Ineligible Property Clause Samples
Ineligible Property. The following types of property shall be fully taxable and ineligible for tax abatement: land; inventories; supplies; tools; furnishings and other forms of movable personal property; vehicles; watercraft; aircraft; housing; deferred maintenance investments; any improvements, including those to produce, store or distribute natural gas, fluids or gases, which are not integral to the operation of the facility; property which has an economic life of less than 15 years; property owned or used by the State of Texas or its political subdivisions or by any organization owned, operated or directed by a political subdivision of the State of Texas.
Ineligible Property. The following types of property shall remain fully taxable and ineligible for Tax Abatement: single family residential dwellings, land, inventory, supplies, tools, furnishings and other forms of movable personal property, property which has a productive life of less than 10 years and property owned or leased by a member of the city’s governing body or its planning and zoning commission.
Ineligible Property. Each Seller agrees that, after the Closing, such Seller will not, and will not cause any other Person to, take any action, enter into any transactions or acquire any property that would directly or indirectly cause, PT's Interests or PTG's Share to be or become "ineligible property" within the meaning of paragraph 88(1)(c) of the Tax Act.
Ineligible Property. The following types of property shall be fully taxable and ineligible for abatement:
1. Land,
Ineligible Property. None of Sellers have taken any action, entered into any transaction or acquired property, or caused any other Person to take any action, enter into any transaction or acquire any property, that would directly or indirectly cause PT's Interests or PTG's Share to be or become "ineligible property" within the meaning of paragraph 88(1)(c) of the Tax Act.