Contribution to the Franklin Community School Corporation Sample Clauses

Contribution to the Franklin Community School Corporation. The Parties acknowledge and agree that Cold Summit has been granted real property tax abatement with respect to the Project for a period of 10 years (the “Tax Abatement”). Beginning on the first business day of April in the calendar year subsequent to the completion of the Project and commencement of operations of Cold Summit, or its tenant) from the Real Estate, and on the first business day of April in each calendar year thereafter, Cold Summit hereby commits to contribute a monetary amount equal to Five Percent (5%) of the amount of real property taxes abated in each applicable calendar year pursuant to the Tax Abatement to the Franklin Community School Corporation.
Sample 1
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Contribution to the Franklin Community School Corporation. Beginning on the first January 1 subsequent to the completion of the facilities and operations of Cold Summit on the Real Estate, and each subsequent January 1 thereafter, Cold Summit hereby commits to contribute a monetary amount equal to Five Percent (5%) of the gross assessed value of the Real Estate (prior to any deductions and/or abatements) to the Franklin Community School Corporation.
Sample 1

Related to Contribution to the Franklin Community School Corporation

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