Replacement Property definition

Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.

Replacement Property means all property installed on the Land or in the buildings, improvements and personal property theretofore constituting part of the Project to the extent that Section 12- 44-60 of the Act permits such property to be included in the Project as replacement property.

Replacement Property means all property installed in or on the Land in substitution of, or as replacement for, any portion of the Project, but only to the extent that such property may be included in the calculation of the Negotiated FILOT pursuant to Section 5.01(f) hereof and Section 12-44-60 of the Code.

Examples of Replacement Property in a sentence

• The closing on any such Replacement Property must occur within the Exchange Period.

• All Replacement Property will be subject to this Master Leasing Agreement as Property.

• The requirement of the Qualified Intermediary to acquire the Replacement Property shall be satisfied when the Exchangor enters into a Contract for the acquisition of the Replacement Property and then assigns its rights under that Contract to the Qualified Intermediary, with the form and content of such assignment being subject to the Qualified Intermediary’s approval.

• The designation of the Xxxxxx Site as Section 6(f) Replacement Property.

• No such form will be acceptable unless the Seller of the Replacement Property acknowledges that the Qualified Intermediary’s liabilities in the event of any alleged breach are limited to the forfeiture of the xxxxxxx money previously deposited with that Seller, or the Seller’s agent.

More Definitions of Replacement Property

Replacement Property means any property acquired or constructed after the Investment Period as a replacement for any property theretofore forming a part of the Project and disposed of, or deemed disposed of, as provided in Section 5.2 hereof.

Replacement Property means property placed under the fee agreement to replace economic development property previously subject to the fee agreement, as provided in Section 12‑44‑60.

Replacement Property has the meaning set forth in Section 7.11.C hereof.

Replacement Property means any portion of the Project substituted for Released Property pursuant to Section 5.01(e) hereof.

Replacement Property means any property which is placed in service as a replacement for any Removed Component regardless of whether the Replacement Property serves the same functions as the Removed Component it is replacing and regardless of whether more than one piece of Replacement Property replaces a single Removed Component.

Replacement Property means all property placed in service on the Land in substitution of, or as replacement for, any Negotiated FILOT Property which becomes Released Property, regardless of whether such property serves the same function as the property it replaces and regardless of whether more than one piece of such property replaces a single piece of the Negotiated FILOT Property, to the maximum extent that such property may be included in the calculation of the Negotiated FILOT pursuant to Section 5.01(d) hereof and Section 12-44-60 of the Negotiated FILOT Act.

Replacement Property has the meaning specified in the definition of Like-Kind Exchange.