Applicable Fraction definition

Applicable Fraction means Applicable Fraction as defined in Section 42(c)(1)(B) of the IRC.
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Applicable Fraction means as provided by I.R.C. § 42(c)(1)(B).
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Applicable Fraction means the fraction, the numerator of which is the number of Tax Credit Units and the denominator of which is the total number of residential rental units less any unit exempted by Revenue Ruling 92-61; or the fraction, the numerator of which is the floor space of the Tax Credit Units and the denominator of which is the total floor space of the residential rental units less any unit exempted by Revenue Ruling 92-61, whichever is less. The Eligible Basis of a building is multiplied by the Applicable Fraction to determine the Qualified Basis of a building for Tax Credit purposes.
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Examples of Applicable Fraction in a sentence

  • Applicable Fraction means, in relation to a Ship and as at any date, a fraction having a numerator equal to an amount equal to the market value of such Ship determined in accordance with clause 25 (Minimum security value) and a denominator equal to the aggregate of the market values as at the relevant date of all of the Ships (including such Ship) determined in accordance with clause 25 (Minimum security value).


More Definitions of Applicable Fraction

Applicable Fraction means the fraction defined in Section 42(c)(1)(B) of the Code.
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Applicable Fraction means the smaller of the Unit Fraction or the Floor Space Fraction, all calculated in accordance with Section 42(c)(1) of the Code.
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Applicable Fraction. With respect to each Pool 1 Mortgage Loan and either of Collateral Group 1 or Collateral Group 2, the fraction set forth in Section 1.03, or such fraction multiplied by the Principal Balance of such Mortgage Loan, as the context requires.
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Applicable Fraction means the fraction used to determine the qualified basis of a qualified low-income Building which is the smaller of the Unit Fraction or the Floor Space Fraction.
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Applicable Fraction means a fraction, the numerator of which is the number of days elapsed from the Grant Date of an Award to the date of the Participant’s termination of Service and the denominator of which is the number of days between the Grant Date and the date the Award was scheduled to become exercisable or otherwise vest.
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Applicable Fraction. For each Mortgage Loan and REMIC I-1, shall be calculated as follows: · For Collateral Group 1-P and each Group 1 Discount Loan: · For Collateral Group 1 and each Group 1 Discount Loan:
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Applicable Fraction. For each Mortgage Loan and REMIC LT1, shall be calculated as follows: · For Collateral Group 1 and each Mortgage Loan in Loan Group 1 with a Net Rate greater than or equal to 5.00% per annum, but less than 5.50% per annum: · For Collateral Group 2 and each Mortgage Loan in Loan Group 1 with a Net Rate greater than or equal to 5.00% per annum, but less than 5.50% per annum: 1 minus é 5.50% minus the Net Rate on such Mortgage Loan ù ë 0.50% û; · For Collateral Group 2 and each Mortgage Loan in Loan Group 1 with a Net Rate greater than or equal to 5.50% per annum, but less than 6.00% per annum: · For Collateral Group 3 and each Mortgage Loan in Loan Group 1 with a Net Rate greater than or equal to 5.50% per annum, but less than 6.00% per annum: 1 minus é 6.00% minus the Net Rate on such Mortgage Loan ù ë 0.50% û; · For Collateral Group 3 and each Mortgage Loan in Loan Group 1 with a Net Rate greater than or equal to 6.00% per annum, but less than 7.00% per annum:
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