PILOT Year definition

PILOT Year means the first tax year following the Taxable Status Date after the Completion Date and each year thereafter for a total of twenty (20) years in accordance with the Schedule of PILOT Payments. For example, if the Completion Date was prior to March 1, 2022, the Initial PILOT Year would include the

PILOT Year means the first tax year following the Completion Date. For example, if the Completion Date is prior to March 1, 2021, the Initial PILOT Year would include the

PILOT Year means each period of 12 months, commencing on the first day of July of each such period, in which occurs any part of the Term.

Examples of PILOT Year in a sentence

• This payment would be in an amount which is a percentage of the Base Amount equal to 3.0 times the percentage by which the Company’s Investment underachieved the targeted amount times the Base Amount due and payable for the next-ensuing PILOT Year (or, if the Company has made a lump sum payment of the Base Amount as provided in the Agreement, then times the Base Amount that would otherwise have been due and payable for the next- ensuing PILOT Year).

• PILOT Estimate Table Worksheet Dollar Value of New Construction and Renovation CostsEstimated New Assessed Value on Improvementsof Property Subject to IDA*County Tax Rate/$1,000Local Tax Rate (Town/City/Village)/$1,000School Tax Rate/$1,000 *Apply equalization rate to value PILOT Year% PaymentPILOT AmountFull Tax Payment withoutPILOTEstimated Net Exemption1.

• If the First Milestone is not achieved by the 90th Day following the 24th month from the Entitlement Date the Company will be required to pay five (5) times the Base Amount due and payable for the next-ensuing PILOT Year (or, if the Company has made a lump sum payment of the Base Amount as provided in the Agreement, then 5 times the Base Amount that would otherwise have been due and payable for the next-ensuing PILOT Year).

• The obligation of the Obligor to make PILOT Increment payments to the Agency under the PILOT Agreement during the 20[ ] PILOT Year (the "PILOT Obligations") will be (a) evidenced by a PILOT Note payable by the Obligor to the order of Mortgagee in a principal amount equal to $[ ], representing the aggregate amount of such PILOT Increment (the "PILOT Note"), and (b) secured by this Mortgage, which is intended to be recorded in the Monroe County Clerk's Office.

• If the Second Milestone is not achieved by the 90th Day following the 36th month from the Entitlement Date the Company will be required to pay seven and a half (7.5) times the Base Amount due and payable for the next-ensuing PILOT Year (or, if the Company has made a lump sum payment of the Base Amount as provided in the Agreement, then 7.5 times the Base Amount that would otherwise have been due and payable for the next-ensuing PILOT Year had such lump sum payment not been made).

More Definitions of PILOT Year

PILOT Year means the first tax year following the Taxable Status Date after the Completion Date and each year thereafter for a total of twenty (20) years in accordance with the Schedule of PILOT Payments. For example, if the Completion Date was prior to March 1, 2021, the Initial PILOT Year would include the 2021/2022 School District PILOT, the 2022 County PILOT, the2022 Town PILOT, the2022 Arlington Fire District PILOT2022 Poughkeepsie Library District PILOT 2022 Townwide Drainage Improvement PILOT2022 Townwide Water Improvement PILOT2022 Consolidated Light PILOT, (collectively the “Initial PILOT Year”) shall become due, and annually thereafter for a total of twenty (20) years in accordance with the Schedule of PILOT Payments.

PILOT Year means each twelve‐month period of the solar photovoltaic pilot program beginning on April 1. Year one of the pilot program is April 1, 2010 to March 31, 2011; year two of the pilot is April 1, 2011 to March 31, 2012, etc.

PILOT Year means (A) in the event that the Delivery Date does not occur on January 1, the period from the Delivery Date through the second December 31 thereafter (such period, the "First PILOT Year"), and (B) each twelve (12) calendar month period commencing on the first January 1 following the First PILOT Year and on each anniversary thereof.

PILOT Year means a twelve (12) month period which begins on the Start Date or an anniversary thereof, during the Term.

PILOT Year means each twelve (12) month period, commencing on the first day of July of each such period occurring during the Term hereof or such other 12 month period as may hereafter be adopted as the fiscal year for PILOT payment purposes by the City of New York.

PILOT Year means each twelve-month period of the solar photovoltaic pilot program beginning on April 1 and ending on March 31.

PILOT Year shall have the meaning set forth in Section 33.03.