Placed in Service definition

Placed in Service means: 1) for a new or existing building used as residential rental property, the date on which the building is ready and available for its specifically assigned function (i.e. the date on which the first Unit in the building is certified as being suitable for occupancy in accordance with state or local law); and 2) with respect to rehabilitation expenditures that are treated as a separate new building, those buildings are placed in service at the close of any twenty-four (24) month period over which the expenditures are aggregated.

Placed in Service means the earlier of (i) when the Project is in a state or condition of readiness and availability for specifically assigned functions or (ii) the last day of the second full Taxable Year after the Effective Date.

Placed in Service means the date on which, based on all facts and circumstances (a) a facility has reached a degree of completion that would permit its operation at substantially its design level and (b) the facility is, in fact, in operation at such level.

Examples of Placed in Service in a sentence

• The Project shall be Placed in Service by the Company, and the requirements of Sections IV.B through IV.D shall be met, by the Benchmark Date.

• This Agreement shall commence upon the Effective Date and shall continue in effect until terminated in accordance with Section III.B, provided that the total number of Taxable Years under this Agreement shall not exceed fifteen (15) years from the date the Project is Placed in Service.

• The Company would not have Placed in Service the Capital Improvements and created or retained the requisite number of New Employees and Retained Employees without the benefits of the Credit.

• The Company shall maintain operations at the Project for a minimum of fifteen (15) years beginning on the date the Project is Placed in Service.

More Definitions of Placed in Service

Placed in Service means the date on which a Qualified Building is suitable and available for occupancy as determined in accordance with Section 42 of the Code.

Placed in Service means the date on which the first Unit of a new construction Project is certified or otherwise officially declared as available for occupancy. For acquisitions of existing Projects, it is the date of transfer to a new Project Owner.

Placed in Service means having been sold or leased to an end-user and not to a dealer or other distribution chain entity, and having been individually registered for on-road use by the Delaware Division of Motor Vehicles.

Placed in Service means the same as used in Section 47 of the Internal Revenue Code.

Placed in Service means that date (as determined by the Bond Compliance Officer) when the Project Facility is substantially complete and in operation at substantially its design level.

Placed in Service means the earliest of the following taxable years:

Placed in Service means installed, operational, and producing output.