Calculation of Annual Service Charge Sample Clauses

Calculation of Annual Service Charge. In consideration of the Township granting the Redeveloper the exemption as set forth in Section 4.1 of this Financial Agreement, the Redeveloper shall pay to the Township for municipal services supplied to the Project, as provided in the Exemption Law, an Annual Service Charge as set forth below. The Project shall not be exempt from Land Taxes in accordance with N.J.S.A. 40A:20-12. Accordingly, Land Taxes will be assessed against the Property, and the Redeveloper, or its Transferee, shall be entitled to a credit against the Annual Service Charge for the amount, without interest, of the Land Tax payments made in the last four (4) preceding quarterly installments each year during the Exemption Term.
Sample 1
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Calculation of Annual Service Charge. (a) Annual Service Charge As of the Annual Service Charge Start Date the Annual Service Charge shall be an amount of $165,000, prorated as stated in Section 4.1. Beginning in year six (6) and through year ten (10) the Annual Service Charge shall be $201,000. Beginning in year eleven (11) and through year twenty six (26) the Annual Service Charge shall increase by four percent (4%) over the prior year’s Annual Service Charge. Beginning in year twenty seven (27) and through year thirty (30) the Annual Service Charge shall increase by three percent (3%) over the prior year’s Annual Service Charge. Beginning in the sixteenth (16th) year following the Annual Service Charge Start Date, the Annual Service Charge shall further increase as set forth in (b) below.
Sample 1
Calculation of Annual Service Charge. In consideration of the Borough granting the Entity the Long Term Tax Exemption set forth in this Financial Agreement, the Entity shall pay to the Borough for municipal services supplied to the Project, as provided in the Exemption Law, an Annual Service Charge as follows: (i) From the ASC Commencement Date until the 10th anniversary of the ASC Commencement Date, the Annual Service Charge shall be equal to the greater of ten percent (10%) of AGR or the Minimum Annual Service Charge; (ii) From the first day after the 10th anniversary of the ASC Commencement Date until the 20th anniversary of the ASC Commencement Date, the Annual Service Charge shall be equal to the greater of eleven percent (11%) of AGR or the Minimum Annual Service Charge; (iii) From the first day after the 20th anniversary of the ASC Commencement Date until the 23rd anniversary of the ASC Commencement Date, the Annual Service Charge shall be equal to the greater of twelve percent (12%) of AGR or the Minimum Annual Service Charge; (iv) From the first day after the 23rd anniversary of the ASC Commencement Date until the 25th anniversary of the ASC Commencement Date, the Annual Service Charge shall be equal to the greater of thirteen percent (13%) of AGR or the Minimum Annual Service Charge; (v) From the first day after the 25th anniversary of the ASC Commencement Date until the 27th anniversary of the ASC Commencement Date, the Annual Service Charge shall be equal to the greater of fourteen percent (14%) of AGR or the Minimum Annual Service Charge; (vi) From the first day after the 27th anniversary of the ASC Commencement Date until the 30th anniversary of the ASC Commencement Date, the Annual Service Charge shall be equal to the greater of fifteen percent (15%) of AGR or the Minimum Annual Service Charge.
Sample 1

Related to Calculation of Annual Service Charge

  • Calculation of Amounts Binding Effect of Interpretations and Actions of Master Servicer...............................

  • Calculation of Charges Contractor shall provide an invoice to the City on a monthly basis for goods delivered and/or Services completed in the immediate preceding month, unless a different schedule is set out in Appendix B, “Calculation of Charges.” Compensation shall be made for goods and/or Services identified in the invoice that the City, in his or her sole discretion, concludes has been satisfactorily performed. In no event shall the amount of this Agreement exceed [insert whole dollar amount in numbers and words -- no pennies and no “.00”]. The breakdown of charges associated with this Agreement appears in Appendix B, “Calculation of Charges.” A portion of payment may be withheld until conclusion of the Agreement if agreed to by both Parties as retainage, described in Appendix B. In no event shall City be liable for interest or late charges for any late payments. City will not honor minimum service order charges for any services covered by this Agreement.

  • Calculation and Payment of Additional Rent Tenant shall pay to Landlord, in the manner set forth in Section 4.4.1, below, and as Additional Rent, Tenant’s Share of Direct Expenses for each Expense Year.

  • Calculation of Payments The State shall use the fee schedule set forth in Attachment E to the contract (Fee Schedule) in determining the value of the work performed up to the time of termination. In the case of partially completed engineering services, eligible costs will be calculated as set forth in Attachment E, Fee Schedule. The sum of the provisional overhead percentage rate for payroll additives and for general and administrative overhead costs during the years in which work was performed shall be used to calculate partial payments. Any portion of the fixed fee not previously paid in the partial payments shall not be included in the final payment.

  • Calculation of Fees Ameriprise will have sole responsibility, and Ameriprise’s records will provide the sole basis, for calculating fees for which Ameriprise invoices under this Agreement. However, the Issuer Entities may provide records to assist Ameriprise in its calculations.

  • Service Charge The Tenant must pay the Service Charge in accordance with Part 1 of Schedule 3. The Tenant must pay: VAT on any consideration in respect of a VAT Supply to the Tenant by the Landlord at the same time as the consideration is paid; and on demand VAT (and interest, penalties and costs where these are incurred because of anything the Tenant does or fails to do) charged in respect of any VAT Supply to the Landlord in respect of the Premises where that VAT is not recoverable by the Landlord from HM Revenue & Customs. The Tenant must not do anything that would result in the disapplication of the option to tax in respect of the Landlord’s interest in the Building. The Tenant must pay interest on the Rents and on all other sums not paid on or by the due date (or, if no date is specified, not paid within 10 Business Days after the date of demand). Interest will be payable at the Interest Rate for the period starting on the due date (or date of demand) and ending on the date of payment. The Tenant must pay on demand the Landlord’s costs (including legal and surveyor’s charges and bailiff’s and enforcement agent’s fees) and disbursements in connection with: any breach of the Tenant’s obligations in this Lease, including the preparation and service of a notice under section 146 of the 1925 Act; any application by the Tenant for consent under this Lease, whether that application is withdrawn or consent is granted or lawfully refused, except in cases where the Landlord is required to act reasonably and the Landlord unreasonably refuses to give consent; [and] [carrying out works to the Premises to improve their Environmental Performance where the Tenant, in its absolute discretion, has consented to the Landlord doing so; and]31 the preparation and service of a schedule of dilapidations served no later than six months after the End Date. Third party indemnity32 The Tenant must indemnify the Landlord against all actions, claims, demands made by a third party, all costs, damages, expenses, charges and taxes payable to a third party and the Landlord’s own liabilities, costs and expenses incurred in defending or settling any action, claim or demand in respect of any personal injury or death, damage to any property and any infringement of any right, in each case arising from: the state and condition of the Premises or the Tenant’s use of them; the exercise of the Tenant’s rights; or the carrying out of any Permitted Works. In respect of any claim covered by the indemnity in clause 4.7.1, the Landlord must: give formal notice to the Tenant of the claim as soon as reasonably practicable after receiving notice of it; provide the Tenant with any information and assistance in relation to the claim that the Tenant may reasonably require and the Landlord is lawfully able to provide, subject to the Tenant paying to the Landlord all costs incurred by the Landlord in providing that information and assistance; and mitigate its loss (at the Tenant’s cost) where it is reasonable for the Landlord to do so.

  • Monthly Fees ACS will xxxx Customer each month during the term of this Agreement based on number of "Actions" which occurred during the prior month. The definition of "Actions" and fees for each Action will be documented in each Task Order. Customer shall cause ACS to be paid the foregoing fees on a monthly basis within thirty (30) days of ACS' delivery of an invoice for the preceding month's Actions.

  • Determination of Applicable Interest Rate As soon as practicable on each Interest Rate Determination Date, Bank shall determine (which determination shall, absent manifest error in calculation, be final, conclusive and binding upon all parties) the interest rate that shall apply to the LIBOR Advances for which an interest rate is then being determined for the applicable Interest Period and shall promptly give notice thereof (in writing or by telephone confirmed in writing) to Borrower.

  • CALCULATION OF NET ASSET VALUE U.S. Trust will calculate the Fund's daily net asset value and the daily per-share net asset value in accordance with the Fund's effective Registration Statement on Form N-2 (the "Registration Statement") under the Securities Act of 1933, as amended (the "Securities Act"), including its current prospectus. If so directed, U.S. Trust shall also calculate daily the net income of the Fund

  • Service Charges No service charge shall be made for any exchange or registration of transfer of Warrants.

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