Infrastructure Credits Sample Clauses

Infrastructure Credits. (a) Subject to the provisions of paragraph (b) of this Section 3.03, commencing with the payment of the fee in lieu of tax payments for the Project in the Park finally due from the Company to Greenville County on January 15, 2014, and continuing for a period of four (4) years thereafter (for a total of five (5) payment periods), the County hereby promises to and does hereby provide to the Company a credit equal to 20% of the Greenville Fee Payments. The Infrastructure Credit shall be taken as an offset against the Greenville Fee Payments in each of the years due. The Company is therefore entitled to make a payment to the County, and the County will accept such payment for a period of five (5) years, equal to 20% of the Greenville Fee Payment which would be due in the absence of this Agreement. (b) If the Company fails to meet the Job Requirement and/or the Investment Requirement, the Company shall be required to repay a portion of Infrastructure Credit actually given to the Company as follows: The Company will be required to repay a pro-rata amount of the Infrastructure Credit actually given to the Company under this Agreement based on the actual number of jobs created and/or investment level achieved as of the December 31, 2016. Pro rata repayment for failure to meet the Job Requirement or the Investment Requirement will be calculated independently with each calculation based on 50% of the Infrastructure Credit given to the Company under this Agreement. Any repayments due from the Company as a result of the failure to satisfy the Job Requirement and/or the Investment Requirement are due and payable within 30 days after written demand by the County to the Company. (c) THIS AGREEMENT AND THE INFRASTRUCTURE CREDITS BECOMING DUE HEREON ARE LIMITED OBLIGATIONS OF THE COUNTY PROVIDED BY THE COUNTY SOLELY FROM THE GREENVILLE FEE PAYMENTS DERIVED BY THE COUNTY PURSUANT TO THE PARK AGREEMENT, AND DO NOT AND SHALL NEVER CONSTITUTE AN INDEBTEDNESS OF THE COUNTY WITHIN THE MEANING OF ANY CONSTITUTIONAL PROVISION (OTHER THAN THE PROVISIONS OF ARTICLE X, SECTION 14(10) OF THE SOUTH CAROLINA CONSTITUTION) OR STATUTORY LIMITATION AND DO NOT AND SHALL NEVER CONSTITUTE OR GIVE RISE TO A PECUNIARY LIABILITY OF THE COUNTY OR A CHARGE AGAINST ITS GENERAL CREDIT OR TAXING POWER. THE FULL FAITH, CREDIT, AND TAXING POWER OF THE COUNTY ARE NOT PLEDGED FOR THE INFRASTRUCTURE CREDITS. Notwithstanding any other provision of this Agreement, the Company shall never, annually or cumula...
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Infrastructure Credits. (a) In order to reimburse the Companies for a portion of the Cost of the Infrastructure with respect to the Project, commencing with the annual Fee Payment to be first payable on or before the January 15 immediately following the year immediately following the first year in which any portion of the Project is first placed in service, the County shall provide to the Operating Company and the Landlord Infrastructure Credits for a period of five (5) consecutive years in an amount equal to ten percent (10%) of that portion of Fee Payments payable by the Operating Company and the Landlord with respect to the Project (that is, with respect to investment made by the Companies under the FILOT Agreement during the Investment Period), calculated and applied after payment of the amount due the non-host county under the Park Agreement. (b) Notwithstanding anything herein to the contrary, under no circumstances shall the Operating Company or the Landlord be entitled to claim or receive any abatement of ad valorem taxes for any portion of the investment in the Project for which an Infrastructure Credit is taken. (c) In no event shall the aggregate amount of all Infrastructure Credits claimed by the Operating Company and the Landlord exceed the amount expended by them collectively with respect to the Infrastructure at any point in time. The Operating Company shall be responsible for making written annual certification as to compliance with the provisions of the preceding sentence through the delivery of a certification in substantially the form attached hereto as Exhibit B. Further, any amount of reimbursement of the Operating Company or the Landlord for Infrastructure expenditure by way of an Infrastructure Credit may not be duplicated through an infrastructure credit to the other Company for the same expenditure. (d) Should the Investment Target not be met by the end of the Investment Period, any infrastructure credits otherwise payable under this Agreement shall no longer be payable by the County, and the Companies shall be retroactively liable to the County for the amount of the infrastructure credits previously received by the Companies, plus interest at the rate payable for late payment of taxes. (e) As provided in Section 4-29-68 of the Code, to the extent any Infrastructure Credit is taken against fee in lieu of tax payment on personal property, and the personal property is removed from the Project at any time during the term of the Fee Agreement (and not replace...
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Infrastructure Credits. Subject to the provisions herein, the County grants a special source revenue credit (“Special Source Revenue Credit” or “SSRC”) to the Company in an amount equal to thirty percent (30%) of each Fee Payment due for the Project for a period of ten (10) years (“Credit Period”). Any SSRC set forth in this Amended Agreement shall only apply to the Fee Payments due with respect to the Project. For purposes of this Amended Agreement, the Project commences as of January 1, 2012. The Credit Period shall commence in the first year for which the Company elects to claim the SSRC in accordance with Section 3 of this Agreement. The Company and the County agree that the first year of the Credit Period was property tax year 2013 (i.e., the Fee Payment due on or before January 15, 2014). Upon the Company’s achievement of $30,000,000 of investment, without regard to depreciation (“SSRC Threshold”), the County grants (a) an extension of the Credit Period to fifteen (15) years and (b) a supplemental SSRC to the Company in an amount equal to five percent (5%) of each Fee Payment due for the Project for the period beginning with the Fee Payment due for the tax year in which the SSRC Threshold is first achieved and ending with the final Fee Payment due for the Credit Period (“Supplemental Credit Period”). Any SSRC provided under this Amended Agreement shall be used to reimburse the Company for eligible expenditures, as permitted by the Infrastructure Credit Act, which includes the cost of designing, acquiring, constructing, improving, or expanding the infrastructure serving the Company’s property, for improved or unimproved real estate or for machinery and equipment provided that any SSRC benefits shall be first deemed to be applied to the eligible expenditures other than the machinery and equipment. In no event shall the aggregate amount of SSRCs received as of any point in time exceed the amount of the Company’s aggregate investment in such eligible expenditures as of such time.
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Infrastructure Credits. To assist the Company in paying for costs of Infrastructure, the FILOT Payments due for property tax years 2019-2028 shall be reduced by twenty-five percent (25%). In no event may the Company’s aggregate Infrastructure Credit claimed pursuant to this Section exceed the aggregate expenditures by the Company on Infrastructure.
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Infrastructure Credits. (a) To assist in paying for costs of Infrastructure, the County shall provide an Infrastructure Credit against certain of the Company’s Fee Payments due with respect to the Project. The term, amount and calculation of the Infrastructure Credit is described in Exhibit B. (b) For each property tax year in which the Company is entitled to an Infrastructure Credit (“Credit Term”), the County shall prepare and issue the Company’s annual property tax xxxx with respect to the Project net of the Infrastructure Credit set forth in Section 2.2(a) (“Net Fee Payment”). Following receipt of the annual xxxx from the County (the “Annual Xxxx”), the Company shall timely remit the Net Fee Payment to the County in accordance with applicable law. (c) THIS AGREEMENT AND THE INFRASTRUCTURE CREDITS PROVIDED BY THIS AGREEMENT ARE LIMITED OBLIGATIONS OF THE COUNTY. THE INFRASTRUCTURE CREDITS ARE DERIVED SOLELY FROM AND TO THE EXTENT OF THE FEE PAYMENTS MADE BY THE COMPANY TO THE COUNTY PURSUANT TO THE ACT AND THE PARK AGREEMENT. THE INFRASTRUCTURE CREDITS DO NOT AND SHALL NOT CONSTITUTE A GENERAL OBLIGATION OF THE COUNTY OR ANY MUNICIPALITY WITHIN THE MEANING OF ANY CONSTITUTIONAL OR STATUTORY LIMITATION AND DO NOT AND SHALL NOT CONSTITUTE OR GIVE RISE TO A PECUNIARY LIABILITY OF THE COUNTY OR ANY MUNICIPALITY OR A CHARGE AGAINST THE GENERAL CREDIT OR TAXING POWER OF THE COUNTY OR ANY MUNICIPALITY. THE FULL FAITH, CREDIT, AND TAXING POWER OF THE COUNTY OR ANY MUNICIPALITY ARE NOT PLEDGED FOR THE PROVISION OF THE INFRASTRUCTURE CREDITS.
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Infrastructure Credits. To assist in paying for costs of Infrastructure, the Company and any qualifying Sponsor is entitled to claim an Infrastructure Credit to reduce certain FILOT Payments due and owing from the Sponsor to the County under this Fee Agreement. All qualifying expenses of the Sponsor during the Investment Period shall qualify for a 30-year, 40% Infrastructure Credit. Beginning with the first annual FILOT Payment and continuing for the next twenty-nine annual FILOT Payments, the Sponsor will receive an annual credit in an amount equal to 40% of the annual FILOT Payment with respect to the Project; provided however, the Company or any Sponsor or Sponsor Affiliate may elect to begin application of the Infrastructure Credit in a year other than the year in which the first annual FILOT Payment is made. Such election may be made for each Subdivided Parcel (as defined in Section 9.2), unless already elected by the Company. In such event, the Company, Sponsor or Sponsor Affiliate, as the case may be, shall provide notice to the Economic Development Director of the County. Upon selection by the Company of the year in which the Infrastructure Credit shall first apply, the Infrastructure Credit will continue to be applied to the next twenty-nine annual FILOT Payments. In no event may the Sponsor’s aggregate Infrastructure Credit claimed pursuant to this Section exceed the aggregate expenditures by the Sponsor on Infrastructure. For each property tax year in which the Infrastructure Credit is applicable (“Credit Term”), the County shall prepare and issue the annual bills with respect to the Project showing the Net FILOT Payment. Following receipt of the xxxx, the Sponsor shall timely remit the Net FILOT Payment to the County in accordance with applicable law.
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Related to Infrastructure Credits

  • Infrastructure Infrastructure serves as the foundation and building blocks of an integrated IT solution. It is the hardware which supports Application Services (C.3.2) and IT Management Services (C.3.3); the software and services which enable that hardware to function; and the hardware, software, and services which allow for secure communication and interoperability between all business and application service components. Infrastructure services facilitate the development and maintenance of critical IT infrastructures required to support Federal government business operations. This section includes the technical framework components that make up integrated IT solutions. One or any combination of these components may be used to deliver IT solutions intended to perform a wide array of functions which allow agencies to deliver services to their customers (or users), whether internal or external, in an efficient and effective manner. Infrastructure includes hardware, software, licensing, technical support, and warranty services from third party sources, as well as technological refreshment and enhancements for that hardware and software. This section is aligned with the FEA/DoDEA Technical Reference Model (TRM) which describes these components using a vocabulary that is common throughout the entire Federal government. A detailed review of the TRM is provided in Section J, Attachment 5. Infrastructure includes complete life cycle support for all hardware, software, and services represented above, including planning, analysis, research and development, design, development, integration and testing, implementation, operations and maintenance, information assurance, and final disposition of these components. The services also include administration and help desk functions necessary to support the IT infrastructure (e.g., desktop support, network administration). Infrastructure components of an integrated IT solution can be categorized as follows:

  • Interconnection Customer Provided Services The services provided by Interconnection Customer under this LGIA are set forth in Article 9.6 and Article 13.5. 1. Interconnection Customer shall be paid for such services in accordance with Article 11.6.

  • 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.

  • Interconnection Customer Compensation If the CAISO requests or directs the Interconnection Customer to provide a service pursuant to Articles 9.6.3 (Payment for Reactive Power) or 13.5.1 of this LGIA, the CAISO shall compensate the Interconnection Customer in accordance with the CAISO Tariff.

  • 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.

  • Utility Services Company agrees to pay the full cost and expense associated with its use of all utilities, including but not limited to water, sanitary sewer, electric, storm drainage, and telecommunication services.

  • NETWORK INTERCONNECTION METHODS 3.1 The Interconnection provided herein may not be used solely for the purpose of originating a Party’s own interexchange traffic.

  • Drainage Systems (1) Clear culvert inlets, outlets, and sediment catching basins. (2) Maintain waterbars, drainage dips, and other water diversion measures. (3) During active use, patrol and maintain functional drainage. (4) Repair damaged culvert ends.

  • Information Systems Acquisition Development and Maintenance a. Client Data – Client Data will only be used by State Street for the purposes specified in this Agreement.

  • Electric Storage Resources Developer interconnecting an electric storage resource shall establish an operating range in Appendix C of its LGIA that specifies a minimum state of charge and a maximum state of charge between which the electric storage resource will be required to provide primary frequency response consistent with the conditions set forth in Articles 9.5.5, 9.5.5.1, 9.5.5.2, and 9.5.5.3 of this Agreement. Appendix C shall specify whether the operating range is static or dynamic, and shall consider (1) the expected magnitude of frequency deviations in the interconnection; (2) the expected duration that system frequency will remain outside of the deadband parameter in the interconnection; (3) the expected incidence of frequency deviations outside of the deadband parameter in the interconnection; (4) the physical capabilities of the electric storage resource; (5) operational limitations of the electric storage resources due to manufacturer specification; and (6) any other relevant factors agreed to by the NYISO, Connecting Transmission Owner, and Developer. If the operating range is dynamic, then Appendix C must establish how frequently the operating range will be reevaluated and the factors that may be considered during its reevaluation. Developer’s electric storage resource is required to provide timely and sustained primary frequency response consistent with Article 9.5.5.2 of this Agreement when it is online and dispatched to inject electricity to the New York State Transmission System and/or receive electricity from the New York State Transmission System. This excludes circumstances when the electric storage resource is not dispatched to inject electricity to the New York State Transmission System and/or dispatched to receive electricity from the New York State Transmission System. If Developer’s electric storage resource is charging at the time of a frequency deviation outside of its deadband parameter, it is to increase (for over-frequency deviations) or decrease (for under-frequency deviations) the rate at which it is charging in accordance with its droop parameter. Developer’s electric storage resource is not required to change from charging to discharging, or vice versa, unless the response necessitated by the droop and deadband settings requires it to do so and it is technically capable of making such a transition.

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