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.

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.
Notwithstanding anything to the contrary contained in this Fiscal Agent Agreement, the City will not be required to advance any money derived from any source of income other than the Net Taxes for the payment of the interest on or the principal of the Bonds, or for the performance of any covenants contained herein.
Nothing herein shall prevent the District from issuing or incurring indebtedness which is payable from a pledge of Net Taxes which is subordinate in all respects to the pledge of Net Taxes to repay the Bonds and the Parity Bonds.

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 up to the Administrative Expenses Cap.

Net Taxes means the taxes charged and payable for a tax year. In the case of a school district or a joint vocational school district, the net taxes of a prior year equal the taxes charged and payable for that year after the reductions required under section 319.301 of the Revised Code, including any adjustment required for the district under division (E) of that section and paragraph (E) or (F) of this rule. In the case of a tax levy for which an estimated tax reduction factor is used pursuant to division (H) of section 319.301 of the Revised Code and paragraph (A) of rule 5703-25-48 of the Administrative Code, the net taxes of a prior year excludes the amount of taxes attributable to any portion of the tax reduction factors used in that year to adjust for an overpayment or underpayment of taxes in the second preceding year caused by the use of such estimated factors.

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.