HTC Recapture Period definition

HTC Recapture Period means the time period commencing on the Commencement Date and ending upon December 31st of the year in which the fifth anniversary of the date on which the last QREs with respect to the Property are placed in service occurs, or any longer time period during which Historic Tax Credits attributable to the Property are subject to recapture pursuant to the Code.
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Examples of HTC Recapture Period in a sentence

  • For purposes of this Agreement, the term "HTC Recapture Period" has the meaning set forth in the Master Lease between the Company and Elks Lodge Master Tenant LLC (the "Master Lease").

  • During the HTC Recapture Period, Lender shall not effect a transfer by foreclosure or deed or assignment in lieu of foreclosure, or otherwise to any Disqualified Transferee, and any transfer by foreclosure or deed or assignment in lieu of foreclosure, or otherwise shall be in accordance with the Mortgage SNDA.

  • During the HTC Recapture Period, no Transfers will be permitted under this Section 8.2 or Section 8.3 except for Transfers described in Section 8.2.2(ii), Section 8.2.3(i), and Section 8.2.3(iv).

  • All Repairs made by the Tenant shall be at least equal in quality and cost to the original improvements and during the HTC Recapture Period attributable to the Historic Tax Credits be consistent with the Secretary’s Standards and shall be made by the Tenant in accordance with all Legal Requirements.

  • The change in control of a Member prior to the expiration of the HTC Recapture Period shall be considered a Transfer.

  • During the HTC Recapture Period, the Tenant shall not enter into any sublease that is a disqualified lease (as defined in Section 168 (h)(1)(B) of the Code), with any “tax-exempt entity” as that term is defined in Section 168(h) of the Code, including the United States, any state or political subdivision thereof, or any agency or instrumentality of any of the foregoing; any organization exempt from federal income tax; and any foreign person or entity.

  • A change in any trustee or fiduciary of a Member, or (after the HTC Recapture Period only) the change in control of a Member, shall not be considered to be a Transfer for purposes of this Section 8, provided that written notice of such change is given to the Manager within a reasonable time after the effective date thereof.

  • During the HTC Recapture Period, except for granting Mortgages in accordance with the terms of this Master Lease and Tenant’s Operating Agreement, and Project Company Agreement, the Landlord shall not transfer all or any portion of its interest in the Property without the prior written consent of the Tenant and ▇▇▇▇▇▇▇-▇▇▇▇▇▇▇▇.