Tax Abatement Transaction means a transaction between the Parent Guarantor, Lessee and/or any Subsidiary, on the one hand, and a Related Municipal Party, on the other hand (and, if applicable, other Person(s)), entered into for the purposes of reducing certain of the Parent Guarantor’s, Lessee’s and/or any Subsidiary’s Tax liabilities through (a) the sale, other transfer, lease or license to such Related Municipal Party of title to or an interest in real property, fixtures, equipment, other fixed or capital assets or other related assets of the Parent Guarantor, Lessee or such Subsidiary, (b) the granting to such Related Municipal Party of Liens on real property, fixtures, equipment, other fixed or capital assets or other related assets of the Parent Guarantor, Lessee or such Subsidiary, (c) a Sale and Leaseback Transaction or other transfer and licensing arrangement between the Parent Guarantor, Lessee and/or any Subsidiary, on the one hand, and such Related Municipal Party, on the other hand (and, if applicable, such other Person(s)), with respect to real property, fixtures, equipment, other fixed or capital assets or other related assets of the Parent Guarantor, Lessee or such Subsidiary, (d) any PILOT agreement or (e) any combination of the foregoing or through arrangements similar thereto.

Tax Abatement Transaction means any revenue bond financing arrangement between any Person and a development authority or other similar governmental authority or entity for the purpose of providing property tax abatement to such Person whereby (i) the development authority issues revenue bonds to finance the acquisition of property that is now owned or hereafter acquired by AGCO or a Restricted Subsidiary, (ii) the property so transferred is leased back by AGCO or such Restricted Subsidiary, (iii) the bonds issued to finance the acquisition are owned by AGCO or a Restricted Subsidiary, (iv) the rental payments on the lease and the debt service payments on the bonds are substantially equal and (v) AGCO or such Restricted Subsidiary has the option to prepay the bonds, terminate its lease and reacquire the property for nominal consideration at any time; provided that if at any time any of the foregoing conditions shall cease to be satisfied, such transaction shall cease to be a Tax Abatement Transaction.

Examples of Tax Abatement Transaction in a sentence

Subject to Section 8.3 of the Lease, the Administrative Agent and the Participants shall cooperate with the Lessee in connection with any existing or proposed Specified Tax Abatement Transaction and shall execute and deliver any Specified Tax Abatement Document as may be requested by Lessee from time to time.
Liens on real property, fixtures, equipment, other fixed or capital assets or other related assets in connection with a Tax Abatement Transaction in favor of the Related Municipal Party.
Neither any Borrower nor any of its Subsidiaries will agree to any amendment to, or waive any of its rights under, any Reorganization Document, Mexican Intercompany Security Document or Tax Abatement Transaction Document after the Closing Date, without in each case obtaining the prior written consent of Requisite Lenders to such amendment or waiver.
Subject to Section 8.3 of the Lease, the Administrative Agent and the Participants shall cooperate with the Lessee in connection with any existing or proposed Specified Tax Abatement Transaction and shall execute and deliver any Specified Tax Abatement Document as may be requested by Lxxxxx from time to time.
Enter into any Sale and Leaseback Transaction other than (a) to the extent permitted under Section 8.03(m) and (b) to the extent constituting a Sale and Leaseback Transaction, the Tax Abatement Transaction.

More Definitions of Tax Abatement Transaction

Tax Abatement Transaction means any payment-in-lieu of taxes (“PILOT”) tax abatement transaction and the related (a) transfer of title of the Specified Property, together with certain equipment and other personal property of the Company or any Domestic Subsidiary, which equipment and personal property is located or to be located on the Specified Property, to the applicable Xxxxx County Development Authority, and (b) leaseback of such Specified Property, together with such equipment and other personal property located on the Specified Property, to the Company or a Domestic Subsidiary of the Company, so long as, in each case, (i) documentation entered into by any of the Loan Parties with respect thereto shall be reasonably acceptable to the Administrative Agent, and (ii) the Loan Parties comply with the requirements of Section 7.13.

Tax Abatement Transaction means any tax abatement transaction (whether payment-in-lieu of taxes or otherwise) and the related (a) transfer of title of the related real estate and improvements thereon (the “Designated Property,” together with certain equipment and other personal property of Issuer or any Restricted Subsidiary, which equipment and personal property is located or to be located on the Designated Property, to the applicable governmental authority, and (b) leaseback of such Designated Property, together with such equipment and other personal property located on the Designated Property, to the Issuer or a Restricted Subsidiary of the Issuer.

Tax Abatement Transaction means any revenue bond financing arrangement between any Person and a development authority or other similar governmental authority or entity for the purpose of providing property tax abatement to such Person whereby (i) the development authority issues revenue bonds to finance the acquisition of property that is now owned or hereafter acquired by the Borrower or a Restricted Subsidiary, (ii) the property so transferred is leased back by the Borrower or such Restricted Subsidiary, (iii) the bonds issued to finance the acquisition are owned by the Borrower or a Restricted Subsidiary, (iv) the rental payments on the lease and the debt service payments on the bonds are substantially equal and (v) the Borrower or such Restricted Subsidiary has the option to prepay the bonds, terminate its lease and reacquire the property for nominal consideration at any time; provided that if at any time any of the foregoing conditions shall cease to be satisfied, such transaction shall cease to be a Tax Abatement Transaction.

Tax Abatement Transaction means any revenue bond financing arrangement between any Person and a development authority or other similar governmental authority or entity for the purpose of providing property tax abatement to such Person whereby (i) the development authority issues revenue bonds to finance the acquisition of property that at such time is owned by AGCO or a Subsidiary, (ii) the property so transferred is leased back by AGCO or such Subsidiary, (iii) the bonds issued to finance the acquisition are owned by AGCO or a Subsidiary, (iv) the rental payments on the lease and the debt service payments on the bonds are substantially equal and (v) AGCO or such Subsidiary has the option to prepay the bonds, terminate its lease and reacquire the property for nominal consideration at any time; provided that if at any time any of the foregoing conditions shall cease to be satisfied, such transaction shall cease to be a Tax Abatement Transaction.