Placement In Service definition
Placement In Service have the meanings given to such terms for purposes of the Federal Investment Tax Credit.
Placement In Service means that the all or identifiable portions of the building is placed in a condition or state of readiness and availability for a specifically assigned function.
Placement In Service means with respect to the Rehabilitation the occurrence of the events necessary to establish placement in service thereof for purposes of Section 1.48-12(f)(2) of the Treasury Regulations.
Examples of Placement In Service in a sentence
If the Managing Member is removed as Managing Member prior to Placement In Service as aforesaid, it shall not be entitled to payment of any further installments of any fees which otherwise would have been due and payable under various Sections of this Article VIII.
If the Placement In Service of any Building is later than December 31, 202[X] and such delay results in the Company not being able to take bonus depreciation deductions available pursuant to Section 168(k) of the Code in the amount reflected on the Project Forecast, then the Capital Contribution obligation of the ILP will be recalculated and reduced by $[ ], which amount will offset the loss in yield due to the inability to take bonus depreciation deductions on such Building(s).
More Definitions of Placement In Service
Placement In Service means, with respect to a Facility, the date it is placed in service for purposes of Section 48 of the Code.
Placement In Service means the placement in service of all dwelling units in the Project for purposes of Section 42 of the Code. Placement In Service Date means the date as identified in the Schedule.
Placement In Service means, unless otherwise agreed to in writing by the Members, the receipt of all required licenses and permits relating to the Project (or portion thereof), the completion of any critical tests relating to the safety and functionality of the Project (or portion thereof), the commencement of daily or regular operations, and the synchronization of the Project (or portion thereof) into a power grid for generating electricity to produce income, all consistent with the Internal Revenue Service’s published guidance interpreting the terms “placement in service” and “placed in service” for purposes of Section 48 of the Code.
Placement In Service shall have occurred under Section 5.2.2 of the Development Agreement, and a final certificate of occupancy for the entire Project (the "CO") shall have been issued.
Placement In Service means placed in service for purposes of Section 42 of the Code.
Placement In Service means placement in service as defined for purposes of determining qualified basis and Tax Credits under Section 42 of the Code.