OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement of the Tax Limitation Period, to terminate this Agreement by notifying the District in writing of its exercise of such option. In such event, any payment due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due to the District within thirty (30) days after it delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 shall be effective immediately.
Appears in 9 contracts
Samples: Agreement for Limitation on Appraised Value of Property for School District Maintenance and Operations Taxes, Agreement for Limitation on Appraised Value of Property for School District Maintenance and Operations Taxes, Agreement for Limitation on Appraised Value of Property for School District Maintenance and Operations Taxes
OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement beginning of the Tax Limitation Period, to terminate this Agreement without penalty by notifying the District in writing of its exercise of such option. In such event, any Any payment otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due paid to the District within thirty (30) 30 days after it the Applicant delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 shall be effective immediately.
Appears in 4 contracts
Samples: Agreement for Limitation on Appraised Value of Property for School District Maintenance and Operations Taxes, Agreement for Limitation on Appraised Value of Property for School District Maintenance and Operations Taxes, Agreement for Limitation on Appraised Value of Property for School District Maintenance and Operations Taxes
OPTION TO TERMINATE AGREEMENT. In the event the Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment, the Applicant shall have the option, prior to the commencement of the Tax Limitation Period, to terminate this Agreement by notifying the District in writing of its exercise of such option. In such event, Applicant shall remit any payment otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement shall be due to the District accruing through (but not after) date of termination within thirty (30) days after it delivers its termination election. Any termination of this Agreement under the foregoing provision of this Section 4.10 4.11 shall be effective immediately.
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