any payments payable under this Agreement as payments in lieu of taxes shall be reduced by the amount of any taxes which are required to be paid under Real Property Tax Law Section 520 for any such concurrent tax year or any portion thereof, and should such payments in lieu of taxes already have been made, the Taxing Entities shall refund any such amounts owing to the Company.
Transfer to Company. In the event the Agency no longer has a leasehold interest in the Project Facility, the Project Facility shall be immediately subject to taxation pursuant to Section 302 and Section 520 of the Real Property Tax Law, as amended. However, with the exception of the calendar year 2024, in no event shall the Real Estate Holding Company be required to pay both payments in lieu of taxes and real property taxes for a concurrent tax year or any portion thereof. Therefore, should the Company Project Facility be conveyed to the Real Estate Holding Company and thus become taxable pursuant to Real Property Tax Law Section 520, the Taxing Entities agree that any payments payable under this Agreement as payments in lieu of taxes shall be reduced by the amount of any taxes which are required to be paid under Real Property Tax Law Section 520 for any such concurrent tax year or any portion thereof, and should such payments in lieu of taxes already have been made, the Taxing Entities shall refund any such amounts owing to the Real Estate Holding Company.
Transfer to Company. No later than fifteen (15) Business Days after the Stated Maturity Date (or termination of the Indenture (other than any contingent indemnification obligations), if earlier in which case the Company and Trustee shall deliver joint written instructions to Escrow Agent with regard to such termination or contingent indemnification obligation), any remaining Escrow Funds shall be released to the Company in full to an account designated in writing by the Company. All disbursements of funds from the Escrow Funds shall be subject to the fees and claims of the Escrow Agent and the Indemnified Parties (as defined below) pursuant to Section 10 and Section 12 below.
Transfer to Company. The Agency has simultaneously with the transfer of the Land referred to in Section 3.1 of this Agreement, transferred the Project to the Company pursuant to and subject to the Agency’s interest in and rights under the Agency Lease.
Transfer to Company
