Replacement Property means any property which is placed in service as a replacement for any item of Equipment or any Improvement previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment or any Improvement to the fullest extent that the FILOT Act permits.
Replacement Property means all property installed in or on the Land in substitution of, or as replacement for, any portion of the Project, but only to the extent that such property may be included in the calculation of the Negotiated FILOT pursuant to Section 5.01(f) hereof and Section 12-44-60 of the Code.
Replacement Property means property placed under the fee agreement to replace economic development property previously subject to the fee agreement, as provided in Section 12‑44‑60.
Examples of Replacement Property in a sentence
All Landlord Replacement Property shall become part of the Leased FF&E and the property of Landlord.
Tenant may remove Leased FF&E that has become inadequate, obsolete, worn out, unsuitable or unnecessary for the operation of the Hospital Facility from the Premises or permit its removal, if (1) such Leased FF&E has been replaced with Replacement Property having equal or greater utility in the operation of the Hospital Facility or (2) Tenant reasonably determines that replacement of such Leased FF&E is not necessary or otherwise beneficial to the operation of the Hospital Facility.
All Landlord Replacement Property shall be purchased and maintained free of all liens and encumbrances.
More Definitions of Replacement Property
Replacement Property means any property acquired or constructed after the Investment Period as a replacement for any property theretofore forming a part of the Project and disposed of, or deemed disposed of, as provided in Section 5.2 hereof.
Replacement Property means any property which is placed in service as a replacement for any item of Equipment, any Improvement, or any Real Property previously subject to this Fee Agreement regardless of whether such property serves the same functions as the property it is replacing and regardless of whether more than one piece of property replaces any item of Equipment, any Improvement, or any Real Property, to the fullest extent that the Act permits.
Replacement Property means any portion of the Project substituted for Released Property pursuant to Section 5.01(e) hereof.
Replacement Property means any property which is placed in service as a replacement for any Removed Component regardless of whether the Replacement Property serves the same functions as the Removed Component it is replacing and regardless of whether more than one piece of Replacement Property replaces a single Removed Component.
Replacement Property means all property placed in service on the Land in substitution of, or as replacement for, any Negotiated FILOT Property which becomes Released Property, regardless of whether such property serves the same function as the property it replaces and regardless of whether more than one piece of such property replaces a single piece of the Negotiated FILOT Property, to the maximum extent that such property may be included in the calculation of the Negotiated FILOT pursuant to Section 5.01(d) hereof and Section 12-44-60 of the Negotiated FILOT Act.
Replacement Property has the meaning specified in the definition of Like-Kind Exchange.
Replacement Property means all property placed in service in or on the Land in substitution of, or as replacement for, any portion of the Project, but only to the extent that such property may be included in the calculation of the Negotiated FILOT pursuant to Section 5.01(f) hereof and Section 12-44-60 of the Code.