Tax Equity Fund definition
Examples of Tax Equity Fund in a sentence
As of the related Transfer Date, there are no actions, suits, proceedings, claims or disputes pending or, to the Knowledge of the Borrower, threatened in writing or contemplated, at law, in equity, in arbitration or before any Governmental Authority, by or against such Tax Equity Fund, the related Managing Member or against either of their properties or revenues that, either individually or in the aggregate, could reasonably be expected to have a Material Adverse Effect.
The final true-up model with respect to such Tax Equity Fund delivered to the related Tax Equity Investor pursuant to the applicable Tax Equity Opco LLC Agreement may not reflect an Unapproved Bonus Credit.
The Tax Equity Opco LLC Agreement provides that the Tax Equity Fund will make no election to be treated other than as a partnership for federal tax purposes.
Each Material Project Document (other than a Tax Credit Sale Contract), unless such Tax Credit Sale Contract is included in the ITC Value Borrowing Base), each ITC Insurance Policy with respect to each Tax Equity Fund that is [***] = Certain information contained in this document, marked by brackets, has been omitted because it is both not material and would be competitively harmful if publicly disclosed.
The Tax Equity Fund shall be prohibited from incurring any indebtedness above a limit specified in the Tax Equity Fund operating agreement without the Class A Member’s consent and from incurring or granting or suffering to exist any liens on its assets other than such liens in the ordinary course of such business that are customarily permitted without the Class A Member’s consent.
Class B Member has been appointed as the initial managing member or manager of the Tax Equity Fund (in such capacity, the “Manager”).
The Borrower shall have delivered an updated Advance Model (reasonably acceptable to the Administrative Agent) and Data Tape File, incorporating each Solar Asset owned by a Wholly-Owned Subsidiary or Tax Equity Fund as of such date, in form and substance reasonably satisfactory to the Administrative Agent.
If the Tax Equity Fund and/or its Managing Member is party to a Tax Credit Sale Contract, each such Tax Credit Sale Contract that has not been terminated or expired (including as a result of the commitments of the related Tax Credit Purchaser having been fully utilized) is a Permitted Tax Credit Sale Contract and the related Tax Credit Purchaser(s) are not in default of their purchase obligations thereunder.
The Tax Equity Opco LLC Agreement provides a standard of care that requires the Manager to manage the Tax Equity Fund in accordance with prudent industry standards or to at all times act in good faith and in the best interests of the Tax Equity Fund.
Manager is solely responsible for the management of the Systems and the Tax Equity Fund subject to certain customary approval rights of the Class A Member.