Reverse 1031 Exchange definition

Reverse 1031 Exchange means, a transaction intended to qualify for non-recognition of gain or loss under Section 1031 of the Code pursuant to which (a) a Section 1031 Counterparty receives funds from the Borrower and/or a Restricted Subsidiary to acquire Properties owned by one or more third parties, which the Borrower and/or any of its Restricted Subsidiaries could have acquired pursuant to a transaction permitted by the terms of this Agreement, in return for a Section 1031 Pledged Note, (b) such acquired Properties are ‘parked’ with such Section 1031 Counterparty, (c) the Borrower and/or any of its Restricted Subsidiaries Dispose of Properties to one or more third parties directly or through such Section 1031 Counterparty, (d) proceeds from such Disposal of Properties referenced in clause (c) above are received by the Section 1031 Counterparty and are used by the Section 1031 Counterparty to repay such Section 1031 Pledged Note and (e) the Properties ‘parked’ with the Section 1031 Counterparty or the Equity Interests in such Section 1031 Counterparty are transferred to the Borrower and/or any of its Restricted Subsidiaries, in each case, subject to changes recommended by counsel to the Borrower.
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Reverse 1031 Exchange means, a transaction intended to qualify for non-recognition of gain or loss under Section 1031 of the Code pursuant to which (a) the Section 1031 Counterparty receives funds from the Borrower and/or a Restricted Subsidiary and/or third party financing to acquire Properties owned by one or more third parties, in return for a Section 1031 Note from the Borrower and/or such Restricted Subsidiary and secured financing from the third party financing source, (b) such acquired Properties are ‘parked’ with the Section 1031 Counterparty, (c) the Borrower and/or any of its Restricted Subsidiaries conveys Properties to one or more third parties directly or through the Section 1031 Counterparty, (d) proceeds from such conveyance of Properties referenced in clause (c) above are received by the Section 1031 Counterparty and are used by the Section 1031 Counterparty to repay such Section 1031 Note and the secured third party financing (if the Equity Interests of the Section 1031 Counterparty are not transferred to the Borrower as referenced in clause (e) below), and (e) the Properties ‘parked’ with the Section 1031 Counterparty or the Equity Interests in the Section 1031 Counterparty are transferred to the Borrower and/or any of its Restricted Subsidiaries, in each case, subject to changes recommended by counsel to the Borrower and reasonably acceptable to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed).
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Reverse 1031 Exchange means, a transaction or a series of transactions intended to qualify for non-recognition of gain or loss under Section 1031 of the Code pursuant to which (a) a Section 1031 EAT Counterparty receives funds from the Borrower and/or a Restricted Subsidiary to acquire Section 1031 Replacement Properties, which the Borrower and/or any of its Restricted Subsidiaries could have acquired pursuant to a transaction permitted pursuant to this Agreement, in return for a Section 1031 Promissory Note, (b) such acquired ANNEX I
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Examples of Reverse 1031 Exchange in a sentence

  • The Accommodator was acting as a pass through entity in a Reverse 1031 Exchange of real property under the Internal Revenue Code.

  • The Debtor contends that it is entitled to 4recover at least $3 Million from the defendants pursuant to the Pending Litigation.56 (f) Condition of Title.7 As a result of the attempted Reverse 1031 Exchange, Vista Reverse 4 LLC obtained an 8interest in the Property, and as of the date hereof record title to the Property indicates the9following undivided ownership interests: Debtor (54.8%); Vista Reverse 4 LLC (45.2%).

  • Notify them that you are participating in a Reverse 1031 Exchange.

  • Report to be presented on Australia’s national parks.General Business—Notice of MotionNotice given 27 November 2006634 Senators Johnston and Adams: To move—That the following bill be introduced: A Bill for an Act to amend the Commonwealth legislative framework applying to the Australian wheat industry, and for related purposes.

  • As a1011 result of the failure of the Reverse 1031 Exchange, Vista Reverse 4 LLC holds no equitable12 interest in the Property, and the Plan provides that Vista Reverse 4 LLC will transfer all interests13 in the Property to the Debtor.

  • In a Reverse 1031 Exchange, the 20target property is acquired prior to the sale of the initial property, and the proceeds of the sale are21used to pay the costs of financing the purchase of the target property.

  • Investment in Consolidated and Unconsolidated Entities Consolidated Entities As of December 31, 2019, the Company had no VIEs. At December 31, 2018, Sandy Plains Centre was the Company's only VIE through an active Reverse 1031 Exchange.

  • Virtue Ethics (or Virtue Theory) is an approach to Ethics that emphasizes an individual's character as the key element of ethical thinking, rather than rules about the acts themselves (Deontology) or their consequences (Consequentialism).

  • Consolidated Entities At December 31, 2018, Sandy Plains Centre was the Company's only VIE through an active Reverse 1031 Exchange.

  • If you find a property you would like to acquire before you sell your current property, a Reverse 1031 Exchange can save you thousands of dollars in capital gains tax.


More Definitions of Reverse 1031 Exchange

Reverse 1031 Exchange shall include all intermediary steps and transactions taken in connection with the foregoing.
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Reverse 1031 Exchange means, any transaction intended to qualify for non-recognition of gain or loss under Section 1031 of the Code pursuant to which (a) the Section 1031 Counterparty receives funds from the Borrower and/or its Subsidiary and/or third party financing to acquire Properties owned by one or more third parties, in return for a Section 1031 Note from the Borrower and/or its Subsidiary and secured financing from the third party financing source, (b) such acquired Properties are ‘parked’ with the Section 1031 Counterparty, (c) the Borrower and/or its Subsidiary conveys Properties to one or more third parties directly or through the Section 1031 Counterparty, (d) proceeds from such conveyance of Properties referenced in clause (c) above are received by the Section 1031 Counterparty and are used by the Section 1031 Counterparty to repay such Section 1031 Note and the secured third party financing (if the Equity Interests of the Section 1031 Counterparty are not transferred to the Borrower and/or its Subsidiary as referenced in clause (e) below), and (e) the Properties ‘parked’ with the Section 1031 Counterparty or the Equity Interests in the Section 1031 Counterparty are transferred to the Borrower and/or its Subsidiary, in each case, subject to changes recommended by counsel to the Borrower and reasonably acceptable to the Administrative Agent (such acceptance not to be unreasonably withheld or delayed).
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Related to Reverse 1031 Exchange

  • Technology Transfer Agreement has the meaning given in Section 2.2(e).

  • Asset Transfer Agreement means the asset transfer agreement dated September 12, 2014 between Centurion Real Estate Opportunities Trust and Centurion Apartment REIT pursuant to which Centurion Apartment REIT seeded the initial portfolio of Centurion Real Estate Opportunities Trust.

  • Asset Transfer means a sale, lease, exclusive license or other disposition of all or substantially all of the assets of the Company.

  • Budget transfer means transfer of funding within a function / vote.

  • HUBZone small business concern means a small business concern that appears on the List of Qualified HUBZone Small Business Concerns maintained by the Small Business Administration.

  • New manufactured home park or subdivision means a manufactured home park or subdivision for which the construction of facilities for servicing the lots on which the manufactured homes are to be affixed (including at a minimum, the installation of utilities, the construction of streets, and either final site grading or the pouring of concrete pads) is completed on or after the effective date of this ordinance or the effective date of the initial floodplain management ordinance and includes any subsequent improvements to such structure.

  • Company Acquisition Agreement has the meaning set forth in Section 5.04(a).

  • Qualified small business means an entity, whether organized as a corporation, partnership, or proprietorship, organized for profit with its principal place of business located within this state and which meets the following criteria:

  • Securitization Transfer The sale or transfer of some or all of the Mortgage Loans to a trust or other entity as part of a publicly-issued or privately-placed, rated or unrated mortgage pass-through or other mortgage-backed securities transaction.

  • Business Combination Agreement shall have the meaning given in the Recitals hereto.

  • Small business concern means a concern, including its affiliates, that is independently owned and operated, not dominant in the field of operation in which it is bidding on Government contracts, and qualified as a small business under the criteria in 13 CFR Part 121 and size standards in this solicitation.

  • Expansion to an existing manufactured home park or subdivision means the preparation of additional sites by the construction of facilities for servicing the lots on which the manufactured homes are to be affixed (including the installation of utilities, the construction of streets, and either final site grading or the pouring of concrete pads).

  • Women-owned small business concern means a small business concern-

  • Reorganization Transactions shall have the meaning set forth in the recitals.

  • Initial Business Combination means the acquisition by the Company, whether through a merger, share exchange, asset acquisition, stock purchase, reorganization, recapitalization or similar type of transaction, of one or more business or entities (“Target Business” or “Target Businesses”), whose collective fair market value is equal to at least 80% of the balance in the Trust Account and resulting in ownership by the Company or the holders of IPO Shares of at least 51% of the voting equity interests of the Target Business or Businesses or all or substantially all of the assets of the Target Business or Businesses;

  • Manufactured Home Park or Subdivision means a parcel (or contiguous parcels) of land divided into two or more manufactured home lots for rent or sale.

  • Business concern means any corporation, company, limited liability company, partnership, joint venture, trust, unincorporated association or any other form of association.

  • Tube housing assembly means the tube housing with tube installed. It includes high-voltage and/or filament transformers and other appropriate elements when such are contained within the tube housing.

  • Veteran-owned small business concern means a small business concern—

  • Qualified Securitization Transaction means any transaction or series of transactions that may be entered into by the Company or any of its Restricted Subsidiaries pursuant to which the Company or any of its Restricted Subsidiaries may sell, convey or otherwise transfer to:

  • IDR Transfer Agreement means an agreement to transfer, subject to the terms of Tariff, Part VI, section 237, Incremental Deliverability Rights to a party for the purpose of eliminating or reducing the need for Local or Network Upgrades that would otherwise have been the responsibility of the party receiving such rights. Immediate-need Reliability Project: “Immediate-need Reliability Project” shall have the same meaning provided in the Operating Agreement.

  • Company Acquisition Transaction means any transaction or series of transactions involving:

  • Reorganization Transaction see clause (d) of the definition of “Change of Control.”

  • Dividend Reinvestment Acquisition means an acquisition of Voting Shares pursuant to a Dividend Reinvestment Plan;

  • Existing manufactured home park or subdivision means a manufactured home park or subdivision for which the construction of facilities for servicing the lots on which the manufactured homes are to be affixed (including, at a minimum, the installation of utilities, the construction of streets, and either final site grading or the pouring of concrete pads) is completed before the effective date of the floodplain management regulations adopted by a community.

  • Reorganization Agreement has the meaning set forth in the recitals.