Qualified Costs of the Project definition

Qualified Costs of the Project means the actual costs incurred to acquire, construct and equip the Project which (a) are incurred not more than 60 days prior to February 12, 2020, being the date on which the Issuer first declared its “official intent” (within the meaning of Treasury Regulations Section 1.150-2) with respect to the Project (other than preliminary expenditures with respect to the Project in an amount not exceeding 20% of the aggregate principal amount of the Bond), (b) are (i) chargeable to the Project’s capital account or would be so chargeable either with a proper election by the Borrower or but for a proper election by the Borrower to deduct such costs, within the meaning of Treasury Regulation Section 1.103 8(a)(1), and if charged or chargeable to the Project’s capital account are or would have been deducted only through an allowance for depreciation or (ii) made for the acquisition of land, to the extent allowed in Section 147(c) of the Code and (c) are made exclusively with respect to “qualified residential rental project” within the meaning of Section 142(d) of the Code; provided, however, that (A) Costs of Issuance shall not be deemed to be Qualified Costs of the Project; (B) fees, charges or profits payable to the Borrower or a “related person” (within the meaning of Section 147 of the Code) shall not be deemed to be Qualified Costs of the Project; (C) interest during the construction of the Project shall be allocated between Qualified Costs of the Project and other costs and expenses of the Project; (D) interest following the construction of the Project shall not constitute Qualified Costs of the Project;(E) letter of credit fees and municipal bond insurance premiums which represent a transfer of credit risk shall be allocated between Qualified Costs of the Project and other costs and expenses to be paid from the proceeds of the Bond; and (F) letter of credit fees and municipal bond insurance premiums which do not represent a transfer of credit risk (including, without limitation, letter of credit fees payable to a “related person” to the Borrower) shall not constitute Qualified Costs of the Project. As used herein, the term “preliminary expenditures” includes architectural, engineering, surveying, soil testing and similar costs that were incurred prior to commencement of acquisition, construction or rehabilitation of the Project, but does not include land acquisition, site preparation or similar costs incident to commencement of construction or rehabilitation o...
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Qualified Costs of the Project means “Good Costs” as defined in the Tax Certificate. “Rebate Analyst” means any Person, chosen by the Borrower and at the expense of the Borrower, qualified and experienced in the calculation of rebate payments under Section 148 of the Code and compliance with the arbitrage rebate regulations promulgated under the Code, which is engaged for the purpose of determining the amount of required deposits to the Rebate Fund, if any, pursuant to the Tax Certificate.
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Qualified Costs of the Project means, with respect to costs financed with proceeds of the Series 2003 A Bond, (i) those costs which (a) are incurred after the date on which the preliminary resolution was adopted by the Authority for the acquisition, construction or improvement of either land or property subject to the allowance for depreciation provided by Section 167 of the Code within the meaning of Treas. Reg. 1.103-10(b)(1)(ii) and (b) may, by a proper election under the Code (or may, but for a proper election under the Code to deduct such item), be capitalized for federal income tax purposes on the books of the Borrower, and (ii) costs of issuance of the Series 2003 A Bond, attorneys' fees, printing costs, Authority's fees, letter of credit fees, agents' fees and other similar expenses; provided, that, any expenditure of Series 2003 A Bond proceeds that, when added to all previous expenditures of Series 2003 A Bond proceeds for the payment of costs in (ii) above, would cause the total amount of such costs to exceed 2% of the issue price of the Series 2003 A Bond (within the meaning of Treasury Regulation Section 1.148-1(b) (not including pre-issuance accrued interest on the Series 2003 A Bond), shall not be considered a Qualified Cost of the Project for purposes of this definition.
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Examples of Qualified Costs of the Project in a sentence

  • The Trustee shall make payments from the Loan Account for the purpose of paying the Qualified Costs of the Project.

  • On PAC/500/Teply/2 it states that this case is about ―5 of the 19 coal fueled generating units the Company operates.‖ On PAC/500/Teply/4 it discusses ―26 units‖ that the Company owns or has a partial share.

  • Parking lots, walks, and playground blacktop areas shall be reasonably cleared of all ice, snow, debris, and gravel so they will not be physically hazardous to teachers or pupils.

  • The Trustee shall make payments from the Equity Account to pay (A) all costs of acquisition, construction, and equipping of the Project other than Qualified Costs of the Project and (B) to the extent amounts on deposit in the Loan Account are insufficient for such purposes, all Qualified Costs of the Project.

  • Equally, it should not be necessary to find that the government expressly entrusted or directed such an entity to provide a subsidy.

  • The HRA agrees to reimburse the Developer,using Available Tax Increment on a pay-as-you-go basis, for Qualified Costs of the Project.

  • After the Conversion Date, amounts held in the Capitalized Interest Account shall be applied to pay Qualified Costs of the Project, transferred to the Revenue Fund for application to the payment of amounts due in respect to the Bond, or, as further provided in Section 5.03 hereof, released to the Borrower, in each case upon the written direction of the Servicer to the Trustee (a copy of which shall be provided to the Borrower).

  • At least 95% of the net proceeds of the Bond (within the meaning of the Code) actually expended shall be used to pay Qualified Costs of the Project that are costs of a “qualified residential rental project” (within the meaning of Sections 142(a)(7) and 142(d) of the Code) and property that is “functionally related and subordinate” thereto (within the meaning of Sections 1.103-8(a)(3) and 1.103-8(b)(4)(iii) of the Regulations).

  • The Bondowner Representative shall make payments from the Equity Account to pay (A) all costs of constructing and equipping the Project other than Qualified Costs of the Project and (B) to the extent amounts on deposit in the Loan Account are insufficient for such purposes, all Qualified Costs of the Project.

  • At least 95% of the net proceeds of the Bond (within the meaning of the Code) actually expended shall be used to pay Qualified Costs of the Project that are costs of a “qualified residential rental project” (within the meaning of Sections 142(a)(7) and 142(d) of the Code) and property that is “functionally related andsubordinate” thereto (within the meaning of Sections 1.103-8(a)(3) and 1.103-8(b)(4)(iii) of the Regulations).

Related to Qualified Costs of the Project

  • Costs of the Project means Recipient’s actual costs (including any financing costs properly allocable to the Project) that are (a) reasonable, necessary and directly related to the Project, (b) permitted by generally accepted accounting principles to be Costs of the Project, and (c) are eligible or permitted uses of the Financing Proceeds under applicable state or federal statute and rule.

  • Qualified Costs means an electric utility's regulatory assets as determined by the commission, adjusted by the applicable portion of related investment tax credits, plus any costs that the commission determines that the electric utility would be unlikely to collect in a competitive market, including, but not limited to, retail open access implementation costs and the costs of a commission approved restructuring, buyout or buy-down of a power purchase contract, together with the costs of issuing, supporting, and servicing securitization bonds and any costs of retiring and refunding the electric utility's existing debt and equity securities in connection with the issuance of securitization bonds. Qualified costs include taxes related to the recovery of securitization charges.

  • Project Costs means all allowable costs, as set forth in the applicable Federal cost principles, incurred by a recipient and the value of the contribu- tions made by third parties in accom- plishing the objectives of the award during the project period.

  • Qualified Project Costs shall have the meaning given to it in the Regulatory Agreement.

  • Eligible Project Costs means such portion of the Project costs disbursed and loaned from the OPWC to the Recipient for the sole and express purpose of acquiring, constructing, reconstructing, expanding, improving, engineering and equipping the Project, other direct expenses, and related financing costs thereto.

  • Direct Costs means the sum of the following:

  • Cost of the Project means and embraces the cost of construction; the cost of all

  • Approved costs means the eligible costs or expenditures2 as approved by the Provider, and as defined in the Agreement or Decision on Grant Funding to carry out the Grant Project.

  • Construction Costs means land costs, all costs paid to construct and complete the Improvements, as specified on Exhibit "B" attached hereto and made a part hereof.

  • Replacement Costs means the expenditures for obtaining and installing equipment, accessories or appurtenances which are necessary during the useful life of the treatment works to maintain the capacity and performance for which such works were designed and constructed.

  • Soft Costs means the costs of professional work and fees, interim costs, financing fees and expenses, syndication costs, soft costs and Developer’s fees as shown in the Applicant’s properly completed UniApp, Section C - Uses of Funds. Soft Costs do not include operating or replacement reserves.

  • Reasonable Additional Expenses means expenses for meals, taxi fares, essential telephone calls, local transportation, and lodging which are necessarily incurred as the result of Trip Delay and which are not provided by the Common Carrier or any other party free of charge.

  • Fixed Costs means costs which do not vary with consumption or volume produced;

  • Routine Patient Costs means all health care services that are otherwise covered under the Group Contract for the treatment of cancer or other Life-threatening Condition that is typically covered for a patient who is not enrolled in an Approved Clinical Trial.

  • Administrative Costs means all costs and expenses associated with providing notice of the Settlement to the Settlement Class and administering and carrying out the terms of the Settlement.

  • Cleanup costs means expenses (including but not limited to legal and professional fees) incurred in testing for, monitoring, cleaning up, removing, containing, treating, neutralizing, detoxifying or assessing the effects of Pollutants.

  • Financing Costs means for each calendar day the product of:

  • Operational Expenses means expenses of the clerk of court used to maintain the clerk’s office and includes, but is not limited to, (i) computer support, maintenance, enhancements, upgrades, and replace- ments and office automation and information technol- ogy equipment, including software and conversion services; (ii) preserving, maintaining, and enhancing court records, including, but not limited to, the costs of repairs, maintenance, consulting services, service contracts, redaction of social security numbers from certain records, and system replacements or upgrades; and (iii) improving public access to records maintained by the clerk, including locating technology in an offsite facility for such purposes or for implementation of a disaster recovery plan.

  • Utility Costs means utility and home energy costs related to the occupancy of rental property (e.g. electricity, gas, water and sewer, trash removal, and energy costs (such as fuel oil)) that are separately-stated charges. Utility Costs do not include telecommunication services (e.g. telephone, cable, and internet services).

  • Total Project Costs means the total amount of money required to complete the Project.

  • Improvement Costs means any additional expenditure on a fixed asset that materially increases the capacity of the asset or materially improves its functioning or represents more than 10% of the initial depreciation base of the asset;

  • Collection Costs means an amount that the Municipality can charge with regard to the enforcement of a consumer’s monetary obligations;

  • Costs of Collection Includes, without limitation, all reasonable attorneys’ fees and reasonable out-of-pocket expenses incurred by any Agent’s attorneys, and all reasonable out-of-pocket costs incurred by any Agent in the administration of the Liabilities and/or the Loan Documents, including, without limitation, reasonable costs and expenses associated with travel on behalf of any Agent, where such costs and expenses are directly or indirectly related to or in respect of any Agent’s: administration and management of the Liabilities; negotiation, documentation, and amendment of any Loan Document; or efforts to preserve, protect, collect, or enforce the Collateral, the Liabilities, and/or the Agents’ Rights and Remedies and/or any of the rights and remedies of any Agent against or in respect of any guarantor or other person liable in respect of the Liabilities (whether or not suit is instituted in connection with such efforts). “Costs of Collection” also includes the reasonable fees and expenses of Lenders’ Special Counsel. The Costs of Collection are Liabilities, and at the Administrative Agent’s option may bear interest at the then effective Base Margin Rate.

  • Development Costs means costs incurred to obtain access to reserves and to provide facilities for extracting, treating, gathering and storing the oil and gas from reserves. More specifically, development costs, including applicable operating costs of support equipment and facilities and other costs of development activities, are costs incurred to:

  • Indirect Costs has the same meaning as in 44 Ill. Admin. Code 7000.30.

  • Collateral costs as used in this clause, means agency cost of operation, maintenance, logistic support, or Government-furnished property.