PIF Revenue definition

PIF Revenue. (definition reserved for future use).

PIF Revenue means, collectively, the revenue derived from the imposition of the Add- On PIF and the Credit PIF in accordance with the PIF Covenants and this Agreement.

PIF Revenue means all revenues resulting from imposition of the PIF pursuant to the Declaration of Covenants Imposing and Implementing the HM District No. 2 Public Improvement Fee made by DIBC, as Declarant (the “PIF Covenant”), including all late fees and penalties payable in accordance with the PIF Covenant, net of costs of collection. PIF Sales means, collectively, Retail Sales and Lodging Sales. Pursuant to the PIF Covenant, the Declarant has agreed to impose a public improvement fee of 3% on all PIF Sales within the PIF Property.

Examples of PIF Revenue in a sentence

• 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.

• Except as hereinafter provided, the Sales Tax Credit shall terminate upon the earlier of (a) payment in full or defeasance of all outstanding District Bonds, (b) the aggregate Sales Tax Credit granted by the Town to offset the Credit PIF Revenue imposed and collected by the Credit PIF Collection Agent equals the Town Contribution Cap, or (c) December 31, 2042.

• The foregoing shall not prohibit the residential and commercial Districts from sharing the costs of Public Improvements in compliance with the provisions of this Service Plan and applicable law, provided, however, that the Town and Districts intend that no PIF Revenue (defined below) shall be used within residential district(s) and shall be utilized solely within and for the benefit of the commercial district(s).

• Upon satisfaction of the Hotel Milestone and without need for additional notice hereunder, all Credit PIF Revenue collected since the Effective Date and not already used to reimburse the Developer or District for Eligible Costs or the Town for Town Costs pursuant to Section 4.8 shall be pledged to the repayment of the District Bonds and the District may issue District Bonds payable in whole or in part from Credit PIF Revenue.

• Composition of Stakeholder Relationship CommitteeMembersDesignationCategoryShri Dhirajlal D.

• To the extent that any PIF Revenue is generated prior to the issuance of any District Bonds, all PIF Revenue shall be remitted to the Escrow Agent.

• With respect to Credit PIF Revenue payments to be made by Retail Fee Obligors, the date on which the corresponding Sales Tax amount is due and payable to the City.

• The District will use its best efforts to use any Remaining Add- On PIF Revenue as District Operating Revenue, unless prohibited from doing so by the District Bond Documents.

• 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.

• 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.

More Definitions of PIF Revenue

PIF Revenue means all revenue resulting from the PIF, including all late fees and penalties payable in accordance with the PIF Covenant.