Applicable Fraction means Applicable Fraction as defined in Section 42(c)(1)(B) of the IRC.
Applicable Fraction means as provided by I.R.C. § 42(c)(1)(B).
Applicable Fraction means the fraction, the numerator of which is the number of Tax Credit Units and the denominator of which is the total number of residential rental units less any unit exempted by Revenue Ruling 92-61; or the fraction, the numerator of which is the floor space of the Tax Credit Units and the denominator of which is the total floor space of the residential rental units less any unit exempted by Revenue Ruling 92-61, whichever is less. The Eligible Basis of a building is multiplied by the Applicable Fraction to determine the Qualified Basis of a building for Tax Credit purposes.
Examples of Applicable Fraction in a sentence
Applicable Fraction – The percentage of a building that is treated as low-income use and generally eligible for the LIHC.
Qualified Basis is the product of a project's Eligible Basis multiplied by the Applicable Fraction.
Notwithstanding any provision herein to the contrary, a Qualifying Substitute Mortgage Loan shall be deemed to have the same Applicable Fraction as that of the Deleted Mortgage Loan for which it was substituted.
The Qualified Basis is the portion of a project's Eligible Basis multiplied by the Applicable Fraction.
Employee units (whether or not included in the common area or removed from the Applicable Fraction for the building) shall be counted as sixty percent (60%) AMGI units for scoring purposes.
More Definitions of Applicable Fraction
Applicable Fraction means the fraction defined in Section 42(c)(1)(B) of the Code.
Applicable Fraction means the smaller of the Unit Fraction or the Floor Space Fraction, all calculated in accordance with Section 42(c)(1) of the Code.
Applicable Fraction. With respect to each Pool 1 Mortgage Loan and either of Collateral Group 1 or Collateral Group 2, the fraction set forth in Section 1.03, or such fraction multiplied by the Principal Balance of such Mortgage Loan, as the context requires.
Applicable Fraction means the fraction used to determine the qualified basis of a qualified low-income Building which is the smaller of the Unit Fraction or the Floor Space Fraction.
Applicable Fraction means a fraction, the numerator of which is the number of days elapsed from the Grant Date of an Award to the date of the Participant’s termination of Service and the denominator of which is the number of days between the Grant Date and the date the Award was scheduled to become exercisable or otherwise vest.
Applicable Fraction. For each Mortgage Loan and REMIC I-1, shall be calculated as follows: · For Collateral Group 1-P and each Group 1 Discount Loan: · For Collateral Group 1 and each Group 1 Discount Loan:
Applicable Fraction means, in relation to a Mortgaged Ship, a fraction having a numerator of an amount equal to the market value of such Mortgaged Ship (as most recently determined in accordance with clause 8.2.2) and a denominator of an amount equal to the aggregate market values of all of the Mortgaged Ships (as most recently determined in accordance with clause 8.2.2), in each case as at the Disposal Reduction Date of such Mortgaged Ship;