PILOT Rate definition

PILOT Rate shall have the meaning set forth in Section 4.05A(v) hereof. 2 hereof. "PILOT Semi-Annual Period" shall have the meaning set forth in Section 4.05A(vi) 3 "PILOT Space" shall have the meaning set forth in Section 4.05A(vii) hereof. 4 "PILOT Square Feet" shall have the meaning set forth in Section 4.05A(viii) hereof. 5 "PILOT Statement" shall have the meaning set forth in Section 4.05C hereof.
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PILOT Rate means, for each PILOT Semi-Annual Period, the 26 product obtained by multiplying (x) the PILOT Escalator for such PILOT Semi-Annual Period as finally 27 determined in accordance with the PILOT Agreement, by (y) $55,000,000 (i.e., the Base Amount, as 28 defined in the PILOT Agreement), and by (z) a fraction, the numerator of which is the Actual Space 29 Available (as defined in the PILOT Agreement, which is 1,700,000 for the July 1, 2012 PILOT Semi-
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PILOT Rate means the percentage rate as set forth in Section II below used in the formula to calculate the PILOT due to the City.
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Examples of PILOT Rate in a sentence

  • If the Gross Revenue and PILOT Rate set forth in Section II results in a PILOT payment for any Tax Year less than or equal to the Minimum Annual PILOT, the Minimum Annual PILOT amount shall be due and payable to the City instead.

  • If the Gross Revenue and PILOT Rate set forth in Section II results in a PILOT payment for any Tax Year that is greater than the Minimum Annual PILOT due, only the amount calculated under Section II is due and payable for the applicable Tax Year.

  • The amounts of PILOT payments shall be, each Tax Year, the Project’s Gross Revenue applicable to the preceding Calendar Year multiplied by the PILOT Rate.

  • As the amount of the PILOT relies on ReVision’s annual Gross Revenue from the Project as well as the PILOT Rate herein and not on a valuation of ReVision’s taxable interests in property, ReVision hereby waives any alternative tax options, statutory appeal rights and/or remedies under Title V of the New Hampshire Revised Statutes Annotated that may become applicable during the effective period of this Agreement.

  • The PILOT Rate for each Tax Year during the term of this Agreement shall be five percent (5%).

  • Cancellation Agreement and Release with the Housing Authority of Brevard County, Re: Payment in Lieu of Taxes (PILOT) Rate for Shelter Rent 13.

  • Applicable PILOT Rate – The percentage of otherwise applicable taxes (“OAT”) for the Project, or Phase, in the following years: • Years 1 – 4 0% of OAT• Years 5-8 20% of OAT• Years 9-12 40% of OAT• Years 13-16 60% of OAT• Years 17-20 80% of OAT Auditor’s Report – A financial statement outlining the financial status of the Project (for a period of time as indicated by context), which shall include a certification of Annual Gross Revenue.

  • Increased A/V times A/V Phase-In.4Tax Rate of $500 times Tax Rate Increase.5 Assessed Value for PILOT times PILOT Rate divided by 100.6 Land PILOT plus Improvement PILOT.7 Assumes that the Increased Assessed Value applies in full as of Year 2 of the PILOT, that there are no reassessments during the PILOT term, and that actual tax rates increase by 4.5% per year.The amount of benefits that will be realized by a company cannot be determined with certainty at the inception of the transaction.

  • Applicable PILOT Rate – The percentage of otherwise applicable taxes (“OAT”) for the Project, or Phase, in the following years: A uditor’s Report – A financial statement outlining the financial status of the Project (fora period of time as indicated by context), which shall include a certification of Annual Gross Revenue.


More Definitions of PILOT Rate

PILOT Rate shall have the meaning set forth in Section 4.05A(v) hereof.
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Related to PILOT Rate

  • Reference Rate means the rate specified as such hereon.

  • Disbursement Rate means an annual rate of interest, as of the date of determination, equal to the greater of (a) eight percent (8%) and (b) the per annum rate for ten (10) year U.S. Treasury Obligations as published in The Wall Street Journal plus three hundred (300) basis points; provided, however, that in no event shall the Disbursement Rate exceed eleven and one-half percent (11.5%).

  • One Month LIBOR Rate means, with respect to any interest rate calculation for a Loan or other Obligation bearing interest at the Alternate Base Rate, a rate per annum equal to the quotient (rounded upward if necessary to the nearest 1/16th of one percent (0.0625%)) of (i) the rate per annum referred to as the BBA (British Bankers Association) LIBOR RATE as reported on Reuters LIBOR page 1, or if not reported by Reuters, as reported by any service selected by Administrative Agent on the applicable day (provided that if such day is not a Eurodollar Banking Day for which a Eurodollar Rate is quoted, the next preceding Eurodollar Banking Day for which a Eurodollar Rate is quoted) at or about 11:00 a.m., London time (or as soon thereafter as practicable), for Dollar deposits being delivered in the London interbank eurodollar currency market for a term of one month commencing on such date of determination, divided by (ii) one minus the Reserve Requirement in effect on such day. If for any reason rates are not available as provided in clause (i) of the preceding sentence, the rate to be used in clause (i) shall be, at Administrative Agent’s discretion (in each case, rounded upward if necessary to the nearest one-sixteenth (1/16) of one percent (0.0625%)), (1) the rate per annum at which Dollar deposits are offered to the Administrative Agent in the London interbank eurodollar currency market or (2) the rate at which Dollar deposits are offered to the Administrative Agent in, or by Xxxxx Fargo to major banks in, any offshore interbank eurodollar market selected by Administrative Agent, in each case on the applicable day (provided that if such day is not a Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market, the next preceding Eurodollar Banking Day for which Dollar deposits are offered to Administrative Agent in the London interbank eurodollar currency market) at or about 11:00 a.m., London time (or as soon thereafter as practicable) (for delivery on such date of determination) for a one month term. Each determination by Administrative Agent pursuant to this definition shall be conclusive absent manifest error.

  • Payment Rate means the rate (expressed in €/MWh, €/Mvarh or €/MWs2h as appropriate) for the calculation of payments for DS3 System Services as specified in the Charging Statement;

  • Day Rate means the rate per day per grade tendered by the Supplier in the Supplier’s proposal that shall never be exceeded within this Contract;

  • Relevant Rate means the Benchmark for a Representative Amount of the Specified Currency for a period (if applicable or appropriate to the Benchmark) equal to the Specified Duration commencing on the Effective Date.

  • Expense Rate As to each Mortgage Loan, the sum of the Master Servicing Fee Rate and the Trustee Fee Rate.

  • LIBOR Daily Floating Rate means, for any day, a fluctuating rate of interest per annum equal to LIBOR as published on the applicable Bloomberg screen page (or such other commercially available source providing such quotations as may be designated by Administrative Agent from time to time), at approximately 11:00 a.m., London time, two (2) London Banking Days prior to such day, for Dollar deposits with a term of one (1) month commencing that day; provided that if the LIBOR Daily Floating Rate shall be less than zero, such rate shall be deemed zero for purposes of the Loan Documents.

  • Three-Month LIBOR Rate means the rate determined in accordance with the following provisions:

  • Settlement Rate has the meaning specified in Section 5.1.

  • Rate means the Adjusted LIBO Rate and the Alternate Base Rate.

  • Unit Rate means as set out in the Quotation Document;

  • SOFR Rate means the rate that will be calculated by the Calculation Agent for each Accrual Period on the SOFR Adjustment Date as of the SOFR Determination Time (or, if the Benchmark is not SOFR, the Reference Time) and, except as provided below following a determination by the Administrator that a Benchmark Transition Event and its related Benchmark Replacement Date have occurred, shall mean, with respect to the Class A-2b Notes as of any SOFR Adjustment Date, a rate equal to Compounded SOFR; provided, that, the Administrator will have the right, in its sole discretion, to make applicable SOFR Adjustment Conforming Changes.

  • Adjusted Eurodollar Rate means for any Interest Period with respect to any Eurodollar Loan, an interest rate per annum (rounded upwards, if necessary, to the next 1/100 of 1.00%) equal to (a) the Eurodollar Rate for such Interest Period multiplied by (b) the Statutory Reserves.

  • SONIA Reference Rate means, in respect of any London Banking Day, a reference rate equal to the daily Sterling Overnight Index Average ("SONIA") rate for such London Banking Day as provided by the administrator of SONIA to authorised distributors and as then published on the Relevant Screen Page (or if the Relevant Screen Page is unavailable, as otherwise is published by such authorised distributors) on the London Banking Day immediately following such London Banking Day; and

  • Blended Rate means, with respect to any Taxable Year, the sum of the effective rates of tax imposed on the aggregate net income of the Corporate Taxpayer in each state or local jurisdiction in which the Corporate Taxpayer files Tax Returns for such Taxable Year, with the maximum effective rate in any state or local jurisdiction being equal to the product of: (i) the apportionment factor on the income or franchise Tax Return filed by the Corporate Taxpayer in such jurisdiction for such Taxable Year, and (ii) the maximum applicable corporate tax rate in effect in such jurisdiction in such Taxable Year. As an illustration of the calculation of Blended Rate for a Taxable Year, if the Corporate Taxpayer solely files Tax Returns in State 1 and State 2 in a Taxable Year, the maximum applicable corporate tax rates in effect in such states in such Taxable Year are 6% and 5%, respectively and the apportionment factors for such states in such Taxable Year are 60% and 40%, respectively, then the Blended Rate for such Taxable Year is equal to 5.6% (i.e., 6% times 60% plus 5% times 40%).

  • SBI 1 Year MCLR Rate means 1 year Marginal Cost of Funds Based Lending Rate (MCLR) fixed by State Bank of India (SBI) / any replacement thereof by SBI for the time being in effect applicable for 1 year period, as on 1st April of the respective financial year in accordance with regulations and guidelines of Reserve Bank of India. In absence of such rate, any other arrangement that substitutes such rate as mutually agreed to by the Parties.

  • Daily LIBOR Rate means, for any day, the rate per annum determined by the Administrative Agent by dividing (x) the Published Rate by (y) a number equal to 1.00 minus the LIBOR Reserve Percentage on such day.

  • Net Rate With respect to each Mortgage Loan, the Mortgage Interest Rate in effect from time to time less the Aggregate Expense Rate (expressed as a per annum rate).

  • Replacement Rate has the meaning assigned thereto in Section 4.2.(b).

  • Wage Rate refers to an Employee’s hourly rate of pay reflected by the pay grade of her position and her step within that grade, as set out in the Wage Rate grid in Appendix II.

  • Repo Rate on any day means the highest interest rate available to a Lender from investment in overnight repurchase agreements.

  • Current Rate means the applicable basic minimum wage rate for Local Workers by reason of any National or State Statute or Ordinance, prevailing on any date subsequent to the date 28 days prior to the latest date set for submission of Tenders.

  • CMS Rate means the applicable swap rate for swap transactions in the Reference Currency with a maturity of the Designated Maturity, expressed as a percentage, which appears on the Relevant Screen Page as at the Specified Time on the relevant Interest Determination Date in question, all as determined by the Calculation Agent.

  • Standard Rate means, for any day, a rate per annum equal to the Bank's announced Prime Rate minus 0% per annum, and each change in the Standard Rate shall be effective on the date any change in the Prime Rate is publicly announced as being effective.