CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. Application Of Aggregate Limit. For each Tax Year of this Agreement beginning with the first complete or partial year of the Tax Year that includes the date on which the Qualifying Time Period commences under this Agreement as provided in Section 2.3.C.i, and ending on December 31st of the third Tax Year following the end of the Tax Limitation Period, the District shall not be entitled to receive Supplemental Payments, computed under Sections 6.1 and 6.6, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, the amount of the Applicant's Stipulated Supplemental Payment Amount, calculated under Sections 6.1 and 6.6 for such Tax Year exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's Stipulated Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year shall be carried forward from year-to-year into subsequent Tax Years during the term of this Agreement, and to the extent not limited by the Aggregate Limit in any subsequent Tax Year during the term of this Agreement, shall be paid to the District. If there are changes in Chapter 313 of the Texas Tax Code that increase or decrease the limit on the amount of the Supplemental Payments that may be made to or on behalf of the District by the Applicant under this Article VI, any higher or lower amount of Supplemental Payments that first became due hereunder prior to the effective date of any such statutory change will not be adjusted. Any of the Applicant’s Stipulated Supplemental Payment Amounts which cannot be paid to the District prior to the end of the third Tax Year following the end of the Tax Limitation Period because such payment would exceed the Aggregate Limit, will be deemed to have been cancelled by operation of law, and the Applicant shall have no further obligation with respect thereto.
CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. APPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term of this Agreement beginning the Commencement Date and continuing thereafter through the third full Tax Year following the end of the Tax Limitation Period defined in Section 2.3(D)(ii) (Tax Year 2033), the District, or its successor beneficiary should one be designated under Section 6.5 below, shall not be entitled to receive Supplemental Payments, computed under Sections 6.2 and 6.3 above, that exceeds the Aggregate Limit.
A. If, for any Tax Year during the term of this Agreement the amount of the Applicant’s Supplemental Payment Amount, calculated under Section 6.2 above for such Tax Year, which, by virtue of the application of the payment limitation set forth in Section 7.1 below, are not payable to the District for such Tax Year, such sums shall be carried forward from year-to-year into subsequent Tax Years during the term of this Agreement, but shall be subject, in each subsequent Tax Year, to the Payment limit set forth in Section 7.1. Any of the Supplemental Payments which are not paid to the District after the third Tax Year following the end of the Tax Limitation Period because such payment would exceed the payment limitation under this Section will be deemed to have been cancelled by operation of law, and the Applicant shall have no further obligation with respect thereto.
B. Pursuant to Texas Tax Code Section 313.027(i), the parties agree that Supplemental Payments under this Section 6 shall be owed for each year of the period beginning in the first year of the Qualifying Time Period (2019 Tax Year) and ending the third year after the date the Applicant’s eligibility for a limitation agreement expires (2033 Tax Year). For illustrative purposes, the Supplemental Payment schedule is: 2019 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2020 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2021 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2022 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2023 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2024 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2025 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2026 Greater of $50,000 or $100 multiplied by the Dist...
CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. Application of Aggregate Limit. For each Tax Year during the term of this Agreement beginning with the Tax Year 2021, which is the Tax Year that includes the date on which the Qualifying Time Period commences under this Agreement as provided in Section 2.3.C.i, and ending with Tax Year 2034, which is the third Tax Year following the end of the Tax Limitation Period, the District, or its successor beneficiary should one be designated under Section 6.7 below, shall not be entitled to receive Supplemental Payments, computed under Sections 6.2, 6.3 and 6.4 above, that exceed the Aggregate Limit.
CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. Application of Aggregate Limit. For each Tax Year during the term of this Agreement beginning with the Tax Year 2021, which is the Tax Year that includes the date on which the
CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. Application of Net Aggregate Limit
CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. APPLICATION OF AGGREGATE LIMIT. If, for any Tax Year during the term of this Agreement the amount of the Applicant’s Supplemental Payment Amount, calculated under Section 6.2 above for such Tax Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant’s Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year, shall be carried forward from year-to- year into subsequent Tax Years during the term of this Agreement, and to the extent not limited by the Aggregate Limit in any subsequent Tax Year during the term of this Agreement, shall be paid to the District. If there are changes in Chapter 313 of the Texas Tax Code that increase or decrease the limit on the amount of the Supplemental Payments that may be made to or on behalf of the District by the Applicant under this Article IV, any higher or lower amount of Supplemental Payments that first became due hereunder prior to the effective date of any such statutory change will not be adjusted.
CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. APPLICATION OF AGGREGATE LIMIT. Pursuant to Texas Tax Code Section 313.027(i), the parties agree that Supplemental Payments under this Article VI shall be owed for each year of the period beginning in the first year of the Qualifying Time Period and ending the third year after the date the Applicant’s eligibility for a limitation agreement expires.
A. If, for any Tax Year during the Limitation Period of this Agreement, the amount of the Applicant’s Supplemental Payment, calculated under Section 6.2 above for such Tax Year, which, by virtue of the application of the payment limitation set forth in Section 7.1 below, are not payable to the District for such Tax Year, such sums shall be carried forward from year-to-year into subsequent Tax Years during the Limitation Period of this Agreement, but shall be subject, in each subsequent Tax Year, to the Payment limit set forth in Section 7.1.
B. Pursuant to Texas Tax Code Section 313.027(i), the parties agree that Supplemental Payments under this Section 6 shall be owed for each year of the period beginning in the first year of the Qualifying Time Period (2019 Tax Year) and ending the third year after the date the Applicant’s eligibility for a limitation agreement expires (2032 Tax Year). The limitation under Section 7.1 applies only to payments due during the Limitation Period. Failure to pay Supplemental Payments shall constitute Material Breach of this Agreement (subject to applicable notice and cure periods), as set forth more fully herein at Article IX.
