Common use of Not a Pledge of Sales Tax Clause in Contracts

Not a Pledge of Sales Tax. Owner acknowledges that the City is not making a pledge of Sales Tax Revenues, or any other particular source of funds; the definition of Sales Tax Revenues, as used herein, is used merely as a measure of the amount payment due hereunder and as means of computing the City’s payment in consideration for the Covenants. It is acknowledged by Owner that the City’s obligation to make payments is specifically contingent upon receipt by the City of the Sales Tax Revenues derived from operation of the HSSO.

Not a Pledge of Sales Tax. Owner acknowledges that the City is not making a pledge of Sales Tax Revenues, or any other particular source of funds; the definition of Sales Tax Revenues, as used herein, is used merely as a measure of the amount payment due hereunder and as means of computing the City’s payment in consideration for the Covenants. It is acknowledged by Owner that the City’s obligation to make payments is specifically contingent upon receipt by the City of the Sales Tax Revenues derived from operation of the HSSOSales Office.

Not a Pledge of Sales Tax. Owner acknowledges that the City is not making a pledge of Sales Tax Revenues, or any other particular source of funds; the definition of Sales Tax Revenues, as used herein, is used merely as a measure of the amount payment due hereunder and as means of computing the City’s payment in consideration for the Covenants. It is acknowledged by Owner that the he City’s obligation to make payments is specifically contingent upon receipt by the City of the Sales Tax Revenues derived from attributable to operation of the HSSOOffice.