Common use of CALCULATION OF PAYMENTS IN LIEU OF TAXATION Clause in Contracts

CALCULATION OF PAYMENTS IN LIEU OF TAXATION. 4.2.1 Subject to Section 5.1, for each of years one (1) through thirteen (13) of this Agreement, the District shall be entitled to receive as payments in lieu of taxation an amount equal to One Hundred Dollars ($100.00) per Student in Average Daily Attendance (ADA), as determined for each year of this Agreement. In the event Chapter 313 is modified or amended to allow the District to receive payments in lieu of taxation in excess of the foregoing ADA limitation, Applicant agrees to cooperate with District in amending this Agreement to allow District, commencing in Year 7 of this Agreement, to receive the maximum amount of payments in lieu of taxation allowable by law; provided however, Applicant’s tax saving under this Agreement shall not be less than eighty percent (80%) for any given year of this Agreement. 4.2.2 Payment of amounts due under this Section shall be made as set forth in Section 3.7 of this Agreement and is subject to the limitations contained in Section 5.1. Payments made under this Article 4 shall not exceed the Aggregate Limit.

CALCULATION OF PAYMENTS IN LIEU OF TAXATION. 4.2.1 Subject to Section 5.1, for each of years one (1) through thirteen (13) of this Agreement, the District shall be entitled to receive as payments in lieu of taxation an amount equal to One Hundred Dollars ($100.00) per Student in Average Daily Attendance (ADA), as determined for each year of this Agreementthat particular school year. In the event Chapter 313 is modified or amended to allow the District to receive payments in lieu of taxation in excess of the foregoing ADA limitation, Applicant agrees to cooperate with District in amending this Agreement to allow District, commencing in Year 7 of this Agreement, District to receive the maximum amount of payments in lieu of taxation allowable as provided by law; provided however, Applicant’s tax saving under this Agreement shall not be less than eighty percent (80%) the total PILOT for any given year of this AgreementAgreement shall not exceed the greater of 20% of Applicant's net tax savings under this Agreement or $100 per student in ADA as determined by that school year. 4.2.2 Payment of amounts due under this Section shall be made as set forth in Section 3.7 of this Agreement and is subject to the limitations contained in Section 5.1. Payments made under this Article 4 shall not exceed the Aggregate Limit.

CALCULATION OF PAYMENTS IN LIEU OF TAXATION. 4.2.1 Subject to Section 5.1, for each of years one (1) through thirteen (13) of this Agreement, the District shall be entitled to receive as payments in lieu of taxation an amount equal to One Hundred Dollars ($100.00) per Student in Average Daily Attendance (ADA), as determined for each year of this Agreementthat particular school year. In the event Chapter 313 is modified or amended to allow the District to receive payments in lieu of taxation in excess of the foregoing ADA limitation, Applicant agrees to cooperate with District in amending this Agreement to allow District, commencing in Year 7 of this Agreement, District to receive the maximum amount of payments in lieu of taxation allowable as provided by law; provided however, Applicant’s tax saving under this Agreement shall not be less than eighty percent (80%) the total PILOT for any given year of this AgreementAgreement shall not exceed the greater of 20% of Applicant's net tax savings under this Agreement or $100 per student in ADA as determined by that school year. 4.2.2 Payment of amounts due under this Section shall be made as set forth in Section 3.7 of this Agreement and is subject to the limitations contained in Section 5.1. Payments made under this Article 4 shall not exceed the Aggregate Limit.Section

CALCULATION OF PAYMENTS IN LIEU OF TAXATION. 4.2.1 Subject to Section 5.1, for each of years one (1) through thirteen (13) of this Agreement, the District shall be entitled to receive as payments in lieu of taxation an amount equal to One Hundred Dollars ($100.00) per Student in Average Daily Attendance (ADA), as determined for each year of this Agreementthat particular school year. In the event Chapter 313 is modified or amended, other than as amended in the Act of May 26, 2013, 83rd Leg., R.S., HB 3390, §9 (to allow be codified at Tex. Tax Code, §313.027), so that it would authorize the District to receive payments in lieu of taxation in excess of the foregoing ADA limitation, Applicant agrees to cooperate with District in amending this Agreement to allow District, commencing in Year 7 of this Agreement, District to receive the maximum amount of payments in lieu of taxation allowable as provided by law; provided however, Applicant’s tax saving under this Agreement shall not be less than eighty percent (80%) the total PILOT for any given year of this AgreementAgreement shall not exceed the greater of 20% of Applicant's net tax savings under this Agreement or $100 per student in ADA as determined by that school year. . 4.2.2 Payment of amounts due under this Section shall be made as set forth in Section 3.7 of this Agreement and is subject to the limitations contained in Section 5.1. Payments made under this Article 4 shall not exceed the Aggregate Limit.