PIF Revenue definition

PIF Revenue. (definition reserved for future use).
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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.
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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.
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Examples of PIF Revenue in a sentence

  • 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.

  • 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 Developer shall engage the one or more PIF Collection Agent(s) to collect, disburse, and account for the Add-On PIF Revenue and Credit PIF Revenue pursuant to one or more mutually acceptable PIF Collection Agreement(s).

  • Further, notwithstanding anything to the contrary in this Agreement, no Credit PIF Revenue shall be used to pay for or reimburse Restricted Grocery Store Costs, and the District Bond Documents shall contain such prohibition.

  • 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 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.

  • 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.

  • Developer agrees to impose the Add-On PIF and Credit PIF and to irrevocably assign the Pledged PIF Revenue to the District, through and until the payment in full of the District Bonds contemplated hereunder.

  • 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.

  • Prior to the issuance of any District Bonds, the Developer or the District agrees to cause all Add-On PIF Revenue and Credit PIF Revenue to be remitted to the Escrow Agent in accordance with Section 4.7. Upon the issuance of any District Bonds, the District agrees to pledge the Pledged PIF Revenue exclusively to the District Bonds until the District Bonds are paid in full or defeased.

Related to PIF Revenue

  • TIF Revenues means incremental ad valorem taxes generated by the Project which are allocated to and paid to the Authority pursuant to the Act.

  • Net Revenue means an entity’s total revenue less its operating expenses, interest paid, depreciation, and taxes. “Net Revenue” is synonymous with “Profit.”

  • Gross Revenue means all of the earnings and revenues received by the RECIPIENT from the maintenance and operation of the Utility and all earnings from the investment of money on deposit in the Loan Fund, except (i) Utility Local Improvement Districts (ULID) Assessments, (ii) government grants, (iii) RECIPIENT taxes, (iv) principal proceeds of bonds and other obligations, or (v) earnings or proceeds (A) from any investments in a trust, Defeasance, or escrow fund created to Defease or refund Utility obligations or (B) in an obligation redemption fund or account other than the Loan Fund until commingled with other earnings and revenues of the Utility or (C) held in a special account for the purpose of paying a rebate to the United States Government under the Internal Revenue Code.

  • Annual Revenue means the Company’s or a business unit’s net sales for the Fiscal Year, determined in accordance with generally accepted accounting principles; provided, however, that prior to the Fiscal Year, the Committee shall determine whether any significant item(s) shall be excluded or included from the calculation of Annual Revenue with respect to one or more Participants.

  • Department of Revenue means the Department of Revenue of

  • Tax Revenues means the Personal Income Taxes and such other revenues, including Alternative Revenues (but excluding Building Aid), as the Authority may derive directly from the State from taxes imposed by the City or the State and collected by the State.

  • Net Revenues means the difference between: