Common use of Schedule for Incentive Payments Clause in Contracts

Schedule for Incentive Payments. Provided the Company has demonstrated compliance with the terms of this Agreement, and the prior year value of no Project property parcel was contested as of January 31 of the year following the applicable year, a Chapter 380 Payment shall be paid to the Company by the City on an annual basis for the preceding year, on or before October 31st. The first Chapter 380 Payment shall be based on taxes paid for the calendar year 2025, and shall be paid on or before October 31, 2026, provided the Company has demonstrated compliance with the terms of this Agreement, and the 2025 value of no Project property parcel was contested as of January 31, 2026. The final Chapter 380 Payment shall be based on taxes paid for the calendar year 2029, and shall be paid on or before October 31, 2030, provided the Company has demonstrated compliance with the terms of this Agreement, and the 2029 value of no Project property parcel was contested as of January 31, 2030.

Schedule for Incentive Payments. Provided the Company has demonstrated compliance with the terms of this Agreement, and the prior year value of no the Project property parcel was not contested as of January 31 of the year following the applicable year, a Chapter 380 Payment shall be paid to the Company by the City on an annual basis for the preceding year, on or before October 31st. The first Chapter 380 Payment shall be based on taxes paid for the calendar year 2025Company’s performance during 2020, and shall be paid on or before October 31, 20262021, provided the Company has demonstrated compliance with the terms of this Agreement, and the 2025 Year1 value of no the Project property parcel was not contested as of January 31, 20262021. The final last Chapter 380 Payment shall be based on taxes paid for the calendar year 2029Company’s performance during 2024, and shall be paid on or before October 31, 20302025, provided the Company has demonstrated compliance with the terms of this Agreement, and the 2029 2024 value of no Project property parcel was contested as of January 31, 20302025.

Schedule for Incentive Payments. Provided the Company has demonstrated compliance with the terms of this Agreement, and the prior year value of no Project property parcel was contested as of January 31 of the year following the applicable year, a Chapter 380 Payment shall be paid to the Company by the City on an annual basis for the preceding year, on or before October 31st. The first Chapter 380 Payment shall be based on taxes paid for the calendar year 2025Company’s performance during 2020, and shall be paid on or before October 31, 20262021, provided the Company has demonstrated compliance with the terms of this Agreement, and the 2025 Year1 value of no Project property parcel was contested as of January 31, 20262021. The final last Chapter 380 Payment shall be based on taxes paid for the calendar year 2029Company’s performance during 2024, and shall be paid on or before October 31, 20302025, provided the Company has demonstrated compliance with the terms of this Agreement, and the 2029 2024 value of no Project property parcel was contested as of January 31, 20302025.