Qualified Use means the sale of electricity to retail customers located within the “electricity service area” of a municipal utility pursuant to generally applicable and uniformly applied rate schedules or tariffs; provided that: (a) “Qualified Use” shall not include any sale of electricity that gives rise to “private business use” or a “private loan” within the meaning of Section 141 of the Code; and (b) “Qualified Use” shall include such additional uses of electricity as may be approved by SEA (through UAMPS) with a favorable opinion of bond counsel. For purposes of this definition: (i) “electricity service area” has the meaning assigned to such term in U.S. Treasury Regulation Section 1.148-1(e)(2)(iii); and (ii) a “municipal utility” is a state or local government unit that owns and operates an electric distribution utility.

Qualified Use means the sale of electricity to retail customers located within the Participant’s electricity “service area” pursuant to generally applicable and uniformly applied rate schedules or tariffs; provided that:

Qualified Use means the property is used as a farm for farming purposes. In the case of real property which meets the requirements of (f)(i)(C) of this subsection, resi- dential buildings and related improvements on the real prop- erty occupied on a regular basis by the owner or lessee for the purpose of operating or maintaining the real property, and roads, buildings, and other structures and improvements functionally related to the qualified use shall be treated as real property devoted to the qualified use. For tangible personal property eligible for a deduction under subsection (1)(b) of this section, "qualified use" means the property is used pri- marily for farming purposes on a farm.

Examples of Qualified Use in a sentence

During the Measurement Period, the Issuer will not enter into or renew any lease or similar agreement or arrangement other than a Qualified Use Agreement without first obtaining an Opinion of Bond Counsel.
The Participant agrees in the Power Sales Contract that it will apply all of the electric power and energy acquired under the Power Sales Contract to a Qualified Use and that it will not take or omit to take any action which could adversely affect the Tax Status of any Bond or Bonds theretofore issued or thereafter issuable by UAMPS.
During the Measurement Period, the City will not enter into or renew any leases with any Non-Qualified Users other than Qualified Use Agreements with respect to the Equipment without first obtaining an opinion of Special Tax Counsel.
As of the Issue Date, the Issuer has not entered into any leases of any portion of the Financed Facility other than Qualified Use Agreements during the Measurement Period.
As of the Issue Date, the Issuer has not entered into any leases of any portion of the Financed Improvements other than Qualified Use Agreements.

More Definitions of Qualified Use

Qualified Use shall not include any sale of electricity that gives rise to “private business use” or a “private loan” within the meaning of Section 141 of the Code;

Qualified Use shall include the use of electricity by a Participant to meet its own requirements; and

Qualified Use shall include sales of electricity under Permitted Output Contracts and other sales and uses of electricity, in each case as may be approved by UAMPS based on guidance provided by Bond Counsel. For purposes of this definition, “service area” has the meaning assigned to such term in U.S. Treasury Regulation Section 1.148-1(e)(2)(iii) and includes any area recognized as the electricity service area of the Participant under state or federal law.

Qualified Use means to use the property as a natural resource or commercial fishing business property.

Qualified Use means the use of clean hydrogen in the state for:

Qualified Use means (i) a use that does not give rise to “private business use” as defined in Section 141 of the Internal Revenue Code and regulations promulgated thereunder; and (ii) a use which, in the opinion of a nationally recognized bond counsel, does not adversely affect the tax-exempt status of any bonds sold to acquire Prepaid Gas.