Non-Qualifying Property definition
Non-Qualifying Property means that portion of the Project consisting of: (i) property as to which the Company incurred expenditures prior to the Investment Period or, except as to Replacement Property, after the end of the Investment Period; (ii) Existing Property; and (iii) any Released Property or other property which fails or ceases to qualify for Negotiated FILOT Payments, including without limitation property as to which the Company has terminated the Negotiated FILOT pursuant to Section 4.03(a)(3) hereof.
Non-Qualifying Property means that portion of the Project, if any, consisting of: (i) property as to which the Company or any members of the Controlled Group incurred expenditures prior to the Investment Period or, except as to Replacement Property, after the end of the Investment Period; (ii) Existing Property; and (iii) any Released Property or other property which fails or ceases to qualify for Negotiated FILOT Payments, including without limitation property as to which the Company has terminated the Negotiated FILOT pursuant to Section 4.03(a)(iii) hereof. The Company agrees that the real estate improvements on the Land as of the date of this Agreement shall constitute Non-Qualifying Property for purposes of this Agreement.
Non-Qualifying Property means that portion of the Project consisting of: (i) property as to which the Sponsor incurred expenditures prior to the Investment Period or, except as to Replacement Property, after the end of the Investment Period; (ii) Existing Property; and (iii) any released property or other property which fails or ceases to qualify for FILOT Payments, including without limitation property as to which the Sponsor has terminated the FILOT pursuant to Section 4.19(a) hereof. The Sponsor agrees that the real estate improvements on the Real Property as of the date of this Fee Agreement shall constitute Non-Qualifying Property for purposes of this Fee Agreement.
Examples of Non-Qualifying Property in a sentence
Any Non-Qualifying Property shall immediately be released from the terms of this Agreement.
Any acquisition of a Non-Qualifying Property that is Approved by the Limited Partner shall be acquired subject to the acquisition procedure set forth in Section 5.1.1.
The Limited Partner shall be under no obligation to acquire any Non-Qualifying Property and any rejection thereof by the Limited Partner shall not count as one of the Limited Partner’s rejections pursuant to Section 5.1.4(d).
More Definitions of Non-Qualifying Property
Non-Qualifying Property means that portion of the property located on the Land, which does not qualify as Negotiated FILOT Property, such Non-Qualifying Property to include:
Non-Qualifying Property means that portion of the Project, if any, consisting of: (i) property as to which the Company or any members of the Controlled Group incurred expenditures prior to the Investment Period or, except as to Replacement Property, after the end of the Investment Period; (ii) Existing Property; and (iii) any Released Property or other property which fails or ceases to qualify for Negotiated FILOT Payments, including without limitation property as to which the Company has terminated the Negotiated FILOT pursuant to Section 4.03 hereof. The Company agrees that the real estate improvements placed in service on the Land as of the date of this Agreement shall constitute Non-Qualifying Property for purposes of this Agreement.
Non-Qualifying Property means that portion of the real and personal property located on the Land, which does not qualify as Negotiated FILOT Property, such Non- Qualifying Property to include: (i) Existing Property; (ii) except as to Replacement Property, property which the Company or any other Sponsor or Sponsor Affiliate places in service after the end of the Investment Period; and (iii) any other property which fails or ceases to qualify for Negotiated FILOT Payments under the Negotiated FILOT Act or under this Agreement, including without limitation property as to which the Company or any other Sponsor or Sponsor Affiliate has terminated the Negotiated FILOT pursuant to Section 4.01(d)(iii) hereof.
Non-Qualifying Property means that portion of the Project, if any, consisting of: (i) property as to which the Company incurred expenditures prior to the Investment Period or, except as to Replacement Property, after the end of the Investment Period; (ii) Existing Property; and (iii) any Released Property or other property which fails or ceases to qualify for Negotiated FILOT Payments, including without limitation property as to which the Company have terminated the Negotiated FILOT pursuant to Section 4.03(a)(iii) hereof.
Non-Qualifying Property means that portion of the facilities located on the Land, which does not qualify as Negotiated FILOT Property, such Non-Qualifying Property to include:
Non-Qualifying Property means that portion of the Project, if any, consisting of:
Non-Qualifying Property means that portion of the real and personal property located on the Land, which does not qualify as Negotiated FILOT Property, such Non- Qualifying Property to include: (i) Existing Property; (ii) except as to Replacement Property, property which the Company or its Subsidiary places in service after the end of the Investment Period; and, (iii) any other property which fails or ceases to qualify for Negotiated FILOT Payments under the Negotiated FILOT Act or under this Agreement, including without limitation property as to which the Company or its Subsidiary has terminated the Negotiated FILOT pursuant to Section 4.01(d)(iii) hereof.