Non-Imputation definition

Non-Imputation. Date Down" and "Zoning" endorsements and evidencing the Partnership's ownership of the Apartment Complex, subject only to such exclusions, exceptions, conditions and stipulations as shall be acceptable to the Investment Limited Partner, in its sole discretion. In no event shall any Installment become due until all of the conditions for all of the Installments listed prior to the Installment in question in Section 5.1(a) shall have been satisfied and all of such prior Installments shall have become due. Notwithstanding the foregoing, however, if at any time prior to the date when an Installment becomes due and payable, the Partnership has an "Operating Deficit" (expenses in excess of revenues which the General Partners would be required to fund pursuant to Section 6.10), then the Investment Limited Partner may, at its option, waive the requirement of the delivery of the Payment Certificate or any other condition with respect to part or all of such Installment and pay such part or all of such Installment, provided that the proceeds of the amount so paid are used by the Partnership to fully fund such Operating Deficit; provided, however, that if the proceeds of such amount so paid are designated in Section 6.12 or Section 10.2(c) to be used to pay fees or special distributions, then such proceeds shall be utilized to pay such fees or special distributions and the recipients thereof shall be required to, and hereby agree to, utilize the proceeds of such fees or special distributions to fund such Operating Deficit, in which case the Investment Limited Partner is hereby authorized to directly fund such Operating Deficit with the funds so applied being deemed to have been paid as aforesaid.
View Source

Examples of Non-Imputation in a sentence

  • If the Title Company imposes any other conditions to the issuance of the Non-Imputation Coverage (other than payment of any premium by Buyer), then clause (A) above shall be deemed deleted from this Section, unless Title Company agrees to waive such other conditions.

  • In the event that said non-imputation endorsement is not available in the state in which an Individual Property is located, the applicable Property Owner shall deliver to Purchaser a Non-Imputation Affidavit in the form attached hereto as Exhibit W (the "Non-Imputation Affidavit").

  • EXHIBIT C Schedule of Existing Loans EXHIBIT D Form of Non-Imputation Affidavit.

  • The general partners of Property Owner shall deliver to an Owner's Affidavit which shall be substantially in the form attached hereto as Exhibit S and a Non-Imputation Affidavit which shall be substantially in the form attached hereto as Exhibit T.

  • Seller shall reasonably cooperate with Purchaser and the title company respecting the Non-Imputation Endorsement and all other aspects of the issuance of the Owner’s Title Policy, including without limitation by executing affidavits or declarations that are customary as of the date of this Agreement and reasonably required by the title company in connection with the issuance of the Owner’s Title Policy (including the Non-Imputation Endorsement).

  • At the Company's request, Contributor shall cause such title policies to contain a non-imputation endorsement with respect to the applicable Property Owner, and in the event that said non-imputation endorsement is not available in the state in which an Individual Property is located, Contributor shall deliver on behalf of the applicable Property Owner a Non-Imputation Affidavit in the form attached hereto a Exhibit D ("Non-Imputation Affidavit").

  • Entity Seller agrees that for a period of six (6) months after Closing, in the event Purchaser elects to obtain new owners’ title policies after Closing from a title insurance company other than Fidelity National Title Insurance Company, Entity Seller will execute and deliver a certificate in the form of the Non-Imputation Certificate attached hereto as Exhibit J, except that such certificate shall be certified to the title insurance company selected by Purchaser.

  • The Partners acknowledge that in connection with the purchase of the equity interests in the Fee Owners of the Portfolio Properties and the GP Subsidiaries under the Purchase Agreement, LXP, Lepercq Corporate Income Fund L.P. (“LCIF”) and Net Lease Strategic Assets Fund L.P., a Delaware limited partnership (“NLSAF”), provided an Owner’s Affidavit and Non-Imputation Affidavit (the “Owner’s Affidavit”) to First American Title Insurance Company (the “Title Company”).

  • Non-Imputation Affidavit and Indemnity Agreement executed by 77 WWLP re Non-Imputation Endorsement.

  • At the Closing Date, Buyer shall receive a credit to reimburse Buyer for the reasonable costs for the "Five Part Search" (includes UCC, judgment, lien, litigation and bankruptcy search) to be ordered from CT Corporation (estimated to be approximately $1500.00), outside legal fees pertaining to the transfer of limited partnership interests (estimated to be approximately $1000.00 to $1500.00) and the Fairway and Non-Imputation title endorsements.

Related to Non-Imputation

  • Late Payment Surcharge shall have the meaning ascribed thereto in Article 10.3.3 of this Agreement;

  • Base rate of Late Payment Surcharge means the marginal cost of funds based lending rate for one year of the State Bank of India, as applicable on the 1st April of the financial year in which the period lies, plus five percent and in the absence of marginal cost of funds based lending rate, any other arrangement that substitutes it, which the Central Government may, by notification, in the Official Gazette, specify. The Late Payment Surcharge shall be claimed by SECI through the Supplementary Bill. Late Payment Surcharge shall be payable on the outstanding payment beyond the Due Date at the base rate of Late Payment Surcharge applicable for the period for the first month of default. The rate of Late Payment Surcharge for the successive months of default shall increase by 0.5 percent (50 bps) for every month of delay provided that the Late Payment Surcharge shall not be more than 3 percent higher than the base rate at any time:

  • Income Tax Expense means, for any period, the aggregate of all Taxes (including deferred Taxes) based on the income of a Person for such period, determined in accordance with GAAP.

  • Tax Expenses means all federal, state, county, or local governmental or municipal taxes, fees, charges or other impositions of every kind and nature, whether general, special, ordinary or extraordinary, (including, without limitation, real estate taxes, general and special assessments, transit taxes, leasehold taxes or taxes based upon the receipt of rent, including gross receipts or sales taxes applicable to the receipt of rent, unless required to be paid by Tenant, personal property taxes imposed upon the fixtures, machinery, equipment, apparatus, systems and equipment, appurtenances, furniture and other personal property used in connection with the Project, or any portion thereof), which shall be paid or accrued during any Expense Year (without regard to any different fiscal year used by such governmental or municipal authority) because of or in connection with the ownership, leasing and operation of the Project, or any portion thereof.

  • Penalties means the amounts to be deducted from payments