Examples of Payment in lieu of taxes in a sentence
Notwithstanding the foregoing or any provision to the contraiy contained herein, no Payment in Lieu of Taxes shall be made with respect to the Phase Two Parcel in the event that the Phase Two Parcel is reconveyed to the City in accordance with Section 12.8 ofthe DRA.
Payments in Lieu of Taxes shall be deposited into the Special Allocation Fund and recorded into the Payment in Lieu of Taxes Account within the Special Allocation Fund.
The Tenant agrees to make payments in lieu of taxes on the Project for each year that the Project is exempt from ad valorem taxes and to pay as an Imposition hereunder taxes for any year in which the Project did not, or does not qualify, in accordance with the separate Agreement for Payment in Lieu of Taxes delivered concurrently with this Project Lease.
It is anticipated that the only ad valorem taxes and assessments that may be paid by the Lessee relating to the Leased Premises will be controlled by the Payment in Lieu of Taxes Agreement dated , 20 (the “PILOT Agreement”).
The Annual Utility Basis Revenue Requirements shall include the following components, each of which is described herein: • Direct Operation, Maintenance and Repair Costs; • Administrative and Indirect Operating Costs; • Payment in Lieu of Taxes (“PILOT”); • Depreciation Expense; • Return on Rate Base (expressed in dollars).