COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project
COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 7 SECTION 3.02 DILIGENT COMPLETION 7 SECTION 3.03 FILINGS AND REPORTS 7 ARTICLE IV
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project 8 Section 3.02 Diligent Completion 8 Section 3.03 Filings and Reports 8
COMMENCEMENT AND COMPLETION OF THE PROJECT. Contractor understands and agrees that all Work required under this Contract shall be fully completed, as set forth in the Contract Documents, within 60 calendar days of the date of the Notice to Proceed. Contractor acknowledges and understands that it is an essential term of this Contract that Contractor maintain a rate of progress in the Work that will result in completion of the Project in accordance with the Contract Documents, and to that end, Contractor agrees to proceed with all due diligence to complete the Work in a timely manner in accordance with the Contract Documents.
COMMENCEMENT AND COMPLETION OF THE PROJECT. 7 Section 3.01 The Project 7 Section 3.02 Diligent Completion 7 Section 3.03 Filings and Reports 7 FILOT PAYMENTS 9 Section 4.01 FILOT Payments 9 Section 4.02 [Reserved] 10 Section 4.03 Failure to Achieve Minimum Investment Requirement 10 Section 4.04 Removal of Equipment 10 Section 4.05 FILOT Payments on Replacement Property 11 Section 4.06 Reductions in Payment of Taxes Upon Diminution in Value; Investment Maintenance Requirement 11 PARTICULAR COVENANTS AND AGREEMENTS 12 Section 5.01 Cessation of Operations 12 Section 5.02 Rights to Inspect 12 Section 5.03 Confidentiality 12 Section 5.04 Limitation of County’s Liability 12 Section 5.05 Mergers, Reorganizations and Equity Transfers 13 Section 5.06 Indemnification Covenants 13 Section 5.07 Qualification in State 14 Section 5.08 No Liability of County’s Personnel 14 Section 5.09 Assignment, Leases or Transfers 14 Section 5.10 Administration Expenses 15 Section 5.11 Priority Lien Status 15 Section 5.12 Interest; Penalties 15 Section 5.13 Sponsor Affiliates 15 DEFAULT 17 Section 6.01 Events of Default 17 Section 6.02 Remedies Upon Default 17 Section 6.03 Reimbursement of Legal Fees and Expenses and Other Expenses 18 Section 6.04 No Waiver 18 MISCELLANEOUS 19 Section 7.01 Notices 19 Section 7.02 Binding Effect 19 Section 7.03 Counterparts; Electronic Signatures 20 Section 7.04 Governing Law 20 Section 7.05 Headings 20 Section 7.06 Amendments 20 Section 7.07 Further Assurance 20 Section 7.08 Invalidity; Change in Laws 20 Section 7.09 Termination by Company 21 Section 7.10 Entire Understanding 21 Section 7.11 Waiver 21 Section 7.12 Business Day 21 EXHIBIT A – DESCRIPTION OF LAND EXHIBIT B – INVESTMENT CERTIFICATION SUMMARY OF CONTENTS OF FEE IN LIEU OF TAX AGREEMENT As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax Agreement or a summary compliant with Section 12-44-55 of the Code. Company Name: Project Care Project Name: Project Care Projected Investment: $5,325,000 Projected Jobs: 48 Location (street): Tax Map No.:
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.1 The Project. The Company has acquired, constructed and/or installed or made plans for the acquisition, lease, construction, expansion and/or installation of certain land, buildings, improvements, fixtures, machinery and equipment which comprise the Project. Pursuant to the Act, the Company and the County hereby agree that the property comprising the Project is intended to be Economic Development Property as defined under the Act.
COMMENCEMENT AND COMPLETION OF THE PROJECT. 2.1 This Agreement shall commence on the Commencement Date and shall expire on the Completion of the Project unless this Agreement is earlier determined or extended pursuant to the provisions of this Agreement, or the Government agrees otherwise.
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.1 The Project. The Company intends to invest in Equipment, Improvements, and/or Real Property, which together comprise the Project and which are anticipated to create at least the Act Minimum Investment Requirement in eligible Economic Development Property investment subject to Payments in Lieu of Taxes in the County. The parties hereto agree that, to the extent that applicable law allows or is revised or construed to allow the benefits of the Act, in the form of FILOT Payments to be made under Article IV hereof, to be applicable to leased assets including, but not limited to a building and/or personal property to be installed in the buildings and leased to but not purchased by the Company from one or more Sponsors under any form of lease, then such property shall, at the election of the Company, be subject to FILOT Payments to the same extent as the Company’s assets covered by this Fee Agreement, subject, at all times, to the requirement of such applicable law. The parties hereto further agree that this Fee Agreement may be interpreted or modified as may be necessary or appropriate in order to give proper application of this Fee Agreement to such tangible property without such construction or modification constituting an amendment to this Fee Agreement, and thus not requiring any additional action by the County Council. The County Administrator, after consulting with the County Attorney, shall be and hereby is authorized to make such modifications, if any, as may be necessary or appropriate in connection therewith. In such event, and only in such event, such leased property shall constitute a part of the Project for all purposes of this Fee Agreement, including, without limitation, as to removal, replacement, and termination, and such Sponsor shall be deemed to be a party to this Fee Agreement, only to the extent allowed by law. Pursuant to the Act and subject to Section 4.2 hereof, the Company and the County hereby agree that the Company shall identify annually those assets which are eligible for FILOT payments under the Act and which the Company selects for such treatment by listing such assets in its annual PT-300S form (or comparable form) to be filed with the Department (as such may be amended from time to time) and that by listing such assets, such assets shall automatically become Economic Development Property and therefore be exempt from all ad valorem taxation during the Exemption Period. Anything contained in this Fee Agreement to the ...
COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT ERROR! BOOKMARK NOT DEFINED.
COMMENCEMENT AND COMPLETION OF THE PROJECT. 5.1 You will:
