Relinquished Properties definition
Examples of Relinquished Properties in a sentence
The Exchangor shall be solely responsible for determining the scope of each separate and distinct Exchange hereunder by matching one or more Relinquished Properties with one or more Replacement Properties.
Each Legal Entity and the QI agree that, as described in the preceding paragraph, all Relinquished Properties and all Replacement Properties shall be transferred directly from the applicable Legal Entity to the applicable Buyer or directly from the applicable Seller to the applicable Legal Entity, as the case may be.
All of the other obligations imposed upon Exchangor under the Sale Agreements, including liabilities and obligations relating to representations and warranties with respect to the Relinquished Properties, shall continue to be solely the obligations of Exchangor.
However, the maximum number of Replacement Properties that Exchanger may identify per Exchange is (i) three properties without regard to the fair market values of the properties, or (ii) any number of properties as long as their aggregate fair market value as of the end of the Identification Period does not exceed 200 percent of the aggregate fair market value of all the Relinquished Properties as of the date the Relinquished Properties were transferred by the Exchanger.
As determined by Exchanger, one or more Replacement Properties received in exchange for one or more Relinquished Properties previously transferred shall be treated as a single Exchange.
If, as part of the same tax-deferred exchange, Exchanger transfers more than one Relinquished Property, and the Relinquished Properties are transferred on different dates, the commencement date of both the Identification Period and the Exchange Period will be the earliest date on which Exchanger transfers any of the Relinquished Properties.
Exchangor shall be solely responsible for determining the scope of each separate and distinct Exchange hereunder by matching one or more Relinquished Properties with one or more Replacement Properties.
To meet the identification requirement described in Section 1031(a)(3)(A) of the Code and Section 1.1031(k)-1(b)(1)(i) of the Treasury Regulations, Exchangor intends, with respect to each Exchange, to utilize the Deemed Deferred Exchange Identification Procedures pursuant to which Replacement Property acquired within the Deferred Exchange Identification Period for an Exchange, and matched with one or more Relinquished Properties for such Exchange, is deemed to have been identified for such Exchange.
Desert Hawk’s relinquishment is and shall continue to be subject to any and all unsatisfied reclamation obligations relative to both the Relinquished Properties and the Leased Premises that were incurred by Desert Hawk during the existence of the Original Agreement or the Amended Agreement.
Desert Hawk hereby relinquishes to Lessors all of the Relinquished Properties and acknowledges that Desert Hawk no longer has any right, title or interest of any kind in or to any of the Relinquished Properties or any minerals or mineral products produced therefrom.