Protected Properties definition

Protected Properties means each of the properties listed on Schedule 2 hereto or any portion thereof, any property acquired by the OP or any entity in which the OP holds a direct or indirect interest in exchange for any such Protected Property in a transaction described in Section 2(b) hereof, and any other property received by the OP, or any entity in which the OP holds a direct or indirect interest as “substituted basis property” as defined in Section 7701(a)(42) of the Code with respect to any such Protected Property. Where the context so requires, it shall include any Contributed Interest that represents an indirect interest in any Protected Property.

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Protected Properties. Means those properties set forth on Schedule 1 to this Agreement and any other properties or assets acquired by PREIT Partnership as "exchanged basis property" (as defined in Section 7701(a)(44) of the Code) with respect to such Protected Properties. In no event shall the term "Protected Property" be deemed to refer to any of the Liquidating Properties or any direct or indirect interest in any of the Liquidating Properties.

Protected Properties means the limited partnership interests in JP Partnership acquired by GGP Partnership from the Former JP Limited Partners, those properties set forth on Schedule 2 to this Agreement, any property acquired by GGP Partnership, JP Partnership or any entity in which either GGP Partnership or JP Partnership holds a direct or indirect interest in a transaction described in Section 2(b)(i) hereof, and any other properties received by GGP Partnership, JP Partnership, or any entity in which GGP Partnership or JP Partnership holds a direct or indirect interest as "substituted basis property" as defined in Section 7701(a)(42) of the Code with respect to such Protected Properties.

Examples of Protected Properties in a sentence

• Notwithstanding any provision of the Partnership Agreement, the Partnership shall use the “traditional method” under Treasury Regulation Section 1.704-3(b) for purposes of making all allocations under Section 704(c) of the Code with respect to the Protected Properties and all other properties acquired by the Partnership pursuant to the Transaction Agreements (with no “curative allocation” to offset the effects of the “ceiling rule,” including upon any sale of such a property).

• The Operating Partnership shall use the traditional method (without curative allocations) as set forth in Treasury Regulations Section 1.704-3(b) with respect to the Protected Properties.

• At a minimum, the ENTITY shall monitor ACEP Protected Properties on an annual basis to ensure that the Agricultural Land Easements are being implemented according to the deed provisions.

• Any merger or consolidation of the Partnership or any Subsidiary, whether or not the Partnership or Subsidiary is the surviving entity in such merger or consolidation, that results in a Protected Partner recognizing part or all of the Protected Gain shall be deemed to be a disposition of the Protected Properties for purposes of Section 2.1, and Article 4 shall fully apply, except as expressly provided in this Section 2.3.

• For the avoidance of doubt, the purpose of this Section 3.8 is not to require the Partnership to incur or increase the amount of “recourse” indebtedness, if any, to which the Protected Properties are subject, provided, however, that the Partnership maintains at the same time sufficient other “recourse” indebtedness to cover the aggregate amounts of the DRO of all partners of the Partnership.

More Definitions of Protected Properties

Protected Properties has the meaning set forth in the Tax Indemnity Agreement.

Protected Properties means those properties set forth on Annex C; any property acquired by the Operating Partnership, or any entity in which the Operating Partnership holds a direct or indirect interest in exchange for any such Protected Property in a transaction described in Section 2(b)(1) hereof; and any other property received by the Operating Partnership or any entity in which the Operating Partnership holds a direct or indirect interest as “substituted basis property” as defined in Code Section 7701(a)(42) with respect to any such Protected Property.

Protected Properties means each of the Newsday Assets that was owned by Tribune and its Affiliates on December 31, 2007, and any property acquired by the Company or any entity in which the Company holds a direct or indirect interest in exchange for any such Protected Property that is “substituted basis property” as defined in Section 7701(a)(42) of the Code with respect to any such Protected Property.

Protected Properties. Means those Properties set forth on Schedule 2 to this Exhibit E-9 and any other properties or assets acquired by the Partnership received as “substituted basis property” as defined in Section 7701(a)(42) of the Code with respect to such Protected Properties.

Protected Properties. Means, except as otherwise specifically provided herein, those properties and assets set forth on Schedule 2 hereto 1/ and any other

Protected Properties. Means, except as otherwise specifically provided herein, those properties and assets set forth on Schedule 2 hereto 1/ and any other ---------- 1/ The Protected Properties will include all buildings and land in which SCR owns a direct or indirect interest at the time of the Merger, all partnership or LLC interests owned directly or indirectly by SCR at the time of the Merger, the management business conducted by SCR and all stock or securities of any corporate entity to which all or any [Footnote continued] properties or assets hereafter acquired by Vornado OP or any direct or indirect Subsidiary of Vornado OP that are treated as "substituted basis property" as defined in Section 7701(a)(42) of the Code with respect to such Protected Properties.

Protected Properties shall exclude any properties not identified by the Company on Exhibit A.