Common use of Tax Increment Deficiency on TIF Bond Clause in Contracts

Tax Increment Deficiency on TIF Bond. A. Lender and/or Investor Purchased TIF Bond. If Redeveloper’s Lender or an Investor purchases the TIF Bond, any shortfall in the annual TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project Site, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.

Tax Increment Deficiency on TIF Bond. A. Lender X. Xxxxxx and/or Investor Purchased TIF Bond. If Redeveloper’s Lender or an Investor purchases the TIF Bond, any shortfall in the annual TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project SiteSite and New Building, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.

Tax Increment Deficiency on TIF Bond. A. Lender and/or Investor Purchased TIF Bond. If Redeveloper’s Lender or an Investor purchases the TIF BondBond “A”, any shortfall in the annual TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project SiteSite and New Building, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.

Tax Increment Deficiency on TIF Bond. A. Lender X. Xxxxxx and/or Investor Purchased TIF Bond. If Redeveloper’s 's Lender or an Investor purchases the TIF Bond, any shortfall in the annual TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project SiteSite and New Building, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.

Tax Increment Deficiency on TIF Bond. A. Lender and/or Investor Purchased TIF Bond. If Redeveloper’s Lender or an Investor purchases the TIF Bond, any shortfall in the annual TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project SiteSite and New Building, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.

Tax Increment Deficiency on TIF Bond. A. Lender and/or Investor Purchased TIF Bond. If Redeveloper’s Lender or an Investor purchases the TIF Bond, any shortfall deficiency in the annual TIF Tax Revenues from the Tax Increment Provision for required debt service on TIF Bond for any reason whatsoever, specifically including a decline in taxable valuation of the Project SiteRedeveloper Property and Private Improvements, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment the same for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.

Tax Increment Deficiency on TIF Bond. A. Lender X. Xxxxxx and/or Investor Purchased TIF Bond. If Redeveloper’s Lender or an Investor purchases the TIF Bond, any shortfall in the annual TIF Tax Revenues from the Tax Increment Provision for any reason whatsoever, specifically including a decline in taxable valuation of the Project Site, shall be borne entirely by the Redeveloper without recourse of any kind against the City. To the extent of any deficiency in annual TIF Tax Revenues from the Ad Valorem Tax Provision for required debt service on the TIF Bond, the Redeveloper agrees to pay the same as a deficiency tax payment upon written request of the City and shall pay a deficiency tax payment for each year that there exists a deficiency in such TIF Tax Revenues. If Redeveloper is required to pay any deficiency, the City shall reimburse all sums paid by said Redeveloper for such purposes if and when annual TIF Tax Revenues do become available from the Ad Valorem Provision to meet current debt service and reimburse Redeveloper for any deficiency payments.