Tax Credits definition

Tax Credits means any state, local and/or federal production tax credit, tax deduction, and/or investment tax credit specific to the production of renewable energy and/or investments in renewable energy facilities.

Tax Credits means the low-income housing tax credits found in Section 42 of the Code, and all rules, regulations, rulings, notices and other promulgations thereunder.

Tax Credits means any and all (a) investment tax credits, (b) production tax credits and (c) similar tax credits or grants under federal, state or local law relating to the construction, ownership or production of energy from the System.

Examples of Tax Credits in a sentence

• It is the intention of the Parties that the 2024 Tax Credits be absolutely and irrevocably transferred by Seller to Purchaser pursuant to this Agreement such that the 2024 Tax Credits would not be property of Seller’s estate in the event of the filing of a Bankruptcy petition by or against Seller under any Bankruptcy or similar law.

• Upon written request from Seller, Purchaser shall use reasonable efforts to (A) transfer any Purchaser Tax Proceeding to Seller with respect to the 2024 Tax Credits and/or (B) request to suspend or otherwise hold in abeyance and keep open any Purchaser Tax Proceeding.

• If Purchaser does not receive the Litigation Opinion, it may accept a settlement offer, concede the proposed adjustment or decide not to proceed to litigation, and any resulting disallowance or lack of the right to claim any portion of the 2024 Tax Credits shall be treated as a Loss Event and Seller shall have an indemnity obligation to Purchaser with result to any such disallowance or unclaimed portion.

• However, if Purchaser does receive the Litigation Opinion but subsequently accepts a settlement offer, concedes the proposed adjustment or decides not to proceed to litigation, any resulting disallowance or lack of the right to claim any portion of the 2024 Tax Credits shall not be treated as a Loss Event and Seller shall have no indemnity obligation to Purchaser with result to any such disallowance or unclaimed portion.

• The Parties intend that this Agreement is purely an arm’s-length contract to facilitate the purchase and sale of Tax Credits and the associated duties and obligations of the Parties.

More Definitions of Tax Credits

Tax Credits means the PTC, ITC and any other state, local or federal production tax credit, depreciation benefit, tax deduction or investment tax credit specific to the production of renewable energy or investments in renewable energy facilities.

Tax Credits means federal low income housing tax credits, as authorized by Section 42.

Tax Credits means any state, local and federal production and investment tax credits, tax deductions, or other tax benefits specific to the production of renewable energy or investments in renewable energy facilities.

Tax Credits means energy credits under Section 48 of the Internal Revenue Code of 1986, as amended, or any successor to such section.

Tax Credits means all credits against income or franchise taxes and credits allowable to Members under state, federal or other tax statutes.

Tax Credits means the low income housing tax credits made available by the Authority to the Sponsor for rehabilitation of the Housing Development by the Sponsor in accordance with the Low Income Housing Tax Credit Program administered by the Authority under Section 42 of the Internal Revenue Code of 1986, as amended.

Tax Credits means federal 9% or 4% (as applicable) Low Income Housing Tax Credits granted pursuant to Section 42 of the Internal Revenue Code and/or California Revenue and Taxation Code Sections 17057.5, 17058, 23610.4 and 23610.5 and California Health and Safety Code Section 50199, et seq., as applicable.