Disqualified Entity shall have the meaning set forth in the Tax Equity Financing Documents.
Disqualified Entity means at any time during the Recapture Period, an entity that is referred to in Section 50(b)(3) or 50(b)(4) of the Code, provided, that if any indirect owner owns its indirect interest through a taxable C corporation (as defined in the Code), but excluding any entity that is a “tax exempt controlled entity” defined in Section 168(h)(6)(F)(iii) of the Code, then such Person will not be deemed to be a Disqualified Entity.
Disqualified Entity means any Person identified in writing by the Borrower to the Administrative Agent prior to the Closing Date.
Examples of Disqualified Entity in a sentence
Notwithstanding the foregoing, no Transfers shall be deemed to be a Prohibited Equity Transfer so long as Guarantor retains Control of each Restricted Party, the Minimum Equity Requirement remains satisfied following such Transfer and the transferee with respect to any such Transfer is not a Disqualified Entity.
Such Lender (other than any Original Lender) is a Permitted Transferee and, unless such Lender has obtained the consent of the Borrower with respect to the acquisition of its Notes, such Lender is not a Disqualified Entity.
A Change of Control of the Owner occurs where control is assumed by a Disqualified Entity and such change is not rectified by the Owner within thirty (30) days of notification from the Contractor requiring such rectification.
The Owner shall be entitled to grant any Security Interest over this Agreement and the Trains without the approval of the Contractor, provided that such Security Interest shall not be granted to a Disqualified Entity.
The Holders agree not to share any of the Company’s Information with any Disqualified Entity without the Company’s consent.
More Definitions of Disqualified Entity
Disqualified Entity means any person:
Disqualified Entity means, at any time prior to the date that is 5 years from the date when the last PV System owned by any Financing Fund was placed in service, an entity that is a “tax exempt entity” for purposes of Section 168(h) of the Code; provided that if any indirect owner of such entity owns its indirect interest through a taxable C Corporation (as defined in the Code), but excluding any entity that is a “tax exempt controlled entity” defined in Section 168(h)(6)(F)(iii) of the Code, then such person will not be deemed to be a Disqualified Entity. [***] = Certain confidential information contained in this document, marked by brackets, is filed with the Securities and Exchange Commission pursuant to Rule 406 of the Securities Act of 1933, as amended.
Disqualified Entity means, unless otherwise consented to by the Borrower, any entity (a) that is specified as a current lessor or an owner participant of a current lessor of the Borrower in a list to be provided by the Borrower and updated from time to time by the Borrower or by the Borrower at either Facility Agent’s written request as the Borrower may agree, or (b) in respect of the Senior Lenders only, that is a hedge fund.
Disqualified Entity means, unless otherwise consented to by the Borrower, any entity (a) that is specified as a current lessor or an owner participant of a current lessor of the Borrower in a list to be provided by the Borrower and updated from time to time by the Borrower or by the Borrower at either Facility Agent’s written request as the Borrower may agree, or (b) that is a hedge fund.
Disqualified Entity has the meaning set forth in Section 14.12.
Disqualified Entity means (a) any Governmental Entity, (b) any organization described in Section 501(c) of the Code and exempt from tax under Section 501(a) of the Code, unless the exception under Section 168(h)(1)(D) applies with respect to the organization’s distributive share of income from the Project Companies, or any tax-exempt controlled entity within the meaning of Section 168(h)(6)(F)(iii) of the Code if such entity has not made the election provided in Section 168(h)(6)(F)(ii) of the Code, (c) any Person who is not a “United States person” as defined in Section 7701(a)(30) of the Code (other than a foreign partnership or foreign pass-through entity), unless such Person is a foreign Person that is subject to United States federal income tax on more than fifty percent (50%) of the gross income for the taxable year derived by such Person from the Projects, (d) any entity described in Treasury Regulation Section 1.48-4(a)(1)(v) (e.g., a real estate investment trust, regulated investment company, certain domestic building and loan associations, a mutual savings or cooperative bank or a cooperative described in Section 1381(a) of the Code) and (e) any partnership or other pass-through or disregarded entity (including a single-member disregarded entity) or any direct or indirect partner (or other holder of an equity or profits interest) of a Person described in clauses (a) through (d) above.
Disqualified Entity means (a) the United States, any state or political subdivision thereof, any possession of the United States or any agency or instrumentality of any of the foregoing; (b) any organization which is exempt from tax imposed by the Code (including any former tax-exempt organization within the meaning of Section 168(h)(2)(E) of the Code); (c) any Person who is not a “United States person” (within the meaning of Section 7701(a)(30) of the Code; (d) any Indian tribal government described in Section 7701(a)(40) of the Code; (e) any “tax-exempt controlled entity” under Section 168(h)(6)(F) of the Code; and (f) any partnership or other pass-through entity (including a disregarded entity) a direct owner of which is described in clauses (a) – (e) or this clause (f) ; provided , that any such Person shall not be considered a Disqualified Entity to the extent that (i) the exception under Section 168(h)(1)(D) of the Code applies with respect to the income from the Company for that Person, (ii) the Person is described within clause (c) of this definition and the exception under Section 168(h)(2)(B)(i) of the Code applies with respect to the income from the Company for that Person, or (iii) such Person avoids being a “tax-exempt controlled entity” under Section 168(h)(6)(F) of the Code by making an election under Section 168(h)(6)(F)(ii) of the Code.