Common use of Qualified Organization Clause in Contracts

Qualified Organization. The Local Grantee is a qualified organization under Section 170 of the Internal Revenue Code, as amended from time to time, and under the regulations promulgated thereunder to receive conservation easements. Further, the State Grantee is authorized pursuant to Section 901.21 of the Ohio Revised Code to hold agricultural easements under the laws of the State of Ohio for the public purpose of retaining the Protected Property predominantly in agriculture.