Abatement Period definition

Abatement Period means the period during which all or a portion of the value of real property or tangible personal property that is the subject of a tax abatement agreement is exempt from taxation.

Abatement Period means the period of time defined or set out in the citation for correction of a violation.

Abatement Period means the period that begins on the Commencement Date and ends on the day immediately prior to the 4-month anniversary of the Commencement Date. During the Abatement Period, Tenant shall pay to Landlord: (i) Tenant’s Share of Janitorial Expenses; (ii) utilities as set forth in Section 6; and (iii) all other amounts due Landlord with the exception of Fixed Rent.

Examples of Abatement Period in a sentence

• This Agreement shall terminate, and the Project shall become subject to general ad valorem taxation, at the expiration of the Abatement Period, and otherwise if the Bonds are redeemed and paid in full pursuant to Section of the Indenture on or before , 203 , then upon the redemption of the Bonds.

• Developer hereby agrees that Developer shall, during the Abatement Period, use the Visit Overland Park Housing Service for booking hotel room nights for tournaments and other events at the Project as required in Section 7.04(f) of the Development Agreement, which obligation shall be passed through to the third party tournament directors that Developer works with for the Project.

• If and to the extent that the Bonds are not issued until January 1, 2024 or a date thereafter, the parties agree that this Agreement shall be modified to change all of the relevant dates herein which will be affected by the modified Abatement Period.

• Additionally, the parties hereby understand and agree that all of the dates set forth herein assume and are predicated upon the Bonds being issued prior to December 31, 2023 and that the Abatement Period shall commence by January 1, 2024.

• However, if and to the extent that Developer shall thereafter timely pay the then-current PILOT payment (and provided that Developer has fully paid one hundred percent [100%] of the Ad Valorem Taxes that would otherwise be due for the Project for each of the applicable taxable years for which Developer failed to timely pay such PILOT), then the abatements shall thereafter be reinstated for the remainder of the Abatement Period, subject always to the terms and conditions of this Section.

More Definitions of Abatement Period

Abatement Period has the meaning set forth in section 3.03 below.

Abatement Period means that time span between the official notification to a property owner of the re- quirement to cease, alter, modify, decrease or remove any building, structure or use that is nonconforming or illegal, and the final date given by which the property owner shall make such change. (Ord. 1971 § 2, 2005)

Abatement Period means the ten-year period described in Paragraph IV(B)(1) of this Agreement during which the Abatement will apply.

Abatement Period shall have the meaning as set forth in Section 5.1.2.

Abatement Period means the period during which a portion of the increase in assessed value of real property or tangible personal property is exempt from taxation in accordance with a Tax Abatement Agreement.

Abatement Period has the meaning ascribed to it in Section 4 of this Agreement.

Abatement Period means the 14-day period, beginning upon service of a notice of violation, within which abatement by a responsible person is required to be completed.