Initial Bond Amount Clause Samples

Initial Bond Amount. The bond amount at the commencement of the term of this agreement will be $12,000,000 and shall remain as such until the TCC and Collector authorize a change in bond amount as noted in item (2) below. This represents the amount estimated by the TCC and Collector as the highest amount of Tax and Related Amounts Collector will hold at any one time during the first calendar year during which Collector collects Tax under this Agreement, including Tax and Related Amounts payable to the Taxing Authorities or Taxpayers within the TCD, and also Tax and Related Amounts payable to other than the Taxing Authorities, to Taxpayers outside the TCD, and to other tax collectors.