Trust Tax Event means that there has been a Tax Action which relates to any of the items described in (i) through (iii) below, and that there is more than an insubstantial risk that (i) the Trust is, or will be subject to United States federal income tax with respect to income accrued or received on the Partnership Preferred Securities, (ii) the Trust is, or will be, subject to more than a de minimis amount of other taxes, duties or other governmental charges or (iii) interest payable by one or more of the Investment Affiliates with respect to the Debentures is not, or will not be, deductible by such Investment Affiliate for United States federal income tax purposes.
Trust Tax Event means that the Company shall have requested and received and shall have delivered to the Regular Trustees an opinion of nationally recognized independent tax counsel experienced in such matters (a “Trust Dissolution Tax Opinion”) to the effect that there has been (a) an amendment to, change in or announced proposed change in the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein, (b) a judicial
Trust Tax Event means that the Company shall have requested and received and shall have delivered to the Regular Trustees an opinion of nationally recognized independent tax counsel experienced in such matters (a "Trust Dissolution Tax Opinion") to the effect that there has been (a) an amendment to, change in or announced proposed change in the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein, (b) a judicial decision interpreting, applying, or clarifying such laws or regulations, (c) an administrative pronouncement or action that represents an official position (including a clarification of an official position) of the governmental authority or regulatory body making such administrative pronouncement or taking such action, or (d) a threatened challenge asserted in connection with an audit of the Company or any of its subsidiaries, the Partnership, or the Trust, or a threatened challenge asserted in writing against any other taxpayer that has raised capital through the issuance of securities that are substantially similar to the Debentures, the Partnership Preferred Securities, or the Trust Preferred Securities, which amendment or change is adopted or which proposed change, decision or pronouncement is announced or which action, clarification or challenge occurs on or after the date of this Prospectus (collectively a "Tax Action"), which Tax Action relates to any of the items described in (i) through (iii) below, and that following the occurrence of such Tax Action there is more than an insubstantial risk that (i) the Trust is, or will be, subject to United States federal income tax with respect to income accrued or received on the Partnership Preferred Securities, (ii) the Trust is, or will be, subject to more than a DE MINIMIS amount of other taxes, duties or other governmental charges or (iii) interest payable by an Investment Affiliate with respect to the Debenture issued by such Investment Affiliate is not, or will not be, deductible by such Investment Affiliate for United States federal income tax purposes.
Examples of Trust Tax Event in a sentence
You must make your appeal in writing, and it must be received by the Executive Di- rector within 60 days of the date of the letter denying your request.
Guarantor covenants and agrees that if and so long as (i) the Issuer is the holder of all the Subordinated Debentures, (ii) a Trust Tax Event (as defined in the Declaration) in respect of the Issuer has occurred and is continuing and (iii) the Guarantor has elected, and has not revoked such election, to pay Additional Sums (as defined in the Declaration) in respect of the Trust Common Securities and Trust Preferred Securities, the Guarantor will pay to the Issuer such Additional Sums.
If this matter were to be litigated and the Tax Court were to sustain the IRS's position on this matter, the judicial decision could constitute a Trust Tax Event, which could result in an early redemption of the TOPrS.
The Employer agrees to recognize three (3) nurse representatives for the purpose of dealing with grievances and conducting initial Union orientation.
If a Trust Special Event (as defined herein) shall occur and be continuing, this Security shall be exchangeable for Trust Securities in accordance with Section 5.3 of the Supplemental Indenture, unless a Trust Special Event is a Trust Tax Event (as defined herein), in which case this Security may be redeemed by the Company in accordance with Section 5.2 of the Supplemental Indenture.
More Definitions of Trust Tax Event
Trust Tax Event means that the Insurance Company has received an opinion of independent legal counsel stating in effect that as a result of (a) any amendment to, or change (including any announced prospective change) in, the laws (or any regulations thereunder) of the United States or any political subdivision or taxing authority thereof or therein or (b) any amendment to, or change in, an interpretation or application of any such laws or regulations by any governmental authority in the United States, which amendment or change is enacted, promulgated, issued or announced on or after the Effective Date of this Contract, there is more than an insubstantial risk that (i) the Trust is, or will be within 90 days of the date thereof, subject to United States federal income tax with respect to Interest accrued or received pursuant to this Contract or (ii) the Trust is, or will be within 90 days of the date thereof, subject to more than a de minimis amount of taxes, duties or other governmental charges.
Trust Tax Event means that the Company shall have requested and received and shall have delivered to the Property Trustee an Opinion of Counsel from a firm having a national tax and securities practice (which Opinion of Counsel shall not have been rescinded by such law firm) that there has been a Tax Action which relates to any of the items described in (i) through (iii) below, and that there is more than an insubstantial risk that (i) the Trust is or, within 90 days after such date, will be subject to United States federal income tax with respect to income accrued or received on the Subordinated Debentures, (ii) the Trust is or, within 90 days after such date, will be subject to more than a de minimis amount of other taxes, duties, assessments or other governmental charges or (iii) interest payable by the Company on the Subordinated Debentures is not or, within 90 days after such date, will not be deductible by the Company for United States federal income tax purposes.
Trust Tax Event means that the Company shall have requested and received and shall have delivered to the Property Trustee an Opinion of Counsel (as defined in the Declaration) from a firm having a national tax and securities practice (which Opinion of Counsel shall not have been rescinded by such law firm) that there has been a Tax Action which relates to any of the items described in (i) through (iii) below, and that there is more than an insubstantial risk that (i) the Trust is or, within 90 days after such date, will be subject to United States federal income tax with respect to income accrued or received on the Debentures, (ii) the Trust is or, within 90 days after such date, will be subject to more than a de minimis amount of other taxes, duties, assessments or other governmental charges or (iii) interest payable by the Company on the Debentures is not or, within 90 days after such date, will not be deductible by the Company for United States federal income tax purposes.
Trust Tax Event means that the Company shall have requested and received and shall have delivered to the Regular Trustees, an opinion of nationally recognized tax counsel experienced in such matters (who may be counsel for the Company) to the effect that there has been a Tax Action that results in there being more than an insubstantial risk that (i) the Trust is, or will be subject to United States federal income tax with respect to income accrued or received on the Partnership Preferred Securities, (ii) the Trust is, or will be subject to more than a de minimis amount of other taxes, duties or other governmental charges or (iii) interest payable by one or more of the Investment Affiliates with respect to the Initial Debentures is not, or will not be, deductible by such Investment Affiliate for United States federal income tax purposes.
Trust Tax Event means that ML&Co. shall have requested and received and shall have delivered to the Regular Trustees an opinion of nationally recognized independent tax counsel experienced in these matters to the effect that there has been:
Trust Tax Event means that the Company shall have requested and received and shall have delivered to the Regular Trustees an opinion of nationally recognized independent tax counsel experienced in such matters (a "Trust Dissolution Tax Opinion") to the effect that there has been (a) an amendment to, change in or announced
Trust Tax Event means that TXU Europe (A) shall have requested, received and delivered to the Administrative Trustees an opinion of nationally recognized independent tax counsel in the United States or the United Kingdom, as the case may be, experienced in such matters to the effect that there has been a Tax Action which relates to any of the events described in clauses (i) through (iii) below, and that, as a result of the occurrence of such Tax Action, there is more than an insubstantial risk that (i) the Trust is, or will be, subject to United States federal income tax or United Kingdom corporation tax or income tax with respect to income accrued or received on the Preferred Partnership Securities, (ii) the Trust is, or will be, subject to more than a de minimis amount of other taxes, duties or other governmental charges, or (iii) interest payable by an Investment Affiliate with respect to the Affiliate Investment Instruments issued by such Investment Affiliate is not, or will not be, fully deductible by such Investment Affiliate for United States federal income tax or United Kingdom corporation tax or income tax purposes or (B) has certified to the Administrative Trustees that, as a result of a Tax Action, Additional Amounts are, or will be, payable with respect to any payments made in respect of the Affiliate Investment Instruments, any Investment Guarantee, the Partnership Guarantee or the Preferred Trust Securities Guarantee and has further certified to the Administrative Trustees that it or any Investment Affiliate, as the case may be, cannot avoid the requirement to pay such Additional Amounts by using its reasonable efforts.