Net FILOT Payment definition

Net FILOT Payment means the FILOT Payment net of the Infrastructure Credit.
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Net FILOT Payment means total annual payments of $9,474.00 for the first through tenth payments due under this Fee Agreement, and total annual payments of $8,287.00 for the eleventh through thirtieth payments due under this Fee Agreement and any subsequent year of this Fee Agreement, for those years for which a FILOT is due. It is anticipated that the first Net FILOT Payment due hereunder shall be the payment for property tax year 2022, due and payable to the County on or before January 15, 2023. Provided, the Net FILOT Payments shall be increased in any year in which the total capital investment in the Project as reflected on the applicable PT-300 filings (or successor forms) exceeds the Project Commitment, in proportion to the excess. For example, and by way of example only, if the total capital investment in the Project as of the last day of the 2027 tax year is 125% of the Project Commitment, then the Net FILOT Payment for such year shall be increased by 25%.
Sample 1
Net FILOT Payment means total annual payments of $ for the first through tenth payments due under this Fee Agreement, and total annual payments of $ for the eleventh through thirtieth payments due under this Fee Agreement and any subsequent year of this Fee Agreement, for those years for which a FILOT is due. It is anticipated that the first Net FILOT Payment due hereunder shall be the payment for property tax year 2019, due and payable to the County on or before January 15, 2020. Provided, the Net FILOT Payments shall be increased in any year in which the total capital investment in the Project as reflected on the applicable PT-300 filings (or successor forms) exceeds the Project Commitment, in proportion to the excess. For example, and by way of example only, if the total capital investment in the Project as of the last day of the 2022 tax year is 125% of the Project Commitment, then the Net FILOT Payment for such year shall be increased by 25%. [INSERT NET PAYMENTS AS PROPORTIONATE AMOUNT OF $1,000,000 PER YEAR FOR YEARS 1-10 AND $874,755 PER YER FOR YEARS 11-30. THE PROPORTIONATE AMOUNT SHALL BE BASED ON THE PROPORTION OF THE INVESTMENT LEVEL FOR EACH PROJECT SET FORTH IN THE INDUCEMENT RESOLUTION TO THE TOTAL INVESTMENTS FOR ALL PROJECTS SET FORTH IN THE INDUCEMENT RESOLUTION.]
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Examples of Net FILOT Payment in a sentence

  • Following receipt of the bill, the Sponsor shall timely remit the Net FILOT Payment to the County in accordance with applicable law.

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  • In years in which the Net FILOT Payment is lower than the Base FILOT Payment, an Infrastructure Credit shall be applied to the Base FILOT Payment and shall equal the difference between the Base FILOT Payment and the Net FILOT Payment for such year.

  • The amount of the Net FILOT Payment is based upon the assumption that the Project will generate74.5 MW of photovoltaic generation and will pay $2900 per MW generated.

  • The Net FILOT Payment that the Company or any Sponsor Affiliate shall be required to equal $216,050 during each year of the term of the Fee Agreement.

  • Power generation shall be measured as of the last day of the prior fiscal year for purposes of determining the Net FILOT Payment for each property tax year.

  • In no event shall the Net FILOT Payment equal less than $216,050194,445 (90% of the expected 216,050).

  • For example, and by way of example only, if the Project generates 81.95 MW of power, the Net FILOT Payment shall be increased by 10%.

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  • If the power generation of the Project is either lesser or greater than 74.5 MW, the Net FILOT Payment shall be adjusted by the same proportion subject to the floor established in the last sentence of this paragraph.

Related to Net FILOT Payment

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

  • Net Payment With respect to any Distribution Date on or prior to the Swap Contract Termination Date, an amount equal to the sum of (i) any Current Interest and Interest Carry Forward Amounts in respect of the Benefited Certificates, (ii) any Net Rate Carryover in respect of the Benefited Certificates, (iii) any Unpaid Realized Loss Amounts in respect of the Benefited Certificates and (iv) any Overcollateralization Deficiency Amount, in each case remaining unpaid (or in the case of Overcollateralization Deficiency Amount, remaining) following the distribution to the Benefited Certificates of Excess Cashflow and Credit Comeback Excess Cashflow pursuant to Section 4.04(c) of the Pooling and Servicing Agreement. With respect to any Distribution Date after the Swap Contract Termination Date, zero.

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

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

  • Interim Payment has the meaning specified in Section 10.1.

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

  • Earn-Out Payment has the meaning set forth in Section 2.5(a).

  • Adjustment Payment shall have the meaning specified in Section 3.09(a).

  • Structured settlement payment rights means rights to receive periodic payments under a structured settlement, whether from the structured settlement obligor or the annuity issuer, where:

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

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

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

  • Deferred Sales Charge Payment Dates means the dates specified for deferred sales fee installments under "Investment Summary--Fees and Expenses" in the Prospectus for the Trust.

  • Tax Payment Date means, with respect to any applicable Taxes, the date occurring 30 days prior to the date the same are due and payable.

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

  • 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.

  • Royalty Payment has the meaning set forth in Section 6.1.

  • Basic Rent Payment Date means the Delivery Date, and the numerically corresponding day in each calendar month thereafter during the Term, and if such day is not a Business Day, then the immediately preceding calendar day which is a Business Day.

  • Earnout Payments has the meaning set forth in Section 2.2(a).

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

  • Payment Amount as defined in Section 3.5.

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

  • Individual Settlement Payment means the amount payable from the Net

  • 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.