Tax Limitation Period definition

Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property issubject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

Tax Limitation Period means the Tax Years for which the Applicant’s Qualified Property is

Examples of Tax Limitation Period in a sentence

• In order to receive and maintain the limitation authorized by Section 2.4 in addition to the other obligations required by this Agreement, the Applicant shall Maintain Viable Presence in the District commencing at the start of the Tax Limitation Period through the Final Termination Date of this Agreement.

• In consideration of the execution and subsequent performance of the terms and obligations by the Applicant pursuant to this Agreement, identified in Sections 2.5 and 2.6 and as more fully specified in this Agreement, the value of the Applicant’s Qualified Property listed and assessed by the County Appraiser for the District’s maintenance and operation ad valorem property tax shall be the Tax Limitation Amount as set forth in Section 2.4 of this Agreement during the Tax Limitation Period.

• Supplemental Payments may only be made during the period starting with the first year of the Qualifying Time Period and ending December 31 of the third year following the end of the Tax Limitation Period.

• For each Tax Year of this Agreement beginning with the first complete or partial year of the Tax Year that includes the date on which the Qualifying Time Period commences under this Agreement as provided in Section 2.3.C.i, and ending on December 31st of the third Tax Year following the end of the Tax Limitation Period, the District shall not be entitled to receive Supplemental Payments, computed under Sections 6.1 and 6.6, that exceed the Aggregate Limit.

• Any of the Applicant’s Stipulated Supplemental Payment Amounts which cannot be paid to the District prior to the end of the third Tax Year following the end of the Tax Limitation Period because such payment would exceed the Aggregate Limit, will be deemed to have been cancelled by operation of law, and the Applicant shall have no further obligation with respect thereto.

• The Supplemental Payments shall accrue with the first complete or partial year of the Qualifying Time Period, and on January 1 for each year thereafter, continuing through the third year following the end of the Tax Limitation Period.

• Notwithstanding anything contained in this Agreement to the contrary, in no event shall the Cumulative Payments calculated for a Tax Year of this Agreement during the period from the first Tax Year of the Tax Limitation Period and ending with and including the first Tax Year following the end of the Tax Limitation Period, exceed an amount equal to One Hundred Percent (100%) of the Applicant’s Cumulative Unadjusted Tax Benefit for such Tax Year.

• The Supplemental Payments to the District shall not exceed the Supplemental Payment Limitation set out in Section 6.6 below, starting with the first complete or partial year of the Qualifying Time Period, and continuing through the 3rd year following the end of the Tax Limitation Period.

• Supplemental Payments may only be made during the period starting the first year of the Qualifying Time Period and ending December 31 of the third year following the end of the Tax Limitation Period.

• For each Tax Year beginning with the period starting the first full year of the Qualifying Time Period (2023) and ending December 31 of the third year following the end of the Tax Limitation Period (2040), Supplemental Payments shall be owed.

More Definitions of Tax Limitation Period

Tax Limitation Period means the Tax Years for which the Applicant's Qualified Property is subject to the Tax Limitation Amount and as further identified in Section 2.3.D of this Agreement.

Tax Limitation Period means the period, if any, that begins on (w) the date of final adjournment sine die of the 100xx Xxxxxxxx xx xxx Xxxxxx Xxxxxx without enacting the FAIR Act (as defined in the Asbestos Term Sheet) or (x) if the FAIR Act is enacted and made law before such final adjournment, but is subject to a Challenge Proceeding (as defined in the Asbestos Term Sheet) as of 60 days after the Trigger Date (as defined in the Asbestos Term Sheet), the day such Challenge Proceeding is resolved by Final Order (as defined in the Asbestos Term Sheet) in a manner that causes the Contingent Payment Note (as defined in the Asbestos Term Sheet) to vest, and ends on the earlier of (y) the day after the date on which the Company makes the first payment on the Contingent Payment Note and (z) the day on which the Company provides written notice to the Shareholder that the limitation imposed by the notice is no longer needed.

Tax Limitation Period shall have the meaning set forth in Section 7.1(d) of this Agreement.