City Payment definition

City Payment means any scheduled payment required to be made by or on behalf of the City under an Exchange Agreement which is either fixed in amount or is determined according to a formula set forth in the Exchange Agreement.

City Payment means any scheduled payment required to be made by or on behalf of the City under a Derivative Product which is either fixed in amount or is determined according to a formula set forth in the Derivative Product.

City Payment or “City Payments” means the payment or payments by the City to the Company as described in Article VI hereof.

Examples of City Payment in a sentence

• The Company shall send invoices to the City for the aforementioned City Payment amounts to be paid pursuant to this Agreement.

• Within 60 days after the City receives a City Payment invoice, with appropriate documentation, the City shall send the Company a check for the applicable City Payment.

• Unless the City waives such Section 3.3 requirement in writing, failure of the Company to comply with this Section 3.3 shall release the City of its obligation to make any further City Payment otherwise required and shall allow the City to seek reimbursement for all City Payment made as of the date of non-compliance by the Company of this Section 3.3 in an amount equal to the City Payment(s) made to the Company for the year(s) during which such ad valorem property tax exemption applied.

• The Company may invoice the City annually for each City Payments Year 2 through Year 15 beginning on the 1st anniversary of the Company’s receipt of the Year 1 City Payment.

• Section 2 City Payment of Employer Contribution for CalPERS RetirementThe City shall pay the employer share of the CalPERS retirement contribution as actuarially determined by CalPERS for each fiscal year.

More Definitions of City Payment

City Payment means any regularly scheduled payment required to be

City Payment means the payment of the City described in Section 3.2.

City Payment means any payment (designated as such by a Parity Bond

City Payment means the sum of: (x) the portion of the City Payments Amount payable in respect of each Parcel, which shall be determined by multiplying the applicable amount set forth in clause (a) or clause (b) above, as applicable, times a fraction, the numerator of which is the number of square feet in the Parcel and the denominator of which is the total number of square feet in the 11-Acre Parcel or the 15-Acre Parcel, as applicable, and (y) in lease years 11 – 15, with respect to any vertical improvements on the Leased Parcel, an amount determined as follows:

City Payment means, for each Fiscal Quarter in which Company has its Retail Sales Office located in the City, the following amount: For all Fiscal Quarters commencing with the First Fiscal Quarter and throughout the Term of this Agreement, an amount equal to a percentage of the Local Sales Tax Revenues for the quarter, as follows:

City Payment means, with respect to a particular Fiscal Quarter within the Term, the sum total amount of City’s “Location Payment Obligation” (LPO), as defined in Section 3.1.23, for such Fiscal Quarter.

City Payment bears the same meaning as stated in the Economic Development Agreement, which is the remainder of: 70% of each dollar of Local Sales Tax Revenues attributable to Office Depot operations in the City of Signal Hill, minus any payment made to Office Depot under the 1996 OPA. Note that Section 3.2.2 of Economic Development Agreement provides for reductions in the City Payment to Office Depot if the Baseline Levels are not met. In such case, the Parties shall share Remainder Tax Revenue in accordance with the same shares as set forth in Section 3.2.