TDD Administrative Fee definition
Examples of TDD Administrative Fee in a sentence
The annual Administrative Fee for the District shall be an amount equal to the greater of $5,000 per year or 1% of the TDD Sales Tax proceeds deposited into the TDD Sales Tax Fund hereunder from time to time during the Term and such TDD Administrative Fee shall be due and payable on the date the TDD Sales Tax is received by the City from DOR (provided that the TDD Act permits payment directly from the TDD Sales Tax, and if not, within thirty (30) days of demand therefor by the City).
As and when there are sufficient TDD Sales Tax revenues from the District to pay the TDD Administrative Fee, Developer hereby understands and agrees that such TDD Administrative Fee shall first be paid to the City prior to the payment of Eligible Expenses from the TDD Sales Tax Fund from Pay-As-You-Go TDD Financing.
The City shall commit and pay to the Secretary the TDD Sales Tax proceeds generated from the TDD, less the City’s permitted TDD Administrative Fee, for payment of costs previously paid by the Secretary to the City for Eligible Expenses under the Act (being identified as Reimbursable Costs under this Agreement) until such time as the total amount of TDD Sales Tax remitted to the Secretary equals $11,000,000.00.
As and when there are sufficient TDD Sales Tax revenues from the District to pay the TDD Administrative Fee, Developer hereby understands and agrees that such TDD Administrative Fee shall have first priority to available funds in the TDD Sales Tax Fund.
It provides for a TDD Administrative Fee in an amount equal to the greater of $5,000 or 1% of the TDD Sales Tax collected during any year of the Agreement.
The Governing Body of the City hereby authorizes the project within the SWC 159th Street & US 69 TDD described on Exhibit C attached hereto (the “Project”) and determines the maximum cost of the Project to be financed with TDD Sales Tax (as defined below) is Thirty Two Million and Zero One Hundredths Dollars ($32,000,000.00), plus the TDD Administrative Fee as defined by, and imposed pursuant to, that certain Bluhawk Development Agreement between the City and the Developer.
Subject to the terms and conditions of this Second Amended and Restated Agreement, including without limitation, (a) the TDD Cap set forth in Section 4.04(b) below, (b) the TDD Administrative Fee, and (c) KDOT's rights to the first $11,000,000 of the TDD Sales Tax Proceeds as set forth in Section 4.04(a) below, Developer shall be reimbursed for eligible TDD Improvement Costs from and to the extent of the TDD Sales Tax Proceeds collected during the Term.
It also provides for a TDD Administrative Fee in an amount equal to the greater of $5,000 or 1% of the TDD Sales Tax collected during any year of the Agreement.
As and when there are sufficient TDD Sales Tax revenues from the TDD District to pay the TDD Administrative Fee, Developer hereby understands and agrees that such TDD Administrative Fee shall have first priority to available funds in the TDD Sales Tax Fund.
Subject to the terms and conditions of this Agreement, including without limitation, (a) the TDD Cap set forth in Section 4.04 below, (b) the TDD Administrative Fee and (c) KDOT's rights to the first $11,000,000 of the TDD Sales Tax proceeds as set forth in Section 4.05(a) below, Developer shall be reimbursed for Eligible Expenses from and to the extent of the TDD Sales Tax proceeds collected during the Term.