Relinquished Property definition

Relinquished Property has the meaning specified in the definition of “Like-Kind Exchange”.

Relinquished Property means relinquished property as described in 26 C.F.R. 1.1031(k)-1(a).

Relinquished Property. As defined in the applicable Master Exchange Agreement.

Examples of Relinquished Property in a sentence

• The QI hereby acknowledges that it shall have no interest in any Relinquished Property Agreement with respect to any Vehicle that is not Relinquished Property.

• Each Legal Entity shall be ultimately and solely responsible for the accuracy of any transfer dates, the Relinquished Property and the Replacement Property descriptions, the Relinquished Property and the Replacement Property values and the Relinquished Property and the Replacement Property matching with respect to each Exchange performed pursuant to its LKE Program.

• Each Legal Entity and the QI mutually acknowledge and agree that, pursuant to this Agreement, the QI will solely acquire Rights in contracts to both the Relinquished Property and the Replacement Property in accordance with the provisions of Section 1031 of the Code and the Treasury Regulations thereunder and that legal title to the Relinquished Property will be transferred to one or more Buyers and legal title to the Replacement Property will be transferred to the applicable Legal Entity.

• To avoid a taxable sale of the Relinquished Property, the use of an intermediary in virtually every 1031 transaction shouldbe utilized.

• In addition, the Exchanger must enter into written agreements with the QI before the Relinquished Property is sold.

More Definitions of Relinquished Property

Relinquished Property means a Property sold to a Person which is not the Borrower or an Affiliate thereof, and the proceeds of such sale are held in an exchange account by a Qualified Intermediary, as part of a Section 1031 Exchange.

Relinquished Property means certain vehicles used in Exchangor’s business and qualifying as “relinquished property” within the meaning of Section 1.1031(k)-1(a) of the Treasury Regulations, which have been identified as such in a written notice delivered by a Legal Entity pursuant to Section 2.05 hereof to each other party to the applicable Relinquished Property Agreement of the assignment of such Relinquished Property Agreement to the QI.

Relinquished Property has the meaning set forth in Section 9.14.

Relinquished Property means re- linquished property as described in 26 C.F.R. 1.1031(k)-1(a).

Relinquished Property. Any Mortgaged Property qualifying as “relinquished property” within the meaning of Section 1.1031(k)-(1(a) of the Treasury Regulations (or any successor section).

Relinquished Property. Any Mortgaged Property qualifying as “relinquished property” within the meaning of Section 1.1031(k)-(1(a) of the Treasury Regulations (or any successor section). “Relinquished Property Agreement ”: Any agreement relating to the sale or disposition of Relinquished Property. “Relinquished Property Proceeds ”: means the proceeds of the sale or disposition of Relinquished Property. “Remittance Date ”: The Business Day preceding each Payment Date. “Removed Mortgaged Property ”: Each Third Party Option Mortgaged Property and each Lease Transfer Mortgaged Property, released at any time from the lien of the Indenture. “REO Acquisition ”: The acquisition of any REO Property pursuant to Section 3.09 . “REO Disposition ”: The sale or other disposition of any REO Property pursuant to Section 3.18 . “REO Property ”: A Mortgaged Property acquired by or on behalf of the Indenture Trustee through foreclosure, acceptance of a deed-in-lieu of foreclosure or otherwise in accordance with applicable law in connection with the default or imminent default of a Mortgage Loan. “REO Revenues ”: All income, rents, profits and proceeds derived from the ownership, operation or leasing of any REO Property. “ Replacement Property ”: Mortgaged Properties that are (i) of a “like-kind” (within the meaning of Section 1.1031(a)-1(b) of the Treasury Regulations (or any successor section)) to any Relinquished Property and otherwise satisfying the definition of and requirements for “replacement property” under the Treasury Regulations and (ii) satisfy the definition of Qualified Substitute Mortgaged Property. “Replacement Property Agreement ”: Any agreement relating to the acquisition of Replacement Property. “Request for Release ”: A request signed by a Servicing Officer, as applicable, of the Property Manager substantially in the form of Exhibit B attached hereto or of the Special Servicer substantially in the form of Exhibit C attached hereto. 27 US-DOCS\ 96557504.7 102826315.7

Relinquished Property means, with respect to each Exchange, the relinquished Asset(s), qualifying as “relinquished property or properties” within the meaning of Treasury Regulation Section 1.1031(k)-1(a), disposed of by an Exchanger in a like-kind exchange with Qualified Intermediary pursuant to this Agreement, which such Exchanger so designates by notifying Qualified Intermediary and Transferee of an assignment of a Relinquished Property Agreement, but only to the extent the Qualified Proceeds therefrom are deposited into the Exchange Account.