Applicable Property definition

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Applicable Property shall have the meaning provided in Section 9.01.

Applicable Property means any Real Property owned or leased by the Borrower or any of its Subsidiaries which, in the good faith determination of the Borrower’s Board of Directors, and subject to the prior written consent of the Administrative Agent, is determined to be (i) not a Real Property on which the Administrative Agent wishes to acquire or retain a Mortgage, (ii) not needed for the conduct of the Permitted Business of the Borrower and its Subsidiaries, and (iii) more beneficially used by the Borrower or any such Subsidiary if contributed in kind by the Borrower or such Subsidiary to an Applicable Property Entity.

Examples of Applicable Property in a sentence

• The Seller hereby acknowledges and agrees that the Purchaser shall have the right to assign this Agreement with respect to each Property to the Applicable Property Transferee as may be necessary in order to effectuate the intent of this Section 4.1.

• With respect to the actual acquisition and fee simple ownership of each Property, each Property will be acquired and owned at the Closing by the Applicable Property Transferee.

• Each Plan that is intended to qualify under Section 401(a) of the Code is so qualified to the extent that failure of such Plan to qualify would not reasonably be expected to have a material adverse effect on such Seller or the operations of its Applicable Property.

• In the event Chugach sells any Applicable Property, the transferee shall not be assessed a property tax on the same Applicable Property for the same year.

• Seller shall have completed the transfer and assignment of all of the Permits to the Applicable Property Transferee and/or the Tenant and/or Manager of each Property, to the extent the same may be or are required to be effectuated at or prior to the Closing under applicable and governing laws, rules and regulations.

More Definitions of Applicable Property

Applicable Property means any item which is—

Applicable Property any Real Estate owned or leased by the U.S. Borrower or any U.S. Domiciled Loan Party which, in the good faith determination of the U.S. Borrower’s Board of Directors, and subject to the prior written consent of the Agent, is determined to be (i) not Real Estate on which the Agent wishes to acquire or retain a Mortgage, (ii) not needed for the conduct of the Permitted Business of the U.S. Borrower and its Subsidiaries, and (iii) more beneficially used by the U.S. Borrower or such U.S. Domiciled Loan Party if contributed in kind by the U.S. Borrower or such U.S. Domiciled Loan Party to an Applicable Property Entity.

Applicable Property means the fee-owned real property located at 5995 Mayfair Road, North Canton, OH 44720.

Applicable Property means charitable deduction property, as defined in Section 6050L(a)(2)(A) of the Internal Revenue Code, that is tangible personal property, the use of which is identified by the donee as related to the purpose or function constituting the basis of the donee’s exemption under Section 501 of the Internal Revenue Code or Section 23701, and for which a deduction in excess of the donor’s basis is allowed.

Applicable Property means the Property encumbered by the ------------------- Applicable Mortgage.

Applicable Property means property subject to PILT Payments. “Asset Purchase Agreement” has the meaning set forth in the recitals. “Calculation Spreadsheet” has the meaning set forth in Section 2.05. "Chugach's Accountants" means KPMG LLP or its successor.

Applicable Property. – means any property (wherever situated) derived, obtained or realized, directly or indirectly from the commission of a terrorism offence or that has been used, in whole or in part, to facilitate or carry out a terrorism offence, whether in the hands of the offender or the recipient of a tainted gift. Specific rules have been set out to allow for identification of applicable property106-