Agreement to Make Payments. As long as the Facility is owned by or leased to the Agency, the Company agrees to pay annually to the Affected Tax Jurisdictions as a payment- in-lieu-of-taxes, on or before September 1 of each year for School District taxes, and on or before January 1 of each year for County and Town taxes (collectively, the "Payment Date"), commencing on September 1, 2024, and January 1, 2025, respectively, an amount equal to the Total Tax Payment, as described in Schedule A attached hereto. The Company shall make all such Total Tax Payments in the amounts and on the dates specified above, whether or not any such Total Tax Payment is billed by the Agency, the Affected Tax Jurisdictions, or any other party. The parties agree and acknowledge that payments made hereunder are to obtain revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are not on the tax rolls.
Agreement to Make Payments. In the event that (i) an Acquisition Proposal shall have been made known to the Company or any Company Subsidiary, or has been made directly to the Company's stockholders generally or any person shall have publicly announced an intention (whether or not conditional) to make an Acquisition Proposal and thereafter Company Stockholder Approval is not obtained, or (ii) the Merger Agreement is terminated by Buyer pursuant to Section 9.01(h) or Section 9.01(l) thereof, and if in either case during the period ending June 30, 2000 the Holder sells, assigns or transfers all or any of the Subject Shares (whether by operation of law or otherwise) for consideration in excess of $3.25 per share, then Holder shall pay to Buyer all consideration received by the Holder in connection with such transfer in excess of $3.25 per share. The Holder shall make such payment to Buyer promptly, and in any event no later than three business days, after receipt by the Holder of the consideration from the holder's transferee as aforesaid.
Agreement to Make Payments. The parties agree and acknowledge that payments made under this Agreement are for purposes of obtaining revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are exempt from the payment of real property taxes pursuant to Section 412-a of the RPTL and Section 874 of the General Municipal Law. The Company shall pay to the Agency, on September 1 (“Payment Date”) of each year beginning on September 1, 2025 (for the benefit of the Affected Tax Jurisdictions), as an in lieu of tax payment, an amount equal to the Tax Payments as set forth on Schedule A (the “Tax Payments”) for the periods described in Section 1.3. All Tax Payments shall be mailed to the Agency at: 000 Xxxxxxxxx Xxxxxx, Suite 200, Yonkers, New York 10701, or as otherwise directed by the Agency. The Company hereby agrees to make all such Tax Payments without further notice or invoice from the Agency or the Affected Tax Jurisdictions. All checks shall be made payable as directed by the Agency from time to time.
Agreement to Make Payments. The CMRTA agrees to pay the amount of $2,626,350.04, without interest, to the City and promises to make payments to the City in accordance with the repayment schedule set forth in Exhibit A attached hereto and incorporated herein until the City has been paid in full. This amount is being paid without regard to the amount of franchise fee paid by SC&EG to the City or the amount the City has agreed to reimburse SCE&G. Each payment will be made to the City within five
Agreement to Make Payments. The Company agrees that it will make annual payments in lieu of real estate taxes with respect to the Project Facility to the Agency in the amounts hereinafter provided for redistribution to the respective Taxing Entities in proportion to the amounts which said Taxing Entities would have received had not the Project Facility been acquired and owned by the Agency.
Agreement to Make Payments. The parties agree and acknowledge that payments made under this Agreement are for purposes of obtaining revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are exempt from the payment of real property taxes pursuant to Section 412-a of the Real Property Tax Law and Section 874 of the General Municipal Law. The Company shall pay to the Agency (for the benefit of the Affected Tax Jurisdictions), as an in lieu of tax payment, an amount equal to the Tax Payments as set forth on Schedule A (the “Tax Payments”) for the periods described in Section 1.3. All Tax Payments shall be mailed to the Agency at: City of Yonkers Industrial Development Agency (Attn: Executive Director), 000 Xxxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxx Xxxx 00000, or as otherwise directed by the Agency. The Company hereby agrees to make all such Tax Payments without further notice or invoice from the Agency or the Affected Tax Jurisdictions. All checks shall be made payable as directed by the Agency from time to time.
Agreement to Make Payments. As long as the Facility is owned by or leased to the Agency, the Company agrees to pay annually to the Affected Tax Jurisdictions as a payment- in-lieu-of-taxes, on or before April 1 of each year for City taxes, on or before September 1 of each year for School District taxes, and on or before January 1 of each year for County taxes, (collectively, the "Payment Date"), commencing on April 1, 2025, September 1, 2025, and January 1, 2026, respectively, an amount equal to the Total Tax Payment, as described in Schedule A attached hereto. The Company shall make all such Total Tax Payments in the amounts and on the dates specified above, whether or not any such Total Tax Payment is billed by the Agency, the Affected Tax Jurisdictions, or any other party. The parties agree and acknowledge that payments made hereunder are to obtain revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are not on the tax rolls.
Agreement to Make Payments. The parties agree and acknowledge that payments made under this Agreement are for purposes of obtaining revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are exempt from the payment of real property taxes pursuant to Section 412-a of the Real Property Tax Law and Section 874 of the General Municipal Law. The Company shall pay to the Agency, on September 1 (“Payment Date”) of each year beginning on September 1, 2024 (for the benefit of the Affected Tax Jurisdictions), as an in lieu of tax payment, an amount equal to the Tax Payments as set forth on Schedule A (the “Tax Payments”) for the periods described in Section 1.3. All Tax Payments shall be mailed to the Agency at: 000 Xxxxxxxxx Xxxxxx, Xxxxx 000, Xxxxxxx, Xxx Xxxx 00000, or as otherwise directed by the Agency. The Company hereby agrees to make all such Tax Payments without further notice or invoice from the Agency or the Affected Tax Jurisdictions. All checks shall be made payable as directed by the Agency from time to time.
Agreement to Make Payments. The Real Estate Holding Company and the Operating Company agree that they shall make annual payments in lieu of property taxes in the amounts hereinafter provided, to the Agency pursuant to the provisions hereof (the “Total PILOT Payment”). The Real Estate Holding Company and the Operating Company also agree to give the assessor a copy of this Payment in Lieu of Tax Agreement. The Total PILOT Payment due hereunder shall be paid by the Real Estate Holding Company and the Operating Company to the Agency for distribution to the appropriate officer or officers of the respective Taxing Entities entitled to receive same pursuant to the provisions hereof. The Real Estate Holding Company and the Operating Company, jointly and severally, shall pay interest and late charges as required by Section 874 of the Act. The first year of this Agreement shall relate to the 2024-2025 School Tax and the 2025 Town and County tax years.
Agreement to Make Payments. The parties agree and acknowledge that payments made under this Agreement are for purposes of obtaining revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are exempt from the payment of real property taxes pursuant to Section 412-a of the Real Property Tax Law and Section 874 of the General Municipal Law. Provided that the Company shall receive the full exemption from Real Estate Taxes contemplated by this Agreement, the Company shall pay to the Agency, on December 1 of each year beginning on December 1, 2018 (for the benefit of the Affected Tax Jurisdictions), as an in lieu of tax payment, an amount equal to the Tax Payments as set forth on Schedule A (the "Tax Payments") for the periods described in Section 1.3. All Tax Payments shall be mailed to the Agency at: 000 Xxxxxxxxx, Xxxxx 000, Xxxxxxx, Xxx Xxxx 0000, or as otherwise directed by the Agency. The Company hereby agrees to make all such Tax Payments without further notice or invoice from the Agency or the Affected Tax Jurisdictions. All checks shall be made payable as directed by the Agency from time to time. In the event that any Payment Date falls on a day other than a "Business Day" (which shall mean all calendar days from Monday through Friday, excluding national holidays), then the Payment shall not be due until the next following Business Day.
