Amended PILOT Agreement Base Amount and New PILOT Agreement Base Amount Sample Clauses

Amended PILOT Agreement Base Amount and New PILOT Agreement Base Amount. Except as otherwise provided in Section 1.4.5, the Base Amount payable under any amendment to this Agreement and under each New PILOT Agreement involving any of the Added Parcels shall be the greater of the sum of the 2008/2009 School Taxes and the 2008 Town and County Tax paid with respect to such Added Parcel(s) or the sum of the School and Town and County tax amount with respect to such Added Parcel(s) in the tax years the same are added by amendment to this PILOT Agreement or made subject to a New PILOT Agreement (collectively, “Base Taxes”). If such New PILOT Agreement is for any real property which immediately prior to the effectiveness of such New PILOT Agreement is subject to this PILOT Agreement, the Base Amount with respect to such real property shall not be payable under such New PILOT Agreement (and, instead, shall continue to be paid under the terms of this PILOT Agreement) unless the Company (or the related entity entering into the New PILOT Agreement) elects to allocate any or all of the Base Amount established in this Agreement to such New PILOT Agreement (“Re- allocated Base”), in which case the Re-allocated Base shall be treated as the Base Amount under the New PILOT Agreement and the balance shall be deemed the Base Amount under this Agreement, and continue to be paid as such. The amount of any PILOT Payment under any New PILOT Agreement in excess of (i) the Base Amount set forth in the New PILOT Agreement, and
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Related to Amended PILOT Agreement Base Amount and New PILOT Agreement Base Amount

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