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 means any regularly scheduled payment required to be

Examples of City Payment in a sentence

• 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.

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

• 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.

• This is particularly true where attorneys for ChampionsWorld had previously objected during depositions when Defendants tried to pursue this line of inquiry.

More Definitions of City Payment

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

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

City Payment means, for each Payment Period in which WD has caused to Client to locate its Retail Sales Office in the City, the following amount: For all years commencing with the Effective Date and throughout the Term of this Agreement, an amount equal to fifty five percent (55%) of each dollar of Local Sales Tax Revenues attributable to Client operations in the City of Signal Hill during the term of this Agreement.

City Payment means, for each Fiscal Quarter in which Company has its Retail Sales Office located in the City, the following amount: (a) If the quarterly taxable sales attributable to City are less than $10 million, then the percentage is equal to zero (0); (b) If the quarterly taxable sales attributable to City are equal to or greater than $10 million but less than $15 million, then the percentage is equal to thirty-five percent (35%); (c) If the quarterly taxable sales attributable to City are equal to or greater than $15 million but less than $20 million, then the percentage is equal to fifty percent (50%); (d) If the quarterly taxable sales attributable to City are equal to or greater than $20 million, then the percentage is equal to sixty-five (65%). Example: Quarterly Sales City’s Position of Quarterly Sales Percentage Amount to be Rebated to the Company $5,000,000 $50,000 0% $0 $12,000,000 $120,000 35% $42,000 $18,000,000 $180,000 50% $90,000 $22,000,000 $220,000 65% $143,000 The Specified Amount due Company under this Agreement shall be paid by the City in arrears, within thirty (30) days after the issuance of the quarterly report by the SBE detailing and confirming that quarter’s City receipt and allocation. Payment to Company shall be based on cash received by City. Amounts accrued under the State “Triple Flip” (Described elsewhere in this agreement) will be payable upon actual receipt by City.

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

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.

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