Tax Exempt Person definition

Tax Exempt Person means a person who is exempt from tax under Part I of the Tax Act.

Tax Exempt Person means an organization that is exempt from federal income tax under section 501(a) of the internal revenue code, and a partnership, limited liability company, joint venture, unincorporated association, or other group or combination of organizations acting as a unit if all such organizations are exempt from federal income tax under section 501(a) of the internal revenue code and if all activities of the unit are exclusively related to the charitable, educational, or other purposes or functions that are the basis for the exemption of such organizations from federal income tax, except the following:

Tax Exempt Person means (a) (a) the United States, any state or political subdivision thereof, any possession of the United States or any agency or instrumentality of any of the foregoing, (b) any organization which is exempt from tax imposed by the Code (including any former tax-exempt organization within the meaning of section 168(h)(2)(E) of the Code), (c) any Person who is not a United States Person, (d) any Indian tribal government described in section 7701(a)(40) of the Code and (e) any “tax-exempt controlled entity” under section 168(h)(6)(F) of the Code; provided, however, that any such Person shall not be considered a Tax-Exempt Person to the extent that (i) the exception under section 168(h)(1)(D) of the Code applies with respect to the income from the Borrower for that Person, (ii) the Person is described within clause (c) of this definition, and the exception under section 168(h)(2)(B)(i) of the Code applies with respect to the income from the Borrower for that Person, or (iii) such Person avoids being a “tax-exempt controlled entity” under section 168(h)(6)(F) of the Code by making an election under section 168(h)(6)(F)(ii) of the Code. A Person shall cease to be a Tax Exempt Person if (i) such Person ceases to be a “tax-exempt entity” within the meaning of section 168(h)(2) of the Code or any successor provision thereto, by virtue of a change in such section or provision of the Code; or (ii) such Person ceases to be a “tax-exempt controlled entity” within the meaning of section 168(h)(6)(F) of the Code or any successor provision thereto, by virtue of a change in such section or provision of the Code.

Examples of Tax Exempt Person in a sentence

• The Borrower shall, and shall cause each of the Subsidiaries to, maintain its status for U.S. federal income tax purposes as represented in Section 5.20 of this Agreement and shall not recognize any transfer of an ownership interest in the Borrower if the direct owner is not a U.S. Person that is not a Tax Exempt Person.

• The Borrower shall, and shall cause each of the Subsidiaries to, maintain its status for U.S. federal income tax purposes as represented in Section 6.20 of this Agreement and shall not recognize any transfer of an ownership interest in the Borrower if the direct owner is not a U.S. Person that is not a Tax Exempt Person.

• Raven (or, if it is a “disregarded entity” for U.S. federal income Tax purposes, the entity treated as owning its assets for federal income Tax purposes) is a United States Person not subject to withholding under Section 1446 of the Code and is not a Tax Exempt Person.

• Except as provided in the XXX Documents, no tangible property of any Project Company is leased to a Tax Exempt Person.

• Each Relevant Party is treated for U.S. federal income tax purposes either as disregarded as an entity separate from its owner (as described in U.S. Treasury Regulations Section 301.7701-2(c)(2)(i)) or as a partnership (and not a publicly traded partnership as defined in Section 7704(b) of the Code) and each such owner or partnership for this purpose is a U.S. Person and not a Tax Exempt Person.

More Definitions of Tax Exempt Person

Tax Exempt Person means an organization that is exempt

Tax Exempt Person means an organization that is exempt from federal income tax under section 501(a) of the internal revenue code, except the following:

Tax Exempt Person means a person who is exempt from tax under Part I of the Tax Act. In addition, words and phrases used herein and defined in the BCBCA and not otherwise defined herein shall have the same meaning herein as in the BCBCA unless the context otherwise requires.

Tax Exempt Person. ’ means a person who is exempt from tax under Part I of the Tax Act.

Tax Exempt Person means a person who is exempt from tax under Part I of the Tax Act. "TSX" means the Toronto Stock Exchange.

Tax Exempt Person means a Person described in Section 1603(g) of the American Recovery and Reinvestment Act of 2009.

Tax Exempt Person means a person who is exempt from tax under Part I of the ITA;