PIF Covenant definition

PIF Covenant shall have the meaning set forth in Section 9(e).

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PIF Covenant means a declaration of covenants by Developer imposing and implementing the Add-On PIF within the Property.

PIF Covenant the Declaration of Covenants Imposing and Implementing the Interquest Westside Public Improvements Fee made as of , 2017 by the Developer and recorded in the real property records of the County on , 2017 at reception number

Examples of PIF Covenant in a sentence

• Provided this Agreement is in effect, the City will authorize, grant and implement the Sales Tax Credit pursuant to the Sales Tax Credit Ordinance in order for the Credit PIF to be collected in accordance with the Credit PIF Covenant and this Agreement.

• The Primary PIF Recipient shall provide Purchaser with any and all information needed so that Purchaser may comply with the provisions of the PIF Covenant.

• The District shall have the right to audit the books and records of Employer, but only to the extent necessary to ensure compliance with this Agreement, the Credit PIF Covenant, and the Sales Tax Credit Ordinance.

• All such recorded agreements, restrictions, easements and other recorded instruments, including, the Declaration, the Design Guidelines, the Development Plan, the MHC LLLP Restrictions, the PIF Covenant and the RSF Covenant, shall be herein referred to as the “Title Restrictions.” Landlord represents that the Real Property is zoned for business park uses, including, without limitation, general office and call center use.

• Employer hereby specifically authorizes the District, City and any accountant or financial consultant designated by the District or City (collectively, the "Auditor") to audit its books and records with respect to Credit PIF revenues to determine compliance with this Agreement, the Sales Tax Credit Ordinance and the Credit PIF Covenant.

• The District shall have the right to enforce this Agreement, the Credit PIF Covenant, and the Sales Tax Credit Ordinance.

• Upon adoption of the Sales Tax Credit Ordinance and provided this Agreement is in effect, the Town will authorize, grant and implement the Sales Tax Credit pursuant to the Sales Tax Credit Ordinance in order for the Credit PIF to be collected for payment of the District Bonds and payment and reimbursement of Eligible Costs in accordance with the PIF Covenant and this Agreement.

• Such rebate shall be disbursed pursuant to the terms of Credit PIF Covenant and this Agreement.

• The PIF is in the amount of 1 % of such sales, until the termination of the PIF Covenant, or reduction of the PIF, subsequent to the date upon which all financings required under the PIF Covenant have been discharged or paid.

• The City shall have the right to audit the books and records of Employer, but only to the extent necessary to ensure compliance with this Agreement, the Credit PIF Covenant, and the Sales Tax Credit Ordinance.

More Definitions of PIF Covenant

PIF Covenant has the meaning assigned thereto in the Recitals hereof.

PIF Covenant means the Declaration of Covenants Imposing and Implementing the MW Retail Public Improvement Fee, as more particularly defined in the Indenture and the recitals hereto.

PIF Covenant means, collectively, (a) the Declaration of Covenants Imposing and Implementing Public Improvement Fee recorded September 19, 2012, in the real property records of El Paso County, Colorado at Reception Number 212109234, as supplemented by the Supplement to Declaration of Covenants Imposing and Implementing a Public Improvement Fee recorded April 3, 2018 in the real property records of El Paso County, Colorado at Reception Number 218037636 and amended by the Correction to Supplement to Declaration of Covenants Imposing and Implementing a Public Improvement Fee recorded March 3, 2021 in the real property records of El Paso County, Colorado at Reception Number 221041357, and (b) the Declaration of Covenants Imposing and Implementing a Public Improvement Fee recorded November 13, 2018, in the real property records of El Paso County, Colorado at Reception Number 218131694.

PIF Covenant. “PIF Revenue” If not otherwise specifically addressed in this Amendment, the Agreement is deemed amended to the extent necessary to give effect to the deletion of these terms where they appear and all references to the “Agreement” shall include the original Agreement as amended by this Amendment. The Agreement is hereby amended by adding the definitions of “Vectra Loan,” “Vectra Loan Agreement,” “Lender,” “Vectra Note,” “Custodial Agreement,” “Custodian,” and “Vectra Loan Documents,” to Section 2.0 of the Agreement, as each such term is defined in this Amendment. The following defined terms in Section 2.0 of the Agreement shall be amended and restated as provided below: