Payment in Lieu of Tax Agreement definition

Payment in Lieu of Tax Agreement means the payment in lieu of tax agreement dated as of [DocumentDate] by and between the Agency and the Company, pursuant to which the Company has agreed to make payments in lieu of taxes with respect to the Project Facility, as such agreement may be amended or supplemented from time to time.
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Payment in Lieu of Tax Agreement means that certain Payment in Lieu of Tax Agreement dated as of December 1, 2004 between the Borrower and the City, together with any and all amendments, modifications, supplements, renewals or restatements thereof.
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Payment in Lieu of Tax Agreement means, if the Project Facility Agreements include a payment in lieu of tax agreement, the payment in lieu of tax agreement described on Exhibit E attached hereto, as said document may be amended or supplemented from time to time.
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Examples of Payment in Lieu of Tax Agreement in a sentence

  • This is where a Payment in Lieu of Tax Agreement (PILOT) comes into play.

  • Each project receiving a real property tax exemption will be subject to a Payment in Lieu of Tax Agreement (“PILOT Agreement”) in a form acceptable to the Agency.

  • It is anticipated that a Payment in Lieu of Tax Agreement (PILOT) will be negotiated between BRS and Mississippi County.

  • The amounts payable under this Payment in Lieu of Tax Agreement shall be payable in such coin and currency of the United States of America as at the time of payment shall be legal tender for the payment of public and private debts.

  • By proper corporate action on the part of its members, the Agency has duly authorized the execution, delivery and performance of this Payment in Lieu of Tax Agreement and the consummation of the transactions herein contemplated.

  • The Company irrevocably agrees that any suit, action or other legal proceeding arising out of this Payment in Lieu of Tax Agreement may be brought in the courts of record of the State, consents to the jurisdiction of each such court in any such suit, action or proceeding, and waives any objection which it may have to the laying of the venue of any such suit, action or proceeding in any of such courts.

  • This Payment in Lieu of Tax Agreement may be simultaneously executed in several counterparts, each of which shall be an original and all of which shall constitute but one and the same instrument.

  • In the event any provision contained in this Payment in Lieu of Tax Agreement should be breached by any party and thereafter duly waived by the other party so empowered to act, such waiver shall be limited to the particular breach so waived and shall not be deemed to be a waiver of any other breach hereunder.

  • This Payment in Lieu of Tax Agreement shall inure to the benefit of, and shall be binding upon, the Agency, the Company and their respective successors and assigns.

  • This Payment in Lieu of Tax Agreement may not be effectively amended, changed, modified, altered or terminated except by an instrument in writing executed by the parties hereto.


More Definitions of Payment in Lieu of Tax Agreement

Payment in Lieu of Tax Agreement means an agreement requiring that the taxing authorities receive payments or other charges directly from a lessee of the property or from any other sources on account of the property; and
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Payment in Lieu of Tax Agreement or “PILOT Agreement” means the payment in lieu of tax agreement dated as of [ the Project Agreement Date] by and between the Agency and the Company, pursuant to which the Company has agreed to make payments in lieu of taxes with respect to the Project Facility, as such agreement may be amended or supplemented from time to time.
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Payment in Lieu of Tax Agreement. (PILOT) shall mean a written agreement between the Agency AND Applicant whereby the Applicant shall make payments to Affected Tax Jurisdictions.
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Payment in Lieu of Tax Agreement means the amended and restated payment in lieu of tax agreement dated as of August 1, 2020 by and between the Agency and the Company, pursuant to which the Company agreed to make payments in lieu of taxes with respect to the Project Facility, as such agreement may be amended or supplemented from time to time.
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Related to Payment in Lieu of Tax Agreement

  • Agreement in lieu of a plan means a contract between the plan-approving authority and the owner that specifies conservation measures that must be implemented in the construction of a single-family residence; this contract may be executed by the plan-approving authority in lieu of a formal site plan.

  • Tax Exempt Obligations means any bond, note or other obligation issued by any person, the interest on which is excludable from gross income for federal income tax purposes.

  • Federal Tax Certificate means the Issuer's Federal Tax Certificate dated as of the Issue Date, as the same may be amended or supplemented in accordance with the provisions thereof.

  • AHYDO Catch-Up Payment means any payment with respect to any obligations of the Borrower or any Restricted Subsidiary, including subordinated debt obligations, in each case to the extent such payment is necessary to avoid the application of Section 163(e)(5) of the Tax Code.

  • Payment instrument means any personalised device(s) and/or set of procedures agreed between the payment service user and the payment service provider and used in order to initiate a payment order;

  • Supplemental Payment means any payments or transfers of things of value made to the District or to any person or persons in any form if such payment or transfer of thing of value being provided is in recognition of, anticipation of, or consideration for the Agreement and that is not authorized pursuant to Sections 313.027(f)(1) or (2) of the TEXAS TAX CODE, and specifically includes any payments required pursuant to Article VI of this Agreement.

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

  • State disbursement unit or "SDU" means the entity established in section 6 of the office of child support act, 1971 PA 174, MCL 400.236.

  • PAGA Payment means the penalties pursuant to PAGA that the Parties have agreed is a

  • Determination of Taxability means and shall be deemed to have occurred on the first to occur of the following:

  • Assigned Annual Special Tax means the Special Tax of that name described in Section D.

  • Assessment instrument means the form provided for under the Supported Wage System that records the assessment of the productive capacity of the person to be employed under the Supported Wage System.

  • MUNICIPAL TAXABLE INCOME means the following:

  • Principal Protection Amount means an amount per ETP Security, in respect of each Tranche of ETP Securities, corresponding to 2.00 per cent of the Principal Amount for the ETP Security of such Tranche.