PILOT Term definition

PILOT Term means the number of years for which a PILOT is approved for a Project under the PILOT Program.

PILOT Term means the period of time, in years, during which a PILOT incentive is in effect pursuant to a Lease Agreement.

PILOT Term means for each Phase for which the Parties have executed a Phase Commencement Notice, the period commencing on the PILOT Effective Date and continuing for fifteen (15) years thereafter.

Examples of PILOT Term in a sentence

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Additional Improvements (the “Additional Improvements PILOT”) as follows: for each semi-annual period occurring during the PILOT Term, the Additional Improvements PILOT shall equal the Adjusted PILOT Amount with respect to such Additional Improvements for such semi-annual period.

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Project Improvements (the “Project Improvements PILOT”) in the amounts described below.

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Land (“Land PILOT”) in the amounts described below.

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below.

• The evaluation and potential clawback starts in the third year before the expiration of the PILOT Term and for each year thereafter.

More Definitions of PILOT Term

PILOT Term means the initial two (2) Years of the Commercial Term.

PILOT Term means the number of years for which a PILOT is approved for a Project under the Sewer Capacity Management Incentive Program.‌‌

PILOT Term. The eighteen year period following the Effective Date when the PILOT Payments pursuant to this Agreement and described in Schedule 1 are in effect. As allowed under Section B-9 the COMPANY has the option to convert the PILOT Payment Term and the Exemption Term into a seventeen-year period.

PILOT Term means ten (10) years for which a PILOT is approved for a Project under the Fast Track PILOT Program, unless extended by a term of up to two (2) years under the Local Business Participation Program set forth herein.

PILOT Term means the 15 year period of time during which annual PILOTs are due in exchange for provision of affordable rental units in accordance with the affordability terms of the PILOT.

PILOT Term means the amount of time real and/or personal property is held by EDGE and during which time Applicant pays reduced property taxes as established pursuant to these Policies and Procedures.

PILOT Term means the fifteen (15) years for which a PILOT is provided for a Designated Site under the Community Builder PILOT Program unless a longer term is approved, not to exceed twenty (20) years without prior approval from the Tennessee Commissioner of Economic and Community Development and of the Tennessee Comptroller of the Treasury.