Tax Equity Transaction means, with respect to Seller, any transaction or series of transactions pursuant to which (i) a Person either (A) obtains less than one hundred percent (100%) of the equity interests in Seller or any entity that has an interest in Seller in connection with a partnership flip transaction or (B) obtains all of the equity interests in Seller in connection with a lease, inverted lease or sale-leaseback transaction (in either case, such Person is a “Tax Equity Investor”), (ii) such transaction or series of transactions does not result in a change in Control of Seller, subject to the Tax Equity Investor’s right to vote in any major decision with respect to Seller, and (iii) Seller retains control of the Facility.

Tax Equity Transaction means, with respect to Seller, any transaction or series of transactions pursuant to which (i) a Person either (A) obtains less than one hundred percent (100%) of the equity interests in Seller or any entity that has an interest in Seller in connection with a partnership flip transaction or (B) obtains all of the equity interests in Seller in connection with a sale leaseback transaction (in either case, such Person, a “Tax Equity Investor”), (ii) an Indirect Parent Entity, directly or through one or more of its Affiliates retains Control of Seller, subject to the Tax Equity Investor’s right to vote in any major decision with respect to Seller, as provided in the transaction documents, and

Tax Equity Transaction means, with respect to Seller, any transaction or series of transactions pursuant to which (i) a Person either (A) obtains less than one hundred percent (100%) of the equity interests in Seller or any entity that has an interest in Seller in connection with a partnership flip transaction or (B) obtains all of the equity interests in Seller in connection with a sale leaseback transaction (in either case, such Person, a “Tax Equity Investor”), (ii) an Indirect Parent Entity, directly or through one or more of its Affiliates retains Control of Seller, subject to the Tax Equity Investor’s right to vote in any major decision with respect to Seller, as provided in the transaction documents, and (iii) Seller retains control of the Facility.

Examples of Tax Equity Transaction in a sentence

Any Loan Party fails to observe or perform any obligation under or otherwise breaches any representation, warranty, term or condition of the Tax Equity Transaction Documents, in either case the effect of which could reasonably be expected to have a Material Adverse Effect.
All of the Tax Equity Transaction Documents for each Tax Equity Transaction that are in effect on the Closing Date are set forth on Schedule 5.19, and true, complete and correct copies of all such Tax Equity Transaction Documents have been delivered to the Administrative Agent.
In addition, Borrower and the Project Guarantors shall cause each of the Project Companies to maintain any insurance that such Project Company is required to maintain pursuant to the terms and conditions of the Tax Equity Transaction Documents.
During the Term, GEV IA shall provide ongoing asset management services and operational support to Parent and the Parent Investors as set forth in Appendix G (a) for each Pre-Existing Investment and (b) for each Tax Equity Investment following the execution of the applicable Tax Equity Transaction Documents.
Any such letter of intent entered into during the Term shall be deemed a Tax Equity Investment, regardless of whether any other Tax Equity Transaction Documents are entered into with the applicable Specified Sponsor in relation thereto.

More Definitions of Tax Equity Transaction

Tax Equity Transaction means a transaction or series of transactions involving one or more investors, purchasers or lessees seeking a return that is enhanced by tax benefits of the production tax credits provided for in Section 45 of the Code, the investment tax credits provided for in Section 48 of the Code or similar federal tax credit, attribute, benefit or incentive mechanism.

Tax Equity Transaction means any agreement or arrangement entered into between a Company Entity and another Person for the purpose of such other Person receiving Tax credits or other Tax benefits generated from one or more of the Projects.

Tax Equity Transaction means the transaction involving the entrance of Sunnova TEP I, LLC, Sunnova TEP I Holdings, LLC, Sunnova TEP I Developer, LLC, Sunnova TE Management I, LLC, Sunnova TEP I Manager, LLC and Firstar Development, LLC, into certain agreements, including the Master Development, Purchase and Sale Agreement dated March 2, 2017, and Sunnova TEP I, LLC’s Amended and Restated Limited Liability Company Agreement dated March 2, 2017, relating to a tax equity financing with a commitment of approximately $80 million, and any similar future tax equity financings involving any Subsidiary and a third-party investor (including pursuant to which the Issuer provides a performance guarantee).

Tax Equity Transaction means a transaction in which the tax attributes generated from the Project are monetized by the tax equity member(s).

Tax Equity Transaction means a transaction pursuant to Tax Equity Documents providing for an investment by Class B Member and one or more tax equity investors in TE Partnership pursuant to which the tax equity investors will receive the issuance or transfer of membership interests in TE Partnership that entitle the tax equity investors to an allocation of substantially all of the ITCs, other federal tax credits and/or losses generated by the Project until the tax equity investors achieve an agreed after-tax internal rate of return.

Tax Equity Transaction means each of the entities set forth on Section 1.01(c) of the Company Disclosure Letter, which list includes any entity that is involved in a tax equity partnership flip transaction, lease pass-through transaction or sale leaseback transaction.