Tax Credit Period definition

Tax Credit Period means the ten year time period referenced in Code Section 42(f)(1) over which the Projected Tax Credits are allocated to the Partners. It is the intent of the Partners that the Projected Tax Credits will be allocated during the Tax Credit Period and not a longer term.
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Tax Credit Period has the meaning provided in Section 38.01.
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Tax Credit Period means the ten year time period referenced in Code Section 42(f)(1) over which the Projected Tax Credits and the Projected Missouri Tax Credits are allocated to the Partners. It is the intent of the Partners that the Projected Tax Credits and the Projected Missouri Tax Credits will be allocated during the Tax Credit Period and not a longer term.
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Examples of Tax Credit Period in a sentence

  • If the Projected Tax Credits are not allocated to the Partners during the Tax Credit Period then the Limited Partner's and Special Limited Partner's Capital Contribution shall be reduced by an amount agreed upon by the Partners, in good faith, to provide the Limited Partner and the Special Limited Partner with their anticipated internal rate of return.

  • In the event the Development, or any part thereof, is damaged or destroyed by fire or other casualty during the Tax Credit Period, the tax credit amounts may be used by the OWNER to repair the damage to said four (4) Residential Units and the 17 apartment dwellings therein not covered by insurance.

  • In this connection, not later than December 31 of the first year of the Tax Credit Period, the Apartment Housing will satisfy the Minimum Set-Aside Test.

  • If the Projected Tax Credits are not allocated to the Partners during the Tax Credit Period and the failure to allocate is not caused by or attributable to an Unavoidable Event then the Limited Partner's and Special Limited Partner's Capital Contribution shall be reduced by an amount agreed upon by the Partners, in good faith, to provide the Limited Partner and the Special Limited Partner with their anticipated internal rate of return.

  • If the Projected Tax Credits are not allocated to the Investor Member and the Special Member during the Tax Credit Period then the Investor Member's and Special Member's Capital Contribution shall be reduced by an amount agreed upon by the Members, in good faith, to provide the Investor Member and the Special Member with their anticipated internal rate of return.

  • Changes in ownership of the limited partnership interests in Investor LP during the NC Tax Credit Period do not have an effect on (i) Investor LP's continued entitlement to its distributive share of the NC Tax Credit, or (ii) the entitlement of the new limited partner(s) in Investor LP to their distributive share of any remaining unallocated installments of the NC Tax Credit from Investor LP.

  • If the Projected Federal Tax Credits or Projected Federal Historic Tax Credits are not allocated to the Partners during the Tax Credit Period then the Limited Partner's and Special Limited Partner's Capital Contribution shall be reduced by an amount agreed upon by the Partners, in good faith, to provide the Limited Partner and the Special Limited Partner with their anticipated internal rate of return.

  • If the Projected Georgia Tax Credits are not allocated to the Partners during the Tax Credit Period then the Georgia Limited Partner's Capital Contribution shall be reduced by an amount agreed upon by the Partners, in good faith, to provide the Georgia Limited Partner with its anticipated internal rate of return.

  • It is the intent of the Partners that the Projected Tax Credits will be allocated during the Tax Credit Period and not a longer term.

  • Annual Rehab Tax Credits $1,002,632 Annual Acquisition Tax Credits $14,710 Total Annual LIHTC's $1,017,341 Tax Credit Period 10 LIHTC's over Ten Years $10,173,410 Est.


More Definitions of Tax Credit Period

Tax Credit Period means, with respect to a building within a Project, the period of ten taxable years beginning with the taxable year the building is placed in service or, at the election of the Ownership Entity the succeeding taxable year, as more fully defined in IRC Section 42(f)(1).
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Tax Credit Period shall have the meaning provided in Section 38.01. “Tax Equity Investor” shall have the meaning provided in Section 38.01. “Tax Year” shall mean each tax fiscal year of Fairfax County, Virginia.
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Related to Tax Credit Period

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.