Years and Payment Percentages Sample Clauses

Years and Payment Percentages. For investments made prior to December 31, 2012, Year 1, for purposes of this paragraph, is 2013 and there is a 10-year payment percentage and correlative savings percentage schedule for such investments. For investments made in the period of 2013 through 2017, there is a 10-year payment percentage and correlative savings percentage schedule for all of the investments made in the Project during each calendar year. For such purposes, the calendar year following the calendar year in which the investment with respect to an asset is made is deemed to be Year 1 for that asset. That is to say, every new investment will receive a separate 10-year savings schedule for the sum that was invested during the calendar year preceding Year 1 for that asset. The 10-year savings schedule for each of such investments by year is as stated below. The Company shall pay payments in lieu of taxes on the items of property of the Project in amounts equal to the applicable percentages of the normal taxes on such property as described on the following Payment Schedule: THE RIGHTS AND INTEREST OF THE DUNWOODY DEVELOPMENT AUTHORITY IN THE PROJECT LEASED HEREUNDER, THIS LEASE AGREEMENT AND CERTAIN REVENUES AND RECEIPTS DERIVED HEREUNDER, EXCEPT FOR CERTAIN UNASSIGNED RIGHTS, AS DEFINED HEREIN, HAVE BEEN ASSIGNED AND PLEDGED AS SECURITY FOR THE $34,000,000 MAXIMUM PRINCIPAL AMOUNT DUNWOODY DEVELOPMENT AUTHORITY TAXABLE REVENUE BOND (RB 66 PCE, LLC PROJECT), SERIES 2012, AS PROVIDED IN A DEED TO SECURE DEBT, ASSIGNMENT OF RENTS AND LEASES AND SECURITY AGREEMENT, OF EVEN DATE HEREWITH, FROM THE DUNWOODY DEVELOPMENT AUTHORITY TO RB 66 PCE, LLC AND SUCCESSOR HOLDERS OF SUCH BOND. Parties and Recitals ...................................................................................................................1 ARTICLE I DEFINITIONS AND OTHER PROVISIONS OF GENERAL APPLICATION...............................................................................................2 Section 1.1. Definitions .......................................................................................................2 Section 1.2. Construction of Certain Terms........................................................................7 Section 1.3. Table of Contents; Titles and Headings...........................................................7 Section 1.4. Contents of Certificates or Opinions...............................................................7

Years and Payment Percentages. For investments made prior to December 31, 2012, Year 1, for purposes of this paragraph, is 2013 and there is a 10-year payment percentage and correlative savings percentage schedule for such investments. For investments made in the period of 2013 through 2017, there is a 10-year payment percentage and