Substantial Business Activity definition

Substantial Business Activity means that the Company, and/or its affiliates (i) has a business office, (ii) owns, services or manages real estate, or (iii) has a recorded and unsatisfied mortgage or other lien upon real estate or personal property. In the event that the provisions of this Section 5.1 should ever be adjudicated to exceed the time, geographic, product or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, product or other limitations permitted by applicable law.
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Substantial Business Activity means that the Company, and/or its affiliates: (i) has, has had, or is taking action to establish a business office; (ii) solicits, has solicited, makes or has made, loans secured by real estate, or is or has reviewed applications by borrowers or brokers to engage in these activities; (iii) solicits, has solicited, makes or has made, loans to real estate developers and/or owners, or is or has reviewed applications by borrowers or brokers to engage in these activities; (iv) owns, services or manages real estate, or has owned, serviced or managed real estate; and/or (v) has or has had a recorded and unsatisfied mortgage or other lien upon real estate or personal property. In the event that the provisions of this Section 4.1 should ever be adjudicated to exceed the time, geographic, business activities or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, business activities or other limitations permitted by applicable law.
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Substantial Business Activity means that the Company, and/or its affiliates: (i) has, has had, or is taking action to establish a business office; (ii) solicits, has solicited, makes or has made, loans secured by real estate, or is or has reviewed applications by borrowers or brokers to engage in these activities; (iii) solicits, has solicited, makes or has made, loans to real estate developers and/or owners, or is or has reviewed applications by borrowers or brokers to engage in these activities; (iv) owns, services or manages real estate, or has owned, serviced or managed real estate; and/or (v) has or has had a recorded and unsatisfied mortgage or other lien upon real estate or personal property. Executive owns an apartment in New York City that he currently leases and ultimately will sell or exchange for another property, and is a trustee of a family trust that owns office buildings and parking lots (collectively the “Family Property”). Notwithstanding the provisions of Section 4.1(a) above, the Company understands that Executive in his personal capacity with respect to the apartment and in his capacity as a trustee in connection with the Family Property may engage in purchase, sale, lease, exchange and financing transactions (other than (i) lending to third parties secured by either real estate or ownership interests in real estate, or (ii) securitizations of real estate) so long as such permitted transactions do not conflict with or in any way relate to or benefit from any transactions or activities involving the Company that were completed in the previous year or are pending or contemplated. In the event that the provisions of this Section 4.1 should ever be adjudicated to exceed the time, geographic, business activities or other limitations permitted by applicable law in any jurisdiction, then such provisions shall be deemed reformed in such jurisdiction to the maximum time, geographic, business activities or other limitations permitted by applicable law.
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Examples of Substantial Business Activity in a sentence

  • Cunningham, The New Section 7874 Substantial Business Activity Exception Regulations: Closing the Door, 67 TAX NOTES INT’L 961, 965 (Sept.

  • Substantial Business Activity Requirement Although the substantive business activity requirement is one of the two main pillars of corporate substantive requirements of DOB clauses, its definition is not given in most traditional IIAs.221 Potentially due to the foregoing, this is considered to be the most controversial substantive requirement in DOB provisions.222 217 Plama, para.

Related to Substantial Business Activity

  • Business activity means that term as defined in section 3(2) of the former single business tax act, 1975 PA 228, or in section 105 of the Michigan business tax act, 2007 PA 36, MCL 208.1105.

  • Business Activities shall be deemed to include any activities which are included in the Company's Business now or during the effective period of this Agreement.

  • Substantial business relationship means the extent of a business relationship necessary under applicable state law to make a guarantee contract issued incident to that relationship valid and enforceable. A guarantee contract is issued "incident to that relationship" if it arises from and depends on existing economic transactions between the guarantor and the owner or operator.

  • Competitive Business Activity means:

  • Wellness activity means an explicit program of an activity

  • Special Business means all business transacted at a special meeting of shareholders and all business transacted at an annual meeting of shareholders, except consideration of the financial statements, auditor's report, election of directors and reappointment of the incumbent auditor;

  • Business has the meaning set forth in the Recitals.

  • Substantial Block means a number of shares of Voting Stock which have 10% or more of the aggregate voting power of all outstanding shares of Voting Stock.

  • Company Business means the business of the Company as presently conducted.

  • Competing Business means any business, individual, partnership, firm, corporation or other entity which wholly or in any significant part engages in any business competing with the Business in the Restricted Area. In no event will the Company or any of its affiliates be deemed a Competing Business.

  • Core Business means any material line of business conducted by the Company and its Subsidiaries as of the Closing Date and any business directly related thereto.

  • Activity means the rate of disintegration or transformation or decay of radioactive material. The units of activity are the becquerel (Bq) and the curie (Ci).

  • Competitive Business means any person or entity that engages in any business activity that competes with the Company’s business in any way, in any geographic area in which the Company engages in business, including, without limitation, any state in the United States in which the Company sells or offers to sell its products from time to time.

  • Alarm business means the business by any individual, partnership, corporation, or other entity of selling, leasing, maintaining, servicing, repairing, altering, replacing, moving or installing any alarm system or causing to be sold, leased, maintained, serviced, repaired, altered, replaced, moved or installed any alarm system in or on any building, structure or facility.

  • the two businesses means the FNZ business and the GBST business;

  • Competitive Activities means any business activities in which the Company or any other member of the Company Group engage (or have committed plans to engage) during the Term of Employment, or, following termination of Employee’s employment hereunder, was engaged in business (or had committed plans to engage) at the time of such termination of employment.

  • home business means a business, service or profession carried out in a dwelling or on land around a dwelling by an occupier of the dwelling which –

  • Doing business means engaging in any activity, whether legal or illegal, that is conducted

  • Active business operations means all business operations that are not inactive business operations.

  • Micro Business means a company which either:

  • Separate Business means each of the activities of the Licensee connected

  • Material and Substantial Duties means responsibilities that are normally required to perform your Own Occupation, or any other occupation, and cannot be reasonably eliminated or modified.

  • Parent Business has the meaning set forth in the Separation and Distribution Agreement.

  • Cannabis business means any business activity involving cannabis, including but not limited to cultivating, transporting, distributing, manufacturing, compounding, converting, processing, preparing, storing, packaging, delivering, testing, dispensing, retailing and wholesaling of cannabis, of cannabis products or of ancillary products and accessories, whether or not carried on for gain or profit.

  • Substantial development means any development of which the total cost or fair market value exceeds two thousand five hundred dollars, or any development which materially interferes with the normal public use of the water or shorelines of the state; except that the following shall not be considered substantial developments for the purpose of this chapter:

  • Businesses means, at any time, a collective reference to the businesses operated by the Borrower and its Subsidiaries at such time.