Payment in lieu of Ad Valorem Taxes Sample Clauses

Payment in lieu of Ad Valorem Taxes. Section 1.1 A. Subject to the completion and filing by the taxable status date March 1, 2024 (the "Taxable Status Date") of New York State Form RP-412-a Application For Real Property Tax Exemption (the "Exemption Application") under Section 412-a of the New York State Real Property Tax Law (the "RPTL") and Section 874 of the Act and the approval of the Exemption Application by the appropriate assessors or Board of Assessment Review, the Facility shall be exempt from Real Estate Taxes (as hereinafter defined) commencing with the 2024-25 School District tax year, and the 2025 County and Town tax years. For purposes of the foregoing "Real Estate Taxes" means all general levy real estate taxes levied against the Facility by the County, the Town and the School District. The Company shall provide the Agency with the information necessary for the completion and filing of the Exemption Application and shall provide such additional information and take such actions as are required by the appropriate assessors or Board of Assessment Review to process and approve the Exemption Application. Notwithstanding anything contained herein or in the Leaseback Agreement to the contrary, in the event the exemption from Real Estate Taxes is denied for any reason, the Company shall pay (and hereby agrees to pay) all Real Estate Taxes levied upon the Facility as they become due. After giving written notice to the Agency, the Company may, in good faith, contest the denial of the Exemption Application, provided that (i) the overall operating efficiency of the Facility is not impaired and the Facility continues to qualify as a "project" under the Act; (ii) neither the Facility nor any part of or interest in it would be in any danger of being sold, forfeited or lost; or
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Payment in lieu of Ad Valorem Taxes. 1.1 A. Subject to the completion and filing by the taxable status date of March 1, 2024 (the “Taxable Status Date”) of New York State Form RP-412-a Application For Real Property Tax Exemption (the “Exemption Application”) under Section 412-a of the New York State Real Property Tax Law and Section 874 of the Act and the approval of the Exemption Application by the appropriate assessors or Board of Assessment Review, the Land (along with the Improvements once constructed by the Company, as agent of the Agency) shall be exempt from Real Estate Taxes for the periods set forth in Section 1.5. For purposes of the foregoing “
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Payment in lieu of Ad Valorem Taxes. If all or a portion of the Project (other than the public parking component of the Parking Garage which shall not be subject to ad valorem taxes), during the Term, is no longer subject to ad valorem taxes (or to a tax imposed on the Project in lieu of or replacing an ad valorem tax) due to legal or judicial action or otherwise, then Developer shall, each year during the Term, make payments to the City in lieu of such ad valorem taxes, and/or applicable TIF (Tax Increment Financing) payments to the CRA, in an amount equal to that which would have accrued to the City and CRA if the Project was subject to ad valorem taxes in the applicable Rental Year (pro-rated for any partial calendar year). Such payment shall be made on the first day of April of each succeeding year.
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Payment in lieu of Ad Valorem Taxes. 1.0. The forgoing recitals are incorporated herein by reference as if fully set forth hereinbelow.
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Payment in lieu of Ad Valorem Taxes. The Housing Authority agrees to pay the City and the City agrees to accept from the Housing Authority annual payments in lieu of ad valorem property taxes that would otherwise be assessed against the City against properties owned and managed by the Housing Authority. Payments shall be made annually in the amount determined by the United States Department of Urban Development (HUD) budgeted for the payment of PILOT payments to local municipalities.
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Payment in lieu of Ad Valorem Taxes. Section 1.1 A. Subject to the completion and filing by the Agency by the taxable status date March 1, 2023 (the "Taxable Status Date") of New York State Form RP-412-a "Application For Real Property Tax Exemption" (the "Exemption Application") under Section 412-a of the New York State Real Property Tax Law (the "RPTL") and Section 874 of the Act, the Facility shall be exempt from Real Estate Taxes (as defined hereafter) commencing with the
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Payment in lieu of Ad Valorem Taxes. The Housing Authority agrees to pay the City and the City agrees to accept from the Housing Authority annual payments in lieu of ad valorem property taxes an amount equal to $102.00 per unit per year. The City and the Housing Authority agree to review the amount of the per unit per year payment every five (5) years in order to calculate a payment in lieu of ad valorem taxes consistent with the then existing HUD guidelines.
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Payment in lieu of Ad Valorem Taxes. If, during the Term, all or a portion of the Private Facilities or Premises is no longer subject to ad valorem taxes (or to a tax imposed on the Project in lieu of or replacing an ad valorem tax) due to legal or judicial action or otherwise as a result of the City’s ownership of fee simple title to the Landlord Estate, then Tenant shall, for each year during the Term for which such property is not subject to ad valorem taxes, make payments to Landlord in lieu of such ad valorem taxes which would have otherwise accrued to the City. Such payment shall be equal to the ad valorem taxes attributable to the Private Facilities or portion thereof, as applicable, paid or payable to the City for the last year such property was subject to ad valorem taxation, and shall be adjusted each subsequent year in accordance with the cumulative property valuation changes of the Private Facilities or portion thereof, provided by the Broward County Property Appraiser (the “Property Appraiser”) for so long as the Property Appraiser provides such values. In the event the Property Appraiser no longer provides such values, such payment shall be equal to the valuation attributable to the Private Facilities or portion thereof, as applicable, for the last year such property valuation was provided by the Property Appraiser and shall be adjusted annually by the net change of the reasonable value of the Private Facilities or portion thereof. For each year that the Private Facilities or Premises or portion thereof is not subject to ad valorem taxes, the payment required by this Section shall be made on the first day of April of the succeeding year as an Additional Reimbursement. The requirements of this Section shall commence the year following the Commencement Date and shall terminate in the event that the City ceases to possess the Landlord Estate.
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Payment in lieu of Ad Valorem Taxes 
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Related to Payment in lieu of Ad Valorem Taxes

  • Prices; Taxes 1.1 Prices are subject to change at any time, except with respect to orders which have been accepted by Seller and outstanding quoted prices which shall be valid for the longer of 10 days or the period specified with the quote. All prices are based on the quantity indicated and are Ex Works (“EXW” - Incoterms 2010) Seller’s facility. Any notice or instruction from the Buyer requesting a change in the quantity specifications, scope of work, or other terms, will not be effective unless accepted in writing by Seller, including appropriate adjustments to price, specifications, delivery date and other terms. Seller reserves the right to correct errors in pricing due to inaccurate or incomplete information, clerical mistakes or other causes.

  • Payment of Taxes The Company shall from time to time promptly pay all taxes and charges that may be imposed upon the Company or the Warrant Agent in respect of the issuance or delivery of shares of Common Stock upon the exercise of the Warrants, but the Company shall not be obligated to pay any transfer taxes in respect of the Warrants or such shares of Common Stock.

  • Withholding of Taxes The Company may withhold from any amounts payable under this Agreement all federal, state, city or other taxes as the Company is required to withhold pursuant to any applicable law, regulation or ruling.

  • Taxes The Company shall pay, and shall cause each of its Subsidiaries to pay, prior to delinquency, all material taxes, assessments, and governmental levies except such as are contested in good faith and by appropriate proceedings or where the failure to effect such payment is not adverse in any material respect to the Holders of the Notes.

  • Withholding Taxes The Company may withhold from any amounts payable under this Agreement such Federal, state and local taxes as may be required to be withheld pursuant to any applicable law or regulation.

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