Option to Terminate means, Applicant’s written notice to the District that (i) Applicant has determined that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period, and (ii) Applicant has elected to unilaterally terminate this Agreement Applicant’s election of an Option to Terminate shall not require Applicant to pay any penalty or further liability consistent with Section 7.1.
Option to Terminate means, Applicant’s written notice to the District that (i) Applicant has determined that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period, and (ii) Applicant has elected to unilaterally terminate this Agreement. Applicant’s election of an Option to Terminate shall not require Applicant to pay any penalty or further liability consistent with Section 7.1.
Option to Terminate means the options granted to Applicant in paragraphs (A) and (B) of this Section 4.11.
Examples of Option to Terminate in a sentence
Dell will promptly refund any prepaid fees for the APEX Service that will not be provided as a result of the termination by You under Clause 3.2.A (Option to Terminate).
Dell will promptly refund any prepaid fees for the APEX Service or Related Services that will not be provided as a result of the termination by Distributor under Clause 3.2.A (Option to Terminate).
Dell will promptly refund any prepaid fees for the APEX Service or Related Services that will not be provided as a result of termination by Reseller under Clause 3.2.A (Option to Terminate).
Dell will promptly refund any prepaid fees for the APEX Service that will not be provided as a result of termination by You under Clause 3.2.A – Part A (Option to Terminate).
Such failure to comply shall constitute breach of the Agreement pursuant to Section 21 (City’s Option to Terminate).
More Definitions of Option to Terminate
Option to Terminate means Applicant’s written notice to the District which: (i) in the event that Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period notifies the District of Applicant’s unilateral determination to terminate this Agreement; or, (ii) with respect to each Tax Year of the Tax Limitation Period beginning after the first Tax Year of the Tax Limitation Period, where the sum of the maintenance and operations ad valorem taxes paid by the Applicant to the District for such Tax Year, plus the sum of all payments otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement with respect to such Tax Year, exceed the amount of the maintenance and operations ad valorem taxes that the Applicant would have paid to the District for such Tax Year (determined by using the District’s actual maintenance and operations tax rate for such Tax Year) if the Parties had not entered into this Agreement. The Applicant may exercise the Subsection
Option to Terminate means: A. Applicant’s written notice to the District that (i) Applicant has determined that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period, and (ii) Applicant has elected to unilaterally terminate this Agreement; and B. In the event that, for any Tax Year of the Tax Limitation Period beginning with the second Tax Year of the Tax Limitation Period, (i) the sum of the maintenance and operations ad valorem taxes paid by the Applicant to the District for such Tax Year, plus the sum of all payments otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement with respect to such Tax Year, exceeds (ii) the amount of the maintenance and operations ad valorem taxes that the Applicant would have paid to the District for such Tax Year (determined by using the District’s actual maintenance and operations tax rate for such Tax Year) if the Parties had not entered into this Agreement (an “Agreement Excess Payment”), then the Applicant shall have the option to terminate this Agreement. The Applicant may exercise such option to terminate this Agreement by notifying the District of its election in writing not later than the July 31 of the year following the Tax Year with respect to which the Agreement Excess Payment occurred. Any termination of this Agreement under this subparagraph B. shall be effective immediately prior to the second Tax Year next following the Tax Year in which the Agreement Excess Payment occurred. The calculation and comparison of the amounts described in clauses (i) and (ii) of the first sentence of this subparagraph B. shall be included in all calculations made pursuant to Article IV of this Agreement. Applicant shall pay to the District any payments accrued and not yet paid under Articles IV, V, or VI of this Agreement no later than thirty (30) days after Applicant delivers its termination notice.
Option to Terminate means Applicant’s written notice to the District which: (i) in the event that Applicant determines that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period notifies the District of Applicant’s unilateral determination to terminate this Agreement and in such event Applicant shall not have liability for any Supplemental Payments for any calendar year after the year in which an option to terminate under this subsection (i) is exercised; or, (ii) with respect to each Tax Year of the Tax Limitation Period beginning after the first Tax Year of the Tax Limitation Period, where the sum of the maintenance and operations ad valorem taxes paid by the Applicant to the District for such Tax Year, plus the sum of all payments otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement with respect to such Tax Year (determined by using the District’s actual maintenance and operations tax rate for such Tax Year) if the parties had not entered into this Agreement. The Applicant may exercise the Subsection (ii) Option to Terminate this Agreement by notifying the District of its election in writing not later than July 31 of the year following the Tax Year where the payment otherwise due exceeded the amount of taxes that Applicant would have paid had it not entered into the Agreement. Any termination of this Agreement under Subsection (ii) of this provision shall be effective immediately prior to the second Tax Year next following the Tax Year in which notice is given.
Option to Terminate shall have the meaning ascribed to it in Clause 9.16;
Option to Terminate means, Applicant’s written notice to the District that (i) Applicant has determined that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period and has therefore elected to unilaterally terminate this Agreement, or (ii) Applicant has elected to terminate this Agreement because, with respect to any Tax Year of the Tax Limitation Period beginning after the first Tax Year of the Tax Limitation Period, the Cumulative Payment Amount for such Tax Year was reduced and carried forward pursuant to Section 4.10 or Section 6.3. The Applicant may Terminate this Agreement pursuant to Section (i) by notifying District of its election in writing prior to completing the Qualified Investment. The Applicant may exercise the Subsection (ii) option to terminate this Agreement by notifying the District of its election in writing not later than the July 31 of the year following the Tax Year with respect to which payments are reduced and carried forward pursuant toSection 4.10 or Section 6.3. A termination of this Agreement pursuant to this paragraph shall be without penalty or further liability consistent with Section 7.1. Applicant’s election of an Option to Terminate shall not require Applicant to pay any penalty or further liability consistent with Section 7.1.
Option to Terminate means, in the event that the Applicant shall fail to make the Qualified Investment during the Qualifying Time Period, the Applicant may Terminate this Agreement without penalty or further liability consistent with Section 7.1.
Option to Terminate means, Applicant’s written notice to the District that either (i)(A) Applicant has determined that it will not commence or complete construction of the Applicant’s Qualified Investment prior to the beginning of the Tax Limitation Period, or (B) with respect to each Tax Year of the Tax Limitation Period beginning after the first Tax Year of the Tax Limitation Period, if (x) the sum of the maintenance and operations ad valorem taxes paid by the Applicant to the District for such Tax Year, plus the sum of all payments otherwise due from the Applicant to the District under Articles IV, V, and VI of this Agreement with respect to such Tax Year, exceed (y) the amount of the maintenance and operations ad valorem taxes that the Applicant would have paid to the District for such Tax Year (determined by using the District’s actual maintenance and operations tax rate for such Tax Year) if the Parties had not entered into this Agreement, and (ii) Applicant has elected to unilaterally terminate this Agreement Applicant’s election of an Option to Terminate shall not require Applicant to pay any penalty or further liability consistent with Section 7.1. The Applicant may exercise the Option to Terminate in clause (i)(A) effective immediately upon giving such notice and in clause (i)(B) by giving such notice not later than the July 31 of the year following the Tax Year in which the excess giving rise to such option occurred, and such termination shall be effective immediately prior to the Tax Year next following the Tax Year in which the excess giving rise to such option occurred.