PILOT Agreement definition

PILOT Agreement means the Agreement for Payments in Lieu of Ad Valorem Taxes entered into by and among the Board, the Company, the City and the County.

PILOT Agreement means the Payment in Lieu of Taxes Agreement dated as of December 1, 2019.

PILOT Agreement means a payment-in-lieu of tax agreement entered into between the Borrower or a Restricted Subsidiary and a Governmental Authority.

Examples of PILOT Agreement in a sentence

• The Authority contemplates that it will provide financial assistance (the “Financial Assistance”) to the Company in the form of (a) a sales and use tax exemption for purchases and rentals related to the Project; (b) mortgage recording tax exemptions(s) related to financings undertaken by the Company to construct the Facility; and (c) a partial real property tax abatement structured through a PILOT Agreement.

• Pursuant to N.J.S.A. 40A:21-1 et seq., for a period of five (5) years following the completion of the Project, and so long as the PILOT Agreement remains in full force and effect, the full value of the new construction shall be exempt from real estate taxes.

• This amount shall be based upon the taxable assessment of the property, as shown on the most recently- completed assessment roll adopted by the City prior to the execution of the PILOT Agreement, multiplied by the tax rate(s) upon which real property taxes are assessed in each year by or for each taxing jurisdiction.

• Failure to provide Employment Reports within 30 days of an Agency request shall be an Event of Default under the PILOT Agreement between the Agency and Applicant and, if applicable, an Event of Default under the Project Agreement between the Agency and Applicant.

• The PILOT Agreement shall make this clear and shall require that all such amounts be directly paid by the applicant and/or project occupant.

More Definitions of PILOT Agreement

PILOT Agreement means that certain Payment in Lieu of Tax Agreement dated June 15, 2017, by and between the IDB and RHP, as amended, restated, supplemented or otherwise modified from time to time.

PILOT Agreement has the meaning set forth in Paragraph 28.8.1 below.

PILOT Agreement means the Payment in Lieu of Tax Agreement dated as of June 1, 1994 between the Company and the Agency.

PILOT Agreement means the Agreement for Pay­ments in Lieu of Ad Valorem Taxes entered into of even date herewith by and among the Issuer, the Company, the City and the County.

PILOT Agreement means that certain Memorandum of Understanding with respect to Payment in Lieu of Taxes to be paid to the Town of Watertown by President and Fellows of Harvard College dated as of July 1, 2002.

PILOT Agreement means that certain Tax Pilot and Tax Incentive Development Agreement dated as of December 12, 2012, between Borrower and the City of Bridgeport, as amended by that certain Correction to Tax Pilot and Tax Incentive Development Agreement dated as of April 1, 2019, between Borrower and the City of Bridgeport, as the same may be amended, restated, amended and restated, supplemented or otherwise modified from time to time in accordance with the terms hereof.

PILOT Agreement means the Biodiesel Purchase Agreement dated October 17, 2006 by and between the Company and Pilot Travel Centers, LLC.