Negotiated Payments. (a) The Company shall make Fee Payments on all Economic Development Property comprising each Phase of the Project.
Negotiated Payments. Pursuant to Section 12-44-50 of the Act, the Company is required to make payments in lieu of ad valorem taxes to the County with respect to the Project. Inasmuch as the Company anticipates the Project will involve an initial investment of sufficient sums to qualify to enter into a fee in lieu of tax arrangement under Section 12-44- 50(A)(1) of the Act, and to meet the investment representation of Section 2.2(e), hereof, the County and the Company have negotiated the FILOT Payments as provided herein. In accordance therewith, the Company shall make payments in lieu of ad valorem taxes on all real and personal property which comprises the Project and is placed in service, as follows: the Company shall make payments in lieu of ad valorem taxes with respect to each Phase of the Project placed in service on or before each December 31 through and including the end of the Investment Period, said payments to be made annually and to be due and payable and subject to penalty assessments on the same dates and in the same manner as prescribed by the County for ad valorem taxes until each Phased Termination Date. The amount of such equal annual payments in lieu of taxes shall be determined by the following procedure (subject, in any event, to the required procedures under the Act):
Negotiated Payments. (a) Pursuant to Section 12-44-50 of the Act, the Company is required to make payments in lieu of ad valorem taxes to the County with respect to the Economic Development Property. Inasmuch as the Company anticipates an initial investment of sums sufficient for the Project to qualify for a fee in lieu of tax arrangement under Section 12-44-50(A)(1) of the Act, the County and the Company have negotiated the amount of the FILOT Payments in accordance therewith. The Company shall make FILOT Payments on all Economic Development Property which comprises the Project and is placed in service, as follows: the Company shall make FILOT Payments during the Exemption Period with respect to the Economic Development Property or, if there are Phases of the Economic Development Property, with respect to each Phase of the Economic Development Property, said payments to be made annually and to be due and payable and subject to penalty assessments on the same dates and in the same manner as prescribed by the County for ad valorem taxes. The determination of the amount of such annual FILOT Payments shall be in accordance with the following procedure (subject, in any event, to the procedures that the Act requires):
Negotiated Payments. Payment schedules may be negotiated by Contractor only with prior approval from Purchaser. This consent may be accomplished by a prior written agreement in which specific parameters are established. Contractor will monitor and collect all payments.
Negotiated Payments. (a) The Company shall make FILOT Payments on all Economic Development Property comprising the Project and placed in service, as follows: the Company elects to make annual FILOT Payments with respect to each Phase of the Project placed in service on or before each December 31 through December 31, 2009, pursuant to Section 12-44-50(A)(1) of the Act, said payments to be made annually and to be due and payable and subject to penalty assessments on the same dates and in the same manner as prescribed by the County for ad valorem taxes. The parties agree that the equal annual stream of FILOT Payments to be paid under Section 12-44-50(A)(3) of the Act for the first 20 years for each Phase (the “NPV Years”) must produce a net present value amount that is the same as if the FILOT Payments for the first 20 years for each Phase were calculated in accordance with Section 12-44-50(A)(1) of the Act. The discount rate for the calculation of net present value in all cases for the first 20 years for each Phase is provided in Exhibit A. In addition, the parties agree that the FILOT Payments for the 10 years succeeding the NPV Years for each Phase (the “Non-NPV Years”) shall be calculated in accordance with Section 12-44- 50(A)(1) of the Act.
Negotiated Payments. (a) Pursuant to Section 12-44-50 of the Act, the Company is required to make FILOT Payments on all Economic Development Property comprising the Project and placed in service, as follows: (i) the Company shall make FILOT Payments in lieu of ad valorem taxes with respect to each Phase of the Project placed in service on or before each December 31 within the Investment Period.
Negotiated Payments. (a) The Company shall make FILOT Payments on all Economic Development Property comprising the Project and placed in service, as follows: the Company elects to make equal annual FILOT Payments with respect to each Phase of the Project placed in service on or before each December 31 through December 31, 2017, pursuant to Section 12-44-50(A)(3) of the Act, said payments to be made annually and to be due and payable and subject to penalty assessments on the same dates and in the same manner as prescribed by the County for ad valorem taxes. The parties agree that the equal annual stream of FILOT Payments to be paid under Section 12-44-50(A)(3) of the Act must produce a net present value amount that is the same as if the FILOT Payments were calculated in accordance with Section 12-44- 50(A)(1) of the Act. The discount rate for the calculation of net present value in all cases is provided in Exhibit B.
Negotiated Payments. Pursuant to Section 12-44-50 of the Act, the Company is required to make payments to the County with respect to the Project in lieu of ad valorem taxes. Inasmuch as the Company anticipates the Project will involve an initial investment of sufficient sums to qualify as a “minimum investment” as defined under the Act, the County and the Company have negotiated the amount of the payments in lieu of taxes in accordance therewith. In accordance therewith, the Company shall make payments in lieu of ad valorem taxes on all real and personal property which comprises the Project and is placed in service for a period of thirty (30) years with respect to each Phase until the Phase Termination Date for such Phase, as follows: the Company shall make payments in lieu of ad valorem taxes with respect to each Phase of the Project placed in service on each December 30 through the end of the Investment Period, said payments to be made annually and to be due and payable and subject to penalty assessments on the same dates and in the same manner as prescribed by the County for ad valorem taxes. The amount of such equal annual payments in lieu of taxes shall be determined by the following procedure (subject, in any event, to the required procedures under the Act):
Negotiated Payments. The Parties acknowledge and agree that Detail Fees, Quarterly Governance Fees, Quarterly Health System Fees, Performance Bonuses, Details Bonuses, the Media Buy Fee, Royalty Payments and other compensation paid by Exact to Pfizer in connection with this Agreement, even where calculated as a percentage of Laboratory Service Revenue, were negotiated at arm’s length and are intended to represent fair, equitable and market value compensation for the entirety of services provided by Pfizer to Exact hereunder.
