Annual Service Charge Start Date means the earlier of Substantial Completion or the date that the Project or any portion thereof, receives a Certificate of Occupancy, and shall be the date upon which the Annual Service Charge begins to accrue, pro rata.
Annual Service Charge Start Date means, with respect to the Project or any portion thereof, including any Unit, the earlier of Substantial Completion or the date that the Project or any portion thereof, as applicable, including any Unit, receives a Certificate of Occupancy, and shall be the date upon which the Annual Service Charge begins to accrue. Applicable Law – shall mean all federal, State and local laws, ordinances, approvals, rules, regulations and requirements applicable thereto including, but not limited to, the Ordinance, the Redevelopment Law, the Exemption Law, relevant construction codes including construction codes governing access for people with disabilities, and such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder, including all applicable environmental laws, applicable federal and State labor standards and all applicable laws or regulations with respect to the payment of prevailing wages. Application – shall mean collectively, the applications, as supplemented, filed by the Urban Renewal Entity pursuant to N.J.S.A. 40A:20-8 with the Mayor of the City for a long-term tax exemption for the Project, attached hereto as Exhibit 2.
Annual Service Charge Start Date. The Annual Service Charge Start Date shall be the date of the issuance of the Certificate of Occupancy for the first residential unit within the Project or a Phase, as applicable. Applicable Law – All federal, State and local laws, ordinances, approvals, rules, regulations and requirements applicable thereto including, but not limited to, the Redevelopment Law and the Long Term Tax Exemption Law, as applicable, relevant construction codes including construction codes governing access for persons with disabilities, and such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder, including all applicable environmental laws, and applicable federal and State labor standards.
Examples of Annual Service Charge Start Date in a sentence
Each Owner agrees that payment of the Annual Service Charge shall be due and payable to the Township on the Annual Service Charge Payment Dates, commencing to accrue as of the Annual Service Charge Start Date.
Upon certification as required hereunder and upon the Annual Service Charge Start Date the Tax Assessor shall implement the exemption and continue to enforce that exemption without further certification by the Township Clerk until the expiration of the entitlement to exemption by the terms of this Financial Agreement or until the Tax Assessor has been duly notified by the Township Clerk that the exemption has been terminated.
In consideration of the exemption from taxation for the Improvements, including the Units, each Owner shall pay to the Township, as of the Annual Service Charge Start Date for any Unit the Annual Service Charge calculated in accordance with Schedule 1 hereto on each Annual Service Charge Payment Date.
More Definitions of Annual Service Charge Start Date
Annual Service Charge Start Date. The Annual Service Charge Start Date shall be the date that Substantial Completion has been achieved. Auditor’s Report – A complete financial statement outlining the financial status of the Project (for a period of time as indicated by context), which shall also include, among other things, a certification of Annual Gross Revenue for the Project and the Annual Service Charge due to the Township for each year that this Agreement is in effect. Certificate of Occupancy – New document, whether temporary or permanent, issued by the Township authorizing occupancy of a building, in whole or in part, pursuant to N.J.S.A. 52:27D-133. Default – Shall be a breach of or the failure of the Entity to perform any obligation imposed upon the Entity by the terms of this Agreement, or under the Law, beyond any applicable grace or cure periods. Default Notice – Shall be as defined in Section 12.02. Effective Date – The date of this Agreement. Entity - Shall have the meaning as set forth in the recitals hereof. Ground Lease – Shall be as defined in the Redevelopment Agreement. HMFA – The New Jersey Housing and Mortgage Finance Agency.
Annual Service Charge Start Date means, with respect to the Project or any portion thereof the earlier of Substantial Completion or the date that the Project or any portion thereof, as applicable, receives a Certificate of Occupancy, and shall be the date upon which the Annual Service Charge begins to accrue. Applicable Law – shall mean all federal, State and local laws, ordinances, approvals, rules, regulations and requirements applicable thereto including, but not limited to, the Ordinance, the Redevelopment Law, the Exemption Law, relevant construction codes including construction codes governing access for people with disabilities, and such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder, including all applicable environmental laws, applicable federal and State labor standards and all applicable laws or regulations with respect to the payment of prevailing wages. Application – shall mean collectively, the applications, as supplemented, filed by the Urban Renewal Entity pursuant to N.J.S.A. 40A:20-8 with the Mayor of the City for a long-term tax exemption for the Project, attached hereto as Exhibit 2.
Annual Service Charge Start Date. The Annual Service Charge Start Date shall be the date that Substantial Completion has been achieved.
Annual Service Charge Start Date means, with respect to the Project or any portion thereof, including any Unit, the earlier of Substantial Completion or the date that the Project or any portion thereof, as applicable, including any Unit, receives a Certificate of Occupancy, and shall be the date upon which the Annual Service Charge begins to accrue. Applicable Law – shall mean all federal, State and local laws, ordinances, approvals, rules, regulations and requirements applicable thereto that relates to or affects the Project, the Property or the performance by the Parties of their respective obligations under this Agreement, including, but not limited to, the Ordinance, the Redevelopment Law, the Exemption Law, relevant construction codes including construction codes governing access for people with disabilities, and such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder, including all applicable environmental laws, applicable federal and State labor standards and all applicable laws or regulations with respect to the payment of prevailing wages. Application – shall mean collectively, the applications, as supplemented, filed by the Urban Renewal Entity pursuant to N.J.S.A. 40A:20-8 with the Mayor of the City for a long-term tax exemption for the Project, attached hereto as Exhibit 2.
Annual Service Charge Start Date. The Annual Service Charge Start Date shall be the date of the Certificate of Occupancy for the first residential unit. Applicable Law – All federal, State and local laws, ordinances, approvals, rules, regulations and requirements applicable thereto including, but not limited to, the Local Redevelopment and Housing Law, the Long Term Tax Exemption Law, as applicable, relevant construction codes including construction codes governing access for persons with disabilities, and such zoning, sanitary, pollution and other environmental safety ordinances, laws and such rules and regulations thereunder, including all applicable environmental laws, applicable federal and State labor standards and all applicable laws or regulations with respect to the payment of prevailing wages. Auditor's Report - A complete financial statement outlining the financial status of the Project (for a period of time as indicated by context), which shall also include a certification of Total Project Cost and clear computation of Net Profit as provided in N.J.S.A. 40A:20-3(c). The contents of the Auditor's Report shall have been prepared in conformity with generally accepted accounting principles. The Auditor's Report shall be certified as to its conformance with such principles by a certified public accountant who is licensed to practice that profession in the State of New Jersey. Certificate of Occupancy - A Temporary or Permanent Certificate of Occupancy, as such term is defined in the New Jersey Administrative Code issued by the City as authorizing occupancy of a building, in whole or in part, pursuant to N.J.S.A. 52:27D-133. County – The County of Xxxxxx. Debt Service - the amount required to make annual payments of principal and interest or the equivalent thereof on any construction mortgage, permanent mortgage or other financing including returns on institutional equity financing and market rate related party debt for a project for a period equal to the term of the tax exemption granted by this Agreement. Default - A breach or the failure of either Party to perform any obligation imposed upon such Party by the terms of this Agreement, or under Applicable Law, beyond any applicable grace or cure periods after written notice of such failure.