First placed in service definition

First placed in service means the first use of the property by the taxpayer.)
First placed in service means the first time the building is placed in service by any person. See § 1.168(k)-1(c)(1)(iii). A building is first placed in service when first placed

Related to First placed in service

  • Placed in Service means: 1) for a new or existing building used as residential rental property, the date on which the building is ready and available for its specifically assigned function (i.e. the date on which the first Unit in the building is certified as being suitable for occupancy in accordance with state or local law); and 2) with respect to rehabilitation expenditures that are treated as a separate new building, those buildings are placed in service at the close of any twenty-four (24) month period over which the expenditures are aggregated.

  • In-Service Date means the date on which the Facility and System Modifications (if applicable) are complete and ready for service, even if the Facility is not placed in service on or by that date.

  • Incremental Facility Closing Date has the meaning set forth in Section 2.14(d).

  • Change in service means any addition to, deletion from, suspension of or other modification, to the Services, or to the quality, function or as delineated in this agreement, including any such addition, deletion, suspension or other modification, which requires a change in one or more of the service specification and the completion schedule.

  • In-service means an educational program, which is designed to increase the knowledge, skills, and overall effectiveness of personnel.