Examples of PIF Collection Agreement in a sentence
The Developer shall provide the PIF Collection Agreement to the Town and the Town shall have the right to review and approve the PIF Collection Agreement prior to its execution or amendment by the respective parties thereto in order to ensure that the Credit PIF revenues are being collected, remitted and applied as required pursuant to this Agreement.
The Developer shall engage a PIF Collection Agent to collect, disburse and account for the Credit PIF Revenues pursuant to the PIF Collection Agreement.
Approval shall be deemed to be given if the Town does not provide written comments to the PIF Collection Agreement or a proposed amendment thereto within 30 days of the Developer’s submittal thereof to the Town.
The Town shall not unreasonably withhold condition or delay such approval of the PIF Collection Agreement or any amendment thereto.
Developer will be solely responsible for the collection, disbursements, and accounting for the Add-On PIF Revenue pursuant to the PIF Collection Agreement; provided that the Town may suspend the payment of Pledged Revenue during those periods of time that the quarterly reports for the collection and remittance of the Add-On PIF are not provided to the Town Finance Director.
If the City objects in writing to any provisions of the PIF Collection Agreement or the parties are otherwise required to meet and confer regarding the provisions in the PIF Collection Agreement, the PIF Collection Agreement shall not be executed until the City approves the PIF Collection Agreement.
The District or Developer shall engage a PIF Collection Agent to collect, disburse, and account for the Credit PIF Revenue, Accommodations PIF Revenue, and the Add-On PIF Revenue pursuant to the PIF Collection Agreement.
Notwithstanding anything to the contrary in this Agreement, the maximum amount of Credit PIF Revenue that shall be collected pursuant to the Credit PIF Collection Agreement and pledged to the payment of the District Bonds or available to pay or reimburse Eligible Costs or Town Costs in accordance with Section 4.8 shall not exceed the Town Contribution Cap.
The District or Developer, as applicable, shall provide the PIF Collection Agreement and any amendments thereto to the City Attorney and the City shall have the right to review the PIF Collection Agreement prior to its execution or amendment by the respective parties thereto, solely in order to ensure that the PIF Revenue is being collected, remitted, and applied as required pursuant to this Agreement.
The City will have 30 days after receipt of such PIF Collection Agreement or any amendment thereto by the City Attorney to notify the Developer or the District in writing if it objects to any provisions set forth in such PIF Collection Agreement as not being in compliance with this Agreement (which shall be the sole grounds on which the City may object to the PIF Collection Agreement) setting forth its specific objections in such notice.