Reduction of Payment for Actual Taxes Paid. Except for the ad valorem taxes described in Section 4 herein, the annual amount to be paid pursuant to Section 2 herein shall be reduced (but not below zero) by any actual ad valorem tax payments paid in respect of the real property constituting a part of the Project by or on behalf of the Tenant for any given year.
Reduction of Payment for Actual Taxes Paid. The PILOT shall be reduced by any actual ad valorem tax payments paid in respect of the property constituting the 2012 Tax Abated Project by or on behalf of the Company in respect of the 2012 Tax Abated Project for the current year and any applicable prior years, other than special assessments.
Reduction of Payment for Actual Taxes Paid. The annual amount to be paid pursuant to paragraph 3 above shall be reduced, by any actual ad valorem tax payments paid in respect of the property constituting the Tax Abated Project Portion by or on behalf of RJB in respect of such Tax Abated Project Portion for the current year and any applicable prior years.
