Section 385 Controlled Partnership definition

Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a “controlled partnership”.
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Section 385 Controlled Partnership means (i) a “controlled partnership” as defined in Treasury Regulation Section 1.385-1(c)(1) and (ii) a disregarded entity with respect to such a controlled partnership.
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Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385 - 1(c)(1) for a “controlled partnership”. “ Section 385 Expanded Group ” has the meaning set forth in Treasury Regulation Section 1.385 - 1(c)(4) for an “expanded group.” “ Securities Act ” means the Securities Act of 1933, as amended. “ Seller ” means ACM Funding, LLC, a Delaware limited liability company, in its capacity as Seller under the Sale and Servicing Agreement. “ Servicer ” means, initially, America’s Car Mart, and any replacement Servicer appointed pursuant to the Sale and Servicing Agreement. “ Servicer Replacement Event ” means any one or more of the following that shall have occurred and be continuing: (a) any failure by the Servicer to deliver or cause to be delivered any required payment to the Indenture Trustee for distribution to the Noteholders, which failure continues
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Examples of Section 385 Controlled Partnership in a sentence

  • No transfer of a Certificate (or interest therein) shall be permitted if (i) it results in the Issuer becoming a disregarded as an entity separate for U.S. federal income tax purposes from a Domestic Corporation and (ii) either (x) a member of an expanded group that includes such Domestic Corporation owns any Notes or (y) a Section 385 Controlled Partnership of such expanded group owns any Notes.

  • The preceding sentence shall not apply if each member of the Section 385 Expanded Group that includes such Noteholder or beneficial owner (or with respect to which such Noteholder or beneficial owner is a Section 385 Controlled Partnership or disregarded entity) is a member of the same consolidated group (as described in Treasury Regulation section 1.1502-1(h)) that files a consolidated U.S. federal income tax return.

  • The preceding sentence shall not apply if each member of the Section 385 Expanded Group that includes such Holder or beneficial owner (or with respect to which such Holder or beneficial owner is a Section 385 Controlled Partnership or disregarded entity) is a member of the same consolidated group (as described in Treasury Regulation section 1.1502-1(h)) that files a consolidated U.S. federal income tax return.


More Definitions of Section 385 Controlled Partnership

Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385 - 1(c)(1) for a “controlled partnership”. “ Section 385 Expanded Group ” has the meaning set forth in Treasury Regulation Section 1.385 - 1(c)(4) for an “expanded group.” “ Securities Act ” means the Securities Act of 1933, as amended. “ Seller ” means ACM Funding, LLC, a Delaware limited liability company, in its capacity as Seller under the Sale and Servicing Agreement. “ Servicer ” means, initially, America’s Car Mart, and any replacement Servicer appointed pursuant to the Sale and Servicing Agreement. “ Servicer Replacement Event ” means any one or more of the following that shall have occurred and be continuing: (a) any failure by the Servicer to deliver or cause to be delivered any required payment to the Indenture Trustee for distribution to the Noteholders, which failure continues unremedied for five (5) Business Days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least 25% of the Note Balance, voting together as a single Class;
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Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385 - 1(c)(1) for a “controlled partnership”. “ Section 385 Expanded Group ” has the meaning set forth in Treasury Regulation Section 1.385 - 1(c)(4) for an “expanded group.” “ Securities Act ” means the Securities Act of 1933, as amended. “ Seller ” means ACM Funding, LLC, a Delaware limited liability company. “ Servicer ” means, initially, America’s Car Mart, and any replacement Servicer appointed pursuant to the Sale and Servicing Agreement. “ Servicer Replacement Event ” means any one or more of the following that shall have occurred and be continuing: (a) any failure by the Servicer to deliver or cause to be delivered any required payment to the Indenture Trustee for distribution to the Noteholders, which failure continues unremedied for five Business Days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least 25% of the Note Balance, voting together as a single Class; (b) any failure by the Servicer to duly observe or perform in any respect any other of its covenants or agreements in the Sale and Servicing Agreement, which failure materially and adversely affects the rights of the Issuer or the Noteholders and which continues unremedied for 90 days after discovery thereof by a Responsible Officer of the Servicer or receipt by the Servicer of written notice thereof from the Indenture Trustee or Noteholders evidencing at least a majority of the aggregate Note Balance of all Outstanding Notes; provided , however , that no Servicer Replacement Event will result from the breach by the Servicer of any covenant for which the purchase of the affected Receivable is specified as the sole remedy pursuant to Section 3.6 of the Sale and Servicing Agreement; or
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Section 385 Controlled Partnership has the meaning set forth in Treasury Regulation Section 1.385-1(c)(1) for a “controlled partnership”. “Securityholders” shall mean the Certificateholders and the Noteholders. “STAMP” shall have the meaning assigned to such term in Section 3.4(d). “Statutory Trust Act” shall mean Chapter 38 of Title 12 of the Delaware Code, 12 Del. Code Section 3801 et seq. as the same may be amended from time to time. “Targeted Holder” shall mean each holder of (i) a right to receive interest or principal with respect to the Retained Notes, (ii) any interest in the Trust with respect to which an Opinion of Counsel has not been rendered that such interest will be treated as debt for federal income tax purposes, and (iii) a right to receive any amount in respect of the Trust Certificate; provided, however, that any Person holding more than one right or interest each of which would cause such Person to be a Targeted Holder shall be treated as a single Targeted Holder. “Trust” shall mean the trust established by this Agreement. 4 “Trust Certificate” means a Certificate evidencing the beneficial interest of a Certificateholder in the Trust, substantially in the form of Exhibit A attached hereto.
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Related to Section 385 Controlled Partnership

  • Controlled Entities means those entities (including special purpose entities) over which another party has the power to govern, directly or indirectly, decision making in relation to financial and operating policies, so as to require that entity to conform with such controlling party’s objectives;

  • Controlled Entity means any of the Subsidiaries of the Company and any of their or the Company’s respective Controlled Affiliates. As used in this definition, “Control” means the possession, directly or indirectly, of the power to direct or cause the direction of the management and policies of a Person, whether through the ownership of voting securities, by contract or otherwise.

  • Co-licensed partner means a person who, with at least one other person, has the right to engage in

  • Business Partner means a legal entity that requires use of a training service in connection with Customer’s and its Affiliates’ internal business operations. These may include customers, distributors, service providers and/or suppliers of Customer.