Common use of PAYMENT LIMITATION; AGGREGATE LIMIT Clause in Contracts

PAYMENT LIMITATION; AGGREGATE LIMIT. In the event that the Revenue Protection Amount for any Tax Year during the Limitation Period of this Agreement shall exceed the Applicant’s Net Tax Benefit for that Tax Year, the Revenue Protection Amount owed for that year shall be limited to the Applicant’s Net Tax Benefit for that Tax Year. Amounts otherwise due and owing by the Applicant to the District which, by virtue of this payment limitation, are not paid in that Tax Year shall be carried forward from year to year into subsequent Tax Years until paid in full.

PAYMENT LIMITATION; AGGREGATE LIMIT. In the event that the Revenue Protection Amount Cumulative Payments for any Tax Year during the Tax Limitation Period of this Agreement shall exceed the Applicant’s Net Tax Benefit for that Tax Year, the Revenue Protection Amount Cumulative Payments owed for that year shall be limited to the Applicant’s Net Tax Benefit for that Tax Year. Amounts otherwise due and owing by the Applicant to the District which, by virtue of this payment limitation, are not paid in that Tax Year shall be carried forward from year to year into subsequent Tax Years until paid in full.

PAYMENT LIMITATION; AGGREGATE LIMIT. In the event that the Revenue Protection Amount Cumulative Payments for any Tax Year during the Limitation Period of this Agreement shall exceed the Applicant’s Net Tax Benefit for that Tax Year, then the Revenue Protection Amount Cumulative Payments owed for that year shall be limited to the Applicant’s Net Tax Benefit for that Tax Year. Amounts otherwise due and owing by the Applicant to the District which, by virtue of this payment limitation, are not paid in that Tax Year shall be carried forward from year to year into subsequent Tax Years until paid in full.

PAYMENT LIMITATION; AGGREGATE LIMIT. In the event that the Revenue Protection Amount for any Tax Year during the Limitation Period of this Agreement shall exceed the Applicant’s Net Tax Benefit Aggregate Limit for that Tax Year, the Revenue Protection Amount owed for that year shall be limited to the Applicant’s Net Tax Benefit Aggregate Limit for that Tax Year. Amounts otherwise due and owing by the Applicant to the District which, by virtue of this payment limitation, are reduced by the application of the Aggregate Limit and not paid in that Tax Year shall be carried forward from year to year into subsequent Tax Years until paid in full.