Examples of Exempted Property in a sentence
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For the avoidance of doubt, “Substantial Portion” means 20% or more of the Guarantor’s assets, or a portion which, although less than 20% of the Guarantor’s assets, the beneficiary reasonably considers to have a material impact on the Guarantor’s assets, excluding the Exempted Property.
If for any reason the Exempted Property shall become or be considered an asset of the Agency, then the Agency shall dispose of the Exempted Property as expeditiously as possible and in a manner aimed at maximizing value in accordance with ABX1 26.
Those restrictions or covenants shall prohibit any owner of the real property to which that agreement and its CRA real property tax exemption apply (the "CRA Exempted Property") from consenting to, proposing or petitioning for the transfer of any of that CRA Exempted Property from the jurisdiction of the School District to the jurisdiction of any other school district without the prior written consent of the School District.
Those restrictions or covenants shall provide that they are binding on the owner and any subsequent owners of the CRA Exempted Property, and shall further provide that they are enforceable by the School District as a third party beneficiary against the owner and any subsequent owner.
Property to be Exempted: Property Address (including unit address if applicable): Legal Description: Lot Block Plan Property Owner Information2 Full Name(s) of the Property Owner(s)*: Property Owner(s) Mailing Address*: City*: Province*: Postal Code*: Phone 1*: ( Type) Phone 2: (Type) Phone 3: ( Type) Email*: Project Information1.
Such amount shall be calculated by multiplying the assessed value of the Future Exempted Property by one hundred percent (100%) of the District effective tax rate for the applicable tax year and adjusting for any Service Payments not actually paid by property owners or received by the Township in accordance with subsection (e) below.
The parties acknowledge that the Exempted Property is subject to an existing real property exemption pursuant to Ohio Revised Code Section 5709.74 and that this exemption will not generate any Service Payments until such pre-existing exemption expires or is otherwise terminated.
If for any reason the Exempted Property is deemed not to be a government use property in accordance with ABX1 26, and shall become or be considered an asset of the Successor Agency, then the Successor Agency shall add the Exempt Property to the long range property management plan to be disposed of with the other Pledged Property.
This Board of Commissioners further hereby authorizes and directs the President of the Board of Commissioners, the County Administrator, the County’s Economic Development Director, or other appropriate officers of the County,to sign and execute all documents and make such arrangements as are necessary and proper for collection of said Service Payments from the Owners of real property located in the Exempted Property, which are to be deposited into the TIF Fund.