DEPOSIT OF TAX INCREMENT Sample Clauses

DEPOSIT OF TAX INCREMENT. Pursuant to a Resolution duly adopted by the governing body of Tarrant County, which Resolution is attached hereto as Exhibit “C” and is hereby made a part of this Agreement for all purposes, and specifically subject to Section 4 of this Agreement, the Hospital District hereby agrees to deposit each year during the first fifteen years of the Zone, beginning with the 2016 tax year, fifty percent (50%) of the Hospital District's Tax Increment into the Tax Increment Fund and each year for the next ten years, beginning with the 2031 tax year, thirty five percent (35%) of the Hospital District’s Tax Increment into the Tax Increment Fund. The calculation to determine the dollar amount of the Hospital District’s Tax Increment to be deposited shall be made in accordance with the Hospital District’s Tax Increment Financing Policy and such deposits shall be made in accordance with the City’s standard administrative procedures, but only following receipt of a xxxx from the City that outlines the City’s calculation of the amount of the deposit that is required for that year. The Hospital District’s participation over the life of the Zone is capped at $3,033,308 (the “Maximum Hospital District Contribution”). Deposits will continue at the percentage rates set forth herein until the Maximum Hospital District Contribution is reached, at which point the Hospital District’s obligation to the Tax Increment Fund is complete. The Hospital District is not obligated to pay the Hospital District Tax Increment from any source other than taxes collected on the Captured Appraised Value. Furthermore, the Hospital District has no duty or obligation to pay the Hospital District Tax Increment from any other Hospital District taxes or revenues, or until the Hospital District Tax Increment in the Zone is actually collected. Any portion of the taxes representing the Hospital District Tax Increment that are paid to the Hospital District and subsequently refunded pursuant to the provision of the Texas Tax Code shall be offset against future payments to the Tax Increment Fund.
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DEPOSIT OF TAX INCREMENT. Pursuant to a Resolution duly adopted by the governing body of the County, which Resolution is attached hereto as Exhibit “C” and is hereby made a part of this Agreement for all purposes, and specifically subject to Section 4 of this Agreement, the County hereby agrees to deposit each year during the first fifteen years of the Zone, beginning with the 2016 tax year, seventy-five percent (75%) of the County's Tax Increment into the Tax Increment Fund and each year for the next ten years, beginning with the 2031 tax year, fifty percent (50%) of the County’s Tax Increment into the Tax Increment Fund. The calculation to determine the dollar amount of the County’s Tax Increment to be deposited shall be made in accordance with the County’s Tax Increment Financing Policy and such deposits shall be made in accordance with the City’s standard administrative procedures, but only following receipt of a xxxx from the City that outlines the City’s calculation of the amount of the deposit that is required for that year. The County’s participation over the life of the Zone is capped at $5,163,357 (the “Maximum County Contribution”). Deposits will continue at the percentage rates set forth herein until the Maximum County Contribution is reached, at which point the County’s obligation to the Tax Increment Fund is complete. The County is not obligated to pay the County Tax Increment from any source other than taxes collected on the Captured Appraised Value. Furthermore, the County has no duty or obligation to pay the County Tax Increment from any other County taxes or revenues, or until the County Tax Increment in the Zone is actually collected. Any portion of the taxes representing the County Tax Increment that are paid to the County and subsequently refunded pursuant to the provision of the Texas Tax Code shall be offset against future payments to the Tax Increment Fund.
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DEPOSIT OF TAX INCREMENT. Pursuant to a Resolution duly adopted by the governing body of the District, which Resolution is attached hereto as Exhibit “C’’ and is hereby made a part of this Agreement for all purposes, and specifically subject to Section 4 of this Agreement, the District hereby agrees to deposit each year during the remaining term of the Zone, beginning with the 2019 tax year and through the 2038 tax year, fifty percent (50%) of the District’s Tax Increment into the Tax Increment Fund. The calculation to determine the dollar amount of the District’s Tax Increment to be deposited shall be made in accordance with the City’s standard administrative procedures, but only following receipt of a bill from the City that outlines the City’s calculation of the amount of the deposit that is required for that year. The District’s participation over the twenty (20) year extended term of the Zone (tax years 2019-2038) is capped at $3,589,198.00 (the “Maximum District Contribution”). Deposits will continue at the 50% rate through the extended term of the Zone or until the Maximum District Contribution is reached, at which point the District’s obligation to the Tax Increment Fund is complete.
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Related to DEPOSIT OF TAX INCREMENT

  • Payment of Taxes The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

  • Treatment of Taxes Except as otherwise provided in the Loan Agreement, the proceeds of the Loan may be withdrawn to pay for taxes levied by, or in the territory of, the Borrower or the Guarantor on the goods or services to be financed under the Loan, or on their importation, manufacture, procurement or supply. Financing of such taxes is subject to the Bank’s policy of requiring economy and efficiency in the use of the proceeds of its loans. To that end, if the Bank shall at any time determine that the amount of any taxes levied on or in respect of any item to be financed out of the proceeds of the Loan is excessive or otherwise unreasonable, the Bank may, by notice to the Borrower, adjust the percentage for withdrawal set forth or referred to in respect of such item in the Loan Agreement as required to be consistent with such policy of the Bank.”

  • Date Increment Due Increments shall accrue and become due and payable on the next day following completion of required service as an employee in the class, unless otherwise provided herein.

  • Allocation of Subordinate Reduction Amount to the Reference Tranches On each Payment Date prior to the Termination Date, after allocation of the Senior Reduction Amount and the Tranche Write-down Amount or Tranche Write-up Amount, if any, for such Payment Date as described above, the Subordinate Reduction Amount will be allocated to reduce the Class Notional Amount of each Class of Reference Tranche in the following order of priority, in each case until its Class Notional Amount is reduced to zero:

  • Deposits for Charges Subject to Escalation Deposits requested to cover estimated charges for timber subject to escalation under B3.2 shall be based upon Current Contract Rates and related de- posits in effect during previous calendar quarter. B4.215 Deposits When Payment Xxxxxx- xxxx. To the extent payment guarantee is provided under B4.3, requirements for advance cash deposits under B4.212 shall be waived for the value of timber on Sale Area that is cut, but not removed, and for the value of products removed from Sale Area for not more than a monthly billing period, subject to the provisions of B4.4. B4.216 Blanket Cash Deposits. Purchaser may make cash deposits under a written agreement to cover charges made under this and other timber sale con- tracts within the same National Forest. Forest Service shall allocate such deposits to such timber sales. When there is to be no timber cutting hereunder for 30 days or more and payment of current charges has been made, the allocation to this timber sale shall be reallocated to other timber sales within the same National Forest at Purchaser’s request. Purchaser shall not start cutting until allocation has again been made to this timber sale.

  • Payments in Lieu of Taxes (a) In accordance with the provisions of Section 12-44-50 of the Act, during the Term of this Agreement the Company shall make with respect to the Project annual FILOT Payments in the amounts set forth in this Section at the times and places, and in the same manner and subject to the same penalty assessments as prescribed by the County or the Department for ad valorem taxes. Such annual payments shall be made on or before each January 15 of each year during the Term of this Agreement, commencing on the first year after the first Project Increment is placed in service. Subject to the provisions of the Act, each annual payment in lieu of taxes shall be equal to the Project Increment Payment with respect to each Project Increment, including, subject to the provisions of the Act, Replacement Property for the Project originally included in such Project Increment, calculated as set forth in Section 5.02(b) hereof, for each of twenty consecutive years (except to the extent that any portion of such Project Increment ceases to qualify for a negotiated fee in lieu of taxes under the Act) commencing with the year following the year in which the respective Project Increments are placed in service.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

  • Deposit Pay ment of The Fixed Reserve Price 5.1. E-Bidders must make deposit payment as required under the Conditions of Sale attached to Proclamation of Sale, i.e. 10% of the reserve price.

  • Payment of Premiums; Substitution of Policy; Loss Reserve; Protection of Lender If Lender required Mortgage Insurance as a condition of making the Loan, Borrower will pay the premiums required to maintain the Mortgage Insurance in effect. If Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, and (i) the Mortgage Insurance coverage required by Lender ceases for any reason to be available from the mortgage insurer that previously provided such insurance, or (ii) Lender determines in its sole discretion that such mortgage insurer is no longer eligible to provide the Mortgage Insurance coverage required by Lender, Borrower will pay the premiums required to obtain coverage substantially equivalent to the Mortgage Insurance previously in effect, at a cost substantially equivalent to the cost to Borrower of the Mortgage Insurance previously in effect, from an alternate mortgage insurer selected by Xxxxxx. If substantially equivalent Mortgage Insurance coverage is not available, Borrower will continue to pay to Lender the amount of the separately designated payments that were due when the insurance coverage ceased to be in effect. Lender will accept, use, and retain these payments as a non-refundable loss reserve in lieu of Mortgage Insurance. Such loss reserve will be non-refundable, even when the Loan is paid in full, and Lender will not be required to pay Borrower any interest or earnings on such loss reserve. Lender will no longer require loss reserve payments if Mortgage Insurance coverage (in the amount and for the period that Lender requires) provided by an insurer selected by Lender again becomes available, is obtained, and Lender requires separately designated payments toward the premiums for Mortgage Insurance. If Lender required Mortgage Insurance as a condition of making the Loan and Borrower was required to make separately designated payments toward the premiums for Mortgage Insurance, Borrower will pay the premiums required to maintain Mortgage Insurance in effect, or to provide a non-refundable loss reserve, until Lender’s requirement for Mortgage Insurance ends in accordance with any written agreement between Borrower and Lender providing for such termination or until termination is required by Applicable Law. Nothing in this Section 11 affects Borrower’s obligation to pay interest at the Note rate.

  • Special Taxing Districts SPECIAL TAXING DISTRICTS MAY BE SUBJECT TO GENERAL OBLIGATION INDEBTEDNESS THAT IS PAID BY REVENUES PRODUCED FROM ANNUAL TAX LEVIES ON THE TAXABLE PROPERTY WITHIN SUCH DISTRICTS. PROPERTY OWNERS IN SUCH DISTRICTS MAY BE PLACED AT RISK FOR INCREASED MILL LEVIES AND TAX TO SUPPORT THE SERVICING OF SUCH DEBT WHERE CIRCUMSTANCES ARISE RESULTING IN THE INABILITY OF SUCH A DISTRICT TO DISCHARGE SUCH INDEBTEDNESS WITHOUT SUCH AN INCREASE IN MILL LEVIES. BUYERS SHOULD INVESTIGATE THE SPECIAL TAXING DISTRICTS IN WHICH THE PROPERTY IS LOCATED BY CONTACTING THE COUNTY TREASURER, BY REVIEWING THE CERTIFICATE OF TAXES DUE FOR THE PROPERTY AND BY OBTAINING FURTHER INFORMATION FROM THE BOARD OF COUNTY COMMISSIONERS, THE COUNTY CLERK AND RECORDER, OR THE COUNTY ASSESSOR. A tax certificate from the respective county treasurer listing any special taxing districts that effect the Property (Tax Certificate) must be delivered to Buyer on or before Record Title Deadline. If the Property is located within a special taxing district and such inclusion is unsatisfactory to Buyer, in Buyer’s sole subjective discretion, Buyer may object, on or before Record Title Objection Deadline. If the Tax Certificate shows that the Property is included in a special taxing district and is received by Buyer after the Record Title Deadline, Buyer has until the earlier of Closing or ten days after receipt by Buyer to review and object to the Property’s inclusion in a special taxing district as unsatisfactory to Buyer.

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