Examples of Exempt Period in a sentence
Issuer hereby agrees to use best faith efforts to obtain the issuance of an order from the Board of Tax Appeals approving tax abatement on the Bond Financed Portion of the Project for the Exempt Period such that 100% of the Bond Financed Portion of the Project is Exempt Property.
The City and the Company acknowledge that, prior to the Project being determined to be Exempt Property, the City must obtain on behalf of the Company an order from the Board of Tax Appeals approving tax abatement on the Project for the Exempt Period.
Company hereby represents that the Project is not included within the list of prohibited purposes listed in K.S.A. 79-250 and agrees that during the Exempt Period, the Project Site will not be used for any such purposes.
The Company covenants and agrees that, for each calendar year during the Exempt Period that the Project is Exempt Property, the Company will make Tax Payments to the City (or, if the City shall direct, to the County Treasurer).
During the Exempt Period, and so long as the Bonds are outstanding, the Issuer agrees to use its best efforts to cause the Bond Financed Portion of the Project to be and remain Exempt Property.