Infrastructure Credit Sample Clauses

Infrastructure Credit. (a) In order to finance the costs of designing, acquiring, constructing, expanding and improving the Infrastructure in connection with the proposed Project, based upon the Company’s commitment to a taxable capital investment in the Project, without regard to depreciation of at least Eleven Million Dollars ($11,000,000) within the Investment Period, the County will grant to the Company the Infrastructure Credit pursuant to the Infrastructure Act which will be limited such that the total amount of the Infrastructure Credit over the Qualifying Period will be ten (10%) percent of the Net Fee Payments during the Qualifying Period. The County has included the Company’s Real Property upon which the Project is to be located in the Park pursuant to the Park Agreement in order to enable the County to grant the Infrastructure Credit to the Company as described herein. The Infrastructure Credit will be payable exclusively from payments in lieu of taxes the County receives and retains from the Company during the Qualifying Period. The Infrastructure Credit shall not constitute a general obligation of indebtedness of the County nor a pledge of the full faith and credit or the taxing power of the County. The Infrastructure Credit shall be paid solely by setoff by the Company against the fee in lieu of tax payments due each year during the Qualifying Period. The Qualifying Period shall not commence until January 15, 2018 unless or until the Company shall notify the County in writing earlier of the date of commencement of the Qualifying Period. Notwithstanding anything herein to the contrary, the aggregate amount of Infrastructure Credits to be taken shall not exceed the aggregate amount of Company investment in Qualifying Infrastructure Improvements.
Sample 1Sample 2
AutoNDA by SimpleDocs
Infrastructure Credit. (a) For a total of 20 years, beginning with respect to the property tax year following the property tax year in which the Project or the first Stage thereof is placed in service, the Company or the Sponsor Affiliates, as applicable automatically shall be entitled to receive and take an Annual Special Source Revenue Credit in the form of a credit equal to 50% of the Payments-in- Lieu-of-Taxes.
Sample 1
Infrastructure Credit. The County agrees that the Company shall be entitled to Infrastructure Credits as a reimbursement of the Company’s investment in Qualifying Infrastructure Improvements, to be taken as a set off against the FILOT Payments owed in each of the first twelve (12) years, beginning with the FILOT Payment due and payable on January 15, 2014, and ending with such payment due and payable on January 15, 2025 in an annual amount equal to forty percent (40%) of the Net Filot Payments generated by the Project, and are based on the Company’s achieving the Minimum Investment within the Investment Period. In the event the Company fails to make the Minimum Investment by the end of the Investment Period, the Infrastructure Credit shall cease and the Company shall repay to the County, by June 30, 2018, all Infrastructure Credits previously received by the Company. Such Infrastructure Credits may be taken by the Company only to the extent that the Company has invested in Qualifying Infrastructure Improvements. The Company shall be responsible for certifying to the County the amount of Qualified Improvements incurred. Based on this certification, the Treasurer of the County shall display and subtract the Infrastructure Credits from the fee in lieu of tax payment statement sent to the Company for the duration of the Infrastructure Credits. At no time shall the aggregate of Infrastructure Credits received by the Company exceed the certified amount of Qualified Infrastructure Improvements.
Sample 1

Related to Infrastructure Credit

  • Infrastructure (a) The Borrower has and will maintain a sufficient infrastructure to conduct its business as presently conducted and as contemplated to be conducted following its execution of this Agreement.

  • Infrastructure Vulnerability Scanning Supplier will scan its internal environments (e.g., servers, network devices, etc.) related to Deliverables monthly and external environments related to Deliverables weekly. Supplier will have a defined process to address any findings but will ensure that any high-risk vulnerabilities are addressed within 30 days.

  • Network Resource Interconnection Service (check if selected)

  • Utility Infrastructure During the term of this Agreement, Company will have the right to receive water, sanitary sewer, electric, storm drainage, telecommunication and data services at the Premises.

  • Interconnection Facilities Engineering Procurement and Construction Interconnection Facilities, Network Upgrades, and Distribution Upgrades shall be studied, designed, and constructed pursuant to Good Utility Practice. Such studies, design and construction shall be based on the assumed accuracy and completeness of all technical information received by the Participating TO and the CAISO from the Interconnection Customer associated with interconnecting the Large Generating Facility.

  • Energy Resource Interconnection Service (ER Interconnection Service).

  • Critical Infrastructure Subcontracts For purposes of this Paragraph, the designated countries are China, Iran, North Korea, Russia, and any countries lawfully designated by the Governor as a threat to critical infrastructure. Pursuant to Section 113.002 of the Business and Commerce Code, Contractor shall not enter into a subcontract that will provide direct or remote access to or control of critical infrastructure, as defined by Section 113.001 of the Texas Business and Commerce Code, in this state, other than access specifically allowed for product warranty and support purposes to any subcontractor unless (i) neither the subcontractor nor its parent company, nor any affiliate of the subcontractor or its parent company, is majority owned or controlled by citizens or governmental entities of a designated country; and (ii) neither the subcontractor nor its parent company, nor any affiliate of the subcontractor or its parent company, is headquartered in a designated country. Contractor will notify the System Agency before entering into any subcontract that will provide direct or remote access to or control of critical infrastructure, as defined by Section 113.001 of the Texas Business & Commerce Code, in this state.

  • BUILDING SERVICES CONTRACTS In compliance with Article 9, Section 230 of the New York State Labor Law:

  • Infrastructure Improvements The design, redevelopment and construction and completion of certain infrastructure improvements, including sewer, stormwater, electrical and water main improvements, along with other similar improvements.

  • Information regarding Interconnection Facilities 4.2.1 The SPD shall be required to obtain all information from the STU/CTU/concerned authority with regard to the Interconnection Facilities as is reasonably necessary to enable it to design, install and operate all interconnection plant and apparatus on the SPD’s side of the Delivery Point to enable delivery of electricity at the Delivery Point. The transmission of power up to the point of interconnection where the metering is done for energy accounting shall be the responsibility of the SPD at his own cost.

Time is Money Join Law Insider Premium to draft better contracts faster.