Tax Credit Period definition

Tax Credit Period means the ten year time period referenced in Code Section 42(f)(1) over which the Projected Tax Credits are allocated to the Partners. It is the intent of the Partners that the Projected Tax Credits will be allocated during the Tax Credit Period and not a longer term.
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Tax Credit Period is defined in Section 38.01.
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Tax Credit Period means, with respect to a building within a Project, the period of ten taxable years beginning with the taxable year the building is placed in service or, at the election of the Ownership Entity the succeeding taxable year, as more fully defined in IRC Section 42(f)(1).
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Examples of Tax Credit Period in a sentence

  • Applicable Percentage means the percentage multiplied by the Ownership Entity’s Qualified Basis to determine the annual Tax Credit available to the Ownership Entity for each year of the Tax Credit Period and as more fully described in IRC Section 42(b).

  • Note: The Tax Credit Period (<=120 months) is the value that should be entered in the field “Remaining Credit Period for Tax Credits (months)”.• Compliance Period: The compliance period is the prescribed timeframe an owner must comply with all LIHTC program requirements in order to achieve the allocated tax credits.

  • Changes in ownership of the limited partnership interests in Investor LP during the NC Tax Credit Period do not have an effect on (i) Investor LP's continued entitlement to its distributive share of the NC Tax Credit, or (ii) the entitlement of the new limited partner(s) in Investor LP to their distributive share of any remaining unallocated installments of the NC Tax Credit from Investor LP.

  • Once a LIHTC project has been placed in service, the tax credits can be claimed annually on a building-by-building basis over a 10 year Tax Credit Period beginning with either:a.

  • If the Projected Tax Credits are not allocated to the Partners during the Tax Credit Period then the Limited Partner's and Special Limited Partner's Capital Contribution shall be reduced by an amount agreed upon by the Partners, in good faith, to provide the Limited Partner and the Special Limited Partner with their anticipated internal rate of return.

  • The Closing Date shall be on a date which is thirty (30) days after the expiration of the Due Diligence Period, with respect to the Carriage Property, Georgetown Property and Lakeshore Property, and on the earlier of (i) ten (10) days after the expiration of the Tax Credit Period (as defined in paragraph 12 hereof), and (ii) thirty (30) days after the expiration of the Due Diligence Period if Buyer has obtained the Eligibility Letter (as defined in paragraph 12 hereof), with respect to the Sunset Property.

  • The Partners recognize and acknowledge that the Limited Partner and the Special Limited Partner are making their Capital Contribution, in part, on the expectation that the Projected Tax Credits are allocated to the Partners over the Tax Credit Period.

  • Lifespan of a Low-Income Housing Tax Credit Project 10-Year Tax- Credit Period 15-Year IRS-Recaptue Period 30-Year Restricted-Rent AgreementLife of Property0510 15 20 25 30 35 40 45YearsSince 1987, the demand for credits in each state has exceeded supply in almost every year.

  • Under Alternate Plan A, the Bank’s treatment on its Class 3 Allowed Unsecured Deficiency Claims is still identical to the treatment of Class 4 general unsecured claims: No payments will be made to the Bank until after the Tax Credit Period Expiration Date applicable to each Debtor.

  • It is further expected that Fund will serve as the sole manager or managing member of Taxpayer and Lessee during the NC Tax Credit Period.


More Definitions of Tax Credit Period

Tax Credit Period means the ten year time period referenced in Code Section 42(f)(1) over which the Projected Tax Credits and the Projected Missouri Tax Credits are allocated to the Partners. It is the intent of the Partners that the Projected Tax Credits and the Projected Missouri Tax Credits will be allocated during the Tax Credit Period and not a longer term.
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Tax Credit Period shall have the meaning provided in Section 38.01. “Tax Equity Investor” shall have the meaning provided in Section 38.01. “Tax Year” shall mean each tax fiscal year of Fairfax County, Virginia.
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Related to Tax Credit Period

  • Credit Period has the meaning given to it in Section 42(f)(1) of the Code.

  • Revolving Credit Period means the period from and including the Effective Date to but excluding the Termination Date.

  • Revolving Commitment Period the period from and including the Closing Date to the Revolving Termination Date.

  • Revolving Credit Commitment Period the period from and including the Closing Date to the Revolving Credit Termination Date.

  • Revolving Credit Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Credit Commitment Termination Date and the date of termination of the Revolving Credit Commitments.

  • Audit Period means the seven year period following Contractor’s provision of any work under the Contract.

  • Revolving Credit Termination Date means the earlier to occur of (i) the Current Termination Date then in effect and (ii) the date of termination in whole of the Commitments pursuant to Section 2.05(a) or 6.01.

  • Unused Revolving Line Facility Fee is defined in Section 2.4(d). [Signature page follows.]

  • Revolving Credit Commitment Termination Date means the earliest to occur of (i) other than with respect to Extended Revolving Credit Commitments, August 28, 2022, (ii) the date the Revolving Credit Commitments are permanently reduced to zero pursuant to Section 2.13(b) or 2.14, (iii) the date of the termination of the Revolving Credit Commitments pursuant to Section 8.2, and (iv) solely with respect to any Extended Revolving Credit Commitments, the applicable Extended Maturity Date.

  • Revolving Facility Termination Date means the earlier of (i) December 20, 2026, or (ii) the date that the Revolving Commitments have been terminated pursuant to Section 8.02.

  • Adjusted Total Revolving Credit Commitment means at any time the Total Revolving Credit Commitment less the aggregate Revolving Credit Commitments of all Defaulting Lenders.

  • Revolving Facility Lender means a Lender (including an Incremental Revolving Facility Lender) with a Revolving Facility Commitment or with outstanding Revolving Facility Loans.

  • Revolving Facility Percentage means, with respect to any Revolving Facility Lender of any Class, the percentage of the total Revolving Facility Commitments of such Class represented by such Lender’s Revolving Facility Commitment of such Class. If the Revolving Facility Commitments of such Class have terminated or expired, the Revolving Facility Percentages of such Class shall be determined based upon the Revolving Facility Commitments of such Class most recently in effect, giving effect to any assignments pursuant to Section 9.04.

  • Incremental Revolving Facility Lender means a Lender with an Incremental Revolving Facility Commitment or an outstanding Incremental Revolving Loan.

  • Revolving Loan Commitment Termination Date means the earliest of

  • Revolving Loan Termination Date means the earlier of (a) the fifth anniversary of the Funding Date and (b) the date of termination in whole of the Aggregate Revolving Loan Commitment pursuant to Section 2.05(a) or Section 9.01 hereof.

  • Unused Revolving Credit Commitment means, with respect to any Lender at any date of determination, (a) such Lender’s Revolving Credit Commitment at such time minus (b) the sum of (i) the aggregate principal amount of all Revolving Credit Advances, Swing Line Advances and Letter of Credit Advances made by such Lender (in its capacity as a Lender) and outstanding at such time plus (ii) such Lender’s Pro Rata Share of (A) the aggregate Available Amount of all Letters of Credit outstanding at such time, (B) the aggregate principal amount of all Letter of Credit Advances made by the Issuing Banks pursuant to Section 2.03(c) and outstanding at such time and (C) the aggregate principal amount of all Swing Line Advances made by the Swing Line Bank pursuant to Section 2.01(c) and outstanding at such time.

  • Revolving Availability Period means the period from and including the Effective Date to but excluding the earlier of the Revolving Maturity Date and the date of termination of the Revolving Commitments.

  • Revolving Credit Commitment Fee shall have the meaning assigned to such term in Section 2.05(a).

  • Unused Revolving Commitment means, for any Lender at any time, the excess of (i) such Lender’s Revolving Commitment at such time over (ii) such Lender’s Revolving Facility Exposure at such time.

  • Revolving Committed Amount shall have the meaning set forth in Section 2.1(a).

  • Revolving Credit Committed Amount has the meaning described in Section 2.1.1 (Revolving Credit Facility).

  • Specified Existing Revolving Credit Commitment shall have the meaning provided in Section 2.14(g)(ii).

  • Revolving Facility Credit Exposure means, at any time, the sum of (a) the aggregate principal amount of the Revolving Facility Loans outstanding at such time, (b) the Swingline Exposure at such time and (c) any Revolving L/C Exposure at such time. The Revolving Facility Credit Exposure of any Lender at any time shall be the product of (x) such Lender’s Revolving Facility Percentage and (y) the aggregate Revolving Facility Credit Exposure of all Lenders, collectively, at such time.

  • Committed Revolving Line means a credit extension of up to Two Million Dollars ($2,000,000).

  • Letter of Credit Availability Period the period from and including the Closing Date to but excluding the Letter of Credit Maturity Date.