Private Business Use Sample Clauses

Private Business Use. The City shall assure that the Athletic Fields and the Improvements are not used by third parties as to cause the Lease to satisfy the private business tests of Section 141(b) of the Internal Revenue Code of 1986 (the “Code”) as in effect on the date of execution of this Agreement or the private loan financing test of Section 141(c) of the Code.
Sample 1
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Private Business Use. So long as any Series 2023 Bonds remain outstanding under the Code, the Manager agrees that it will manage the Xxxxx Port Public Roadway in such a manner that at least 90% of the Net Proceeds of the Series 2023 Bonds utilized for Xxxxx Port Public Roadway will be treated as used, directly or indirectly, in activities that do not constitute a Private Business Use; not more than 10% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway will be treated under the Code as used, directly or indirectly, in a Private Business Use; and not more than 5% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway will be treated under the Code as used, directly or indirectly, in a Private Business Use that is not directly related to the use of the Xxxxx Port Public Roadway for the Roadway Function. The Manager will not enter into any contract or other arrangement that would cause more than 10% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway to be treated under the Code as used, directly or indirectly, in a Private Business Use, or more than 5% of the proceeds of the Series 2023 Bonds utilized for the Xxxxx Port Public Roadway to be treated under the Code as used, directly or indirectly, in a Private Business Use that is not directly related to the use of the Xxxxx Port Public Roadway as public infrastructure improvements. The Manager may depart from its covenants in this subparagraph (c) only if and to the extent requested in writing by the Manager and approved in writing by the Port Authority and if a No Adverse Effect Opinion, describing the extent to which the Manager may depart from such covenants, is obtained, which shall be at the sole cost and expense of the Manager, and delivered to the Port Authority and the Trustee.
Sample 1
Private Business Use. 8 Section 2.2. Registration 8 Section 2.3. [RESERVED] 8 Section 2.4. Change of Use 8 Section 2.5. 120 Percent Maturity Limitation 9
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Private Business Use. During the term of the Notes, the City reasonably expects that:
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Private Business Use. With respect to the use of the facilities financed or refinanced with the proceeds of the Bonds the Responsible Person will:
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Private Business Use a. If entering into a contract for the use of or lease of space of any portion of a University building or outdoor space and the third party will use the space for its business use (i.e. not personal use)
Sample 1

Related to Private Business Use

  • Separate Business CAC shall not: (i) fail to maintain separate books, financial statements, accounting records and other corporate documents from those of Funding; (ii) commingle any of its assets or the assets of any of its Affiliates with those of Funding (except to the extent that CAC acts as the Servicer of the Loans); (iii) pay from its own assets any obligation or indebtedness of any kind incurred by Funding (or the Trust); and (iv) directly, or through any of its Affiliates, borrow funds or accept credit or guaranties from Funding.

  • The Business The parties acknowledge that the Company is engaged in the development, marketing and sale of certain proprietary technologies, processes and related products in the areas of chemical detection, technical processes, and technical/business services, and that the Company may also from time to time become or may intend to become engaged in other business endeavors (individually and collectively, the "BUSINESS"). The Company shall be deemed to intend to become engaged in a business endeavor if it has devoted or expended any significant resources, either financial or human resources, towards the proposed endeavor, either in planning or implementing the undertaking of such planned endeavor.

  • Outside Businesses Subject to the provisions of Section 6.3, any Covered Person, the Sponsor, the Delaware Trustee and the Property Trustee may engage in or possess an interest in other business ventures of any nature or description, independently or with others, similar or dissimilar to the activities of the Trust, and the Trust and the Holders of Securities shall have no rights by virtue of this Trust Agreement in and to such independent ventures or the income or profits derived therefrom, and the pursuit of any such venture, even if competitive with the activities of the Trust, shall not be deemed wrongful or improper. No Covered Person, the Sponsor, the Delaware Trustee or the Property Trustee shall be obligated to present any particular investment or other opportunity to the Trust even if such opportunity is of a character that, if presented to the Trust, could be taken by the Trust, and any Covered Person, the Sponsor, the Delaware Trustee and the Property Trustee shall have the right to take for its own account (individually or as a partner or fiduciary) or to recommend to others any such particular investment or other opportunity. Any Covered Person, the Delaware Trustee and the Property Trustee may engage or be interested in any financial or other transaction with the Sponsor or any Affiliate of the Sponsor, or may act as depositary for, trustee or agent for, or act on any committee or body of holders of, securities or other obligations of the Sponsor or its Affiliates.

  • Assumed Business Names Borrower has filed or recorded all documents or filings required by law relating to all assumed business names used by Borrower. Excluding the name of Borrower, the following is a complete list of all assumed business names under which Borrower does business: None.

  • General Business Operations Each of the Loan Parties shall (i) preserve, renew and maintain in full force its legal existence and good standing under the Governmental Rules of the jurisdiction of its organization and each other jurisdiction where the failure to so preserve, renew or maintain could result in a Material Adverse Effect, and all of its rights, licenses, leases, qualifications, privileges franchises and other authority reasonably necessary to the conduct of its business, (ii) conduct its business activities in compliance with all Legal Requirements and Contractual Obligations applicable to such Person, (iii) keep all Property useful and necessary in its business in good working order and condition, ordinary wear and tear excepted and from time to time make, or cause to be made, all necessary and proper repairs, except, in each case, where any failure, either individually or in the aggregate, could not reasonably be expected to have a Material Adverse Effect, (iv) maintain, preserve and protect all of its rights to enjoy and use material trademarks, trade names, service marks, patents, copyrights, licenses, leases, franchise agreements and franchise registrations (v) conduct its business in an orderly manner without voluntary interruption. The Borrower shall maintain its chief executive office and principal place of business in the United States.

  • Non-Company Business Except with the prior written consent of the Board, Executive will not during the term of Executive’s employment with the Company undertake or engage in any other employment, occupation or business enterprise, other than ones in which Executive is a passive investor. Executive may engage in civic and not-for-profit activities so long as such activities do not materially interfere with the performance of Executive’s duties hereunder.

  • Competitive Business Activities The term "Competitive Business Activities" as used herein shall be deemed to mean the Business.

  • Purpose and Business The purpose and nature of the business to be conducted by the Partnership shall be to (a) engage directly in, or enter into or form, hold and dispose of any corporation, partnership, joint venture, limited liability company or other arrangement to engage indirectly in, any business activity that is approved by the General Partner and that lawfully may be conducted by a limited partnership organized pursuant to the Delaware Act and, in connection therewith, to exercise all of the rights and powers conferred upon the Partnership pursuant to the agreements relating to such business activity, and (b) do anything necessary or appropriate to the foregoing, including the making of capital contributions or loans to a Group Member; provided, however, that the General Partner shall not cause the Partnership to engage, directly or indirectly, in any business activity that the General Partner determines would be reasonably likely to cause the Partnership to be treated as an association taxable as a corporation or otherwise taxable as an entity for federal income tax purposes. To the fullest extent permitted by law, the General Partner shall have no duty or obligation to propose or approve the conduct by the Partnership of any business and may decline to do so free of any fiduciary duty or obligation whatsoever to the Partnership or any Limited Partner and, in declining to so propose or approve, shall not be required to act in good faith or pursuant to any other standard imposed by this Agreement, any Group Member Agreement, any other agreement contemplated hereby or under the Delaware Act or any other law, rule or regulation or at equity and the General Partner in determining whether to propose or approve the conduct by the Partnership of any business shall be permitted to do so in its sole and absolute discretion.

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