Protected Interest definition

Protected Interest means the Property, and any other properties or assets hereafter acquired by the Partnership or any direct or indirect Subsidiary of the Partnership that are treated as “substituted basis property” as defined in Section 7701(a)(42) of the Code with respect to the Property.

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Protected Interest means (i) the initial Interest (and any portion thereof) received by MGP Member on account of the Contribution and (ii) any equity interests in an entity treated as a partnership for U.S. federal income tax purposes received in exchange for the Protected Interest pursuant to a Fundamental Transaction with respect to which the tax basis in such equity interests is determined in whole or in part with reference to the transferor’s tax basis in such Protected Interest and (iii) any equity interest in an entity treated as a partnership for U.S. federal income tax purposes received in exchange for a Protected Interest in a Permitted Disposition.

Protected Interest means the enforceable interest of a claimant in property, which interest is shown not to be subject to forfeiture.

Examples of Protected Interest in a sentence

The Borrower shall have executed and delivered to the Agent an assignment in form and substance satisfactory to the Agent, pursuant to which the Borrower shall assign all of the Borrower's rights and benefits under the Protected Interest Rate Agreement ("Protected Interest Rate Agreement") upon the execution and delivery of such Agreement.
The Borrower shall maintain interest rate protection arrangements in accordance with the terms of a Protected Interest Rate Agreement to be entered into between BankBoston and Borrower with a principal amount protected of $35,000,000.00, and with a Eurodollar Rate no higher than 8% or corresponding Base Rate ("Protected Interest Rate Agreement").
With respect to a given asset, any provision of a document, instrument or agreement (other than any Loan Document or Protected Interest Rate Agreement) which prohibits or purports to prohibit the creation or assumption of any Lien on such asset as security for Indebtedness of the Person owning such asset or any other Person.
The one or more collateral assignments of interest rate agreements entered into by the Borrower from time to time in favor of the Agent, for the benefit of the Agent and the Lenders, pursuant to which the Borrower will assign all of its rights in and to the Protected Interest Rate Agreement.
The parties agree and acknowledge that the Restricted Shares currently represent 3.25_% of the issued and outstanding shares of the Company’s Common Stock (“Protected Interest”), which Protected Interest represents all currently issued and outstanding shares of Common Stock, and the issuance of all shares of Common Stock upon conversion of issued and outstanding Series B Convertible Preferred Stock and Series C Convertible Preferred Stock.
A first priority Collateral Assignment of Protected Interest Rate Agreement granted by NMLP to the Agent, on behalf of the Lenders, respecting the Interest Rate Protection Agreement entered into with respect to the NMLP Loan.
The Guaranty, dated as of even date with the Original Credit Agreement, made by the Trust in favor of the Agent and the Lenders pursuant to which the Trust guarantees to the Agent and the Lenders (or any Affiliate of a Lender which provides a Protected Interest Rate Agreement to the Borrower in connection with the Loans) the unconditional payment and performance of the Obligations, as the same may be modified, amended, restated or reaffirmed from time to time.
In the event the Company issues additional shares of Common Stock, Preferred Stock or other securities convertible or exercisable for Common Stock, Employee shall be issued that number of additional Restricted Shares so that the total number of Restricted Shares beneficially owned by Employee equals the Protected Interest (“Additional Shares”); provided, however, that any Additional Shares issued to Employee shall vest pro-rata according to the vesting schedule set forth in Section (c)(i) above.
Notwithstanding any provision of the operating agreement of the Partnership, the Partnership shall use the “traditional method” under Treasury Regulations Section 1.704-3(b) (with no “curative allocations”) for purposes of making all allocations under Section 704(c) of the Code with respect to the Protected Interest.
The Guaranty, dated as of the date hereof, made by the Trust in favor of the Agent and the Lenders pursuant to which the Trust guarantees to the Agent and the Lenders (or any Affiliate of a Lender which provides a Protected Interest Rate Agreement to the Borrower in connection with the Loans) the unconditional payment and performance of the Obligations, as the same may be modified, amended, restated or reaffirmed from time to time.

More Definitions of Protected Interest

Protected Interest means a charge, lien, prior claim, priority on or binding interest in property.

Protected Interest means (i) the initial Interest (and any portion thereof) received by the Initial Protected Member on account of the Contribution, (ii) any equity interests in an entity treated as a partnership for U.S. federal income tax purposes received by the Protected Member in exchange for the Protected Interest pursuant to a Fundamental Transaction with respect to which the Protected Member’s tax basis in such equity interests is determined in whole or in part with reference to the Protected Member’s tax basis in such Protected Interest and (iii) any equity interest in an entity treated as a partnership for U.S. federal income tax purposes received in exchange for a Protected Interest by the Protected Member in a Permitted Disposition.