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

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 (2019) and ending December 31 of the third year following the end of the Tax Limitation Period (2033), Supplemental payments shall be owed; provided, however, that the Applicant may elect to defer payment of the Supplemental Payments that are due and owing during 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. 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. If, for any Tax Year during the Limitation Period of this Agreement the Cumulative Payment Amount, calculated under Sections IV, V and VI of this Agreement, 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 until paid to the District. The Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualified Time Period or in the three years following the end of the Tax Limitation Period.

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 (2019Tax Year 2025) and ending December 31 of the third year following the end of the Tax Limitation Period (2033Tax Year 2040), Supplemental payments Payments shall be owed; provided, however, that the Applicant may elect to defer payment . The amount of the each Supplemental Payments that are due and owing during the Qualifying Time Period. Amounts so deferred Payment shall be carried forward from year-to-year into subsequent Tax years during the term of this Agreement until paid. 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 equal to the Aggregate Limitlimitation amount calculated in accordance with Section 6.2 above. If, for any Tax Year during the Qualifying Time Period (Tax Years 2025-2027) or Tax Limitation Period of this Agreement (Tax Years 2028-2037), the Cumulative Payment Amount, Payments calculated under Sections pursuant to Articles IV, V and VI of this Agreement, exceeds exceed the Aggregate Limit for such Tax Year, the difference between the Applicant’s Supplemental Cumulative Payment Amount so calculated and owed for that year shall be reduced to the Aggregate Limit for such that Tax YearYear and any remaining amounts otherwise due and owing by the Applicant to the District which, by virtue of this payment limitation, are not paid in full shall be carried forward from year-to-year to year into subsequent Tax Years until paid in full. For all Tax Years during the Tax Limitation Period, the Cumulative Payment amount shall be subject to the DistrictAggregate Limit. The Supplemental Payments shall not be subject to the Aggregate Limit shall not apply nor limit Supplemental Payment amounts due to the District during the Qualified Time Period or in the three years following the end of the Limitation Period (Tax Limitation PeriodYears 2038, 2039 and 2040).