Common use of Sponsor Affiliates Clause in Contracts

Sponsor Affiliates. The Operating Company may designate from time to time Sponsor Affiliates pursuant to the provisions of Section 12-44-30(20) and Section 00-00-000 of the Act, which Sponsor Affiliates shall be persons who join with the Company and make investments with respect to the Project, or who participate in the financing of such investments, who agree to be bound by the terms and provisions of this Agreement, and who shall be direct affiliates of the Operating Company or other persons described in Section 8.01 hereof. All Sponsor Affiliates must meet the requirements of said Section 12-44-30(20) and Section 12-44- 130 of the Code and be approved by Resolution of the County Council. To the extent permitted by the Act (and specifically Section 00-00-000 thereof), the investment by any such Sponsor Affiliate shall qualify for the FILOT Payments payable under Section 5.02 hereof (subject to the other conditions set forth therein). The Operating Company shall provide the County and the Department with written notice of any Sponsor Affiliate designated pursuant to this Section 8.02 within ninety (90) days after the end of the calendar year during which any such Sponsor Affiliate has placed in service assets to be used in connection with the Project, all in accordance with Section 12-44-130(B) of the Act.

Sponsor Affiliates. The Operating Company may designate from time to time Sponsor Affiliates pursuant to the provisions of Section 12-44-30(20) and Section 00-00-000 of the Act, which Sponsor Affiliates shall be persons who join with the Company and make investments with respect to the Project, or who participate in the financing of such investments, who agree to be bound by the terms and provisions of this Agreement, and who shall be direct affiliates of the Operating Company or other persons described in Section 8.01 hereof. All Sponsor Affiliates must meet the requirements of said Section 12-44-30(20) and Section 1200-44- 130 00-000 of the Code and be approved by Resolution of the County Council. To the extent permitted by the Act (and specifically Section 00-00-000 thereof), the investment by any such Sponsor Affiliate shall qualify for the FILOT Payments payable under Section 5.02 hereof (subject to the other conditions set forth therein). The Operating Company shall provide the County and the Department with written notice of any Sponsor Affiliate designated pursuant to this Section 8.02 within ninety (90) days after the end of the calendar year during which any such Sponsor Affiliate has placed in service assets to be used in connection with the Project, all in accordance with Section 12-44-130(B) of the Act.