ATAX definition

ATAX means CSM’s proportionate share of the total income tax payable on shared income subject to income tax, which shall be based on CSM’s Shareholding Percentage, as well as 100% of income tax payable on any of CSM’s income subject to income tax.” Article 119A(5) shall be amended by deleting it in its entirety and substituting it with the following: “119A(5) The B Profit for a financial year shall be determined by applying the formula:- BP = BGS - BTMC - BO - BTAX where:-
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ATAX has the meaning set forth in the Recitals.
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Examples of ATAX in a sentence

  • ATAX does not contemplate the commencement of insolvency, bankruptcy, liquidation or consolidation proceedings or the appointment of a receiver, liquidator, conservator, trustee or similar official in respect of ATAX or any of its assets.

  • This Agreement has been duly authorized by ATAX, is valid and binding agreement of ATAX, and is enforceable in accordance with its terms except as may be limited by bankruptcy, insolvency, reorganization, moratoriums, liquidation or readjustment of debt or similar laws affecting the enforcement of creditors’ rights generally and as may be limited to the effect of general principles of equity.

  • ATAX (i) is a limited partnership duly organized and existing pursuant to the laws of the State of Delaware, (ii) has the corporate power and authority to own its properties and to carry on its business as now being conducted and as contemplated hereby, and (iii) has the corporate power and authority to execute and perform all of its undertakings hereunder.

  • ATAX will record the transaction as a sale from ATAX to the Sponsor; provided however, that due to consolidation of the Sponsor with ATAX under GAAP, the sale transaction will be presented on the consolidated financial statements of ATAX and the Sponsor as a secured financing for GAAP and, therefore, the Class A Certificates will be reported as debt on the consolidated financial statements of ATAX.

  • ATAX does not intend to incur, or believes that it has incurred, debts beyond its ability to pay such debts as they mature.

  • However, in the event that, notwithstanding the aforementioned intent of the parties, the Bonds are held to be property of ATAX, then, and exclusively and solely in such event, it is the express intent of the parties that such conveyance be deemed to be a pledge of the Bonds by ATAX to the Sponsor to secure a debt or other obligation of ATAX and this Agreement shall also be deemed to be a security agreement within the meaning of Articles 8 and 9 of the New York Uniform Commercial Code.

  • Immediately prior to the transfer to the Sponsor, ATAX is the owner of, and has good and marketable title to, the Bonds that it assigned to the Sponsor free and clear of all liens, and has full right, corporate power and lawful authority to assign, transfer and pledge such Bonds.

  • It is the express intention of the parties hereto that the Transfer of the Bonds by ATAX to the Sponsor be, and be construed as, an absolute sale and transfer to the Sponsor and not as a secured borrowing or a pledge of the Bonds by ATAX to the Sponsor to secure a debt or other obligation of ATAX.

  • ATAX TEBS I, LLC, a Delaware limited liability company By: AMERICA FIRST TAX EXEMPT INVESTORS, L.P., a Delaware limited partnership, Member By: AMERICA FIRST CAPITAL ASSOCIATES LIMITED PARTNERSHIP TWO, a Delaware limited partnership Its: General Partner By: THE BURLINGTON CAPITAL GROUP LLC, a Delaware limited liability company Its: General Partner By: /s/ M▇▇▇▇▇▇ ▇.

  • ATAX has received reasonably equivalent value and fair consideration for the Bonds that it assigned to the Sponsor.