ASC Commencement Date. The Effective Date.
ASC Commencement Date. The first day of the month immediately following the Substantial Completion of any portion of the Project, with the amount of the Annual Service Charge upon commencement being determined and controlled by Section 4.2 of this Agreement, as prorated for the remainder of the year the Annual Service Charge commences. Auditor’s Report – A certified, audited financial statement outlining the financial status of the Entity and reporting the Annual Gross Revenue, Net Profit, Allowable Net Profit, Annual Gross Revenue in relation to Total Project Cost, the contents of which have been prepared in a manner consistent with the LTTEL and to the extent also relevant in conformance with generally accepted accounting principles, prepared by a certified public accountant who is licensed to practice that profession in the State of New Jersey. Certificate of Occupancy – The document, whether temporary or permanent, issued by the Borough pursuant to N.J.S.A. 52:27D-133 authorizing occupancy of a building, in whole or in part. Clerk – The municipal clerk of the Borough.
ASC Commencement Date. The date of issuance of Certificate(s) of Occupancy for the entire Project authorizing the occupancy of the entire Project. The thirty (30) year term (the “Exemption Term”) shall run from the ASC Commencement Date.
ASC Commencement Date. The first day of the month immediately following the Substantial Completion of any portion of the Project.
ASC Commencement Date. The first day of the month following the date that the Project is eligible for its first Certificate of Occupancy, on which date the Entity shall commence payment of the Annual Service Charge, as more fully set forth herein.
