Tax Incentive Program definition

Tax Incentive Program means any city, county or state tax abatement or reduction program pursuant to which a Person transfers property to an industrial development authority or other governmental or quasi-governmental entity for the principal purpose of obtaining a full or partial abatement or reduction in real and/or personal property taxes.
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Tax Incentive Program means any city, county or state tax abatement or reduction program pursuant to which the Borrower or any Restricted Subsidiary transfers its interest in or title to certain personal or real property to a development authority or other governmental or quasi-governmental entity for the principal purpose of obtaining a full or partial abatement or reduction in real and/or personal property taxes, it being understood and agreed that so long as title to such property is not held by the Borrower or a Restricted Subsidiary, the property shall be accounted for as an asset of the Borrower or a Restricted Subsidiary in accordance with GAAP; provided, that, in connection with any Tax Incentive Program, (i) the Borrower or applicable Restricted Subsidiary shall lease the personal or real property subject to such Tax Incentive Program back from such development authority or other governmental entity or quasi-governmental authority and maintain an option to repurchase such real or personal property for a nominal sum, and (ii) any transfer of personal or real property by the Borrower or applicable Restricted Subsidiary that at the time of such transfer is subject to any Lien in favor of the Collateral Agent securing the Obligations shall be made such that such Lien remains in effect, and the applicable governmental or quasi-governmental entity shall have acknowledged such Lien (a copy of which acknowledgment shall have been delivered to the Administrative Agent promptly following any such transfer).
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Tax Incentive Program means (i) the Payment in Lieu of Taxes Program sponsored by the Industrial Development Board ("IDB") of the City of Jackson, Tennessee pursuant to which JR Flexible (and after the Acquisition if approval is granted by the IDB, the Company) (a) transfers to the IDB real property and equipment associated with the Jackson, Tennessee operations in return for a non-interest bearing promissory note from the IDB, which promissory note represents the fair market value of the real property and equipment so transferred, (b) JR Flexible or the Company, as applicable, pays a fee in lieu of taxes to the IDB that is less than the taxes that it would otherwise pay if it were not participating in such Payment in Lieu of Taxes Program and (c) the IDB leases such real property and equipment back to JR Flexible or the Company, as applicable, pursuant to a lease that has no interest component and (ii) any other program sponsored by state or local governments, authorities or political subdivisions that is materially similar to the Payment in Lieu of Taxes Program and is equally beneficial from the Holders' perspective.
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Examples of Tax Incentive Program in a sentence

  • The Company has not received or been granted any tax rulings by any Israeli governmental or regulatory authority, including with respect to any “Approved Enterprise,” “Benefited Enterprise,” “Preferred Enterprise,” “Preferred Technology Enterprise” or “Special Preferred Technology Enterprise” status or benefits (collectively, “Tax Incentive Program”) and by Israeli laws and regulations and has not made any claims for tax benefits relating to any Tax Incentive Program.

  • Transactions or payments pursuant to the Tax Incentive Program shall not be considered sale and leaseback transactions hereunder.

  • Payments or arrangements pursuant to a Tax Incentive Program shall not constitute sale and leaseback transactions.

  • To the Company’s knowledge, no event has occurred, and no circumstance or condition exists, that would reasonably be expected to give rise to or serve as the basis for (i) the annulment, revocation, withdrawal, suspension, cancellation, recapture or modification of any Tax Incentive Program benefits, (ii) the imposition of any material limitation on any Tax Incentive Program benefits or (iii) a requirement that the Company return or refund any benefits provided under any Tax Incentive Program.

  • Seller or an Affiliate of Seller has prepared in good faith and duly filed or caused to be duly filed all Tax Returns and all documentation necessary to obtain and maintain the tax exemptions or incentives secured under the Louisiana Enterprise Zone Tax Incentive Program and the Louisiana Industrial Tax Exemption Program relating to the Business and the Purchased Assets and required to be filed by Seller or any of its Affiliates with any Governmental Authority.

  • Except as otherwise determined by the Committee, upon a Participant's termination of employment or service due to death or Disability: (i)With respect to an Award of Restricted Stock Units with a time-based Period of Restriction, the restrictions on the Ratable Portion of the Award will lapse, and those Restricted Stock Units will be free of restrictions and will not be forfeited.

  • Should any portion of the Services performed by Consultant be eligible for the Scientific Research and Experimental Development Tax Incentive Program (as such program Is defined by the Canada Revenue Agency) or any other equivalent tax credit or grant program which may be awarded in Canada, WSP retains the exclusive right to claim such incentive, tax credit or grant.

  • All information supplied by the Company or any of its subsidiaries with respect to applications or notifications relating to any Tax Incentive Program (including in connection with any Ruling) true, correct and complete when supplied to the appropriate authorities.

  • To the extent that participation in any Tax Incentive Program is approved after the date of this Lease, the Real Estate Taxes shall be adjusted equitably to reflect any tax savings obtained by Landlord in connection with such program.

  • PROGRAM It is hereby understood that the Seller, as developer as Twenty Mile Village, is in the process of making application to the Town of Xxxxxx to participate in their Enchanted Sales Tax Incentive Program (XXXXX).


More Definitions of Tax Incentive Program

Tax Incentive Program means the Payment in Lieu of Taxes Program sponsored by the Industrial Development Board ("IDB") of the City of Jackson, Tennessee, pursuant to which (a) real property and equipment associated with the Jackson, Tennessee, operations are transferred to the IDB in exchange for a non-interest bearing promissory note in an original amount equal to the fair market value of the property so transferred, (b) the IDB leases such transferred property to the Borrower pursuant to a lease having no interest component and providing for rental payments that match the payment terms of the related promissory note, and (c) the Borrower pays a fee to the IDB that is substantially less than the property taxes that it would otherwise pay if it were not participating in such Payment in Lieu of Taxes Program.
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Tax Incentive Program means the Payment in Lieu of Taxes Program sponsored by the Industrial Development Board ("IDB") of the City of Jackson, Tennessee, pursuant to which (a) real property and equipment associated with the Jackson, Tennessee, operations are transferred (or were transferred by Jamex Xxxer or an Affiliate thereof prior to the Closing Date) to the IDB in exchange for a non-interest bearing promissory note in an original amount equal to the fair market value of the property so transferred, (b) the IDB leases such transferred property to the Borrower pursuant to a lease having no interest component and providing for rental payments that match the payment terms of the related promissory note, and (c) the Borrower pays a fee to the IDB that is substantially less than the property taxes that it would otherwise pay if it were not participating in such Payment in Lieu of Taxes Program.
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Tax Incentive Program is defined in Section 4.14(r).
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Tax Incentive Program is defined in Section 3.14(r).
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Related to Tax Incentive Program

  • Tax Incentive has the meaning set forth in Section 3.13(g).

  • Long-Term Incentive Plan or “LTIP” means a plan providing compensation intended to motivate performance over a period greater than one financial year. LTIPs do not include option or SAR plans or plans for compensation through shares or units that are subject to restrictions on resale;

  • Bonus Plan means the Company’s management incentive plan or such other annual bonus plan in existence at the applicable time.

  • MIP has the meaning set forth in Section 3(b) of the Agreement.

  • SIP means Session Initiation Protocol.

  • AIP means the Company’s Annual Incentive Plan as it exists on the date hereof and as it may be amended, supplemented or modified from time to time or any successor plan.

  • Management Incentive Plan means the Company’s bonus program, as implemented by the Company’s board of directors from time to time and pursuant to which the Executive may receive incentive-based compensation at fiscal year end.

  • Clawback Eligible Incentive Compensation means all Incentive-based Compensation Received by an Executive Officer (i) on or after the effective date of the applicable Nasdaq rules, (ii) after beginning service as an Executive Officer, (iii) who served as an Executive Officer at any time during the applicable performance period relating to any Incentive-based Compensation (whether or not such Executive Officer is serving at the time the Erroneously Awarded Compensation is required to be repaid to the Company), (iv) while the Company has a class of securities listed on a national securities exchange or a national securities association, and (v) during the applicable Clawback Period (as defined below).

  • ICP means an installation control point being 1 of the following:

  • incentive plan award means compensation awarded, earned, paid, or payable under an incentive plan;

  • Incentive Compensation means any compensation that is granted, earned or vested based wholly or in part upon the attainment of a Financial Reporting Measure.

  • Incentive Plans means any incentive, bonus, deferred compensation or similar plan or arrangement currently or hereafter made available by Employer in which Executive is eligible to participate.

  • Other Incentive Award means an Award denominated in, linked to or derived from Shares or value metrics related to Shares, granted pursuant to Section 9.6 hereof.

  • Incentive Bonus means a bonus opportunity awarded under Section 9 pursuant to which a Participant may become entitled to receive an amount based on satisfaction of such performance criteria as are specified in the Award Agreement.