Common use of CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND Clause in Contracts

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 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 through 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 through 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 after any payment due for 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, law and the Applicant shall have no further obligation with respect thereto.

CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT AND. Application Of Aggregate LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term 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, Commencement Date and ending on December 31st of continuing thereafter through the third full Tax Year following the end of the Tax Limitation PeriodPeriod defined in Section 2.3(D)(ii) (Tax Year 2017), the District 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 6.1 6.2 and 6.66.3 above, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's Stipulated ’s Supplemental Payment Amount, calculated under Sections 6.1 and 6.6 section 6.2 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's Stipulated ’s Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year 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 VIIV, 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 LimitAPPLICATION OF AGGREGATE LIMIT. The Parties agree that for each Tax Year during the Qualifying Time Period, the Applicant’s Stipulated Supplemental Payment shall be the amount set forth in Section 6.2.D. For each Tax Year of the Value Limitation Period, the Applicant’s Stipulated Supplemental Payment Amount will the lesser of the Annual Limit as defined in Section 1.2 or 40% of the Net Tax Benefit. The Net Tax Benefit will be calculated annually based upon the then most current estimate of tax savings to the Applicant, which will be made, based upon assumptions of student counts, tax collections, and other applicable data, in accordance with the following formula: Taxable Value of the Applicant’s Qualified Property for such Tax Year had this Agreement not been entered into by the Parties (i.e., the Taxable Value of the Applicant’s Qualified Property used for the District’s interest and sinking fund tax purposes for such Tax Year, or school taxes due to any other governmental entity, including the State of Texas, for such Tax Year); The Taxable Value of the Applicant’s Qualified Property for such Tax Year after giving effect to this Agreement (i.e., the Taxable Value of the Applicant’s Qualified Property used for the District’s maintenance and operations tax purposes for such Tax Year, or school taxes due to any other governmental entity, including the State of Texas, for such Tax Year); The District’s maintenance and operations tax rate for such Tax Year, or the school tax rate of any other governmental entity, including the State of Texas, for such Tax Year; Any amounts previously paid to the District under Article IV; The number 0.40; In the event that there are changes in the data upon which the calculations set forth herein are made, the Third Party described in Section 4.3 above shall adjust the Applicant’s Stipulated Supplemental Payment Amount calculation to reflect such changes in the data. For each Tax Year during the term 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, Commencement Date and ending on December 31st of continuing thereafter through the third full Tax Year following the end of the Tax Limitation PeriodPeriod defined in Section 2.3(D)(ii), the District 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 6.1 6.2 and 6.66.3 above, that exceed exceeds the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's Stipulated ’s Supplemental Payment Amount, calculated under Sections 6.1 and 6.6 Section 6.2 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's Stipulated ’s Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year Year, shall be carried forward from year-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 VIIV, 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 For each Tax Year during the term of this Agreement beginning the Applicant’s Stipulated Supplemental Payment Amounts which cannot be paid to the District prior to the end of Commencement Date and continuing thereafter through the third full Tax Year following the end of the Tax Limitation Period because such payment would exceed defined in Section 2.3(D)(ii) (Tax Year 2029), the District, or its successor beneficiary should one be designated under Section 6.6 below shall not be entitled to receive Supplemental Payments, computed under Sections 6.2 and 6.3 above, that exceeds the Aggregate Limit. If, will 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 deemed to have been cancelled by operation carried forward from year- to-year into subsequent Tax Years during the term of lawthis 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 shall have no further obligation with respect theretounder 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. 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 through 6.6, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, the amount of the Applicant's ’s Stipulated Supplemental Payment Amount, calculated under Sections 6.1 and through 6.6 for such Tax Year exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's ’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 after any payment due for 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, 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 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 through 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 through 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 after any payment due for 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term of this Agreement beginning with the first complete or partial year of 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 on December 31st of with the Tax Year 2036, which is the third Tax Year following the end of the Tax Limitation Period, the District District, or its successor beneficiary should one be designated under Section 6.8 below, shall not be entitled to receive Supplemental Payments, computed under Sections 6.1 6.2, 6.3, 6.4 and 6.66.5 above, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's ’s Stipulated Supplemental Payment Amount, calculated under Sections 6.1 6.2, 6.3, 6.4 and 6.6 6.5 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's ’s Stipulated Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year 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 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 full Tax Year (2036) following the end of the Tax Limitation Period Period, as defined in Section 2.3(D)(ii), 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term 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, Commencement Date and ending on December 31st of continuing thereafter through the third full Tax Year following the end of the Tax Limitation PeriodPeriod defined in Section 2.3(D)(ii) (Tax Year 2033), the District 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 6.1 6.2 and 6.66.3 above, that exceed exceeds the Aggregate Limit. . A. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's Stipulated ’s Supplemental Payment Amount, calculated under Sections 6.1 and 6.6 for such Tax Year exceeds the Aggregate Limit Section 6.2 above for such Tax Year, which, by virtue of the difference between application of the Applicant's Stipulated Supplemental Payment Amount so calculated and payment limitation set forth in Section 7.1 below, are not payable to the Aggregate Limit District for such Tax Year Year, such sums shall be carried forward from year-to-year into subsequent Tax Years during the term of this Agreement, and but shall be subject, in each subsequent Tax Year, to the extent not limited by the Aggregate Limit Payment limit set forth in any subsequent Tax Year during the term of this Agreement, shall be paid to the DistrictSection 7.1. If there are changes in Chapter 313 of the Texas Tax Code that increase or decrease the limit on the amount Any 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 which are not be adjusted. Any of the Applicant’s Stipulated Supplemental Payment Amounts which cannot be paid to the District prior to the end of after the third Tax Year following the end of the Tax Limitation Period because such payment would exceed the Aggregate Limit, 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 with the final year of the limitation period (2029 Tax Year); provided, however, that the Applicant may, in its sole discretion, elect to defer payment of the Supplemental Payments that are due and owing during the first year of the Qualifying Time Period. Amounts so deferred shall be carried forward from year-to-year into subsequent Tax Years during the term of this Agreement until paid. 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 (may be deferred) 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 District’s ADA for the previous school year 2027 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2028 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year 2029 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year

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, Payments 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 Amount for such Tax Year exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's ’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 after any payment due for 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term of this Agreement beginning with the first complete or partial year of Tax Year 2019, 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 on December 31st of with the Tax Year 2034, which is the third Tax Year following the end of the Tax Limitation Period, the District District, or its successor beneficiary should one be designated under Section 6.8 below, shall not be entitled to receive Supplemental Payments, computed under Sections 6.1 6.2, 6.3, 6.4 and 6.66.5 above, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's ’s Stipulated Supplemental Payment Amount, calculated under Sections 6.1 6.2, 6.3, 6.4 and 6.6 6.5 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's ’s Stipulated Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year 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 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 full Tax Year (2034) following the end of the Tax Limitation Period Period, as defined in Section 2.3(D)(ii), 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 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 6.66.2, 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 6.2 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 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 District, or its successor beneficiary should one be designated under Section 6.1(e), shall not be entitled to receive Supplemental Payments, computed under Sections 6.1 and 6.66.2, 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 6.2 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 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 through 6.6, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, the amount of the Applicant's ’s Stipulated Supplemental Payment Amount, calculated under Sections 6.1 and through 6.6 for such Tax Year exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's ’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 after any payment due for 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term 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, Commencement Date and ending on December 31st of continuing thereafter through the third full Tax Year following the end of the Tax Limitation PeriodPeriod defined in Section 2.3(D)(ii) (Tax Year 2017), the District 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 6.1 6.2 and 6.66.3 above, that exceed exceeds the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's Stipulated ’s Supplemental Payment Amount, calculated under Sections 6.1 and 6.6 Section 6.2 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's Stipulated ’s Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year 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 VIIV, 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 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 through 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 through 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term of this Agreement beginning with the first complete or partial year of Tax Year 2018, 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 on December 31st of with Tax Year 2033, which is the third Tax Year following the end of the Tax Limitation Period, the District 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 6.1 6.2, 6.3 and 6.66.4 above, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's ’s Stipulated Supplemental Payment Amount, calculated under Sections 6.1 6.2, 6.3 and 6.6 6.4 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's ’s Stipulated Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year 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 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 full Tax Year (2033) following the end of the Tax Limitation Period Period, as defined in Section 2.3(D)(ii), 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year during the term 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, Commencement Date and ending on December 31st of continuing thereafter through the third full Tax Year following the end of the Tax Limitation PeriodPeriod defined in Section 2.3(D)(ii) (Tax Year 2017), the District 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 6.1 6.2 and 6.66.3 above, that exceed the Aggregate Limit. If, for any Tax Year during the term of this Agreement, Agreement the amount of the Applicant's Stipulated ’s Supplemental Payment Amount, calculated under Sections 6.1 and 6.6 section 6.2 above for such Tax Year Year, exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant's Stipulated ’s Supplemental Payment Amount so calculated and the Aggregate Limit for such Tax Year 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 VIIV, 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 LimitAPPLICATION OF AGGREGATE LIMIT. For each Tax Year of this Agreement beginning with the first complete or partial year of Tax Year 2018, 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 on December 31st of with the Tax Year 2032, which is the third Tax Year following the end of the Tax Limitation Period, the District District, or its successor beneficiary should one be designated under Section 6.1.5, shall not be entitled to receive Supplemental Payments, computed under Sections 6.1 and 6.66.2, 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 6.2 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.