Section 45 Business means each business of the Company or a Subsidiary of the Company in respect of which, inter alia, the Company shall have “placed in service” (within the meaning of Section 45(d)(8)(A) of the Code) a Facility prior to January 1, 2012, for the production of Refined Coal to be used to reduce NOx and mercury emissions in cyclone coal-fired boilers, and as to which the Company has entered into an agreement or agreements to sell a Facility to a third party, and such third party would be thereafter entitled to Tax Credits for the Refined Coal produced from such Facility. The foregoing January 1, 2012 date shall be extended from time to time to be coterminous with any extension of the January 1, 2012 date currently in Section 45(d)(8) of the Code or with any alternative extension or the elimination of the “placed in service” deadline for a “refined coal production facility” provided for in such Section 45(d)(8).
Section 45 Business means each business of the Licensee or an affiliate of the Licensee in respect of which, intra alia, the Licensee shall have “placed in service” a refined coal production facility prior to January 1, 2010, for the production of “refined coal” in accordance with Section 45 (“Section 45”) of the Internal Revenue Code of 1986, as amended, (the “Code”) to be used to reduce NOx and mercury emissions in cyclone coal-fired boilers, and as to which Licensee has entered into an agreement or agreements to sell a qualified facility to a third party, and such third party would be thereafter entitled to Section 45 tax credits (as provided for under Section 45 for the operation of a “refined coal production facility” as set forth in such Section 45(d)(8) of the Code or any successor provision thereto) as a result of operating such facility, specifically pertaining to NOx and mercury emissions controls from cyclone coal-fired boilers. The foregoing January 1, 2010 date shall be extended from time to time to be coterminous with any extension of the January 1, 2010 date currently in Section 45(d)(8) of the Code or with any alternative extension or the elimination of the “placed in service” deadline for a “refined coal production facility” provided for in such Section 45(d)(8).
Section 45 Business shall have the meaning set forth in Section 1.11 of the License Agreement, a copy of which is attached hereto as Exhibit D.
Examples of Section 45 Business in a sentence
Section 4.5. Business Activity of Company Section 4.6. Brokers, Finders and Investment Bankers.
Notwithstanding the definitions of Chemicals Business and Section 45 Business, the Business of the Company shall be limited to (i) developing, marketing and deploying the Technology, and (ii) organizing, owning, operating, managing, selling, and otherwise dealing, either directly or through one or more Subsidiaries of the Company, in one or more businesses based on the Technology.
More Definitions of Section 45 Business
Section 45 Business means that Licensee shall have received, prior to January 1, 2009, or such later date as may become applicable based on extensions thereto as approved by the Internal Revenue Service (the "IRS"), a written private letter ruling ("PLR") or other indication from the IRS pursuant to which the Licensee may sell, and Licensee has entered into agreements to sell, a qualified facility to a third party, and such third party would be thereafter entitled to Section 45 Tax Credits as a result of operating such facility, specifically pertaining to NOx and mercury emissions controls from cyclone coal-fired boilers.
Section 45 Business means each business of the Licensee or an affiliate of the Licensee in respect of which, intra alia, the Licensee shall have “placed in service” a refined coal production facility prior to January 1, 2010, for the production of “refined coal” in accordance with Section 45 (“Section 45”) of the Internal Revenue Code of 1986, as amended, (the “Code”) to be used to reduce NOx and mercury emissions in cyclone coal-fired boilers, and as to which Licensee has entered into an agreement or agreements to sell, lease or use a qualified facility to or by a third party, and such third party would be thereafter entitled to Section 45 tax credits (as provided for under Section 45 for the operation of a “refined coal production facility” as set forth in such Section 45(d)(8) of the Code or any successor provision thereto) as a result of operating such facility, specifically pertaining to NOx and mercury emissions controls from cyclone coal-fired boilers. The foregoing January 1, 2010 date shall be extended from time to time to be coterminous with any extension of the January 1, 2010 date currently in Section 45(d)(8) of the Code or with any alternative extension or the elimination of the “placed in service” deadline for a “refined coal production facility” provided for in such Section 45(d)(8).
Section 45 Business means each business of the Company or a Subsidiary of the Company in respect of which, inter alia, the Company shall have “placed in service” (within the meaning of Section 45(d)(8)(A) of the Code) a Facility prior to January 1, 2012, for the production of Refined Coal to be used to reduce NOx and mercury emissions in coal-fired boilers, and as to which the Company has either (a) entered into an agreement or agreements to sell or lease a Facility to a third party, and such third party would be thereafter entitled to Tax Credits for the Refined Coal produced from such Facility, or (b) determined to operate such Facility and retain the Tax Credits for the Refined Coal produced from such Facility for the benefit of the Company and its Members.”