RPTL §487 Exemption Period Sample Clauses

RPTL §487 Exemption Period. During the period the Solar Array is exempt from general ad valorem real property taxes under RPTL §487 (years 1 to 15), the Company agrees to pay to the Agency at 000 Xxxxxxxx, Xxxxxxxxxx, Xxx Xxxx 00000, or at such other address as shall be designated from time to time by the Agency (the “Agency’s Offices”), payments in lieu of tax (each a "PILOT Payment”) in the amount of Four Thousand Seven Hundred Fifty-Three and 50/l00 ($4,753.50) Dollars per name plate AC MW, which for this 4MW AC name plate Project is Nineteen Thousand Fourteen and 00/100 ($19,014.00) Dollars; For only the fifteen (15) year period during which time the Project is owned by the Company or an Affiliate of the Company and is exempt from general ad valorem real property taxes under Real Property Tax Law §487, the Company shall not and shall cause any of its Affiliates (as such term is defined below) not to enter into any agreement to make payments in lieu of tax, or agree to be subject to general ad valorem real property taxes payments, in each case in amounts greater than the PILOT Payments provided for herein for any other solar photovoltaic electricity generating facility located in Sullivan County compensated for the energy generated by the Public Service Commission’s base Value of Distributed Energy Resource method, and interconnected to the NYSEG electrical grid. For the purposes of this Section 2(a), the term "Affiliate" shall mean any entity which, directly or indirectly, is in control of, is controlled by, or is under common control with, the Company.
Sample 1
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RPTL §487 Exemption Period. During the period the Solar Array is exempt from general ad valorem real property taxes under RPTL §487 (years 1 to 15), the Company agrees to pay to the Agency at Xxx Xxxxxxxxxxx Xxxxxx, Xxxxxxxx, Xxx Xxxx 00000, or at such other address as shall be designated from time to time by the Agency (the "Agency's Offices"), payments in lieu of tax (each a "PILOT Payment") equal to the greater of:
Sample 1
RPTL §487 Exemption Period. Pursuant to Real Property Tax Law § 487, the Solar Array is exempt from general and ad valorem property taxes for a period of fifteen (15) years from the date of system completion.
Sample 1

Related to RPTL §487 Exemption Period

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  • Employee Leaving During Notice An employee whose employment is to be terminated for reasons set out in this clause may terminate employment during the period of notice and, if so, shall be entitled to the same benefits and payments under this clause had the employee remained with the employer until the expiry of such notice. This is with the provision that in such circumstances the employee shall not be entitled to payment instead of notice.

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