Pledged Tax definition

Pledged Tax has the meaning set forth in Article I of the [Subordinate] [Senior Lien] Trust Agreement.
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Pledged Tax means the Proposition A Sales Tax (a) less the Local Allocation; (b) plus such amounts, if any, of the Local Allocation as any city entitled to such amount has authorized to be pledged to secure the First Tier Senior Lien Bonds. The portion of the Local Allocation to be included as Pledged Tax under clause (b) will not be included until a certified copy of the city’s ordinance, resolution or other official action authorizing the pledge and setting forth in terms of such pledge has been filed with the Trustee and certain legal opinions with respect thereto have also been filed with the Trustee.
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Pledged Tax means the net collections of one-half cent of seven-eighths of one percent (0.875%) citywide local sales and use tax approved initially by the electors of the City at an election held on November 6, 2018 pursuant to Ordinance No. 18-782 of the City adopted on August 6, 2018.
Sample 1

Examples of Pledged Tax in a sentence

  • The Borrower shall comply with all requirements of the Law to ensure the allocation and payment to it of the Pledged Tax Revenues including, without limitation, the timely filing of any necessary statements of indebtedness with appropriate officials of the County of San Diego.

  • The Borrower shall not amend the Redevelopment Plan, or enter into any agreement with the County of San Diego or any other governmental unit, which would have the effect of materially reducing the amount of Pledged Tax Revenues available to the Borrower for payment of the principal and interest with respect to the Line of Credit.

  • Pledged Tax Increment in excess of the Debt Service Coverage Ratio shall remain in the “allocation fund” created under Indiana Code 36-7-14-39 for the Allocation Area, and may be used by the Redevelopment Commission for any permitted use under Indiana Code 36-7-14 and Indiana Code 36-7-25.

  • All of the foregoing is for the benefit of the holders of the Series 20 A Bonds, to the end that industry and the economy may be diversified and job opportunities promoted and retained, and to secure the Series 20 A Bonds by pledging the Pledged Tax Increment [,Taxpayer Payments] and available RIF to the Trustee.

  • The City’s obligation as to any Pledged Tax Increment shall not be subject to acceleration.

  • The Series 20 B Bonds issued under the Indenture will be payable solely out of: (i) Pledged Tax Increment (as hereinafter defined), junior and subordinate to the Series A Bonds; (ii) the payments to be made by the Borrower on the Series 20 Note and any other Notes issued hereunder; (iii) [Taxpayer Payments, junior and subordinate to the Series A Bonds] and (iv) proceeds of the Series 20 B Bonds.

  • The principal of the TIF Note and interest thereon shall be payable solely from the Pledged Tax Increments as provided below.

  • To the extent the Pledged Tax Increment [and Taxpayer Payments] are not sufficient to pay any of the principal of or interest on the Series 20 B Bonds, the Borrower may defer payment of such amounts due hereunder until such time as there shall be sufficient Pledged Tax Increment [and Taxpayer Payments] to make such payments and the Bondholder may forego the principal and interest due to the extent Pledged Tax Increment [and Taxpayer Payments] are not available.

  • CSURA hereby covenants that so long as this Cooperation Agreement is in effect, it will not pledge or encumber the Pledged Tax Increment Revenues, but shall maintain the same for the use and benefit of the District and, upon receipt, shall promptly pay the same to the District, or a trustee with respect to the Bonds, if requested by the District.

  • In accordance with Section 4.5 of the Indenture, the City shall transfer to the Trustee for deposit into the Bond Fund on or before each January 15 and July 15, to the extent available, the Pledged Tax Increment [and Taxpayer Payments] in an amount sufficient to pay the principal of and interest coming due on the Bonds on the next February 1 or August 1, together with any Annual Fees of the Trustee coming due in the following six (6) month period.


More Definitions of Pledged Tax

Pledged Tax means the Proposition C Sales Tax (i) less the administrative fee deducted by the Board of Equalization, (ii) less the Local Allocation and Tax, (c) plus such portion, if any, of the Local Allocation as any jurisdiction entitled to such amount has authorized to be pledged to secure the Bonds in accordance with the Trust Agreement.
Sample 1
Pledged Tax has the meaning set forth in Article I of the Subordinate Trust Agreement.
Sample 1

Related to Pledged Tax

  • Excluded Tax means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to a Recipient (a) Taxes imposed on or measured by net income (however denominated, and including branch profits taxes) and franchise taxes, in each case (i) imposed as a result of such Recipient being organized under the Laws of, or having its principal office or, in the case of any Lender, its applicable lending office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) imposed on any Recipient as a result of a present or former connection between such Recipient and the jurisdiction of the Governmental Authority imposing such Tax or any political subdivision or taxing authority thereof or therein (other than such connection arising from any such Recipient having executed, delivered, become a party to, performed its obligations or received a payment under, received or perfected a security interest under, engaged in any other transaction pursuant to or enforced, any Credit Document, or sold or assigned an interest in any Credit Document or Loan); (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a Law in effect on the date on which such Lender (i) acquires such interest in the Loan or Commitment or otherwise becomes a party to this Agreement (other than pursuant to an assignment request by the Borrower under Section 2.23) or (ii) changes its lending office, except in each case, to the extent that, pursuant to Section 2.20, amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its lending office; (c) Taxes that are attributable to the failure by any Recipient to deliver the documentation required to be delivered pursuant to Section 2.20(f) or Section 2.20(g); and (d) Taxes imposed under FATCA.

  • Covered Taxes means any and all U.S. federal, state, local and foreign taxes, assessments or similar charges that are based on or measured with respect to net income or profits, whether as an exclusive or an alternative basis (including for the avoidance of doubt, franchise taxes), and any interest imposed in respect thereof under applicable law.

  • authorised taxi rank means any area of carriageway which is comprised within and indicated by a road marking complying with diagram 1028.2 in Schedule 6 to the Traffic Signs Regulations and General Directions 2002;

  • Secured Tax Claim means any Secured Claim that, absent its secured status, would be entitled to priority in right of payment under section 507(a)(8) of the Bankruptcy Code (determined irrespective of time limitations), including any related Secured Claim for penalties.

  • Indemnified Tax means (a) any Tax, other than an Excluded Tax, imposed on or with respect to any payment made by or on account of any obligation of the Borrower under any Loan Document and (b) to the extent not otherwise described in clause (a), Other Taxes.

  • Related Taxes means (i) any Taxes, including sales, use, transfer, rental, ad valorem, value added, stamp, property, consumption, franchise, license, capital, registration, business, customs, net worth, gross receipts, excise, occupancy, intangibles or similar Taxes and other fees and expenses (other than (x) Taxes measured by income and (y) withholding Taxes), required to be paid (provided such Taxes are in fact paid) by any Parent Entity by virtue of its:

  • Qualified taxpayer means a person that either owns the resource to be rehabilitated or has a long-term lease agreement with the owner of the historic resource and that has qualified expenditures for the rehabilitation of the historic resource equal to or greater than 10% of the state equalized valuation of the property. If the historic resource to be rehabilitated is a portion of an historic or nonhistoric resource, the state equalized valuation of only that portion of the property shall be used for purposes of this subdivision. If the assessor for the local tax collecting unit in which the historic resource is located determines the state equalized valuation of that portion, that assessor's determination shall be used for purposes of this subdivision. If the assessor does not determine that state equalized valuation of that portion, qualified expenditures, for purposes of this subdivision, shall be equal to or greater than 5% of the appraised value as determined by a certified appraiser. If the historic resource to be rehabilitated does not have a state equalized valuation, qualified expenditures for purposes of this subdivision shall be equal to or greater than 5% of the appraised value of the resource as determined by a certified appraiser.

  • Excluded Taxes means any of the following Taxes imposed on or with respect to any Recipient or required to be withheld or deducted from a payment to a Recipient, (a) Taxes imposed on or measured by net income (however denominated), franchise Taxes, and branch profits Taxes, in each case, (i) imposed as a result of such Recipient being organized under the laws of, or having its principal office or, in the case of any Lender, its Lending Office located in, the jurisdiction imposing such Tax (or any political subdivision thereof) or (ii) that are Other Connection Taxes, (b) in the case of a Lender, U.S. federal withholding Taxes imposed on amounts payable to or for the account of such Lender with respect to an applicable interest in a Loan or Commitment pursuant to a law in effect on the date on which (i) such Lender acquires such interest in the Loan or Commitment (other than pursuant to an assignment request by the Borrower under Section 11.13) or (ii) such Lender changes its Lending Office, except in each case to the extent that, pursuant to Section 3.01(a)(ii), (a)(iii) or (c), amounts with respect to such Taxes were payable either to such Lender’s assignor immediately before such Lender became a party hereto or to such Lender immediately before it changed its Lending Office, (c) Taxes attributable to such Recipient’s failure to comply with Section 3.01(e) and (d) any U.S. federal withholding Taxes imposed pursuant to FATCA.

  • Combined Tax Return means a Tax Return filed in respect of U.S. federal, state, local or non-U.S. income Taxes for a Combined Group, or any other affiliated, consolidated, combined, unitary, fiscal unity or other group basis (including as permitted by Section 1501 of the Code) Tax Return of a Combined Group.

  • Indemnified Taxes means Taxes other than Excluded Taxes.

  • Relevant Taxing Jurisdiction shall have the meaning specified in Section 4.07(a).

  • Agreement combined tax rate means the sum of the tax rates:

  • Value Added Taxes means such sum as shall be levied upon amounts payable to the Consultant under this Contract by any Governmental Authority that is computed as a percentage of the amounts payable to the Consultant (including all other Taxes but excluding Value Added Taxes), and includes the HST, and any similar tax, the payment or collection of which, by the legislation imposing such tax, is an obligation of the Consultant.

  • Consolidated Taxes means, with respect to any Person for any period, the provision for taxes based on income, profits or capital, including, without limitation, state, franchise, property and similar taxes, foreign withholding taxes (including penalties and interest related to such taxes or arising from tax examinations) and any Tax Distributions taken into account in calculating Consolidated Net Income.

  • Presumed Tax Rate means the highest effective marginal statutory combined U.S. federal, state and local income tax rate prescribed for an individual residing in New York City (taking into account (i) the deductibility of state and local income taxes for U.S. federal income tax purposes, assuming the limitation of Section 68(a)(2) of the Code applies and taking into account any impact of Section 68(f) of the Code, and (ii) the character (long-term or short-term capital gain, dividend income or other ordinary income) of the applicable income).

  • Relevant Tax Authority means HMRC, or, if applicable, the tax authority in the jurisdiction in which the Supplier is established;

  • Assumed Tax Rate means the highest effective marginal combined U.S. federal, state and local income tax rate for a Fiscal Year prescribed for an individual or corporate resident in New York, New York (taking into account (a) the nondeductiblity of expenses subject to the limitation described in Section 67(a) of the Code and (b) the character (e.g., long-term or short-term capital gain or ordinary or exempt income) of the applicable income, but not taking into account the deductibility of state and local income taxes for U.S. federal income tax purposes). For the avoidance of doubt, the Assumed Tax Rate will be the same for all Partners.

  • Unqualified Tax Opinion means an unqualified reasoned “will” opinion of Qualified Tax Counsel, which opinion is reasonably acceptable to each of the Parties and upon which each of the Parties may rely to confirm that a transaction (or transactions) will not result in Distribution Taxes. For purposes of this definition, an opinion is reasoned if it describes the reasons for the conclusions, including the facts and analysis supporting the conclusions.

  • Estimated taxes means the amount that the taxpayer reasonably estimates to be the taxpayer's tax liability for a municipal corporation's income tax for the current taxable year.

  • value added tax means value added tax charged in accordance with the Value Added Tax Act 1994.

  • integrated tax means the integrated goods and services tax levied under the Integrated Goods and Services Tax Act;

  • Non-Excluded Taxes as defined in Section 2.20(a).

  • Other Tax means any Federal Other Tax, State Other Tax, or Foreign Other Tax.

  • Realized Tax Benefit means, for a Taxable Year, the excess, if any, of the Hypothetical Tax Liability over the Actual Tax Liability. If all or a portion of the actual liability for such Taxes for the Taxable Year arises as a result of an audit by a Taxing Authority of any Taxable Year, such liability shall not be included in determining the Realized Tax Benefit until there has been a Determination.

  • After-imposed tax means any new or increased tax or duty, or tax that was exempted or excluded on the contract date but whose exemption was later revoked or reduced during the contract period, other than excepted tax, on the transactions or property covered by this contract that the Contractor is required to pay or bear as the result of legislative, judicial, or administrative action taking effect after the contract date.