Like-Kind definition
Like-Kind means space with a ceiling height no less than that provided in the Premises, and otherwise as similar to the Premises as reasonably possible. If Tenant shall elect to require Landlord to provide such alternative space to Tenant, then (i) Landlord shall reimburse Tenant for all reasonable costs incurred by Tenant in relocating merchandise to such alternative space, (ii) commencing from and after the date of possession of such alternative space is provided to Tenant, Tenant shall pay to Landlord Fixed Rent and additional charges for such alternative space in accordance with the amounts required be paid by Tenant herein with respect to the Premises, and (iii) Landlord, at its sole cost and expense, shall pay any rent or additional charges required to be paid with respect to such alternative space in excess of the amounts required to be paid by Tenant herein. Commencing on the date Tenant takes possession of the Remaining Option Space, the Remaining Option Space shall be deemed incorporated into and made a part of the "Premises" for all purposes under this Lease, and all terms and conditions of this Lease shall be applicable to the Remaining Option Space. The options provided in this Section 20.1 shall remain in full force and effect notwithstanding Tenant's right of first refusal under Section 20.2 below. After exercising any such option, unless such option is otherwise terminated in accordance with the terms of this Section 20.1, Tenant shall not have the right to withdraw any option exercised by Tenant herein as a result of the exercise by Tenant of Tenant's right of first refusal provided under Section 20.2 below.
Like-Kind. Exchanges shall mean an Exchanges of assets of the nature contemplated by the provisions of Section 1031 of the Code. Loss and Expense shall have the meaning given to it in Section 8.2. material or materiality for the purposes of this Agreement, shall, unless specifically stated to the contrary, be determined without regard to the fact that various provisions of this Agreement set forth specific dollar amounts. Material Agreement shall mean, with respect to any Person, any Contractual Obligation which is in effect on the date hereof and (a) was not entered into in the ordinary course of business, (b) was entered into in the ordinary course of business which (i) involved annual consideration of more than Ten Thousand Dollars ($10,000) during any of the last three fiscal years, (ii) extends for more than three (3) months, or (iii) is not terminable on thirty (30) days or less notice without penalty or other continuing financial obligation, (c) involves Indebtedness for Money Borrowed, (d) is an employment agreement, (e) is or otherwise constitutes a written agency, broker, dealer, license, distributorship, sales representative or similar written agreement, or (f) accounted for more than three percent (3%) of the revenues of the American Stations or the Jacor Stations in any of the last three fiscal years or is likely to account for more than three percent (3%) of revenues of the American Stations or the Jacor Stations during the current fiscal year.
Like-Kind means character or class of property. Definition is broad. Depreciable for non-depreciable, commercial for residential OK
Examples of Like-Kind in a sentence
Notwithstanding anything to the contrary set forth herein or in the Vehicle Trust Agreement, amounts in the escrow account established pursuant to the Like-Kind Exchange Program shall not be subject to any lien so long as there is no Indenture Default under the Indenture.
The Electing Party shall bear its own expenses in connection with any such election to engage in a Like-Kind Exchange.
Buyer shall have the right to assign this Agreement without consent of Seller, prior to closing, in order to affect a Like-Kind §1031 Tax-Free Exchange at no additional cost to Seller.
Neither Party represents to the other that any particular Tax treatment will be given to either Party as a result of such Like-Kind Exchange.
If either party elects to engage in a Like-Kind Exchange, the party so electing (the “Electing Party”) shall notify the other party of its election in writing no later than five (5) days prior to the Closing, identifying those Station Assets that it intends to qualify as part of the Like-Kind Exchange.
More Definitions of Like-Kind
Like-Kind means property of the same class and kind and
Like-Kind means that each Release Property and its corresponding Substitute Property shall be hotel properties with substantially the same level of services and amenities, each having franchises from nationally-recognized hotel franchisors, and with net cash flow and property valuations that are in the aggregate substantially similar, unless any of such consistent characteristics is waived by Lender.
Like-Kind mean? According to IRC 1.1031(a)-1(b) “like-kind” is more of the “nature” and “character” of the property than its grade or quality. For example, if the property sold is a 4-unit apartment building then most likely under a 1031 exchange the seller will be required to buy residential housing. The two (2) properties must have generic similarities. Required Time Periods (After the Closing Date) 45 Days – The seller must identify the property they want to purchase. 180 Days – The seller must have completed the purchase of the property. IRS Definition 26 CFR § 1.1031(a)-1 Section 1031(a)(1) provides an exception from the general rule requiring the recognition of gain or loss upon the sale or exchange of property. Under section 1031(a)(1), no gain or loss is recognized if property held for productive use in a trade or business or for investment is exchanged solely for property of a like kind to be held either for productive use in a trade or business or for investment. Under section 1031(a)(1), property held for productive use in a trade or business may be exchanged for property held for investment. Similarly, under section 1031(a)(1), property held for investment may be exchanged for property held for productive use in a trade or business. Samples Use the samples below that are modified agreements from online resources such as State real estate commissions and agency websites. Sample 1 Download: Adobe PDF Sample 2 Download: Adobe PDF Sample 3 Download: Adobe PDF How to Write Download: Adobe PDF, Microsoft Word (.docx), Open Document Text (.odt) Section I. The Parties
Like-Kind. EXCHANGE shall mean an exchange of assets of the nature contemplated by the provisions of Section 1031 of the Code.
Like-Kind. Exchange shall mean an exchange of assets of the nature contemplated by the provisions of Section 1031 of the Code. Loss and Expense shall have the meaning given to it in Section 8.2. Material, Materially or materiality for the purposes of this Agreement, shall, unless specifically stated to the contrary, be determined without regard to the fact that various provisions of this Agreement set forth specific dollar amounts. Material Agreement shall mean, with respect to any Person, any Contractual Obligation which (a) was not entered into in the ordinary course of business, (b) was entered into in the ordinary course of business which (i) involved the purchase, sale or lease of goods or materials, or purchase of services, aggregating more than Fifty Thousand Dollars ($50,000) during any of the last three fiscal years, (ii) extends for more than three (3) months, or (iii) is not terminable on thirty (30) days or less notice without penalty or other payment, (c) involves Indebtedness for Money Borrowed, (d) is or otherwise constitutes a written agency, broker, dealer, license, distributorship, sales representative or similar written agreement, or (e) accounted for more than three percent (3%) of the revenues of the Future EZ Station or the Future SFX Station in any of the last three fiscal years or is likely to account for more than three percent (3%) of revenues of the Future EZ Station or the Future SFX Station during the current fiscal year. Multiemployer Plan shall mean a Plan which is a "multiemployer plan" within the meaning of Section 4001(a)3 of ERISA. Nonassumed Obligations shall have the meaning given to it in Section 2.2(b).
Like-Kind. Exchange shall mean an exchange of assets of the nature contemplated by the provisions of Section 1031 of the Code. Lincoln shall have the meaning given to it in the second Whereas paragraph. Lincoln Agreement shall have the meaning given to it in the second Whereas paragraph Lincoln Breach shall have the meaning given to it in Section 6.1. Loss and Expense shall have the meaning given to it in Section 8.2. material or materiality for the purposes of this Agreement, shall, unless specifically stated to the contrary, be determined without regard to the fact that various provisions of this Agreement set forth specific dollar amounts. Material Agreement shall mean, with respect to any Person, any Contractual Obligation which is in effect on the date hereof and (a) was not entered into in the ordinary course of business, (b) was entered into in the ordinary course of business which (i) involved annual consideration of more than Ten Thousand Dollars ($10,000) during any of the last three fiscal years, (ii) extends for more than three (3) months, or (iii) is not terminable on thirty (30) days or less notice without penalty or other continuing financial obligation, (c) involves Indebtedness for Money Borrowed, (d) is an employment agreement, (e) is or otherwise constitutes a written agency, broker, dealer, license, distributorship, sales representative or similar written agreement, or (f) accounted for more than three percent (3%) of the revenues of the American Stations or the Citicasters Station in any of the last three fiscal years or is likely to account for more than three percent (3%) of revenues of the American Stations or the Citicasters Station during the current fiscal year.
Like-Kind. Exchange shall mean an exchange of assets of the nature contemplated by the provisions of Section 1031 of the Code. Loss and Expense shall have the meaning given to it in Section 8.2. Material, Materially or materiality for the purposes of this Agreement, shall, unless specifically stated to the contrary, be determined without regard to the fact that various provisions of this Agreement set forth specific dollar amounts. Material Agreement shall mean, with respect to any Person, any Contract which (a) was entered into not in the ordinary course of business, (b) was entered into in the ordinary course of business which (i) involved the purchase, sale or lease of goods or materials, or purchase of services, aggregating more than Fifty Thousand Dollars ($50,000) during any of the last three fiscal years, (ii) extends for more than three (3) months, or (iii) is not terminable on thirty (30) days or less notice without penalty or other payment, (c) involves Indebtedness for Money Borrowed, (d) is or otherwise constitutes a written agency, broker, dealer, license, distributorship, sales representative or similar written agreement, or (e) accounted for more than three percent (3%) of the revenues of the EZ Stations or the Evergreen Stations in any of the last three fiscal years or is likely to account for more than three percent (3%) of revenues of the EZ Stations or the Evergreen Stations during the current fiscal year. Multiemployer Plan shall mean a Plan which is a "multiemployer plan" within the meaning of Section 4001(a)3 of ERISA. Notice of Disagreement shall have the meaning given to it in Section 2.3(d). Organic Document shall mean, with respect to a Person which is a corporation, its certificate or articles of incorporation or organization, its by-laws and all stockholder agreements, voting trusts and similar arrangements applicable to any of its capital stock. PBGC shall mean the Pension Benefit Guaranty Corporation and any Entity succeeding to any or all of its functions under ERISA. PBI shall have the meaning given to it in the Preamble Permitted Liens shall mean (a) any mechanic's or materialmen's Lien or similar Lien with respect to amounts not yet due and payable or which are being contested in good faith by appropriate proceedings and for which appropriate reserves have been established, (b) Liens for taxes not yet due and payable or which are being contested in good faith by appropriate proceeding, for which appropriate reserves have been establi...