Deemed Loss definition

Deemed Loss means a deduction allowable in accordance with paragraph three; "equity", in relation to a company limited by shares, means-

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Deemed Loss. Event shall mean any of the following events (unless and until waived in writing by the Owner Participant):

Deemed Loss. Event shall mean any of the following events (unless waived by the Owner Participant, which waiver shall be in writing and may be either indefinite or for a specific period): (1) if at any time after the Closing Date and before the Lease Termination Date, the Owner Trustee or the Owner Participant, by reason of the ownership of the Undivided Interest or the Real Property Interest or any part thereof by the Lessor (or any beneficial interest therein by the Owner Participant) or the lease of the Undivided Interest or the Real Property Interest to the Lessee or any of the other transactions contemplated by the Transaction Documents (the tern Owner Participant, as used in this definition, not including any Transferee who at the time of transfer to such Transferee is a non-exempt entity of the type referred to in this definition, whether by reason of such ownership, lease, transactions or otherwise) shall be deemed by any Governmental Authority having jurisdiction to be, or shall become subject to regulation (other than Non-Burdensome Regulation) as, an "electric utility" or a "public utility" or a "public utility holding company" under any Applicable Law or by reason of any Governmental Action, and the effect thereof on the Lessor or the Owner Participant would be, in the sole judgment of either such Person, acting on advice of counsel, adverse, and the Owner Trustee and the Owner Participant have not waived application of this definition; except that if the Lessee, at its sole cost and expense, is contesting diligently and in good faith any action by any Governmental Authority which would otherwise constitute a Deemed Loss Event under this clause (1), such Deemed Loss Event shall be deemed not to have occurred so long as (i) such contest does not involve any danger of the foreclosure, sale, forfeiture or loss of, or the creation of any Lien on, the Undivided Interest, the Real Property Interest or any part thereof or any interest therein, (ii) such contest does not adversely affect the Undivided Interest, the Real Property Interest or any part thereof or any other property, assets or right. of the Lessor or the Owner Participant or the lien of the Indenture thereon, (iii) the Lessee shall have furnished the Owner Trustee, 6091.50.2831.55:2

Examples of Deemed Loss in a sentence

The Deemed Loss from any in kind distribution of Securities shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the Securities distributed over the fair market value of the Securities distributed (valued in accordance with paragraph 11.2).
The amount of any Deemed Gain or Deemed Loss on any Securities distributed in kind shall be added to or subtracted from (as the case may be) such taxable income or loss to the extent not taken into account under clause (d) above.
Immediately prior to any distribution in kind, the Deemed Gain or Deemed Loss of any Securities distributed shall be allocated to the Capital Accounts of the Members as Profit or Loss pursuant to Article 5.
An Event of Loss or a Deemed Loss Event shall not have been declared.
FNB agrees that unless a Default or an Event of Default has occurred and is continuing or an Event of Loss or Deemed Loss Event has occurred, FNB will not amend any of the payment terms of any Note, or take any action to refund any Note after the date of issue thereof pursuant to the terms of this Participation Agreement and the Indenture without the prior written consent of the Lessee.
Any such election shall be irrevocable as to the Lessee, but no such election shall be binding on the Lessor if, on the effective date thereof, an Event of Default shall have occurred and be continuing or an Event of Loss or a Deemed Loss Event shall have occurred.
The Trustee shall give notice to the Holders of the occurrence of any event of default or default under any Lease Indenture, and of every Event of Loss, Deemed Loss Event or Financial Event occurring under a Lease (as such terms are therein defined), but only to the extent the same shall actually be known by a Responsible Officer.
The Deemed Loss from any in kind distribution of Securities shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the Securities distributed over the fair market value of the Securities distributed (valued as of the date of distribution in accordance with paragraph 13.1).
The Deemed Loss from any in kind distribution of Securities shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the Securities distributed over the fair market value of the Securities distributed (valued as of the date of distribution in accordance with paragraph 12.1).
In the event the Owner Trustee shall have actual knowledge of an Indenture Event of Default, an Event of Default, a Deemed Loss Event or an Event of Loss, the Owner Trustee shall give prompt written notice thereof to the Owner Participant, the Lessee and the Indenture Trustee.

More Definitions of Deemed Loss

Deemed Loss means the occurrence of any of the of the following events: (i) on the Lease Commencement Date, a Change in Law shall have occurred that, in the reasonable judgment of the Owner Participant, would make the Owner Participant’s or the Owner Lessor’s participation in the Overall Transaction, illegal or subject any of them to any materially burdensome regulation or require the cancellation, termination or suspension of any Operative Document, (ii) within 15 days after the Lease Commencement Date, the Owner Participant and the Equity Investor shall not have received an opinion of tax counsel to the Owner Participant, addressed to the Owner Participant and the Equity Investor, consistent in scope with the opinion delivered pursuant to Section 3.1(o) of the Participation Agreement, (iii) within 15 days after the Lease Commencement Date, the Owner Participant shall have delivered a legal opinion to the Company that a Material Adverse Tax Law Change would or could reasonably be expected to render any of the Tax Assumptions inaccurate, (iv) on the Lease Commencement Date, the Company’s then-current corporate or indicative credit rating is not rated at least BBB- from S&P, Baa3 from ▇▇▇▇▇’▇ and BBB- from Fitch, (v) on or after the Lease Commencement Date, a Regulatory Event of Loss shall have occurred or (vi) on the Lease Commencement Date, a Change in Lease Accounting shall have occurred, the effect of which has not been minimized to the reasonable satisfaction of the Owner Participant on or before the two year anniversary of the Lease Commencement Date pursuant to the provisions of Section 10.3(e) of the Facility Lease.

Deemed Loss means, with respect to any in-kind distribution of assets, an amount equal to the excess, if any, of the fair market value of the asset distributed (valued as of the date of distribution in accordance with Section 11.2), over the aggregate Adjusted Asset Value of the assets distributed. The Deemed Loss from any in-kind distribution of assets shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the assets distributed over the fair market value of the assets distributed (valued as of the date of distribution in accordance with Section 11.2).

Deemed Loss from any in kind distribution of Securities shall be equal to the excess, if any, of the aggregate Adjusted Asset Value of the Securities distributed over the fair market value of the Securities distributed (valued as of the date of distribution in accordance with Section 12.1).

Deemed Loss shall have the meaning set forth in Section 7.2(b) hereof.