Examples of Exempt Period in a sentence
Upon delivery of written notice (“Exemption Notice”) to the Depository Institutions at least two years prior to the beginning of the Exempt Period (as defined below), the Broker-Dealers may during the five year period prior to the expiration of the term of this Agreement as determined pursuant to Section 14(a) (such five year period, the “Exempt Period”) establish new Fixed Rate Obligation Amounts (the “Exempt Fixed Rate Obligation Amounts”) that comply with the requirements set forth in Section 5.
The Company acknowledges and agrees that the Tax Payment, the Exempt Period and the other terms of the tax abatement granted by the City with respect to such other projects may be more favorable than the terms provided for in this Agreement.
Each Exempt Period shall commence upon receipt by ABL and the Underwriting Manager of notice from the Board that the Board has determined (after consultation with the Underwriting Committee) that the Company’s resources are insufficient to underwrite Covered Contracts.
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).
The Company covenants and agrees that, for each calendar year during the Exempt Period that the Bond Financed Portion of the Project is Exempt Property, the Company will make a Tax Payment in lieu of ad valorem taxes to the Issuer.