Common use of Payee Clause in Contracts

Payee. As long as the Facility is owned by the Agency or leased by the Company to the Agency, or under the Agency’s jurisdiction, control or supervision, the Company agrees to pay annually to the Agency as a payment in lieu of taxes, on or before February 1 of each calendar year for County and Town taxes and on or before October 1 of each calendar year for School taxes (collectively, the “Payment Date”) for School, County and Town Taxes, respectively, an amount equal to the Total PILOT payment, which is defined and set forth within Schedule A, hereto. The parties agree and acknowledge that payments made hereunder are to obtain revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are not on the tax rolls.

Payee. As long as the Facility is owned by the Agency or leased by the Company to the Agency, or under the Agency’s jurisdiction, control or supervision, the Company agrees to pay annually to the Agency as a payment in lieu of taxes, on or before February 1 of each calendar year for County beginning February 1, 2025, and Town taxes and on or before October thereafter February 1 of each calendar year for School taxes during the term hereof (collectively, the “Payment Date”) for School, County and Town Taxes, respectively, an amount equal to the Total PILOT payment, which is defined and set forth within Schedule A, hereto. The parties agree and acknowledge that payments made hereunder are to obtain revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are not on the tax rolls.

Payee. As long as the Facility is owned by the Agency or leased by the Company to the Agency, or under the Agency’s jurisdiction, control or supervision, the Company agrees to pay annually to the Agency as a payment in lieu of taxes, on or before February 1 of each calendar year for County beginning February 1, 2024, and Town taxes and on or before October thereafter February 1 of each calendar year for School taxes during the term hereof (collectively, the “Payment Date”) for School, County and Town Taxes, respectively, an amount equal to the Total PILOT payment, which is defined and set forth within Schedule A, hereto. The parties agree and acknowledge that payments made hereunder are to obtain revenues for public purposes, and to provide a revenue source that the Affected Tax Jurisdictions would otherwise lose because the subject parcels are not on the tax rolls.