Common use of Payment Trigger Clause in Contracts

Payment Trigger. The first year (“Year One”) of payment of Tax Increment from the School District to the Agency shall be determined by the Agency, but the Agency agrees to trigger the Project Area for collection no later than by March 1, 2024; this means that Year One will be no later than 2024. Each subsequent year, beginning with the first year after Year One, shall be defined in sequence as Year Two through Year Twenty. The Agency may trigger the collection of Tax Increment by timely delivering a letter or other written request to the Salt Lake County Auditor’s office and providing notice of intent to trigger collection of tax increment to the Taxing Entities.

Payment Trigger. The first year (“Year One”) of payment of Tax Increment from the School District to the Agency shall be determined by the Agency, but the Agency agrees to trigger the Project Area for collection no later than by March 1, 2024; this means that Year One will be no later than 2024. Each subsequent year, beginning with the first year after Year One, shall be defined in sequence as Year Two through Year Twenty. The Agency may trigger the collection of Tax Increment by timely delivering a letter or other written request to the Salt Lake County Auditor’s office and providing notice of intent to trigger collection of tax increment to the Taxing Entities.

Payment Trigger. The first year (“Year One”) of payment of Tax Increment from the School District to the Agency shall be determined by the Agency, but the Agency agrees to will trigger the Project Area for collection no later than by March 1, 2024; this means that Year One will be no later than 2024. Each subsequent year, beginning with the first year after Year One, shall be defined in sequence as Year Two through Year Twenty. The Agency may trigger the collection of Tax Increment by timely delivering a letter or other written request to the Salt Lake County Auditor’s office and providing notice of intent to trigger collection of tax increment to the Taxing Entitiestaxing entities.