Payments in Lieu of Taxes on Replacement Property. If the Sponsor elects to replace any Removed Components (as defined below) and to substitute such Removed Components with Replacement Property as a part of the Project, then, pursuant and subject to Section 12-44-60 of the Act, the Sponsor shall make statutory payments in lieu of ad valorem taxes with regard to such Replacement Property as follows (subject in all events to the applicable provisions of the Act):
Appears in 6 contracts
Samples: Taxes Agreement, Valorem Taxes Agreement, Valorem Taxes Agreement
Payments in Lieu of Taxes on Replacement Property. If the Sponsor elects and Sponsor Affiliate elect to replace any Removed Components (as defined below) and to substitute such Removed Components with Replacement Property as a part of the Project, then, pursuant and subject to Section 12-12- 44-60 of the Act, the Sponsor and the Sponsor Affiliate shall make statutory payments in lieu of ad valorem taxes with regard to such Replacement Property as follows (subject in all events to the applicable provisions of the Act):
Appears in 1 contract
Samples: Valorem Taxes Agreement
