Safe harbor lease definition

Safe harbor lease means a lease that qualified as a safe harbor lease under
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Safe harbor lease means a lease that qualified as a safe harbor lease under Section 168, Internal Revenue Code.
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Safe harbor lease means, with respect to each Property, a Lease that (i) is on the Lease Form, without material modification thereto and otherwise complies with the leasing guidelines and Lease provisions hereunder and under the other Loan Documents, (ii) is entered into at arm’s length with a third party tenant that is not an Affiliate of any Borrower or any Guarantor, which tenant shall be creditworthy and reputable, (iii) the rentable area to be demised pursuant to such proposed Lease when combined with any other space at the applicable Property leased to such proposed tenant or an Affiliate of such propose tenant, is not more than 25,000 square feet, (iv) has an initial term of not less than three (3) years or, together with all renewal options (other than an single one (1) year renewal option), greater than fifteen (15) years, (v) has a minimum contract rent equal or greater than the rent paid by the tenant occupying the space on the Closing Date and provides for tenant improvement allowances and lease concessions in conformity with the then current market conditions as reasonably determined by Lender, (vi) does not contain any expansion options that, if exercised, would cause the premises under such proposed Lease when combined with any other space at the applicable Property leased to such proposed tenant or an Affiliate of such propose tenant to exceed 25,000 rentable square feet, (vii) is automatically self-subordinated to the applicable Mortgage and requires tenant to attorn to Lender or Lender’s successor in interest upon such party’s acquisition of title and at such party’s sole option, (viii) does not contain any requirement for a non-disturbance or recognition agreement or any other provision that might adversely affect Lender’s rights under the Loan Documents, (ix) does not contain any options to purchase, rights of first refusal to purchase any portion of any Property, or termination options (other than in the event of material casualty or condemnation), (x) does not contain any material restrictions on the landlord’s rights to lease remaining portions of the applicable Property, (xi) does not contain any extraordinary, uncustomary and unduly burdensome landlord obligations, or obligations that a landlord unaffiliated with Borrowers would have difficulty performing, (xii) does not grant the tenant thereunder any incentives equivalent to an ownership interest in any Property or grant the tenant thereunder any interest in the ownership of any Property, or other...
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Examples of Safe harbor lease in a sentence

  • Safe harbor lease adjustments .....................................................................................................

  • Safe harbor lease property must be included in the factor of the seller/lessee at cost and excluded from the property factor of the purchaser/lessor.

  • Safe harbor lease adjustments ...................................................................................

  • INCOME TAXES (CONTINUED) Deferred income tax assets (liabilities) at June 30 result from the tax effects of the following temporary differences: 2001 2000 ----- ----- Deferred Taxes -- Current Safe harbor lease agreements..............................

  • Amended by Chapter 3, 2018 Special Session 2 59-7-111 Safe harbor lease provisions.

  • Safe harbor lease property must be included in the factor of the seller/lessee at cost and excluded from the property factor of the purchaser/lessor.Payroll—Total payroll includes all compensation paid or payable by the corporation during the tax period.

  • Safe harbor lease transactions were part of the unitary business of the taxpayer as the funding for the leases came from the general fund of the corporation, and provided a significant contribution to the overall business of the corporation, particularly by freeing up working capital.

  • Safe harbor lease property m ust be included in the factor of the seller/lessee at cost and excluded from the property factor of the purchaser/lessor.

  • Safe harbor lease adjustments ...........................................................................................................................4.

  • Safe harbor lease amounts deducted on the federal return if the minimum investment by the lessor is less than 100 percent.


More Definitions of Safe harbor lease

Safe harbor lease. As defined in Section 5.3(d).
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Safe harbor lease means any proposed market Lease that meets the following criteria: (A) the base rent payable under such proposed Lease is not less than the base rent being paid being paid by the tenant occupying the space as of the date of this Mortgage; (B) the rentable area to be demised pursuant to such proposed Lease which, when combined with any other space in the Property leased to affiliated entities of the tenant under such proposed Lease, is less than 10,000 square feet, (C) such proposed Lease shall be for a term of no less than three (3) years and no greater than ten (10) years including any tenants extension options, and (D) such proposed Lease shall satisfy the additional leasing guidelines set forth below:
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Safe harbor lease means any proposed market Lease that meets the following criteria: (i) the rent payable under such proposed Lease is a rent that is no less than $6.00 per square foot on a triple-net basis, (ii) the rentable area to be demised pursuant to such proposed Lease which, when combined with any other space in the Property leased to affiliated entities of the tenant under such proposed Safe Harbor Lease, is less than 25,000 square feet, (iii) such Lease shall be for a term of no less than three (3) years and no greater than ten (10) years, including any tenant extension option(s); provided, however, that the term, including any extension options, may extend to fifteen (15) years if lease years 11-15 have a rental rate not less than the greater of (A) the rental rate for year 10 and (B) market rental rate, (iv) the tenant improvement allocation or allowance shall not exceed $10.00 per rentable square foot, unless Guarantor guarantees the payment of such allocation or allowance in excess of $10.00 per rentable square foot, and (v) such lease shall satisfy the additional leasing guidelines set forth in Section 5.3(e) below:
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Safe harbor lease has the meaning set forth on Schedule 8 attached hereto.
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Safe harbor lease means the agreement between American Airlines, Inc. and LKC regarding the participation of LKC in the purchase of the Federal Income Tax benefits in one Boeing 767 aircraft to be owned and operated by American Airlines, Inc., including all Schedules and Exhibits thereto, dated December 15, 1983.
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Safe harbor lease shall (i) [intentionally deleted], (ii) be entered into at arm’s length with a third party tenant unaffiliated with Grantor or Recourse Carve-Out Guarantor, which tenant shall be creditworthy and reputable, (iii) cover no more than 10,000 rentable square feet, (iv) have an initial term of not less than three (3) years or, together with all renewal options, greater than fifteen (15) years, (v) (vi) not contain any expansion options which, if exercised, would cause the premises under such lease to exceed 10,000 rentable square feet, (vii) be automatically self-subordinated to the Deed of Trust and require tenant to attorn to Beneficiary or Beneficiary’s successor in interest upon such party’s acquisition of title and at such party’s sole option, (viii) not contain any provision which might adversely affect Beneficiary’s rights under the Loan Documents in any material way, (ix) not contain any options to purchase, rights of first refusal, or termination options (other than in the event of material casualty or condemnation), (x) not contain any material restrictions on the landlord’s rights to lease remaining portions of the Property, excluding reasonable and customary tenant exclusions for hotels of similar size, (xi) not contain any extraordinary, uncustomary and unduly burdensome landlord obligations, including obligations which a landlord unaffiliated with Grantor would have difficulty performing, (xii) not grant tenant any incentives equivalent to an ownership interest in the Property or grant tenant any interest in the ownership of the Property, or otherwise contain terms that would cause a material impairment of Beneficiary’s security, (xiii) not provide for the payment of tenant improvements, leasing commissions or any other landlord construction or similar obligations at any time other than at commencement of the Lease, and (xiv) be otherwise commercially reasonable and contain terms comparable to then-existing local market terms.
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Related to Safe harbor lease

  • Safe Harbor has the meaning set forth in Section 10.2(d).

  • Safe Harbor Election has the meaning set forth in Section 10.2(d).

  • Safe Harbor Amount means 2.99 times the Executive’s “base amount,” within the meaning of Section 280G(b)(3) of the Code.

  • Elective Deferral means the portion of Compensation which is deferred by a Participant under Section 4.1.

  • Excess Elective Deferrals means the amount of Elective Deferrals (as defined below) for a calendar year that the Participant designates to the Plan pursuant to the following procedure. The Participant’s designation: shall be submitted to the Administrator in writing no later than March 1; shall specify the Participant’s Excess Elective Deferrals for the preceding calendar year; and shall be accompanied by the Participant’s written statement that if the Excess Elective Deferrals is not distributed, it will, when added to amounts deferred under other plans or arrangements described in Section 401(k), 408(k) or 403(b) of the Code, exceed the limit imposed on the Participant by Section 402(g) of the Code for the year in which the deferral occurred. Excess Elective Deferrals shall mean those Elective Deferrals that are includible in a Participant's gross income under Section 402(g) of the Code to the extent such Participant's Elective Deferrals for a taxable year exceed the dollar limitation under such Code section.

  • Qualified Ground Lease means each of the ground leases or ground subleases set forth on Schedule 1.01(d) hereto and for a Future Property means any ground lease (a) which is a direct ground lease or ground sublease granted by the fee owner of real property or a master ground lessee from such fee owner, (b) which may be transferred and/or assigned without the consent of the lessor (or as to which the lease expressly provides that (i) such lease may be transferred and/or assigned with the consent of the lessor and (ii) such consent shall not be unreasonably withheld or delayed) or subject to certain reasonable pre‑defined requirements, (c) which has a remaining term (including any renewal terms exercisable at the sole option of the lessee) of at least twenty (20) years, (d) under which no material default has occurred and is continuing, (e) with respect to which a Lien may be granted without the consent of the lessor (but subject to customary requirements regarding the nature of the holder of such Lien and prior notice to the lessor), (f) which contains customary and reasonable lender protection provisions, including, without limitation, provisions to the effect that (i) the lessor shall notify any holder of a Lien in such lease of the occurrence of any default by the lessee under such lease and shall afford such holder the option to cure such default, and (ii) in the event that such lease is terminated, such holder shall have the option to enter into a new lease having terms substantially identical to those contained in the terminated lease and (g) which otherwise contains no non-customary terms that are material and adverse to the lessee.

  • Qualified Tenant means a tenant (i) with income not exceeding that permitted by the Minimum Set-Aside Test who leases a Low-Income Apartment Unit in the Project under a lease having an original term of not less than 6 months at a rent which satisfies the Rent Restriction Test and (ii) complying with any other requirements imposed by the Project Documents.

  • Qualified Tenants means any tenants who have incomes of 60% or less of the area median gross income, as adjusted for family size, so as to make the Project eligible for LIHTC.

  • Elective Deferrals are all Salary Reduction Contributions and that portion of any Cash or Deferred Contribution which the Employer contributes to the Trust at the election of an Eligible Employee. Any portion of a Cash or Deferred Contribution contributed to the Trust because of the Employee's failure to make a cash election is an elective deferral. However, any portion of a Cash or Deferred Contribution over which the Employee does not have a cash election is not an elective deferral. Elective deferrals do not include amounts which have become currently available to the Employee prior to the election nor amounts designated as nondeductible contributions at the time of deferral or contribution.

  • Eligible Ground Lease means a ground lease containing terms and conditions customarily required by mortgagees making a loan secured by the interest of the holder of the leasehold estate demised pursuant to a ground lease, and shall include the following: (a) a remaining term (exclusive of any unexercised extension options) of 30 years or more from the date the applicable Property first becomes an Eligible Property; (b) the right of the lessee to mortgage and encumber its interest in the leased property without the consent of the lessor; (c) the obligation of the lessor to give the holder of any mortgage Lien on such leased property written notice of any defaults on the part of the lessee and agreement of such lessor that such lease will not be terminated until such holder has had a reasonable opportunity to cure or complete foreclosures, and fails to do so; (d) reasonable transferability of the lessee’s interest under such lease, including ability to sublease; and (e) clearly determinable rental payment terms which in no event contain profit participation rights.

  • Nonelective Contribution means an amount contributed by a participating

  • Good moral character means that term as defined and determined under 1974 PA 381, MCL 338.41 to 338.47.

  • Utility Allowance means a monthly allowance, as provided by the local public housing authority or as otherwise allowed by HUD rules and the GLO rules, for utilities and services (excluding telephone services) to be paid by the tenant. Contextual Note: Unless the context clearly indicates otherwise, an above definition for a singular term shall also apply (where appropriate) to the plural form of such term and vice versa to the extent necessary for giving the proper meanings to the terms defined in this Article II and/or terms otherwise used in this Agreement.

  • Qualified Non-Elective Contribution means any Employer contributions made pursuant to Section 4.1(c) and Section 4.6(b) and Section 4.8(f). Such contributions shall be considered an Elective Contribution for the purposes of the Plan and may be used to satisfy the "Actual Deferral Percentage" tests or the "Actual Contribution Percentage" tests.

  • Non-Elective Contribution means the Employer contributions to the Plan excluding, however, contributions made pursuant to the Participant's deferral election provided for in Section 4.2 and any Qualified Non-Elective Contribution used in the "Actual Deferral Percentage" tests.

  • EPP test Means one EPP command sent to a particular “IP address” for one of the EPP servers. Query and transform commands, with the exception of “create”, shall be about existing objects in the Registry System. The response shall include appropriate data from the Registry System. The possible results to an EPP test are: a number in milliseconds corresponding to the “EPP command RTT” or undefined/unanswered.

  • Elective Contribution means the Employer contributions to the Plan of Deferred Compensation excluding any such amounts distributed as excess “annual additions” pursuant to Section 4.11(a). In addition, any Employer Qualified Non-Elective Contribution made pursuant to Section 4.7(b) which is used to satisfy the “Actual Deferral Percentage” tests shall be considered an Elective Contribution for purposes of the Plan. Any contributions deemed to be Elective Contributions (whether or not used to satisfy the “Actual Deferral Percentage” tests or the “Actual Contribution Percentage” tests) shall be subject to the requirements of Sections 4.2(b) and 4.2(c) and shall further be required to satisfy the nondiscrimination requirements of Regulation 1.401(k)-1(b)(5) and Regulation 1.401(m)-1(b)(5), the provisions of which are specifically incorporated herein by reference.

  • Disability allowance means monthly payments during

  • Salary Reduction Agreement means an agreement between a dis- trict and an employee to reduce the employee’s salary for the pur- pose of making direct contributions to or purchases of a qualified investment product. Art. 6228a-5, Sec. 4(5), Tex. Rev. Civ. Stat.

  • Qualified Nonelective Contribution (QNEC) means the Employer's contributions to the Plan that are made pursuant to Sections 12.1(a)(4), 12.5 and 12.7 or pursuant to any other Plan provision which provides for such contributions.

  • Qualified Matching Contribution means any employer contribution allocated to an Eligible Employee’s account under any plan of an Employer or a Related Company solely on account of “elective contributions” made on his behalf or “employee contributions” made by him that is a qualified matching contribution as defined in regulations issued under Code Section 401(k), is nonforfeitable when made, and is distributable only as permitted in regulations issued under Code Section 401(k).

  • Excess Compensation means Compensation in excess of the following Integration Level: (Choose (1) or (2))

  • Safe haven means a readily recognizable and readily accessible site at which security is present or from which, in the event of an emergency, the transport crew can notify and wait for the local law enforcement authorities.

  • Employer Contribution means the amount paid by an employer, as determined by the employer rate, including the normal and deficiency rates, contributions, and funds wherever used in this chapter.

  • Qualified Nonelective Contributions means contributions of the Plan Sponsor or an Affiliate, other than Matching Contributions or Elective Deferrals, which are nonforfeitable when made, and which would be nonforfeitable regardless of the age or service of the Employee or whether the Employee is employed on a certain date, and which may not be distributed, except upon one of the events described under Code Section 401(k)(2)(B) and the regulations thereunder.

  • Qualifying project means (i) any education facility, including, but not limited to a school building, any functionally related and subordinate facility and land of a school building (including any stadium or other facility primarily used for school events), and any depreciable property provided for use in a school facility that is operated as part of the public school system or as an institution of higher education; (ii) any building or facility that meets a public purpose and is developed or operated by or for any public entity; (iii) any improvements, together with equipment, necessary to enhance public safety and security of buildings to be principally used by a public entity; (iv) utility and telecommunications and other communications infrastructure; (v) a recreational facility; (vi) technology infrastructure and services, including, but not limited to, telecommunications, automated data processing, word processing and management information systems, and related information, equipment, goods and services; (vii) any technology, equipment, or infrastructure designed to deploy wireless broadband services to schools, businesses, or residential areas; or (viii) any improvements necessary or desirable to any unimproved locally- or state-owned real estate.