Tax Abatement Agreements Sample Clauses

Tax Abatement Agreements. 5.1 Tax Abatement Agreements must, by statute, contain the following terms and conditions: (a) list the kind, number, and location of all proposed improvements of the property; (b) provide access to and authorize inspection of the property by County employees to ensure that the improvements or repairs are made according to the specifications and conditions of the agreement; (c) limit the uses of the property consistent with the general purpose of encouraging development or redevelopment of the zone during the period that property tax exemptions are in effect; (d) provide for recapturing property tax revenue lost as a result of the agreement if the owner of the property fails to make the improvements or repairs as provided by the agreement; (e) contain each term agreed to by the owner of the property; (f) require the owner of the property to certify annually to the governing body of each taxing unit that the owner is in compliance with each applicable term of the agreement; and (g) provide that the governing body of the County may cancel or modify the agreement if the property owner fails to comply with the agreement. See §§312.205 and 312.206, Tax Code. See Also §312.402, Tax Code. An Owner must stay current on the unabated portions of property taxes on the property. Failure to do so may result in termination of the Tax Abatement Agreement. 5.2 The Tax Abatement Agreement may contain other provisions as required by the County or its legal counsel. 5.3 The duration of a tax abatement shall not exceed ten (10) years. 5.4 The Base Year Value of the property, the percentage of abatement, and the length of abatement shall be clearly set forth in the Agreement. 5.5 The “Base Year Value” is the taxable value of the property for the tax year in which the Agreement is executed. 5.6 The abatement provided by a Tax Abatement Agreement is only for the increase of the taxable value over the Base Year Value caused by the improvements and additions made by the property owner to the property which are specifically set forth in the Agreement. The abatement shall not be applied to improvements or personal property located on the property before the Tax Abatement Agreement is executed, or which are not included in the improvements or additions expressly described in the Tax Abatement Agreement. The abatement provided by the Tax Abatement Agreement shall not apply to inventory or supplies. 5.7 A Tax Abatement Agreement will generally take effect on January 1 of the next year ...
Sample 1
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Tax Abatement Agreements. Without limiting any other provisions of this Lease, Tenant shall be responsible for all obligations and liabilities of Landlord under the Tax Abatement Agreements; including, without limitation, any recapture liability, retroactive taxes and all other reporting requirements, obligations and liabilities of Landlord running to the City under the Tax Abatement Agreements. Landlord explicitly acknowledges the Tax Abatement Agreements and Landlord covenants that it shall use commercially reasonable efforts to assist Tenant in fully realizing the benefits of the tax incentives outlined in the Tax Abatement Agreements to the extent requested by Tenant; provide the same is at no cost to Landlord (including reimbursement of Landlord's reasonable attorney's fees) and does not adversely impact Landlord's rights hereunder. Notwithstanding anything to the contrary herein, Tenant (and its assigns or successors) shall not be liable, and Landlord shall pay, for any recapture liability or retroactive taxes due under the City of Midlothian Tax Abatement Agreement if (A) Landlord (1) sells the Premises or (2) assigns this Lease and such sale or assignment, as applicable, causes the termination of the Tax Abatement Agreement.
Sample 1
Tax Abatement Agreements. Landlord and Tenant have executed or anticipate executing the following agreements (collectively, the "Abatement Agreements"): a. City of San Antonio Tax Abatement Agreement for Real and Personal Property, by and among Landlord, Tenant, and the City of San Antonio, dated August 5, 2021; and b. Bexar County Tax Abatement Agreement [______________] dated [_____________]. Landlord agrees, for the benefit of Tenant, to comply with all covenants applicable to Landlord under the Abatement Agreements, including (without limitation) timely payment of the ad valorem taxes to the appropriate governmental authority prior to delinquency. Landlord agrees that Tenant is entitled to a credit toward Rent in an amount equal to any recapture that Tenant suffers under or in connection with the Abatement Agreements as a result of Landlord's failure to timely pay ad valorem taxes.
Sample 1

Related to Tax Abatement Agreements

  • Tax Agreements The Company is not a party to or bound by any tax sharing agreement, tax indemnity obligation or similar agreement with respect to Taxes, including any advance pricing agreement, closing agreement or other agreement relating to Taxes with any taxing authority.

  • Lease Agreements 13.1 The Customer shall provide FPL a copy of the lease agreement, as applicable, for any and all leased interconnection equipment. 13.2 The Customer shall not enter into any lease agreement that results in the retail purchase of electricity; or the retail sale of electricity from the Customer-owned renewable generation. Notwithstanding this restriction, in the event it is determined by the Florida Public Service Commission that the Customer has entered such an agreement, the Customer shall be in breach of this Interconnection Agreement and the lessor may become subject to the jurisdiction and regulations of the Florida Public Service Commission as a public utility.

  • Post Closing Agreements From and after the Closing, the parties shall have the respective rights and obligations which are set forth in the remainder of this Article VI.

  • Reciprocal Easement Agreements (a) Neither Borrower, nor any other party is currently in default (nor has any notice been given or received with respect to an alleged or current default) under any of the terms and conditions of the REA, and the REA remains unmodified and in full force and effect; (b) All easements granted pursuant to the REA which were to have survived the site preparation and completion of construction (to the extent that the same has been completed), remain in full force and effect and have not been released, terminated, extinguished or discharged by agreement or otherwise; (c) All sums due and owing by Borrower to the other parties to the REA (or by the other parties to the REA to the Borrower) pursuant to the terms of the REA, including without limitation, all sums, charges, fees, assessments, costs, and expenses in connection with any taxes, site preparation and construction, non-shareholder contributions, and common area and other property management activities have been paid, are current, and no lien has attached on the Property (or threat thereof been made) for failure to pay any of the foregoing; (d) The terms, conditions, covenants, uses and restrictions contained in the REA do not conflict in any manner with any terms, conditions, covenants, uses and restrictions contained in any Lease or in any agreement between Borrower and occupant of any peripheral parcel, including without limitation, conditions and restrictions with respect to kiosk placement, tenant restrictions (type, location or exclusivity), sale of certain goods or services, and/or other use restrictions; and (e) The terms, conditions, covenants, uses and restrictions contained in each Lease do not conflict in any manner with any terms, conditions, covenants, uses and restrictions contained in the REA, any other Lease or in any agreement between Borrower and occupant of any peripheral parcel, including without limitation, conditions and restrictions with respect to kiosk placement, tenant restrictions (type, location or exclusivity), sale of certain goods or services, and/or other use restrictions.

  • Assignment Amendments Waiver and Contract Complete 032620-FDX

  • COMPLETE AGREEMENT; AMENDMENTS This Agreement is the complete and exclusive agreement between the parties with respect to the subject matter contemplated thereby. No modifications to this Agreement shall be made or binding unless made in writing and signed by all parties to this Agreement.

  • Tax Indemnity Agreement The Tax Indemnity Agreement (Federal Express Corporation Trust No. N620FE), dated as of June 15, 1998, between the Lessee and the Owner Participant.

  • Closing Agreements Neither the Company nor any of its Subsidiaries will be required to include any item of income in, or exclude any item of deduction from, taxable income for any taxable period (or portion thereof) ending after the Effective Time as a result of any “closing agreement” described in Section 7121 of the Code (or any corresponding or similar provision of state, local or foreign Laws regarding Taxes) executed on or prior to the date of this Agreement.

  • Property Management Agreement The Property Management Agreement is in full force and effect and, to Borrower's Knowledge, there are no defaults thereunder by any party thereto and no event has occurred that, with the passage of time and/or the giving of notice would constitute a default thereunder.

  • Acquisition Agreements If the Equipment is subject to any Acquisition Agreement, Lessee, as part of this lease, transfers and assigns to Lessor all of its rights, but none of its obligations (except for Lessee's obligation to pay for the Equipment conditioned upon Lessee's acceptance in accordance with Paragraph 6), in and to the Acquisition Agreement, including but not limited to the right to take title to the Equipment. Lessee shall indemnify and hold Lessor harmless in accordance with Paragraph 19 from any liability resulting from any Acquisition Agreement as well as liabilities resulting from any Acquisition Agreement Lessor is required to enter into on behalf of Lessee or with Lessee for purposes of this lease.

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