Depreciation Deductions definition

Depreciation Deductions shall have the meaning specified in Section 1(a) of the Tax Indemnity Agreement.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Depreciation Deductions means the cost recovery deductions under Section 167 of the Code with respect to any Leased Property, determined using the following assumptions: (a) Landlord’s unadjusted basis in such Leased Property shall be the purchase price paid by Landlord to Tenant for such Leased Property; (b) the Depreciable Property will be treated as a single integrated unit of “nonresidential real property” within the meaning of Section 168(b)(3)(A) of the Code; and (c) the cost basis of the Depreciable Property will be recovered using the straight-line depreciation method pursuant to Section 168(b)(3) of the Code, an applicable recovery period of 39 years pursuant to Section 168(c) of the Code, zero salvage value, and the mid-month convention pursuant to Section 168(d)(2)(A) of the Code.

Depreciation Deductions the meaning specified in Section 2(a).

Examples of Depreciation Deductions in a sentence

The amount of the Tax Indemnity Payment shall be computed using the same methodology and assumptions used in computing the Expected Net Return, including without limitation, that the Depreciation Deductions are Landlord’s only tax deductions with respect to this Lease, that Landlord is able to fully utilize the Depreciation Deductions and, in the case of Inclusions, is fully taxable on its net income at the maximum federal income tax rate then in effect for corporations.
The MACRS Deductions, State Depreciation Deductions and Interest Deductions are hereinafter collectively referred to as the "Tax Benefits".
Lessee acknowledges that Lessor intends to claim and take the depreciation deductions ("Depreciation Deductions") with respect to the Equipment in accordance with Section 168 of the Internal Revenue Code of 1986, as amended (the "Code").
If, because of a breach of this Section 4(a), Recovery Deductions or Depreciation Deductions are lost, reduced, deferred, recaptured or otherwise made unavailable to Lessor (a Tax Loss), Lessee shall, upon demand by Lessor, promptly pay damages to Lessor.
If, because of a breach of this Section 4(a), Recovery Deductions or Depreciation Deductions are lost, reduced, deferred, recaptured or otherwise made unavailable to Lessor (a “Tax Loss”), Lessee shall, upon demand by Lessor, promptly pay damages to Lessor.
Depreciation Deductions and Tax Credits........................54 Section 8.11.
If, because of a breach of this Section 3(a), Recovery Deductions or Depreciation Deductions are lost, reduced, deferred, recaptured or otherwise made unavailable to Lessor (a "Tax Loss"), Lessee shall, upon demand by Lessor, promptly pay damages to Lessor.
If, because of a breach of this Section 4(a), Recovery Deductions or Depreciation Deductions are lost, reduced, deferred, recaptured or otherwise made unavailable to Lessor (Tax Loss), Lessee shall, upon demand by Lessor, promptly pay damages to Lessor.
Each Lessee acknowledges that Lessor intends to claim and take the Depreciation Deductions.
It shall be conclusively presumed that Lessor shall have suffered a loss of State Tax Deductions at the State Rate in the event Lessor suffers a loss of Depreciation Deductions or Amortization Deductions.

More Definitions of Depreciation Deductions

Depreciation Deductions shall have the meaning assigned in the Tax Indemnification Agreement.

Depreciation Deductions the meaning specified in Section 2(a). "Facility Lessee" Reliant Energy Mid-Atlantic Power Holdings LLC, a Delaware limited liability company, its successors and permitted assigns. "Facility Lessee Actions" the meaning specified in Section 5.2(f). "Facility Lessee Person" the meaning specified in Section 4(d). "Facility Lessee Tax Representation" the representations, warranties and covenants set forth in Section 4. Conemaugh Tax Indemnity Agreement 2 226742.01-Chicago S2A

Depreciation Deductions means the depreciation deductions allowed by the Code with respect to the Property. "Default Loan" means the loan described in SECTION 4.5 made on behalf of a Noncontributing Member. "Gain from a Capital Transaction" means the gain recognized by the Company attributable to a Capital Transaction, determined in accordance with the method of accounting used by the Company for federal income tax purposes. In the event there is a revaluation of the Property and the Capital Accounts are adjusted pursuant to SECTION 4.8(C), Gain from a Capital Transaction shall be computed by reference to the "book items" and not the corresponding "tax items".

Depreciation Deductions. [Intentionally Deleted]