Successful Challenge definition
Successful Challenge means the date a court of competent jurisdiction has determined in a final, non-appealable order that this Agreement, or any term or provision hereof, after giving effect to Section 27, caused a termination of the Company’s REIT election under Section 856(g) of the Code.
Examples of Successful Challenge in a sentence
The stipulations, admissions, and releases contained in paragraph F of this Interim Order shall be immediately binding upon the Debtor, its affiliates, and any of their respective successors in all circumstances, except in the event of a Successful Challenge (as defined below).
In any Challenge procedure, except in the case described in the Successful Challenge section for failure to comply, TDF is a third party and no costs, penalties or other expenses MUST be charged onto it.