1954 Code definition

1954 Code means the Internal Revenue Code of 1954, as amended.

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1954 Code means the Internal Revenue Code of 1954, as amended. Each reference to a section of the 1954 Code herein shall be deemed to include the United States Treasury Regulations, including temporary and proposed regulations, relating to such section which are applicable to the Bonds or the use of the proceeds thereof.

1954 Code means the Internal Revenue Code of 1954, as amended, as in effect on the effective date of the Code.

Examples of 1954 Code in a sentence

• Without limiting the foregoing, the parties hereto agree to treat this Agreement as a lease for United States federal income tax purposes and Lessee will not file a tax return which is inconsistent with the foregoing and nothing contained herein shall be construed as an election by Lessor to treat Lessee as having acquired the Aircraft for the purpose of the investment credit allowed by Section 38 of the 1954 Code or any similar or successor statute.

• To that end, the Issuer and the Company will also comply with all requirements of the Code and the 1954 Code to the extent applicable to the Bonds.

• The Company covenants and agrees that it has not taken or permitted and will not take or permit any action which results in interest paid on the Bonds being included in gross income of the holders or beneficial owners of the Bonds for purposes of federal income taxation (other than a holder or beneficial owner who is a "substantial user" of the Project or a "related person" within the meaning of Section 103(b)(13) of the 1954 Code).

• The Bonds shall be redeemed either in whole or in part in such principal amount that, in the opinion of Bond Counsel, the interest payable on the Bonds, including the Bonds remaining outstanding after such redemption, would not be included in the gross income of any owner thereof, other than an owner of a Bond who is a "substantial user" of the Facilities or a "related person" within the meaning of Section 103(b)(13) of the 1954 Code.

• The Bonds shall be redeemed either in whole or in part in such principal amount that, in the opinion of Bond Counsel, the interest payable on the Bonds, including the Bonds remaining outstanding after such redemption, would not be included in the gross income of any owner thereof, other than an owner of a Bond who is a “substantial user” of the Facilities or a “related person” within the meaning of Section 103(b)(13) of the 1954 Code.

More Definitions of 1954 Code

1954 Code means the Internal Revenue Code of 1954, as amended, and the applicable Treasury Regulations thereunder.

1954 Code means the Internal Revenue Code of 1954, as in effect on the day prior to the effective date of the Code.

1954 Code has the meaning set forth in Section 6.14(a)(iii).

1954 Code means the Internal Revenue Code of 1954, as amended, as in effect on August 1, 1986.

1954 Code shall have the meaning set forth in Section 3.17(c).

1954 Code means the Internal Revenue Code of 1954, as amended, and any regulations thereunder.

1954 Code means the Internal Revenue Code of 1954, as amended, and any rules and regulations promulgated thereunder.