Bankruptcy Tax Liens definition

Bankruptcy Tax Liens. As of any given date of determination, Tax Liens with respect to which the related Property Owners are Bankrupt.
Sample 1Sample 2Sample 3
Bankruptcy Tax Liens. The Tax Liens, including but not limited to the identified Bankruptcy Tax Liens listed in Schedule C hereto, with respect to which the related Property Owners were, as of the Sale Date, Bankrupt. There shall not be imposed or collected in connection with any Bankruptcy Tax Lien any penalty amounts, including, but not limited to, the 5% surcharge and any interest rate increases described in Section 11-332 of the Enabling Act.
Sample 1Sample 2Sample 3
Bankruptcy Tax Liens means any Tax Lien(s) in Schedule B which purportedly secure taxes on property that is part of the estate of a debtor in voluntary or involuntary bankruptcy proceedings as of the Closing Date, whether or not such Tax Lien(s) are void or voidable under applicable laws.
Sample 1Sample 2

Examples of Bankruptcy Tax Liens in a sentence

  • The Servicer shall comply with Rule 3001(e) of the Federal Rules of Bankruptcy Procedure with respect to the Bankruptcy Tax Liens.

  • Code and (iii) any act to enforce or collect the Bankruptcy Tax Liens by act of foreclosure or other legal means (including but not limited to the sending of letters other than those required by statute) without first obtaining appropriate judicial relief; provided, however, that the Servicer may send each Property Owner a so-called “hello letter” in which the Servicer identifies itself as the servicer of the Tax Liens.

  • Limitation of Liability of Trustee and Seller 16 SCHEDULES SCHEDULE A Schedule A Tax Liens SCHEDULE B Schedule B Tax Liens SCHEDULE C Bankruptcy Tax Liens SCHEDULE D Form of Tax Lien Purchase Agreement for Schedule B Tax Liens PURCHASE AND SALE AGREEMENT, dated as of August 2, 2019 (this “Agreement”) between NYCTL 1998-2 TRUST, a Delaware statutory trust (the “Trust”), and THE CITY OF NEW YORK (the “City” or the “Seller”).

  • Additionally, any time period which commences upon the sale of the Bankruptcy Tax Liens shall be tolled during the time the related property owner is in bankruptcy.

  • Limitation of Liability of Trustee and Seller 17 SCHEDULES SCHEDULE A Schedule A Tax Liens SCHEDULE B Schedule B Tax Liens SCHEDULE C Bankruptcy Tax Liens SCHEDULE D Form of Tax Lien Purchase Agreement for Schedule B Tax Liens PURCHASE AND SALE AGREEMENT, dated as of December 17, 2021 (this “Agreement”) between NYCTL 1998-2 TRUST, a Delaware statutory trust (the “Trust”), and THE CITY OF NEW YORK (the “City” or the “Seller”).

  • Limitation of Liability of Trustee and Seller 16 SCHEDULES SCHEDULE A Schedule A Tax Liens SCHEDULE B Schedule B Tax Liens SCHEDULE C Bankruptcy Tax Liens SCHEDULE D Form of Tax Lien Purchase Agreement for Schedule B Tax Liens PURCHASE AND SALE AGREEMENT, dated as of May 18, 2018 (this “Agreement”) between NYCTL 1998-2 TRUST, a Delaware statutory trust (the “Trust”), and THE CITY OF NEW YORK (the “City” or the “Seller”).

  • Limitation of Liability of Trustee and Seller 16 SCHEDULES SCHEDULE A Schedule A Tax Liens SCHEDULE B Schedule B Tax Liens SCHEDULE C Bankruptcy Tax Liens SCHEDULE D Form of Tax Lien Purchase Agreement for Schedule B Tax Liens PURCHASE AND SALE AGREEMENT, dated as of May 12, 2017 (this “Agreement”) between NYCTL 1998-2 TRUST, a Delaware statutory trust (the “Trust”), and THE CITY OF NEW YORK (the “City” or the “Seller”).

Related to Bankruptcy Tax Liens

  • Bankruptcy Proceedings has the meaning set forth in clause (b) of paragraph 9 hereof.

  • Bankruptcy Proceeding means any case, action or proceeding before any court or other Governmental Authority relating to any Bankruptcy Event.

  • Insolvency Proceedings means, with respect to any Person, any case or proceeding with respect to such Person under U.S. federal bankruptcy laws or any other state, federal or foreign bankruptcy, insolvency, reorganization, liquidation, receivership or other similar laws, or the appointment, whether at common law, in equity or otherwise, of any trustee, custodian, receiver, liquidator or the like for all or any material portion of the property of such Person.

  • Bankruptcy Laws has the meaning specified in Section 10.9.

  • Bankruptcy Losses With respect to the Mortgage Loans in the related Mortgage Pool, losses that are incurred as a result of Deficient Valuations and any reduction, in a bankruptcy proceeding, of the amount of the Scheduled Payment on a Mortgage Loan other than as a result of a Deficient Valuation.

  • Bankruptcy Loss With respect to any Mortgage Loan, a Deficient Valuation or Debt Service Reduction; provided, however, that a Bankruptcy Loss shall not be deemed a Bankruptcy Loss hereunder so long as the Master Servicer has notified the Trustee in writing that the Master Servicer is diligently pursuing any remedies that may exist in connection with the related Mortgage Loan and either (A) the related Mortgage Loan is not in default with regard to payments due thereunder or (B) delinquent payments of principal and interest under the related Mortgage Loan and any related escrow payments in respect of such Mortgage Loan are being advanced on a current basis by the Master Servicer, in either case without giving effect to any Debt Service Reduction or Deficient Valuation.

  • Insolvency Proceeding means any proceeding commenced by or against any Person under any provision of the Bankruptcy Code or under any other state or federal bankruptcy or insolvency law, assignments for the benefit of creditors, formal or informal moratoria, compositions, extensions generally with creditors, or proceedings seeking reorganization, arrangement, or other similar relief.

  • Insolvency or Liquidation Proceeding means, with respect to any Person, any liquidation, dissolution or winding up of such Person, or any bankruptcy, reorganization, insolvency, receivership or similar proceeding with respect to such Person, whether voluntary or involuntary.

  • Bankruptcy Code means Title 11 of the United States Code.

  • Insolvency Filing means that the Share Company (as defined in §4a of the Terms and Conditions) institutes or has instituted against it by a regulator, supervisor or any similar official with primary insolvency, rehabilitative or regulatory jurisdiction over it in the jurisdiction of its incorporation or organisation or the jurisdiction of its head or home office, or it consents to a proceeding seeking a judgment of insolvency or bankruptcy or any other relief under any bankruptcy or insolvency law or other similar law affecting creditors’ rights (including a moratorium or a similar proceeding), or a petition is presented for its winding-up or liquidation by it or such regulator, supervisor or similar official or it consents to such a petition, provided that proceedings instituted or petitions presented by creditors and not consented to by the Share Company shall not be deemed an Insolvency Filing.

  • Tax lien means the lien of any tax bill as defined in this section;

  • Insolvency Laws The Bankruptcy Code and all other applicable liquidation, conservatorship, bankruptcy, moratorium, rearrangement, receivership, insolvency, reorganization, suspension of payments, or similar debtor relief laws from time to time in effect affecting the rights of creditors generally.

  • Bankruptcy Law means Title 11, U.S. Code or any similar federal or state law for the relief of debtors.

  • Priority Non-Tax Claims means any Claim, other than an Administrative Claim or a Priority Tax Claim, entitled to priority in right of payment under section 507(a) of the Bankruptcy Code.

  • U.S. Bankruptcy Code means Title 11 of the United States Code, as amended, or any similar federal or state law for the relief of debtors.

  • Bankruptcy Amount As of any date of determination prior to the first anniversary of the Cut-off Date, an amount equal to the excess, if any, of (A) $100,000 over (B) the aggregate amount of Bankruptcy Losses allocated solely to one or more specific Classes of Certificates in accordance with Section 4.05

  • Bankruptcy means, with respect to any Person, if such Person (i) makes an assignment for the benefit of creditors, (ii) files a voluntary petition in bankruptcy, (iii) is adjudged a bankrupt or insolvent, or has entered against it an order for relief, in any bankruptcy or insolvency proceedings, (iv) files a petition or answer seeking for itself any reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, (v) files an answer or other pleading admitting or failing to contest the material allegations of a petition filed against it in any proceeding of this nature, (vi) seeks, consents to or acquiesces in the appointment of a trustee, receiver or liquidator of the Person or of all or any substantial part of its properties, or (vii) if 120 days after the commencement of any proceeding against the Person seeking reorganization, arrangement, composition, readjustment, liquidation or similar relief under any statute, law or regulation, if the proceeding has not been dismissed, or if within 90 days after the appointment without such Person’s consent or acquiescence of a trustee, receiver or liquidator of such Person or of all or any substantial part of its properties, the appointment is not vacated or stayed, or within 90 days after the expiration of any such stay, the appointment is not vacated. The foregoing definition of “Bankruptcy” is intended to replace and shall supersede and replace the definition of “Bankruptcy” set forth in Sections 18-101(1) and 18-304 of the Act.

  • Priority Tax Claims means Claims of governmental units of the kind specified in section 507(a)(8) of the Bankruptcy Code.

  • Delinquency proceeding means a proceeding instituted against an insurer for the purpose of liquidating, rehabilitating, reorganizing or conserving the insurer, and a summary proceeding under section 507C.9 or 507C.10. “Formal delinquency proceeding” means any liquidation or rehabilitation proceeding.

  • Bankruptcy Loss Amount As of any Distribution Date prior to the first anniversary of the Cut-Off Date, the Bankruptcy Loss Amount will equal $100,000.00 minus the aggregate amount of Bankruptcy Losses allocated solely to the Class B Certificates in accordance with Section 4.02

  • Bankruptcy or Default means the total cessation of operations due to insolvency, with or without the filing of a bankruptcy petition by an airline, or cruise line, tour operator or other travel provider provided the Bankruptcy or Default occurs more than 14 days following Your Effective Date for the Trip Cancellation Benefits. There is no coverage for the Bankruptcy or Default of any person, organization, agency or firm from whom You purchased Travel Arrangements supplied by others.

  • Bankruptcy Exceptions means limitations on, or exceptions to, the enforceability of an agreement against a Person due to applicable bankruptcy, insolvency, reorganization, moratorium or similar laws affecting the enforcement of creditors’ rights generally or the application of general equitable principles, regardless of whether such enforceability is considered in a proceeding at law or in equity.

  • Petition means a written request to the court for an order after notice.

  • Bankruptcy Event means, with respect to any Person, such Person becomes the subject of a bankruptcy or insolvency proceeding, or has had a receiver, conservator, trustee, administrator, custodian, assignee for the benefit of creditors or similar Person charged with the reorganization or liquidation of its business appointed for it, or, in the good faith determination of the Administrative Agent, has taken any action in furtherance of, or indicating its consent to, approval of, or acquiescence in, any such proceeding or appointment, provided that a Bankruptcy Event shall not result solely by virtue of any ownership interest, or the acquisition of any ownership interest, in such Person by a Governmental Authority or instrumentality thereof, provided, further, that such ownership interest does not result in or provide such Person with immunity from the jurisdiction of courts within the United States or from the enforcement of judgments or writs of attachment on its assets or permit such Person (or such Governmental Authority or instrumentality) to reject, repudiate, disavow or disaffirm any contracts or agreements made by such Person.

  • Insolvency Action With respect to any Person, the taking by such Person of any action resulting in an Insolvency Event, other than solely under clause (g) of the definition thereof.

  • winding-up proceedings means collective proceedings involving realisation of the assets and distribution of the proceeds among the creditors, shareholders or members as appropriate, which involve any intervention by administrative or judicial authorities, including where the collective proceedings are terminated by a composition or other analogous measure, whether or not they are founded on insolvency or are voluntary or compulsory;