Common use of Fee in Lieu of Taxes Clause in Contracts

Fee in Lieu of Taxes. Property located in the Park shall be exempt from ad valorem taxation, only during the term of this Agreement. The owners or lessees of any property situated in the Park shall pay in accordance with and during the term of this Agreement an amount equivalent to the ad valorem property taxes or other in-lieu-of-payments that would have been due and payable but for the location of such property within the Park. Where, in this Agreement, reference is made to payment of ad valorem property taxes or other in-lieu-of- payments, such reference shall be construed, in accordance with this Paragraph 5, to mean the ad valorem property taxes or other in-lieu-of-payments that would otherwise have been due to be paid to Xxxxxxxx County, after deduction of all applicable allowances, credits, deductions, and exemptions authorized or required by state law, subject to any contractual limitations that may be applicable with respect to a particular Property in the Park.

Fee in Lieu of Taxes. Property located in the Park shall be exempt from ad valorem taxation, only during the term of this Agreement. The owners or lessees of any property situated in the Park shall pay in accordance with and during the term of this Agreement an amount equivalent to the ad valorem property taxes or other in-lieu-of-payments that would have been due and payable but for the location of such property within the Park. Where, in this Agreement, reference is made to payment of ad valorem property taxes or other in-lieu-of- of-payments, such reference shall be construed, in accordance with this Paragraph 54, to mean the ad valorem property taxes or other in-lieu-of-payments that would otherwise have been due to be paid to Xxxxxxxx County, after deduction of all applicable allowances, credits, deductions, and exemptions authorized or required by state law, subject to any contractual limitations that may be applicable with respect to a particular Property in the Park.

Fee in Lieu of Taxes. Property located in the Park shall be exempt from ad valorem taxation, only during the term of this Agreement. The owners or lessees of any property situated in the Park shall pay in accordance with and during the term of this Agreement an amount equivalent to the ad valorem property taxes or other in-lieu-of-payments that would have been due and payable but for the location of such property within the Park. Where, in this Agreement, reference is made to payment of ad valorem property taxes or other in-lieu-of- payments, such reference shall be construed, in accordance with this Paragraph 5, to mean the ad valorem property taxes or other in-lieu-of-payments that would otherwise have been due to be paid to Xxxxxxxx Anderson County, after deduction of all applicable allowances, credits, deductions, and exemptions authorized or required by state law, subject to any contractual limitations that may be applicable with respect to a particular Property in the Park.

Fee in Lieu of Taxes. Property located in the Park shall be exempt from ad valorem taxation, only during the term of this Agreement. The owners or lessees of any property situated in the Park shall pay in accordance with and during the term of this Agreement an amount equivalent to the ad valorem property taxes or other in-lieu-of-payments that would have been due and payable but for the location of such property within the Park. Where, in this Agreement, reference is made to payment of ad valorem property taxes or other in-lieu-of- payments, such reference shall be construed, in accordance with this Paragraph 54, to mean the ad valorem property taxes or other in-lieu-of-payments that would otherwise have been due to be paid to Xxxxxxxx Anderson County, after deduction of all applicable allowances, credits, deductions, and exemptions authorized or required by state law, subject to any contractual limitations that may be applicable with respect to a particular Property in the Park.