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 Tax Incentive Program is codified at O.C.G.A. §48-7-38 and is managed by the Georgia Department of Revenue.

  • An additional ~$20M of capital has been received through Canadian government funding programs including Sustainable Development Technology Canada (SDTC), the Scientific Research and Experimental Development Tax Incentive Program ( SR&ED), and the Industrial Research Assistance Program (NRC-IRAP).Since 2014, General Fusion has invested over $350,000 in university researchers and students, leveraging federal programs to result in over $500,000 in funding.

  • South Carolina Renewable Energy Tax Incentive Program' as contained in this section to encourage business investment that will produce high quality employment opportunities and enhance this State's position as a center for production and use of renewable energy products.

  • Municipalities may also apply to the Province to provide matching education property tax assistance through the Province’s Brownfields Financial Tax Incentive Program (BFTIP).

  • County staff may apply for Provincial Tax Assistance, on behalf of the owner, to cancel or freeze all or a portion of the education portion of property taxes (i.e., the Ontario Brownfields Financial Tax Incentive Program).

  • 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.

  • The site has been decommissioned but may require works associated with the removal of the old building foundations.• Continue to support arterial commercial uses with the promotion of building design and site layout that is complimentary to the northern gateway to the downtown core.• Promote the remediation of contamination on, in or under theproperty.• Provide an opportunity for combining funding through the provincial Brownfield Financial Tax Incentive Program.

  • Task #4 Manage the EDIP Tax Incentives Program Manage the Economic Development (Tax) Incentive Program (EDIP) and administer the Northern Worcester County Economic Target Area (NWCETA) program.

  • The objective of the program is designed to mirror the operation of the federal Scientific Research and Experimental Development Tax Incentive Program, and both programs are administered by the CRA.

  • The Act establishes the Life Sciences Investment Program as well as the Life Sciences Tax Incentive Program pursuant to chapter 23I of the General Laws.


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 (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 3.14(r).
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Tax Incentive Program shall have the meaning ascribed to such term in Section 3(ww).
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Tax Incentive Program is defined in Section 4.14(r).
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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 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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Related to Tax Incentive Program

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

  • Annual Incentive Plan means the Cinergy Corp. Annual Incentive Plan or any similar plan or successor to the Annual Incentive Plan.

  • STIP means the Company’s short-term incentive plan under Section 8 of the Company’s 2007 Omnibus Incentive Plan, effective May 8, 2007, as may be amended from time to time, or any successor plan, program or arrangement thereto.

  • Long-Term Incentive Award means an Award described in Section 6(g) hereof that is based upon a period in excess of one year.

  • 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;

  • Annual Incentive Award means an Award made subject to attainment of performance goals (as described in Section 14) over a performance period of up to one year (the Company’s fiscal year, unless otherwise specified by the Committee).

  • Incentive Compensation Plan means any plan, agreement or other arrangement that provides for the grant or issuance of equity or equity-based awards and that is now in effect or is hereafter adopted by the Company or the Manager for the benefit of any of their respective employees or other service providers (including directors, advisers and consultants), or the employees or other services providers (including directors, advisers and consultants) of any of their respective Affiliates or Subsidiaries.

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

  • Incentive Compensation Plans means annual incentive compensation plans and long‑term incentive compensation plans of the Company, which long‑term incentive compensation plans may include plans offering stock options, restricted stock and other long‑term incentive compensation.

  • Average Incentive Compensation means the average of the annual incentive compensation under Subparagraph 3(a) received by Executive for the three (3) immediately preceding fiscal years or such fewer number of complete fiscal years as Executive may have been employed by the Company. In no event shall “Average Incentive Compensation” include any sign-on bonus, retention bonus or any other special bonus. Notwithstanding the foregoing, if the Executive breaches any of the provisions contained in Paragraphs 4 and 5 of this Agreement, all payments of the Severance Amount shall immediately cease. Notwithstanding the foregoing, in the event Executive terminates his employment for Good Reason as provided in Subparagraph 6(e), he shall be entitled to the Severance Amount only if he provides the Notice of Termination provided for in Subparagraph 6(f) within thirty (30) days after the occurrence of the event or events which constitute such Good Reason as specified in clauses (A), (B), (C), (D), (E) and (F) of Subparagraph 6(e);

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

  • Company Incentive Plan shall have the meaning assigned to it in Section 1.7 hereof.

  • SIP means Session Initiation Protocol.

  • Share Incentive Plan means any one of the foregoing plans.

  • AIP means the Nucor Corporation Senior Officers Annual Incentive Plan and any successor plan.

  • Incentive Management Fee shall have the meaning set forth in Section 9.2(e) hereof.

  • 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).

  • Incentive Compensation Awards means awards granted under Incentive Compensation Plans providing the Executive with the opportunity to earn, on a year‑by‑year basis, annual and long‑term incentive compensation.

  • Annual Award means the cash payment paid or payable to the Executive with respect to a fiscal year under the Corporation's Incentive Compensation Performance Plan.

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

  • Omnibus Plan means the Hanesbrands Inc. Omnibus Incentive Plan of 2006, as amended from time to time, and any successor plan or plans. The long-term incentive described in this section (“Long-Term Cash Incentive Plan”) includes cash long-term incentives, but does not include stock options, RSUs, or other equity awards. Such amounts shall be payable as provided in section 2(c). Treatment of stock options, RSUs, or other equity awards shall be determined pursuant to the Executive’s award agreement(s). Executive shall not be eligible for any new Annual Incentive Plan grants, Long-Term Cash Incentive Plan grants, or any other grants of stock options, RSUs, or other equity awards under the Omnibus Plan during the Severance Period.

  • 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.

  • LTIP Award means each or any, as the context requires, LTIP Award issued under any Equity Incentive Plan.