Directly derived Sample Clauses

Directly derived. For purposes of this paragraph (c)(5)(iii)(B), gross re- ceipts directly derived in the ordinary course of business includes gain (as well as interest income) with respect to loans originated in a lending business, or interest income (as well as gain) from debt obligations of a dealer in such obligations. However, interest earned from the investment of idle funds in short-term securities does not constitute gross receipts directly de- rived in the ordinary course of busi- ness. Similarly, a dealer’s income or gain from an item of property is not di- rectly derived in the ordinary course of its trade or business if the dealer held the property for investment at any time before the income or gain is rec- ognized.
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Directly derived. For purposes of this paragraph (c)(5)(iii)(B), gross re- ceipts directly derived in the ordinary course of business includes gain (as well as interest income) with respect to loans originated in a lending business, or interest income (as well as gain) from debt obligations of a dealer in such obligations. However, interest earned from the investment of idle funds in short-term securities does not constitute gross receipts directly de- rived in the ordinary course of busi- ness. Similarly, a dealer’s income or gain from an item of property is not di- rectly derived in the ordinary course of its trade or business if the dealer held the property for investment at any time before the income or gain is rec- ognized. (C) Payment to a patron of a coopera- tive. Passive investment income does not include amounts included in the gross income of a patron of a cooperative (within the meaning of section 1381(a), without regard to paragraph (2) (A) or
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Related to Directly derived

  • Directly or Indirectly Where any provision in this Agreement refers to action to be taken by any Person, or which such Person is prohibited from taking, such provision shall be applicable whether such action is taken directly or indirectly by such Person.

  • Proceeds The Company shall use the proceeds from the issuance and sale of the Securities as set forth in “Use of Proceeds to issuer” in the Offering Circular.

  • From The Board of Directors (the “Board”) of the [insert name of License Holder] (the “HSP”) For: [insert name of Home] (the “Home”) Date: [insert date] The Board has authorized me, by resolution dated [insert date], to declare to you as follows: After making inquiries of the [insert name and position of person responsible for managing the Home on a day to day basis, e.g. the Chief Executive Office or the Executive Director] and other appropriate officers of the Health Service Provider (the “HSP”) and subject to any exceptions identified on Appendix 1 to this Declaration of Compliance, to the best of the Board’s knowledge and belief, the HSP has fulfilled, its obligations under the long-term care home service accountability agreement (the “Agreement”) in effect during the Applicable Period. Without limiting the generality of the foregoing, the HSP confirms that:

  • Escrow Agent Not Responsible for Furnished Information The Escrow Agent will have no responsibility for seeking, obtaining, compiling, preparing or determining the accuracy of any information or document, including the representative capacity in which a party purports to act, that the Escrow Agent receives as a condition to a release from escrow or a transfer of escrow securities within escrow under this Agreement.

  • Affiliates The Borrower will not, and will not permit any Subsidiary to, enter into any transaction (including, without limitation, the purchase or sale of any Property or service) with, or make any payment or transfer to, any Affiliate except in the ordinary course of business and pursuant to the reasonable requirements of the Borrower's or such Subsidiary's business and upon fair and reasonable terms no less favorable to the Borrower or such Subsidiary than the Borrower or such Subsidiary would obtain in a comparable arms-length transaction.