Mitigation Payments Clause Samples
Mitigation Payments. (a) Following the Trust Acquisition Date, in order to mitigate the Impacts resulting from the Project, to fund certain police, fire protection, emergency medical and other services to be provided for the Project by the City, and as payments in lieu of taxes against all property (real and personal) and all activity that would otherwise be taxable by the City if the Subject Property were not acquired in trust, and as consideration for the City’s assistance and support of the Project as contemplated in this Agreement, the Tribe shall pay to the City the amounts set forth below for the applicable periods (the “Mitigation Payments”):
(1) For the period from the Trust Acquisition Date until the Opening Date, $125,000 per year payable in monthly installments;
(2) From and after the Opening Date, the greater of (a) the applicable Guaranteed Amount or (b) four percent (4%) of all Net Gaming Revenue.
(b) Prior to the Opening Date, Mitigation Payments shall be due and payable to the City monthly in arrears, on the last Business Day of each calendar month. On and after the Opening Date, any required Mitigation Payments shall be paid quarterly in arrears within 45 days after the last day of each calendar quarter commencing on the first such date to occur after the Opening Date; provided, however, that if by the terms of the Compact, the Tribe is required to make a payment to the Commonwealth based upon gaming revenue of the Project on a basis more frequently than quarterly, then the Tribe agrees to pay such Mitigation Payments to the City on a basis no less frequently than the Tribe is making such payments to the Commonwealth.
(c) On January 31 of each calendar year occurring after the Opening Date, the Tribe shall determine the aggregate Percentage Amounts paid to the City for the immediately preceding calendar year. If such amount is less than the Guaranteed Amount, prorated for any partial year, the Tribe shall pay to the City, no later than February 15 (or if such date is not a Business Day, then the Business Day immediately following February 15), an amount equal to the difference between such Guaranteed Amount and such aggregate Percentage Amounts.
(d) The City will not seek payments to be made after the Trust Acquisition Date from the Commonwealth of Virginia regarding the Project and to the extent the City receives any such payments through the Compact or otherwise, such amounts shall be credited towards the Mitigation Payments.
(e) If Gaming that meets the Min...
Mitigation Payments. In the event that a veteran tenant referred by The Pikes Peak Veteran Housing Fund abandons a unit with significant damages, breaks their lease, is evicted for non-payment of rent or repeated lease violations that result in a vacancy loss or any combination of these, the Fund will compensate the property owner for some costs beyond those covered by the security deposit, up to the maximum amount of $1000 -$2000 per unit size.
Mitigation Payments. Developer shall make economic mitigation payments (“Mitigation Payments”) to the County as provided below:
1. Mitigation Payments will be made by Developer to the ▇▇▇, acting on behalf of ▇▇▇▇▇▇ County, for administration by the ▇▇▇ as provided herein, for a period of twenty-five
Mitigation Payments. The Parties will seek to recoup any costs of mitigating a Project Impact from the insurance outlined in this MOU. The County and the Harbor shall, in a timely manner, fully cooperate with the Renewal Corporation, and its contractors, subcontractors, consultants and representatives, to submit such claims, documentation or other information as may be required to any one or more insurance carriers responding to such claim. Provided that the County and the Harbor shall, in a timely manner, fully cooperate with the Renewal Corporation, and its contractors, subcontractors, consultants and representatives, in the submission of such claims, documentation and other information as may be required by any one or more insurance carriers, if such claim or claims are denied, in whole or in part, by the insurance carriers, then the Renewal Corporation shall bear the cost of mitigating a Project Impact (or portion thereof) that is not covered by insurance.
Mitigation Payments. ▇▇▇▇▇▇▇▇▇ or the Except as set forth in paragraph 4.4.2, the New Airport shall make annual mitigation payments as set forth in paragraph 4.4.1 for all real property in ▇▇▇▇▇ County owned in fee simple by Denver for airport purposes, to ▇▇▇▇▇ County, or to any incorporated city within which the property such real property is located, and to the applicable school district. The mitigation payments shall be made to compensate the applicable jurisdiction for the fact that property will be owned for airport purposes, but will not produce revenue for the jurisdiction so long as it is held by ▇▇▇▇▇▇▇▇▇ or the New Airport.
Mitigation Payments. The Tribe recognizes that as a direct result of the Project, the City of Monroe will, and surrounding governmental entities may, experience increased demands on resources and infrastructure. In order to mitigate potential negative impacts upon the resources and infrastructure of the City of Monroe, and other surrounding governmental entities, the Tribe agrees that it shall compensate the City of Monroe in an amount equal to 2.0% of the Tribe’s Net Revenues as defined in this agreement from the gaming facility, subject to the conditions set forth in sub-paragraph B of this Paragraph 1, commencing at such time as all Legal Requirements are met and the operation is open for business. At such time the Advisory Committee completes the funding of all necessary services, projects, and activities impacted by the Project as set forth in Paragraph 2 of this Agreement and subject to the adjustment to the Mitigation Payment as provided for in sub-paragraph B of this Paragraph 1, Monroe shall, in turn, distribute any remaining portion of the net proceeds that Monroe acquires from the Tribe pursuant to this Agreement as follows: