Treatment of Interest. For Federal and State tax purposes (i) interest shall accrue at the Accrual Rate, and (ii) payments made pursuant to section 2 shall first be treated as interest, up to the amount of interest so accrued, then shall be treated as principal, until Purchaser has received, as principal, the entire Principal Amount, and then shall be treated as interest.
Treatment of Interest. Any interest received by the Escrow Agent --------------------- ("Escrow Income") shall accrue to the Escrow Fund and remain in the Escrow Fund ------------- and shall be paid to AIM, on a monthly basis on the fifth business day of each month to the extent that Escrow Income has accrued and is available to be paid on the investments made by the Escrow Agent. Fees associated with the Escrow Income, including fees associated with the wiring of such Income, shall be deducted from such monthly payment.
Treatment of Interest. Any interest received by the Escrow Agent shall accrue to the Escrow Fund and remain in the Escrow Fund and shall be distributed pursuant to Section 5 below. The parties hereto agree that all payments made out of the Escrow Fund shall first be made out of the original Escrow Amount deposited in the Escrow Fund and, after such Escrow Amount has been distributed in full, then out of the interest accrued in the Escrow Account. Any party receiving payment of a portion of such interest shall be responsible for all tax obligations relating to such paid interest.
Treatment of Interest. At the time of any conversion, all interest accrued but unpaid to Lender through the date of conversion shall be due and payable to Lender on the date of conversion.
Treatment of Interest. Each Partner’s partnership interest in the Partnership shall constitute a “security” within the meaning of (i) Article 8 of the Uniform Commercial Code (including Section 8-102(a)(15) thereof) as in effect from time to time in the State of Delaware (6 Del. C. § 8-101, et seq.) and (ii) the Uniform Commercial Code of any other applicable jurisdiction that now or hereafter substantially includes the 1994 revisions to Article 8 thereof as adopted by the American Law Institute and the National Conference of Commissioners on Uniform State Laws and approved by the American Bar Association on February 14, 1995 (and each partner interest in the Partnership shall be treated as such a “security” for all such purpose, including, without limitation perfection of the security interest therein under Article 8 and 9 of the applicable Uniform Commercial Code as the Partnership has “opted-in” to such provisions). The Partnership shall maintain books for the purpose of registering the transfer of the partner interests in the Partnership and all pledges of a partner interest, a Unit Certificate (as hereinafter defined) and the rights represented thereby shall be recorded on Schedule E hereto, as amended from time to time. Notwithstanding any provision of this Agreement to the contrary, a transfer of partnership interests requires delivery of an endorsed Unit Certificate (if the applicable Units are certificated) and shall be effective upon registration of such transfer in the books of the Partnership. Notwithstanding any other provision of this Agreement to the contrary, to the extent that any provision of this Agreement is inconsistent with any no-waivable provision of Article 8 of the Uniform Commercial Code (including Section 8-102(a)(15) thereof) as in effect from time to time in the State of Delaware (6 Del. C. § 8-101, et seq.), such provision of Article 8 shall control.
Treatment of Interest. The parties intend that any interest in or with respect to the Notes under this Agreement be treated as being issued and maintained in “registered form” within the meaning of Sections 163(f), 871(h)(2), and 881(c)(2) of the Internal Revenue Code and any regulations thereunder (and any successor provisions), including under United States Treasury Regulations Section 5f.103-1(c) of Proposed Regulations Section 1.163-5 (and any successor provisions), and the provisions of this Agreement shall be construed in a manner that gives effect to such intent.
Treatment of Interest holders re- quired to include passive income under anti-xx- xxxxxx regime.
