PILOT Payments. (1) From the PILOT Commencement Date through and including the last day of the twentieth (20th) fiscal tax year thereafter (such date, the “Abatement Expiration Date” and such period, the “Term”), the Obligor shall make payments in lieu of real property taxes and assessments levied and/or assessed by the Taxing Entities against the Project Facility as set forth on Schedule B hereto, subject to the provisions of Section 2(B)(3) hereof. The payments in lieu of real property taxes and assessments levied and/or assessed by the Taxing Entities against the Project Facility pursuant to clause (1) above are referred to herein as the “PILOT Payments.”
PILOT Payments. (a) As long as this Lease Agreement is in effect, the Company agrees to make payments in lieu of all real estate taxes and assessments (the “PILOT Payments”) (in addition to paying all special ad valorem levies, special assessments or Special District Taxes and service charges against real property located in the Town of Brookhaven, Eastport - South Manor Central School District, Suffolk County (including any existing incorporated village or any village which may be incorporated after the date hereof, within which the Facility is or may be wholly or partially located) (the “Taxing Authorities”) which are or may be imposed for special improvements or special district improvements) which would be levied upon or with respect to the Facility if the Facility were owned by the Company exclusive of the Agency’s leasehold interest (the “Taxes on the Facility”). The amounts of such PILOT Payments are set forth in Exhibit C attached hereto. PILOT Payments shall be allocated among the Taxing Authorities in proportion to the amount of real property tax and other taxes which would have been received by each Taxing Authority if the Facility was owned by the Company exclusive of the Agency’s leasehold interest.
PILOT Payments. (a) As long as this Lease Agreement is in effect, the Company agrees to make payments in lieu of all real estate taxes and assessments (the “PILOT Payments”) (in addition to paying all special ad valorem levies, special assessments or Special District Taxes and service charges against real property located in the Incorporated Village of Port Jefferson, Town of Brookhaven, Brookhaven-Comsewogue Union Free School District, Suffolk County (including any existing incorporated village or any village which may be incorporated after the date hereof, within which the Facility is or may be wholly or partially located) (the “Taxing Authorities”) which are or may be imposed for special improvements or special district improvements) which would be levied upon or with respect to the Facility if the Facility were owned by the Company exclusive of the Agency’s leasehold interest (the “Taxes on the Facility”). The amounts of such PILOT Payments are set forth in Exhibit C attached hereto. PILOT Payments shall be allocated among the Taxing Authorities in proportion to the amount of real property tax and other taxes which would have been received by each Taxing Authority if the Facility was owned by the Company exclusive of the Agency’s leasehold interest.
PILOT Payments. From the PILOT Commencement Date through and including the last day of the twentieth (20th) fiscal tax year thereafter (such date, the “Abatement Expiration Date” and such period, the “Term”), the Obligor shall make payments in lieu of real property taxes and assessments levied and/or assessed by the Taxing Entities against the Facility as set forth on Schedule B hereto, subject to the provisions of Section 2(B)(3) hereof. The payments in lieu of real property taxes and assessments levied and/or assessed by the Taxing Entities against the Facility pursuant to clause (1) above are referred to herein as the “PILOT Payments.”
PILOT Payments. Neither Seller nor to the best of Seller’s knowledge the City of Jersey City, New Jersey is in material default under the Tax Abatement Agreement.
PILOT Payments. The Authority has the sole discretion for determining whether to challenge any payment in lieu of tax (PILOT) payments made on any Retained Asset. At the Authority's request, the Manager shall assist the Authority in evaluating whether to challenge any PILOT payment and with its concurrence shall represent the Authority in any litigation challenging such PILOT payment. In the event the Manager challenges any excessive PILOT payment in court, any PILOT refunds received shall be shared 25%/75% between the Manager and the Authority, respectively. The Manager shall be responsible for all litigation-related costs pertaining to such challenge, provided, however, that if such litigation is terminated solely at the Authority's request, or if this Agreement expires or is terminated by either party, the Manager shall be reimbursed for all of its costs related to litigations brought at the request of the Authority plus interest at the Base Interest Rate to the extent such costs are not included in the Annual T&D Budget.
PILOT Payments. If Tenant purchases its Tenant Unit pursuant to the terms of this Lease prior to the TSA Termination Date and if Xxxxx also purchases the Xxxxx Unit (as defined in Section 23.1(c) below) pursuant to the terms of the Xxxxx Lease prior to such TSA Termination Date, Tenant will thereafter cause the State of Rhode Island to make payments to the City of Providence with respect to the Xxxxx Unit (the “PILOT Payments”) in accordance with RIGL §45-13-5.1, as the same may be hereafter amended (as so amended, the “State Pilot Statute”), as the percentage being paid under the State Pilot Statute may be modified from time to time pursuant to legislative appropriations. Such Pilot Payments by the State shall be in addition to tax payments to be made by Xxxxx under the Xxxxx Lease with respect to the Xxxxx Unit. Tenant acknowledges that under the TSA, if Tenant purchases the Tenant Unit and Xxxxx purchases the Xxxxx Unit, the City may elect to terminate the TSA, in whole or in part, with respect to the Xxxxx Unit only, whereupon the amount of taxes due on the Xxxxx Unit (were the Xxxxx Unit not owned by Xxxxx, i.e., a tax-exempt entity) shall thereafter be a non-stabilized amount. Tenant further acknowledges and agrees that (i) the City of Providence shall be a third party beneficiary of this Section 5, is entitled to rely upon this Section 5 in connection with its entering into such TSA, and shall be entitled to enforce this Section 5, and (ii) that this Section 5 may not be modified, altered or amended without the prior written consent of the City of Providence. Notwithstanding anything contained herein to the contrary, in no event shall the State be obligated to make PILOT Payments to the City in accordance with this Section 5 that are greater than the amount (the “Gap Amount”) equal to the Stabilized Tax Payments minus any amounts due and owing from Xxxxx to the City pursuant to the Xxxxx Lease and Section 10(b) of the TSA.
PILOT Payments. (a) “Base PILOT Amount” means the PILOT Amount payable by Landlord pursuant to the PILOT Agreement for the Tax Year commencing on July 1, 2021 (the “Base PILOT Year”) pursuant to the terms of the PILOT Agreement as in effect as of the Effective Date. “PILOT Amount” shall have the meaning ascribed to such term in the PILOT Agreement, as such PILOT Agreement is in effect on the Effective Date.
PILOT Payments. Borrower shall pay all amounts required to be paid by Fee Borrower under the PILOT Agreement as and when such amounts become due, if any.
PILOT Payments. (1) From the PILOT Commencement Date through and including the last day of the twenty-eight (28th) fiscal tax year thereafter (such date, the “Abatement Expiration Date” and such period, the “Term”), the Obligor shall make payments in lieu of real property taxes and assessments levied and/or assessed by the Taxing Entities against the Rental Project Facility as set forth on Schedule B hereto, subject to the provisions of Section 2(B)(3) hereof. The payments in lieu of real property taxes and assessments levied and/or assessed by the Taxing Entities against the Rental Project Facility pursuant to clause (1) above are referred to herein as the “PILOT Payments.”
