Net Taxes definition

Net Taxes means Gross Taxes minus amounts set aside to pay Administrative Expenses. “Nominee” shall mean the nominee of the Depository, which may be the Depository, as

Net Taxes means the amount of all Gross Taxes minus the Administrative Expense Requirement.

Net Taxes means Special Taxes less Administrative Expenses.

Examples of Net Taxes in a sentence

• The Bonds shall be substantially in the form described in, shall be issued and secured under the provisions of, and shall be payable from the Net Taxes as provided in the Indenture, the Preliminary Official Statement (as hereinafter defined), and the Xxxxx-Xxxx Community Facilities Act of 1982, as amended (Section 53311 et seq.

• The District will not mortgage or otherwise encumber, pledge or place any charge upon any of the Special Taxes except as provided in this Indenture, and will not issue any obligation or security having a lien, charge, pledge or encumbrance upon the Net Taxes senior or superior to the Bonds or Parity Bonds or on a parity with the Bonds, other than Parity Bonds.

• Except for the Net Taxes, no other taxes are pledged to the payment of the Bonds.

• The Bonds and any Parity Bonds shall be and are limited obligations of the District and shall be payable as to the principal thereof and interest thereon and any premiums upon the redemption thereof solely from the Net Taxes and the other amounts in the Special Tax Fund (other than amounts in the Administrative Expense Account of the Special Tax Fund).

• In furtherance of the foregoing, the District shall not approve any reduction of the Assigned Special Taxes, as provided in the RMA which would prohibit the District from levying the Special Taxes in any Fiscal Year at a level that would generate Net Taxes at least equal to 110% of the annual debt service in that Fiscal Year for the Bonds and any Additional Bonds expected to be issued.

More Definitions of Net Taxes

Net Taxes means Gross Taxes minus the Administrative Expenses in an amount not to exceed the Administrative Expenses Cap.

Net Taxes means Gross Taxes minus amounts set aside to pay Administrative Expenses. “Ordinance” means Ordinance No. 3481 adopted by the legislative body of the District on February 25, 2020, as amended from time to time.

Net Taxes means Gross Taxes minus amounts set aside to pay Administrative Expenses.

Net Taxes. Borrower agrees to pay all amounts owing under the Transaction Documents free and clear of and without deduction for any present or future Taxes and if Borrower is prevented by operation of law or otherwise from paying any amounts owing under the Transaction Documents without deduction, then the amount to be paid under the Transaction Documents shall be increased to the amount Cat Financial would have received had such payments been made without such deduction. Upon Cat Financial’s request, Borrower shall provide the original or a certified copy of evidence of the payment of Taxes by it (including but not limited to the payment of withholding tax) or, if no Taxes have been paid, a certificate from the appropriate taxing authority or an opinion of counsel acceptable to Cat Financial stating that no Taxes are payable.

Net Taxes means Gross Taxes minus amounts permitted to be set aside prior to the payment of the principal of and interest on the Bonds and Parity Bonds in order to pay Administrative Expenses.

Net Taxes means Gross Taxes minus amounts set aside to pay the Administrative Expense Requirement.

Net Taxes means Gross Taxes minus the Administrative Expenses Cap.