Examples of M&O Amount in a sentence
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of this Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Property.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of the Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Investment/Qualified Property.
Applicant shall pay to the District the Floor Revenue Payment on or before January 31 next following the year that the M&O Amount was calculated, the same as all other payments under this Agreement that become due.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue Protection Amount suffered by the District as a result of the Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Investment/Qualified Property.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of this Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Investment/Qualified Property.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of this Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District resulting from any change in the timing of construction and/or any change to the Qualified Property.
Applicant shall pay to the District the Floor Revenue Payment on or before January 31 next following the year that such M&O Amount was calculated, the same as all other payments under this Agreement that become due.
In the event that the M&O Amount (also known as the revenue protection payment as set out in TEXAS EDUCATION CODE Section 48.256(d)) for any Tax Year during the Limitation Period of this Agreement, beginning with the second Tax Year of the Tax Limitation Period, shall exceed the Applicant’s Net Tax Benefit for that Tax Year, the M&O Amount owed for that year shall be limited to the Applicant’s Net Tax Benefit for that Tax Year.
If, for any year of this Agreement, the difference between the Original M&O Revenue and the New M&O Revenue as calculated under this Section 4.2 of this Agreement results in a negative number for the M&O Amount, the negative number will be considered to be zero.
If Applicant is not required to pay any M&O Amount as provided in Article IV and notwithstanding the foregoing, Applicant shall continue to make Supplemental Payments beyond the end of the Tax Limitation Period and continuing through the third year following the end of the Tax Limitation Period (scheduled to end in Tax Year 2036).