City Payments. Commencing on the Casino Opening Date, Tenant shall make payments to the City (the "City Payments") in the amount of One Million Two Hundred Fifty Thousand Dollars ($1,250,000) for each Fiscal Year during the Term in which Gross Gaming Revenue is in the amount of Three Hundred Fifty Million Dollars ($350,000,000) or more. The City Payments are payable in monthly installments in the amount of One Hundred Four Thousand One Hundred Sixty-Seven Dollars ($104,167) each. The first such installment was payable on the Casino Opening Date and subsequent installments shall be due on the same day of each succeeding calendar month during the Term. Not later than ninety (90) days after the end of each Fiscal Year, Tenant shall submit to the City a report showing:
City Payments i. For each respective City of Detroit fiscal year budget of this MOU, City Council will approve an annual budget allocation to the Detroit Land Bank to fund in-part its obligations under this MOU and to support other Detroit Land Bank operations.
City Payments. 5.1 The City will pay JFLT the entire Purchase Price for the North ROW and the Remnant Parcel within five (5) days after the date that the City issues the 1st home building permit for the Residential Development Parcel.
City Payments i. Subject to Section 5.02 of this Agreement, the City shall make annual payments to Company of an amount measured by the amount of new Sales Tax Revenues received by the City as a direct result of the Company’s automobile and parts sales for the period, commencing on the Effective Date and continuing for a period of four (4) years or until a total of two hundred forty thousand dollars ($240,000) is paid to Company from the City’s portion of Sales Tax Revenues received as a consequence of the Dealership being operated as a Point of Sale within the jurisdictional boundaries of the City, whichever occurs later (“Term”). The payments shall be due annually, thirty (30) calendar days after the sales data for the preceding calendar year’s four (4) quarters of sales activity is released. The amounts of the payments shall be as follows:
City Payments. (a) The Developer Incentive Payment in the amount of Five Million Dollars ($5,000,000) shall become payable by the City to or for the benefit of the Owner contingent upon the following and then on the schedule attached hereto as Exhibit H. The Developer Incentive Payment shall be due from the City according to the terms and conditions of this Agreement and if and only if satisfactory proof of the following are provided to the City from the Developer or Owner:
City Payments. The City will calculate the Income from the Trust Fund, and make annual cash grant payments of such Income to the Conservancy, as described in this section.
City Payments. The term "City Payments" shall mean and refer to the annual payments to be determined and made pursuant to Section 3.4.
City Payments. For purposes hereof, the “City Payments Amount” means the sum of
City Payments. The CITY will reimburse the CONTRACTOR on the twentieth 911 (20th) day of month beginning with the first (1st) CITY reimbursement by May 20, 2009. CITY 912 shall reimburse CONTACTOR up to the total amount the CITY receives in Used Oil Block Grant 913 monies from the CIWMB. CONTRACTOR shall be responsible for ABOP roundup costs that 914 exceed CITY reimbursement. City files the grant application and reports back to the CIWMB.
City Payments. In consideration for J Star’s agreement to be bound by the Covenants and subject to completion of the Improvements and Opening for Business on or before September 30, 2015, City agrees to pay to J Star an amount equal to forty percent (40%) of all Sales Tax Increment in each year generated during the Sales Tax Revenue Accrual Period, which payments shall be made until the earlier of (a) receipt by J Star of an amount equal to the Improvement Costs need to exceed Three Million Dollars ($3,000,000)]; or (b) expiration of or earlier termination of the Sales Tax Accrual Period (such payments are collectively referred to herein as the “City Payments”). J Star and the City acknowledge and agree that the definition of Sales Tax Increment as used herein is used strictly as a measure of the amount of payment due hereunder and as a means of computing the City Payments. The City Payments shall be made annually on or after April lst (“City Payment Date”) during the Sales Tax Accrual Period, consistent with the procedure described in the definition of “Sales Tax Increment” above. The City, prior to making each such City Payment, shall determine the total Sales Tax Increment actually paid to the City during the prior calendar year. Based on the data provided by the SBOE to City, and based upon such determination and the formula described above, the City shall determine the amount of the applicable City Payment.
