Definition of Tax Protection Period

  1. Tax Protection Period means the period commencing on the Closing Date and ending at 12:01 AM on the fifth (5th) anniversary of the Closing Date; provided, however, that the Tax Protection Period shall terminate at such earlier time as the Contributor (or one or more successor Protected Partners) has, individually or in the aggregate, redeemed, sold, transferred, or otherwise disposed of 50% or more of the Units issued by the Partnership on the Closing Date (after adjustment for any Unit combinations or splits effected by the Partnership), directly or indirectly, in one or more taxable transactions.
  2. Tax Protection Period means the period commencing on the Closing Date (or, if later, August [__], 2017) and ending at 12:01 AM on August [__], 2024.

Examples of Tax Protection Period in a sentence

  1. Tax Protection Period Transfer has the meaning set forth in Section 2.1(a) of this Agreement.
  2. Tax Protection Period means the period commencing on the Closing Date and ending at 12:01 AM on November 10, 2023.

Definition of Tax Protection Period in Tax Protection Agreement

Tax Protection Period means the period commencing on the Closing Date and ending at 12:01 AM on the fifth (5th) anniversary of the Closing Date; provided, however, that the Tax Protection Period shall terminate at such earlier time as the Contributor (or one or more successor Protected Partners) has, individually or in the aggregate, redeemed, sold, transferred, or otherwise disposed of 50% or more of the Units issued by the Partnership on the Closing Date (after adjustment for any Unit combinations or splits effected by the Partnership), directly or indirectly, in one or more taxable transactions.


Definition of Tax Protection Period in Limited Liability Company Agreement

Tax Protection Period means, ten (10) years; provided, however, that such period shall end with respect to any Protected Partner or Guaranty Partner to the extent that such Partner owns less than fifty percent (50%) of the OP Units originally owned by the Protected Partner or Guaranty Partner as of the Closing Date, disregarding the sale, exchange or other disposition of any such OP Units sold, exchanged or otherwise disposed of by the Protected Partner or Guaranty Partner in a Permitted Disposition.