Common use of Existing Improvements PILOT Clause in Contracts

Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 2042, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 to and including June 30, 2043, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 to and including June 30, 2044, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 to and including June 30, 2045, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each semi-annual period occurring within the period commencing on July 1, 2045 to and including June 30, 2046, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 4 contracts

Samples: Agency Lease Agreement, Uniform Project Agreement, Agency Lease Agreement

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Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 20422043, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 2043 to and including June 30, 20432044, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 2044 to and including June 30, 20442045, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 2045 to and including June 30, 20452046, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each semi-annual period occurring within the period commencing on July 1, 2045 2046 to and including June 30, 20462047, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 3 contracts

Samples: Agency Lease Agreement, Uniform Project Agreement, Agency Lease Agreement

Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 20422032, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 2032 to and including June 30, 20432033, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 2033 to and including June 30, 20442034, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 2034 to and including June 30, 20452035, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each semi-annual period occurring within the period commencing on July 1, 2045 2035 to and including June November 30, 20462036, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 1 contract

Samples: Agency Lease Agreement

Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 20422039, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 2039 to and including June 30, 20432040, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 2040 to and including June 30, 20442041, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 2041 to and including June 30, 20452042, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each semi-annual period occurring within the period commencing on July 1, 2045 2042 to and including June 30, 20462043, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 1 contract

Samples: Agency Lease Agreement

Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements Improvements, if any (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 20422039, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 2039 to and including June 30, 20432040, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 2040 to and including June 30, 20442041, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 2041 to and including June 30, 20452042, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each the final semi-annual period occurring within the period commencing on July 1, 2045 to and including June 30, 20462042, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 1 contract

Samples: Agency Lease Agreement

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Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 20422040, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 2040 to and including June 30, 20432041, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 2041 to and including June 30, 20442042, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 2042 to and including June 30, 20452043, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each semi-annual period occurring within the period commencing on July 1, 2045 2043 to and including June 30, 20462044, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 1 contract

Samples: Agency Lease Agreement

Existing Improvements PILOT. During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below. (i) For each semi-annual period occurring within the period commencing on the PILOT Commencement Date to and including June 30, 20422044, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus the (2) Existing Improvements Abatement Amount. (ii) For each semi-annual period occurring within the period commencing on July 1, 2042 2044 to and including June 30, 20432045, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.80 and (z) the Existing Improvements Abatement Amount. (iii) For each semi-annual period occurring within the period commencing on July 1, 2043 2045 to and including June 30, 20442046, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.60 and (z) the Existing Improvements Abatement Amount. (iv) For each semi-annual period occurring within the period commencing on July 1, 2044 2046 to and including June 30, 20452047, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.40 and (z) the Existing Improvements Abatement Amount. (v) For each semi-annual period occurring within the period commencing on July 1, 2045 2047 to and including June 30, 20462048, Existing Improvements PILOT shall equal (1) the Adjusted PILOT Amount with respect to Existing Improvements minus (2) the product of (y) 0.20 and (z) the Existing Improvements Abatement Amount.

Appears in 1 contract

Samples: Agency Lease Agreement

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