CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (2024) and ending December 31 of the third year following the end of the Tax Limitation Period (2038), Supplemental Payments shall be owed. The amount of each Supplemental Payment shall be equal to the limitation amount calculated in accordance with Section 6.2 above, except that for all Tax Years during the Tax Limitation Period, the supplemental payment amount shall be subject to the Aggregate Limit as provided in the following paragraph. If, for any Tax Year during the Tax Limitation Period of this Agreement the Cumulative Payments calculated under Sections IV, V and VI of this Agreement, exceed the Aggregate Limit for such Tax Year, the Applicant’s Supplemental Payment amount for such Tax Year and shall be reduced by the difference between the Cumulative Payments and the Aggregate Limit for such Tax Year, with such difference being carried forward from year-to- year until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualifying Time Period or in the three years following the end of the Tax Limitation Period. Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the following:
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CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (20242020) and ending December 31 of the third year following the end of the Tax Limitation Period (20382034), Supplemental Payments shall be owed. The amount of each Supplemental Payment shall owed for Tax Year 2020 will be equal to paid at the limitation amount calculated in accordance with Section 6.2 above, except that same time the Supplement Payment is paid for all Tax Years during Year 2021. During the Qualifying Time Period and for the three years following the end of the Tax Limitation Period, the supplemental payment amount shall not be subject to the Aggregate Limit as provided in the following paragraphLimit. If, for any Tax Year during the Tax Limitation Period of this Agreement the Cumulative Payments Payment Amount, calculated under Sections IV, V and VI of this Agreement, exceed exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant’s Supplemental Payment amount for such Tax Year and shall be reduced by the difference between the Cumulative Payments Amount so calculated and the Aggregate Limit for such Tax Year, with such difference being shall be carried forward from year-to- to-year until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualifying Qualified Time Period or in the three years following the end of the Tax Limitation Period.
Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the following:
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CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (20242025) and ending December 31 of the third year following the end of the Tax Limitation Period (20382040), Supplemental Payments shall be owed. The amount of each Supplemental Payment shall be equal to the limitation amount calculated in accordance with Section 6.2 above, except that for all Tax Years during the Tax Limitation Period, the supplemental payment amount shall be subject to the Aggregate Limit as provided in the following paragraph. If, for any Tax Year during the Tax Limitation Period of this Agreement the Cumulative Payments calculated under Sections IV, V and VI of this Agreement, exceed the Aggregate Limit for such Tax Year, the Applicant’s Supplemental Payment amount for such each Tax Year and shall be reduced by the difference between the Cumulative Payments and the Aggregate Limit for such Tax Year, with such difference being carried forward from year-to- to-year until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualifying Time Period or in and the three years following three-year period after the end of the Tax Limitation Period.
Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the following:
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CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (20242020) and ending December 31 of on the third year following the end of the Tax Limitation Period (20382034), Supplemental Payments in the amount permitted by Section 6.2 shall be owed. The amount of each Supplemental Payment shall be equal to the limitation amount calculated in accordance with Section 6.2 above, except that for all Tax Years during the Tax Limitation Period, the supplemental payment amount shall be subject to the Aggregate Limit as provided Limit. Notwithstanding the foregoing, however, in the event that the taxable value of the Qualified Property shall exceed $120,000,000 in Tax Year 2031, supplemental payments for the three years following paragraphthe end of the Tax Limitation Period (2032, 2033 and 2034) shall not be subject to or reduced by the Aggregate Limit. If, for any Tax Year during the Tax Qualifying Time Period or the Limitation Period of this Agreement Agreement, the Cumulative Payments Payment Amount, calculated under Sections IV, V and VI of this Agreement, exceed exceeds the Aggregate Limit for such Tax Year, the difference between the Applicant’s Supplemental Payment amount for such Tax Year and shall be reduced by the difference between the Cumulative Payments so calculated and the Aggregate Limit for such Tax YearYear shall be reduced to the Aggregate Limit amount, with such difference being and the remaining balance shall be carried forward from year-to- to-year until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due , subject to the District during the Qualifying Time Period or limitations set forth in the three years following the end of the preceding paragraph. Any amounts carried forward under this section shall be extinguished if not paid by Tax Limitation PeriodYear 2034.
Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the following:
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CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (20242022) and ending December 31 of the third year following the end of the Tax Limitation Period (20382035), Supplemental payments shall be owed. Supplemental Payments shall be owed. The amount of each Supplemental Payment shall be equal to the limitation amount calculated in accordance with Section 6.2 above, except that for all Tax Years during the Tax Limitation Period, the supplemental payment Supplemental Payment amount shall be subject to the Aggregate Limit as provided in the following paragraph. If, for any Tax Year during the Tax Limitation Period of this Agreement the Cumulative Payments calculated under Sections IV, V and VI of this Agreement, exceed the Aggregate Limit for such Tax Year, the Applicant’s Supplemental Payment amount for such each Tax Year and shall be reduced by the difference between the Cumulative Payments and the Aggregate Limit for such Tax Year, with such difference being carried forward from year-to- year until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualifying Time Period or in the three years following the end of the Tax Limitation Period.
Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the followingamended as follows:
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CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (20242025) and ending December 31 of the third year following the end of the Tax Limitation Period (20382040), Supplemental Payments payments shall be owed. The amount of each Supplemental Payment shall be equal to the limitation amount calculated in accordance with Section 6.2 above, except that for all Tax Years during the Tax Limitation Period, the supplemental payment amount shall be subject to the Aggregate Limit as provided in the following paragraph. If, for any Tax Year during the Tax Limitation Period of this Agreement the Cumulative Payments calculated under Sections IV, V and VI of this Agreement, exceed the Aggregate Limit for such Tax Year, the Applicant’s Supplemental Payment amount for such each Tax Year and shall be reduced by the difference between the Cumulative Payments and the Aggregate Limit for such Tax Year, with such difference being carried forward from year-to- to-year until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualifying Time Period or in and the three years three-year period following the end of the Tax Limitation Period.
Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the following:
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CALCULATION OF ANNUAL SUPPLEMENTAL PAYMENTS TO THE DISTRICT. For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (2024) and ending December 31 of the third year following the end of the Tax Limitation Period (20382037), Supplemental Payments shall be owed. The amount of each Supplemental Payment shall be equal to the limitation amount calculated in accordance with Section 6.2 above, except that for all Tax Years during the Tax Limitation PeriodAgreement, the supplemental payment amount shall be subject to the Aggregate Limit as provided in the following paragraph. If, for any Tax Year during the Tax Limitation Period of this Agreement the Cumulative Payments calculated under Sections IV, V and VI of this Agreement, exceed the Aggregate Limit for such Tax Year, the Applicant’s Supplemental Payment amount for such each Tax Year and shall be reduced by the difference between the Cumulative Payments and the Aggregate Limit for such Tax Year, with such difference being carried forward from year-to- to-year until paid to the District. The Any amounts due but unpaid due to the application of the Aggregate Limit shall not apply nor limit Supplemental Payment amounts due be deemed to be cancelled after December 31 of the District during the Qualifying Time Period or in the three years third year following the end of the Tax Limitation Period.
Section 10.1. Section 10.1 of the Agreement is deleted in its entirety and replaced with the following:
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