Incurred Indebtedness definition

Incurred Indebtedness shall have the meaning set forth in the Tax Protection Agreement.
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Incurred Indebtedness means indebtedness which qualifies as Qualified Guarantee Indebtedness and meets the additional requirements of Section 3.2(vii) and (viii) which is incurred by the Partnership to fund a "debt financed distribution" to a Protected Partner within the meaning of Treasury Regulation Section 1.707-5(b) as further described in Section 3.2 hereof and Section 2 of the Contribution Agreement.
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Examples of Incurred Indebtedness in a sentence

  • If an Incurred Indebtedness is at the end of the (48) month period refinanced with Qualified Guarantee Indebtedness which is not Incurred Indebtedness, then such Allocable Share of Incurred Indebtedness shall be considered a Minimum Liability Amount and Schedule 3.1 shall be amended accordingly.

  • If, and to the extent that, a Partner Guarantor elects to guarantee Qualified Guarantee Indebtedness pursuant to an offer made in accordance with this Article 3 or guarantees Incurred Indebtedness, such indebtedness thereafter shall be considered a Guaranteed Debt and subject to all of this Article 3.

  • Each Joining Party has Incurred Indebtedness or has guaranteed or secured Indebtedness of MGM, and as such is required by the terms thereof to become a party to the Guarantees (capitalized terms used but not defined herein having the meaning ascribed to such terms in the 6.750% Indenture).

  • Each Joining Party has Incurred Indebtedness or has guaranteed or secured Indebtedness of MGM, and as such is required by the terms thereof to become a party to the Guarantees (capitalized terms used but not defined herein having the meaning ascribed to such terms in the 6.500% Indenture).

  • Each Joining Party has Incurred Indebtedness or has guaranteed or secured Indebtedness of MGM, and as such is required by the terms thereof to become a party to the Guarantees (capitalized terms used but not defined herein having the meaning ascribed to such terms in the 5.750% Indenture).

  • Each Joining Party has Incurred Indebtedness or has guaranteed or secured Indebtedness of MGM, and as such is required by the terms thereof to become a party to the Guarantees (capitalized terms used but not defined herein having the meaning ascribed to such terms in the 7.75% Indenture).

  • TRCALP shall have the right to approve in its reasonable discretion any indebtedness which is intended to be treated as Incurred Indebtedness and the proceeds of which shall be used to pay the TRCALP Cash Consideration, the Alternate Cash Consideration or the Deferred Payments.

  • Contributor shall have the right to approve any indebtedness which is intended to be treated as Incurred Indebtedness and the proceeds of which shall be used to fund the Cash Consideration.

  • As more completely set forth hereinafter and in the Tax Protection Agreement: (x) up to approximately $34,750,000 of the Cash Consideration shall, at the election of the Contributor, be funded from and out of the proceeds of the Incurred Indebtedness, and (y) the balance of the Cash Consideration shall be treated by the parties as a reimbursement of preformation expenses within the meaning of Treasury Regulation §1.707-4(d).

  • Each Joining Party has Incurred Indebtedness or has guaranteed or secured Indebtedness of MGM, and as such is required by the terms thereof to become a party to the Guarantees (capitalized terms used but not defined herein having the meaning ascribed to such terms in the 4.750% Indenture).