FILOT Payment definition

FILOT Payment or “FILOT Payments” shall mean the FILOT payments to be made by the Company or any other Co-Investor with respect to the Project, whether made as Negotiated FILOT Payments pursuant to Section 5.01 hereof or as FILOT payments made pursuant to the Multi-County Park Act.
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FILOT Payment or “FILOT Payments” shall mean the FILOT payments to be made by each Company and each other Co-Investor with respect to its respective portion of the Project, whether made as Negotiated FILOT Payments pursuant to Section 5.01 hereof or as FILOT payments made pursuant to the Multi-County Park Act.
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FILOT Payment means each payment in lieu of taxes which the Company is obligated to pay to the County for the Project.
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Examples of FILOT Payment in a sentence

  • Unless sooner terminated pursuant to the terms and provisions herein contained, this Agreement shall be and remain in full force and effect for a term commencing on the date on which the Company executes this Agreement, and ending at midnight on the last day of the property tax year in which the last Negotiated FILOT Payment is due hereunder.

  • Any payment made under the foregoing sentence shall be due at the time the corresponding FILOT Payment is due, shall be treated as a FILOT Payment under this Fee Agreement and shall be subject to statutory interest if not paid when due pursuant to Section 12-54-25, Code of Law of South Carolina 1976, as amended, as allowed under the FILOT Act.

  • Prior to the due date of the first FILOT Payment hereunder, the Sponsor shall provide an irrevocable surety or performance bond or irrevocable letter of credit to secure the performance of its obligations hereunder, including but not limited to any payment obligations that may arise pursuant to Sections 4.1(d), 4.1(e), and 4.

  • In the event that a final order of a court of competent jurisdiction or an agreement of the parties determines that the calculation of the minimum FILOT Payment applicable to this transaction is to be other than by the procedure herein, the payment shall be reset at the minimum permitted level so determined, but never lower than the level prescribed herein.

  • Notwithstanding anything contained in this Fee Agreement to the contrary, and except as expressly required by law, the Sponsor is not required to make a FILOT Payment in addition to a regular ad valorem property tax payment in the same year with respect to the same piece of Economic Development Property.

  • In accordance with the Negotiated FILOT Act, the parties hereby agree, during the Term hereof, that there shall be due annually with respect to that portion of the Project constituting Negotiated FILOT Property, whether owned by the Company or by any other Sponsor or Sponsor Affiliate, a Negotiated FILOT Payment calculated as set forth in this Section, at the places, in the manner and subject to the penalty assessments prescribed by the County or the Department of Revenue for ad valorem taxes.

  • The Sponsor is not required to make a FILOT Payment on Economic Development Property in cases where, absent this Fee Agreement, ad valorem property taxes would otherwise not be due on such property.

  • TIF Bond Proceeds shall be used for and expended in the following priority: FIRST PRIORITY: Reimburse the City for the cost of issuing the TIF Bond, including but not limited to bond counsel fees, fiscal advisory fees, placement fees, capitalized interest, and reserves.

  • It is anticipated, but not required, that the initial Negotiated FILOT Payment, which shall be due under current Code requirements on the January 15 following the year in which the County adds the initial Negotiated FILOT Property to its tax rolls, will be due on January 15, 2017.

  • The total amount that the Sponsor is entitled to deduct and that the County will deduct from the FILOT Payment, is: $ .


More Definitions of FILOT Payment

FILOT Payment or “FILOT Payments” shall mean the FILOT due pursuant to Section
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Related to FILOT Payment

  • FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.

  • Net Payment means the amount the Issuer or any paying agent pays the Holder after deducting or withholding an amount for or on account of any present or future tax, assessment or other governmental charge imposed with respect to that payment by a taxing authority (including any withholding or deduction attributable to additional amounts payable pursuant to this Section).

  • Delta Payment means as it is described in this Agreement.

  • Debit Payment means a particular transaction where a debit is made.

  • Next Payment means, in respect of each Next Payment Date, the greater of (i) the amount of any payments due to be made by Party A under Section 2(a) on such Next Payment Date less any payments due to be made by Party B under Section 2(a) on such Next Payment Date (in each case, after giving effect to any applicable netting under Section 2(c)) and (ii) zero.

  • Interim Payment has the meaning specified in Section 10.1.

  • Installment Payment has the meaning ascribed to it in Section 2.02(a).

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Upfront Payment has the meaning set forth in Section 4.1.

  • Reimbursement Payment shall have the meaning given to that term in Subparagraph 2.02(c).

  • Earnout Payment has the meaning set forth in Section 2.3(b).

  • Settlement Payment means the transfer, or contractual undertaking (including by automated clearing house transaction) to effect a transfer, of cash or other property to effect a Settlement.

  • Adjustment Payment means, in respect of any Security, the payment (if any) determined by the Determination Agent as is required in order to reduce or eliminate, to the extent reasonably practicable, any transfer of economic value to or from the Issuer as a result of the replacement of the Index by the Alternative Pre-nominated Index. The Determination Agent may determine that the Adjustment Payment is zero.

  • AHYDO Payment means any mandatory prepayment or redemption pursuant to the terms of any Indebtedness that is intended or designed to cause such Indebtedness not to be treated as an “applicable high yield discount obligation” within the meaning of Section 163(i) of the Code.

  • Installment Payment Date means the date on which an installment payment of an assessment is payable.

  • REIT Payment has the meaning set forth in Section 15.12 hereof.

  • Installment Payments shall have the meaning set forth in Section 5(b)(ii).

  • Co-payment means a relatively small amount of money paid by the insured person towards the cost of each day in a private hospital per episode of care, with Latrobe paying the rest of the cost.

  • Earn-Out Payment has the meaning set forth in Section 2.07(a)(i).

  • Agreement Payment means a Payment paid or payable pursuant to this Agreement.

  • LWDA PAGA Payment means the 75% of the PAGA Penalties paid to the LWDA under Labor Code section 2699, subd. (i).

  • Prompt Payment means a Payment within the time periods applicable pursuant to Sections 504.3 through 504.5 of this Exhibit in order for NYSERDA not to be liable for interest pursuant to Section 504.6.

  • Quarterly Payment Date means the last Business Day of each March, June, September and December.

  • First Payment Date shall have the meaning set forth in Section 5(b)(ii).

  • Reduced payment means a payment that is for less than the amount agreed upon in a subcontract in accordance with its terms and conditions, for supplies and services for which the Government has paid the prime contractor.

  • AHYDO Catch-Up Payment means any payment with respect to any obligations of the Borrower or any Restricted Subsidiary, in each case to avoid the application of Section 163(e)(5) of the Code thereto.