STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The District shall receive Supplemental Payments on the dates set forth in the following schedule. Agreement Year School Year Tax Year Payment Due Date Supplemental Payment 0 (Stub) 2020 – 2021 2020 January 31, 2021 $ 66,913.00 QTP1 2021 – 2022 2021 January 31, 2022 $ 66,913.00 QTP2 2022 – 2023 2022 January 31, 2023 $ 66,913.00 L1 2023 – 2024 2023 January 31, 2024 $ 66,913.00 L2 2024 – 2025 2024 January 31, 2025 $ 66,913.00 L3 2025 – 2026 2025 January 31, 2026 $ 66,913.00 L4 2026 – 2027 2026 January 31, 2027 $ 66,913.00 L5 2027 – 2028 2027 January 31, 2028 $ 66,913.00 L6 2028 – 2029 2028 January 31, 2029 $ 66,913.00 L7 2029 – 2030 2029 January 31, 2030 $ 66,913.00 L8 2030 – 2031 2030 January 31, 2031 $ 66,913.00 L9 2031 – 2032 2031 January 31, 2032 $ 66,913.00 L10 2032 – 2033 2032 January 31, 2033 $ 66,913.00 MVP1 2033 – 2034 2033 January 31, 2034 $ 66,913.00 MVP2 2034 – 2035 2034 January 31, 2035 $ 66,913.00 MVP3 2035 – 2036 2035 January 31, 2036 $ 66,913.00 MVP4 2036 – 2037 2036 January 31, 2037 $ 0.00 MVP5 2037 – 2038 2037 January 31, 2038 $ 0.00 Applicant expressly agrees and warrants that Applicant will be obligated to have made Supplemental payments to the District in an amount equal to Sixty-Six Thousand, Nine Hundred Thirteen Dollars ($66,913.00) per year for each Tax Year of this Agreement beginning with Tax Year 2021 and ending with Tax Year 2035. Failure to make such payments shall be treated as a Material Breach of the Agreement and be subject to the provisions of Article IX, below.
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The District shall receive Supplemental Payments on the dates set forth in the following schedule. Agreement School Tax Payment Supplemental Year Year Year Due Date Payment Stub Year 2021 – 2022 2021 January 31, 2022 $ 50,000.00 QTP1 2022 – 2023 2022 January 31, 2023 $ 50,000.00 QTP2 2023 – 2024 2023 January 31, 2024 $ 50,000.00 L1 2024 – 2025 2024 January 31, 2025 $ 50,000.00 L2 2025 – 2026 2025 January 31, 2026 $ 50,000.00 L3 2026 – 2027 2026 January 31, 2027 $ 50,000.00 L4 2027 – 2028 2027 January 31, 2028 $ 50,000.00 L5 2028 – 2029 2028 January 31, 2029 $ 50,000.00 L6 2029 – 2030 2029 January 31, 2030 $ 50,000.00 L7 2030 – 2031 2030 January 31, 2031 $ 50,000.00 L8 2031 – 2032 2031 January 31, 2032 $ 50,000.00 L9 2032 – 2033 2032 January 31, 2033 $ 50,000.00 L10 2033 – 2034 2033 January 31, 2034 $ 50,000.00 MVP1 2034 – 2035 2034 January 31, 2035 $ 50,000.00 MVP2 2035 – 2036 2035 January 31, 2036 $ 50,000.00 MVP3 2036 – 2037 2036 December 31, 2036 $ 50,000.00 Applicant expressly agrees and warrants that Applicant will be obligated to have made Supplemental payments to the District in an amount equal to Fifty Thousand Dollars ($50,000.00) per year for each Tax Year of this Agreement beginning with Tax Year 2021 and ending with Tax Year 2036. Failure to make such payments shall be treated as a Material Breach of the Agreement and be subject to the provisions of Article IX, below.
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. SUBJECT TO AGGREGATE LIMIT. In addition to the Supplemental Payment limitation set forth in Section 6.2, and except as otherwise provided in Section 6.3 with respect to the Initial Supplemental Payment, for any Tax Year during the term of this Agreement, the District shall not be entitled to receive Supplemental Payments that exceed the lesser of:
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. SUBJECT TO NET AGGREGATE LIMIT In any year during the term of this Agreement, the District shall be entitled to receive a payment in an amount equal to the lesser of:
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The District shall receive Supplemental Payments on the dates set forth in the following schedule. Agreement Year School Year Tax Year Payment Due Date Supplemental Payment Stub 2020 – 2021 2020 January 31, 2021 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year QTP1 2021 – 2022 2021 January 31, 2022 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year QTP2 / L1 2022 – 2023 2022 January 31, 2023 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L2 2023 – 2024 2023 January 31, 2024 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L3 2024 – 2025 2024 January 31, 2025 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L4 2025 – 2026 2025 January 31, 2026 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L5 2026 – 2027 2026 January 31, 2027 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L6 2027 – 2028 2027 January 31, 2028 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L7 2028 – 2029 2028 January 31, 2029 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L8 2029 – 2030 2029 January 31, 2030 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L9 2030 – 2031 2030 January 31, 2031 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year L10 2031 – 2032 2031 January 31, 2032 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year MVP1 2032 – 2033 2032 January 31, 2033 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year MVP2 2033 – 2034 2033 January 31, 2034 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year MVP3 2034 – 2035 2034 January 31, 2035 Greater of $50,000 or $100 multiplied by the District’s ADA for the previous school year MVP4 2035 – 2036 2035 January 31, 2036 $0.00 MVP5 2036 – 2037 2036 January 31, 2037 $0.00 Applicant expressly agrees and warrants that Applicant will be obligated to have made Supplemental payments to the District in an amount either equal to Fifty Thousand Dollars ($50,000.00) or $100 multiplied by the District’s ADA for the previous school year, whichever is greater, per year for each Tax Year of this Agreement be...
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. SUBJECT TO ANNUAL LIMIT. Applicant shall make Supplemental Payments on or before January 31, 2030 (the payment due date for Tax Year 2021), and continuing thereafter on or before January 31 of each year for the maximum period permitted under Section 313.027(i) of the TEXAS TAX CODE, except that Applicant’s final Supplemental Payment shall be due on or before December 31, 2041 for Tax Year 2041. The Applicant shall make Supplemental Payments to District in an amount equal to the Annual Limit. The Applicant shall make Amendment No. 2 to Agreement for Limitation on Appraised Value Texas Economic Development Act Agreement Between Bay City ISD and Xxxxx America LLC - #1483 Comptroller Form 50-826 (Jan. 2020) October 18, 2022 Page 2 of 6 Supplemental Payments to District in an amount equal to the Annual Limit. Supplemental Payments for Tax Years 2021, 2022, 2023, and 2029 shall be accrued and payable, in whole, on or before January 31, 2030 as per the following schedule: Tax Year Due Date Amount Due 2021* January 31, 2030 $249,525 2022* January 31, 2030 $249,525 2023* January 31, 2030 $249,525 2029 January 31, 2030 $249,525 2030 January 31, 2031 $249,525 2031 January 31, 2032 $249,525 2032 January 31, 2033 $249,525 2033 January 31, 2034 $249,525 2034 January 31, 2035 $249,525 2035 January 31, 2036 $249,525 2036 January 31, 2037 $249,525 2037 January 31, 2038 $249,525 2038 January 31, 2039 $249,525 2039 January 31, 2040 $249,525 2040 January 31, 2041 $249,525 2041 December 31, 2041 $249,525 * Tax Years 2021, 2022, and 2023 shall not be due until January 31, 2030.
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. SUBJECT TO NET AGGREGATE LIMIT In any year during the term of this Agreement, the District shall not be entitled to receive Supplemental Payments that exceed the lesser of:
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. In any year during the term of this Agreement, the District shall be entitled to receive a payment in an amount equal to the lesser of:
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. The District shall receive Supplemental Payments on the dates set forth in the following schedule: Presence to the extent such failure is caused by Force Majeure, provided the Applicant makes commercially reasonable efforts to remedy the cause of such Force Majeure.
STIPULATED SUPPLEMENTAL PAYMENT AMOUNT. SUBJECT TO ANNUAL LIMIT. Applicant shall make Supplemental Payments on or before January 31, 2022 (the payment due date for Tax Year 2021), and continuing thereafter on or before January 31 of each year for the maximum period permitted under Section 313.027(i) of the TEXAS TAX CODE, except that Applicant’s final Supplemental Payment shall be due on or before December 31, 2034 for tax year 2034. The Applicant shall make Supplemental Payments to District in an amount equal to the Annual Limit.
