Host Community Benefit Payment Sample Clauses

Host Community Benefit Payment. The failure by Seller to make a payment to the appropriate utility(s) in conformance with the Host Community Benefit Program as adopted by the NYS Public Service Commission under Case 20-E-0249, and such failure is not cured within sixty (60) days of the due date of such payment; or]
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Host Community Benefit Payment. Pursuant to the Amended and Restated Benefits Agreement dated December 8, 2016 and other prior benefit agreements between the Parties (collectively the “Prior Benefit Agreements”), the Parties agreed that one-half of any Benefits Payments over $1,000,000.00 received by the Town from WMNY in any one calendar year for Landfilled Materials permanently landfilled or BUD used in that portion of the Facility located in the Town were to be allocated as a credit (the “Guaranteed Payments Credits”) against future Benefit Payments to be made on a per ton basis or against the cumulative Guaranteed Payments made by WMNY to the Town as required by the provisions of section VII of the Prior Benefits Agreements with such excess payments being the Deferred Revenue Balance. This credit operates as a reduction of $1.60 in the per ton fee to be paid to the Town so that, to the extent that cumulative payments credits are not offset, the Town would receive a benefit of $1.60 per ton with the other $1.60 being applied as an offset to the Guaranteed Payments Credits until such credit is reduced to zero, at which time, the Town will receive the full $3.20 per ton on all MSW accepted and permanently landfilled in the Town and $1.35 per ton for all BUD. The Parties hereby agree that the Deferred Revenue Balance is Nine Million Three Hundred Twenty-Eight Thousand Dollars ($9,328,000.00) as of December 31, 2021. Subject to the foregoing, WMNY agrees to make the following payments to the Town (collectively the “Benefit Payments”), which Benefit Payments shall be made in accordance with Subsection A below or Subsection B below, at the election of the Town, with such election being made in writing by the Town to WMNY no later than thirty (30) days from the effective Date of this HCA, with such election to apply for the full five-year term of this HCA, Should the Town fail to make such election within the 30 days, the benefits will be calculated in accordance with Option B.
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