DEBT SERVICE REVENUE LOSS PAYMENT LIMITATION. For each Tax Year set Sample Clauses

DEBT SERVICE REVENUE LOSS PAYMENT LIMITATION. For each Tax Year set forth in the Section 4.3 Schedule of Minimum Property Values for which a payment is due (Tax Years 2024-2038, inclusive), Applicant shall not be required to make any payment pursuant to Sections 4.3 and 4.4, in excess of Fifty Percent (50%) of Applicant’s Net Tax Benefit, as defined in Section 1.2, above. This amount shall be calculated by the Third-Party designated under Section, 4.6, below and certified by the Third-Party in accordance with Section 4.11. In the event that such payment would exceed Fifty Percent (50%) of Applicant’s Net Tax Benefit, only payments to the District under Sections 4.3 and 4.4 shall be reduced under this Section. Payments due to the District required by Section 4.2 and Section 6.4 shall not be subject to this limitation. For any year for which the limitation imposed by this Section 4.5 is applicable, all amounts calculated under Sections 4.3 and 4.4 which remain unpaid by Applicant shall carry forward and be added to any amounts otherwise due under Sections 4.3. and 4.4 in future years, so long as the Limit set forth in this Section 4.5 has not been exceeded for the year in question. Any amounts unpaid after the application of this Section for Tax Year 2036, if any, will be deemed to have been cancelled.