RECITATION OF FACTS Sample Clauses

RECITATION OF FACTS. Section 1.1. As a means of setting forth the matters of mutual inducement which have resulted in the making and entering into of this Agreement, the following statements of fact are herewith recited: (a) The County, by and through its County Council, is authorized and empowered by the provisions of Title 12, Chapter 44 (the “FILOT Act”) and Title 4, Chapter 1 (the “Multi-County Park Act”), Code of Laws of South Carolina 1976, as amended (the “Code”), to allow for the payment of certain fees in lieu of ad valorem taxes with respect to industrial properties; to issue special source revenue bonds, or in the alternative, to provide special source credits against payment in lieu of taxes for reimbursement in respect of investment in certain infrastructure serving the County or the project, including improved or unimproved real estate and personal property, including machinery and equipment, used in the manufacturing or industrial enterprise (collectively, “Infrastructure”); through all such powers the development of the State of South Carolina (the “State”) will be promoted and trade developed by inducing new industries to locate in the State and by encouraging industries now located in the State to expand their investments and thus utilize and employ manpower and other resources of the State and benefit the general public welfare of the County by providing services, employment, recreation or other public benefits not otherwise provided locally. (b) The Company requested that the County assist in the acquisition, construction and installation of land, buildings, improvements, fixtures, machinery, equipment, furnishings and other real and/or tangible personal property to constitute a manufacturing facility in the County (collectively, the “Project”), which will result in an expected investment by the Company in the Project of at least $5,000,000 (the “Investment Target”) and the expected creation by the Company of at least fifty (50) net new, full- time, jobs (with benefits) with respect thereto (the “Jobs Creation Target”),by December 31 of the fifth year after the first year in which any portion of the Project is first placed in service (the “Investment Period”). (c) Pursuant to the authority of Section 4-1-170 of the Multi-County Park Act and Article VIII, Section 13 of the South Carolina Constitution, the County will use its best efforts to place the site of the Project in a multi-county industrial and business park (the “Park”) established by the County pur...
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RECITATION OF FACTS. As a means of setting forth the matters of mutual inducement which have resulted in the making and entering into of this Agreement, the following statements of fact are herewith recited:
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RECITATION OF FACTS. Section 1.1. As a means of setting forth the matters of mutual inducement which have resulted in the making and entering into of this Agreement, the following statements of fact are herewith recited: (a) The County, by and through its County Council, is authorized and empowered by the provisions of Title 12, Chapter 44, Code of Laws of South Carolina 1976, as amended (the “Act”) to allow for the payment of certain fees in lieu of ad valorem taxes with respect to industrial properties through which the industrial development of the State of South Carolina (the “State”) will be promoted and trade developed by inducing new industries to locate in the State and by encouraging industries now located in the State to expand their investments and thus utilize and employ manpower and other resources of the State and benefit the general public welfare of the County by providing services, employment, recreation or other public benefits not otherwise provided locally. (b) The Company has requested the County’s assistance in the acquisition, installation and construction of certain land, improvements, fixtures, machinery, equipment, furnishings and/or other real and/or tangible personal property (collectively, the “Project”) to constitute an expansion of the Company’s manufacturing facilities in the County, including the construction of a new facility at a new location in the County. The Project will involve an aggregate investment of at least $15,500,000 by the Company and any Sponsor Affiliates (within the meaning of the Act), and the creation of 29 new, full- time jobs with respect thereto, all during the period beginning January 1, 2013 and ending December 31, 2018 (the “Investment Period”). (c) The Company and the County have agreed to negotiate an agreement for payments in lieu of ad valorem taxes as authorized by the Act. (d) Pursuant to the authority of Section 4-1-170, Code of Laws of South Carolina, as amended (the “Multi-County Park Act”), and Article VIII, Section 13 of the South Carolina Constitution, the County will use its best efforts to cause the new Project site to be located in a multi-county industrial and business park (a “Multi-County Park”) established by the County pursuant to qualifying agreement with an adjoining county in the State (a “Multi-County Park Agreement”). (e) The County has given due consideration to the economic development impact of the Project, and as a preliminary matter based on information provided by the Company, hereby find...
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RECITATION OF FACTS. Section 1. As a means of setting forth the matters of this PILOT which have resulted in the making and entering into of this Agreement, the following statements of fact are herewith recited: 1.1. A local government is authorized and empowered by the provisions of Section 7-513(c), Subtitle 5, Title 7 of the Maryland Annotated Property Tax Code to enter into an agreement with the owner of a facility for the generation of electricity that locates in the County for a negotiated payment by the owner in lieu of taxes on the facility. An agreement for a negotiated payment in lieu of taxes under this section shall provide that, for the term specified in the agreement: the owner shall pay to the county a specified amount each year in lieu of the payment of County real estate and personal property tax; and all or a specified part of the real and personal property at the facility shall be exempt from County property tax for the term of the agreement. 1.2. The Company desires to design, purchase, install, own, operate and maintain a 1,200kW Combined Heat and Power (“CHP”), co-generation system (the “System”) at the Hospital which uses natural gas for the production of electricity ("Energy"), steam and hot water for the benefit of the Hospital at 000 Xxx Xxxxxx, Xxxxxx, Xxxxx Xxxxxx, Maryland 21921. The Hospital desires and has agreed to purchase from the Company all of the Energy produced from the System for use at the hospital. Except for downtime required for scheduled maintenance, the System may continuously run to provide additional backup Energy, steam, hot water and chilled water during electrical utility outages and emergencies, thus allowing the Hospital to continue to care for patients at alltimes. 1.3. As a result of installing the System, all hospital services would be maintained by the Hospital during an emergency for the citizens of Xxxxx County, inclusive of: 1.3.1. Full Kitchen and Nutrition Services allowing full meal services to patients and staff 1.3.2. Full Central Sterile Processing allowing all surgical activity tocontinue 1.3.3. Full Materials Management Functions allowing continual supply replenishment during emergency status 1.3.4. All Site Lighting would be operable allowing County Resources to stage on illuminated parking lots 1.3.5. All Security camera systems and surveillance operations wouldcontinue 1.3.6. All Diagnostic activities will continue to be available 1.3.7. Cooling capacity for hospital buildings maintainable at normallevels 1....
Sample 1
RECITATION OF FACTS. Section 1.1. As a means of setting forth the matters of mutual inducement which have resulted in the making and entering into of this Agreement, the following statements of fact are herewith recited: (a) The County, acting by and through its County Council (the “County Council”) is authorized and empowered under and pursuant to the provisions of the Code of Laws of the State of South Carolina, 1976, as amended (the “Code”), including, without limitation, Chapter 44 of Title 12 of the Code (the “FILOT Act”), and the case law of the Courts of the State of South Carolina (the “State”), to offer and provide certain privileges, benefits, and incentives to commercial enterprises as inducements for economic development within the County; to acquire, or cause to be acquired, properties (which such properties constitute “projects” as defined in the FILOT Act) and to enter into agreements with any business to construct, operate, maintain and improve such projects; to enter into or allow financing agreements with respect to such projects; and, to accept any grants for such projects through which powers the industrial and business development of the State will be promoted and trade developed by inducing manufacturing and commercial enterprises to locate and remain in the State and thus utilize and employ the manpower, agricultural products and natural resources of the State and benefit the general public welfare of the County by providing services, employment, recreation, tourism or other public benefits not otherwise provided locally. (b) The County is authorized by the FILOT Act to execute one or more fee-in-lieu of tax agreements (each, a “Fee Agreement”), as provided for in the FILOT Act, with respect to such projects. (c) The County is authorized by Article VIII, Section 13 of the South Carolina Constitution and Sections 4-1-170, 4-1-172 and 4-1-175 of the Code (the “Joint-County Industrial and Business Park Act”), to enter into agreements with one or more contiguous counties for the creation and operation of one or more joint-county industrial and business parks (a “Park”). (d) The County is authorized and empowered under and pursuant to Section 4-1-175 of the Joint-County Industrial and Business Park Act and Section 12-44-70 of the FILOT Act to provide, for the purposes outlined in Section 4-29-68 of the Code, certain credits (“Infrastructure Credits”) against revenues received and retained under Article VIII, Section 13 of the South Carolina Constitution with ...
Sample 1
RECITATION OF FACTS. 1.1 JD and WL are plaintiffs and JLH/F and JLH/N are defendants in that certain litigation filed in the Circuit Court of the Twelfth Judicial District in and for Sarasota County, Florida being Case No. 96-1978-CA-01 (the "Litigation"). The Estate is the successor in interest to Wilfxxx X. Xxxxxxxxxx xx shareholder relative to the stock of WL. 1.2 The Litigation involves, inter alia, (i) claims associated with the issuance to JD and Wilfxxx X. Xxxxxxxxxx xx share certificate No. JLH 0036 for seventy five thousand (75,000) shares of the common stock of JLH/F and the issuance to WL of share certificate No. JLH 0035 for one hundred and thirty nine thousand eight hundred and eighty two (139,882) shares of the common stock of JLH/F (collectively, the "Stock") and (ii) and claims associated with the obligations of JLH/N and JLH/F under certain promissory notes in favor of WL in the aggregate amount of Four Hundred and Twenty Five Thousand Dollars ($425,000.00) (collectively, the "Notes"). 1.3 CAL is contemplating a merger (the "Merger") with JLH/F which will result in JLH/F being the surviving corporation. The Conaxx'x xxx the original incorporators of and stockholders of JLH/F. 1.4 Conaxx xxx previously a stockholder in Conosier, Inc., a Florida corporation ("Conosier"). Conosier is the owner of certain real property situated in Manatee County, Florida. Conaxx xxxds an unrecorded quit-claim deed (the "Deed") to that portion of the Conosier property described in Exhibit 1 hereof. 1.5 As a condition precedent to their obligations hereunder, JD, the Estate and WL have required that CAL, Conard, JLH/F and JLH/N enter into this Agreement and perform the terms hereof. As a condition precedent to the Merger, CAL has required that the Litigation be dismissed. 1.6 As specified above, although JLH/F will be the surviving corporation upon the completion of the Merger, its chief operating, executive officers and management personnel will be the current chief operating, executive officers and management personnel of CAL. 1.7 The parties have entered into this Agreement in consideration of the mutual covenants and undertakings contained herein and for other good and valuable consideration, the receipt and sufficiency of which is hereby acknowledged by all of the parties hereto. 1.8 The parties acknowledge and agree that the Stock was duly and validly issued, is outstanding, is duly paid and non-assessable, has no restrictions on its alienation or transferability and was never...
Sample 1
RECITATION OF FACTS. VHC was formed in May 1995 for the purpose of acquiring the operating assets of Vision Care, Inc. ("VCI"), a non-stock, not-for-profit Florida corporation that is engaged in the management, administration and provision of prepaid vision care service plans in Florida.
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RECITATION OF FACTS. Mortgagor, as borrower, is obligated to the Mortgagee pursuant to a promissory note of even date in principal amount of $18,300,000.00 (the "Note"). The Note and all present and future obligations of Mortgagor to Mortgagee of whatever nature, liquidated or contingent, incurred in connection with the Note and this Mortgage, as they may be modified or extended, are herein called the "Obligation."
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RECITATION OF FACTS. The Grantor, as borrower, is obligated to the holders of certain secured 11 Promissory Notes dated as of April 1, 1999 (as they have been or may be renewed or modified, called the "Notes") issued pursuant to a Credit Agreement dated as of April 1, 1999 (the "Credit Agreement") by and among the holders, the Grantee and the Grantor.
Sample 1

Related to RECITATION OF FACTS

  • STATEMENT OF FACTS The Superintendent of Insurance is the official charged with administering and enforcing Maine’s insurance laws and regulations, and the Bureau of Insurance is the administrative agency with such jurisdiction.

  • Incorporation of Recitals; Definitions The foregoing recitals are incorporated herein. Capitalized terms not otherwise defined herein shall have the meaning given such terms in the Agreement.

  • Incorporation of Recitals; Defined Terms The parties hereto acknowledge that the Recitals set forth above are true and correct in all material respects. The defined terms in the Recitals set forth above are hereby incorporated into this Agreement by reference. All other capitalized terms used herein without definition shall have the same meanings herein as such terms have in the Credit Agreement.

  • Incorporation of Plan Provisions These Terms and Conditions and the Agreement are made pursuant to the Plan, the provisions of which are hereby incorporated by reference. Capitalized terms not otherwise defined herein shall have the meanings set forth for such terms in the Plan. In the event of a conflict between the terms of these Terms and Conditions and the Agreement and the Plan, the terms of the Plan shall govern.

  • Incorporation of Plan by Reference The Option is granted pursuant to the terms of the Plan, the terms of which are incorporated herein by reference, and the Option shall in all respects be interpreted in accordance with the Plan. The Committee shall interpret and construe the Plan and this instrument, and its interpretations and determinations shall be conclusive and binding on the parties hereto and any other person claiming an interest hereunder, with respect to any issue arising hereunder or thereunder.

  • Certain References Each reference to the Credit Agreement in any of the Loan Documents shall be deemed to be a reference to the Credit Agreement as amended by this Amendment.

  • Incorporation of Recitals and Exhibits The Recitals and each exhibit attached hereto are hereby incorporated herein by reference.

  • Incorporation of defined terms (a) Unless a contrary indication appears, a term defined in the Original Facility Agreement has the same meaning in this Agreement. (b) The principles of construction set out in the Original Facility Agreement shall have effect as if set out in this Agreement.

  • Interpretive Provisions A. The meanings of defined terms include the singular and plural forms. B. The words “hereof,” “herein,” “hereunder,” and similar words refer to this Contract as a whole and not to any particular provision, section, Attachment, or schedule of this Contract unless otherwise specified. C. The term “including” is not limiting and means “including without limitation” and, unless otherwise expressly provided in this Contract, (i) references to contracts (including this Contract) and other contractual instruments shall be deemed to include all subsequent Amendments and other modifications, but only to the extent that such Amendments and other modifications are not prohibited by the terms of this Contract, and (ii) references to any statute or regulation are to be construed as including all statutory and regulatory provisions consolidating, amending, replacing, supplementing, or interpreting the statute or regulation. D. Any references to “sections,” “appendices,” or “attachments” are references to sections, appendices, or attachments of the Contract. E. Any references to agreements, contracts, statutes, or administrative rules or regulations in the Contract are references to these documents as amended, modified, or supplemented from time to time during the term of the Contract. F. The captions and headings of this Contract are for convenience of reference only and do not affect the interpretation of this Contract. G. All Attachments, including those incorporated by reference, and any Amendments are considered part of the terms of this Contract. H. This Contract may use several different limitations, regulations, or policies to regulate the same or similar matters. All such limitations, regulations, and policies are cumulative and each will be performed in accordance with its terms. I. Unless otherwise expressly provided, reference to any action of the System Agency or by the System Agency by way of consent, approval, or waiver will be deemed modified by the phrase “in its sole discretion.” J. Time is of the essence in this Contract.

  • Incorporation of Recitals The recitals hereto are incorporated herein as part of this Agreement.