Tax Equity Partner definition

Tax Equity Partner means any tax equity partner that (x) has entered into a joint venture agreement, limited liability company agreement or similar arrangement with a Project Company (and/or a Company Group Party that is a direct or indirect parent company of such Project Company) in connection with the consummation of a Permitted Tax Equity Financing and (y) is not an Affiliate of such Project Company or Company Group Party.
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Tax Equity Partner means any tax equity partner that (x) has entered into a joint venture agreement, limited liability company agreement or similar arrangement with a Project Company (and/or a Company Group Party that is a direct or indirect parent company of such Project Company) in connection with the consummation of a Permitted Tax Equity Financing and (y) is not an Affiliate of such Project Company or Company Group Party. L. The definition of “Total Debt” in Section 1.01 of the Credit Agreement is hereby amended and restated in its entirety as follows: ““Total Debt” means, as of any date of determination, for the Borrower and the Guarantors, the sum of (a) the outstanding principal amount of all obligations, whether current or long-term, for borrowed money (including Obligations hereunder constituting indebtedness for borrowed money) and all obligations evidenced by bonds, debentures, notes, loan agreements or other similar instruments constituting Indebtedness, (b) all purchase money Indebtedness, (c) all direct obligations arising under letters of credit (including standby and commercial), bankers’ acceptances, bank guaranties, surety bonds and similar instruments, (d) all obligations in respect of the deferred purchase price of property or services constituting Indebtedness, (e) all Attributable Indebtedness, (f) without duplication, all Guarantees with respect to outstanding Indebtedness of the types specified in clauses (a) through (e) above of Persons other than the Borrower and the Guarantors and (g) all Indebtedness of the types referred to in clauses (a) through (f) above of any partnership or joint venture (other than a joint venture that is itself a corporation or limited liability company) in which the Borrower or any Guarantor is a general partner or joint venturer, unless such Indebtedness is expressly made non-recourse or limited recourse to the Borrower and the Guarantors (it being understood that, in respect of limited recourse 6 Indebtedness, Total Debt will be limited to the extent of such recourse). Notwithstanding anything herein to the contrary, (i) the undrawn amount of any Letters of Credit that are outstanding shall be excluded and not be given any effect in the calculation of Total Debt, (ii) the amount of any surety bonds that are outstanding and that are not subject to an outstanding claim shall be excluded and not be given any effect in the calculation of Total Debt, and (iii) for so long as the Borrower guarantees the Indebtedness represente...
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Examples of Tax Equity Partner in a sentence

  • The first Member is a Tax Equity Partner (“TEP”) that is a financial investor, which will not be responsible for project operations.

  • Section V.D. (Project Financing) of this Application and Chapter 5 (Testimony of Melnyk), p.8.Cost ofminus the Tax Equity Partner contribution of) for Liberty todevelop, construct, acquire and own the Luning Expansion Project.13 In addition, the Commission determined, in approving Liberty’s Luning Solar Project application, that while Pub.

  • In exchange for providing a significant portion of the capital investment of the partnership, the Tax Equity Partner receives the tax incentives (ITCs and Modified Accelerated Cost Recovery System (“MACRS”)) from the project during the first 5-7 years of the project’s life and cash distributions as part of its return and recovery of the capital invested.

  • Liberty anticipates that a partnership interest in the Luning Expansion Project will need to provide the Tax Equity Partner 70 D.16-01-021, p.36.71 D.16-01-021, p.12, fn.

  • Once those documents are executed, the members of the Joint Venture will be NIPSCO (the managing member) and a Tax Equity Partner (“TEP”) (a financial investor that will not have any operational rights in the Joint Venture).

  • Prior to the Buy-Out, the Luning Expansion Project Company will be jointly owned by both Liberty and the Tax Equity Partner.

  • Assuming that the Tax Equity Partner’s contribution will equal of the total Project Cost, the annual amount of aggregate Tax Equity Partner Distribution will be approximately .80 However, these contribution amounts are only estimates for now, as Liberty cannot seriously engage in commercial negotiations with a potential Tax Equity Partner until the Commission approves this Application and the overarching project approach has secured a high degree of regulatory certainty.

  • After accounting for Project Operating Expenses, the Tax Equity Partnership Agreement will provide for the Luning Expansion Project Company to make the Tax Equity Partner Distributions to the Tax Equity Partner.

  • The Tax Equity Partner will receive the following benefits in return for its contribution to the capital costs to purchase the Project: (1) of the ITC; (2) some amount of the accelerated depreciation; (3) Tax Equity Partner Distributions; and (4) a one-time Buy-Out Payment.108 105 Chapter 6 (Testimony of Marsh), p.5.106 D.17-12-008.

  • The Tax Equity Partner, in return for its currently anticipated investment,74 will obtain a partnership interest in the Luning Expansion Project.

Related to Tax Equity Partner

  • Foreign limited liability partnership means a partnership that:

  • parent financial holding company in a Member State means a financial holding company which is not itself a subsidiary of an institution authorised in the same Member State, or of a financial holding company or mixed financial holding company set up in the same Member State;

  • Foreign limited liability limited partnership means a foreign limited partnership whose general partners have limited liability for the obligations of the foreign limited partnership under a provision similar to section 488.404, subsection 3.

  • Investor Limited Partner means any Limited Partner so designated at the time of its admission as a partner of the Partnership.

  • Foreign limited partnership means a partnership formed under laws other than of this state and having as partners one or more general partners and one or more limited partners.

  • Initial Limited Partner has the meaning set forth in the Preamble.

  • GP means Gottbetter & Partners, LLP.

  • Initial Limited Partners means the Organizational Limited Partner (with respect to the Common Units and Subordinated Units received by it pursuant to Section 5.2), the General Partner (with respect to the Incentive Distribution Rights) and the Underwriters, in each case upon being admitted to the Partnership in accordance with Section 10.1.

  • Community Contribution Company means a corporation formed under the laws of British Columbia that includes in its articles the following statement:

  • Limited liability partnership or “LLP” shall mean a Company governed by Limited Liability Partnership Act 2008 or as amended.

  • mixed financial holding company means a mixed financial holding company as defined in point (21) of Article 4(1) of Regulation (EU) No 575/2013;

  • Class B Limited Partner means any Person executing (by power of attorney or otherwise) this Agreement as of the date hereof as a Class B Limited Partner or hereafter admitted to the Partnership as a Class B Limited Partner as herein provided, but shall not include any Person who has ceased to be a Class B Limited Partner in the Partnership.

  • Lead Partner means the lead partner of a joint venture, as described in Sub-Clause

  • Asset Management Company/UTI AMC/AMC/Investment Manager means the UTI Asset Management Company Limited incorporated under the Companies Act, 1956, (1 of 1956) [replaced by The Companies Act, 2013 (No.18 of 2013)] and approved as such by Securities and Exchange Board of India (SEBI) under sub-regulation (2) of Regulation 21 to act as the Investment Manager to the schemes of UTI Mutual Fund.

  • Partnership Percentage means a percentage established for each partner on the Partnership' books as of the first day of each Fiscal Period. The Partnership Percentage of a Partner for a Fiscal Period shall be determined by dividing the amount of the Partner's capital account as of the beginning of the Fiscal Period by the sum of the capital accounts of all of the Partners as of the beginning of the fiscal Period. The sum of the Partnership Percentage for each fiscal Period shall equal one hundred percent (100%).

  • Public-private partnership means an arrangement or agreement, occurring on or after January 1, 2017, between a procurement unit and one or more contractors to provide for a public need through the development or operation of a project in which the contractor or

  • Performing Common Equity means Capital Stock (other than Preferred Stock) and warrants of an issuer all of whose outstanding debt is Performing.

  • Local Distribution Company or “LDC” means a Person licensed by the OEB as a “Distributor” in connection with a Distribution System.

  • Member-managed limited liability company means a limited liability company that is not a manager-managed limited liability company.

  • Defaulting Limited Partner means a Limited Partner that has failed to pay any amount owed to the Partnership under a Partnership Loan within 15 days after demand for payment thereof is made by the Partnership.

  • Holdco has the meaning set forth in the Preamble.

  • mixed-activity holding company means a parent undertaking, other than a financial holding company or an institution or a mixed financial holding company, the subsidiaries of which include at least one institution;

  • Taxable value per membership pupil means each of the following divided by the district’s membership:

  • Corporate Partner means a Partner that is subject to tax under [reference to State law].

  • State Budget Director means the individual appointed by the Governor pursuant to Section 321 of The Management and Budget Act, 1984 PA 431, MCL 18.1321.

  • Parent Holding Company means any direct or indirect parent entity of Holdings which holds directly or indirectly 100% of the Equity Interest of Holdings and which does not hold Capital Stock in any other Person (except for any other Parent Holding Company).