Common use of Period of Benefits Clause in Contracts

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 School District tax year through the 2038-2039 School District tax year, and (ii) the 2025 County and Town tax years through the 2039 County and Town tax years. This Tax Agreement shall expire on December 31, 2039; provided, however, the Company shall pay (i) the 2039-40 School District tax bill, and (ii) the 2040 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 3 contracts

Samples: Project Agreement, Tax Agreement, Tax Agreement

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Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 School District tax year through the 20382033-2039 2034 School District tax year, and (ii) the 2025 County and Town tax years through the 2039 2034 County and Town tax years. This Tax Agreement shall expire on December 31, 20392034; provided, however, the Company shall pay (i) the 20392034-40 35 School District tax bill, and (ii) the 2040 2035 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 2 contracts

Samples: Tax Agreement, Tax Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include for the Land and Improvements for (i) the 2024-25 School District 2024 County and Town tax year through the 2038-2039 School District tax 2038 County and Town Tax year, and (iiiii) the 2025 County and Town 2023/2024 School tax years year through the 2039 County and Town 2037/2038 School tax yearsyear. This Tax PILOT Agreement shall expire on December 31, 20392038; provided, however, the Company shall pay (i) the 2039-40 School District tax bill, and (ii) the 2040 2039 County and Town tax bills bill and the 2038/2039 School tax bill on the dates and in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b b, 485-e and 487 of the New York Real Property Tax Law (“RPTL”). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 2 contracts

Samples: Agent and Financial Assistance and Project Agreement, Agent and Financial Assistance and Project Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include include: (i) the 2024-25 School District 2022 County tax year through the 2038-2039 School District 2026 County tax year, year and (ii) the 2025 County and Town 2021-2022 City tax years year through the 2039 County and Town 2025- 2026 City tax yearsyear. This Tax Agreement shall expire on December 31June 30, 2039; provided, however, 2026 (with the understanding that the Company shall pay (i) will be making a payment hereunder for the 20392027 County tax year and the 2026-40 School District 2027 City tax bill, and (ii) the 2040 County and Town tax bills on the dates and year in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years). In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law (“RPTL”); provided, the foregoing shall not be interpreted to limit the Company and Agency from subsequently agreeing to additional benefits based upon commitments to make additional improvements or changes in use from time to time between the Agency and the Company. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 2015/2016 School District tax year through the 2038-2039 2029/2030 School District tax year, and (ii) the 2025 2016 County and Town tax years year through the 2039 2030 County and Town tax yearsyear. This Tax PILOT Agreement shall expire on December 31, 20392030; provided, however, the Company shall pay (i) the 2039-40 2030/2031 School District tax bill, xxxx and (ii) the 2040 2031 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax PILOT Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law ("RPTL"). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 2023/2024 School District tax year through the 2038-2039 2052/2053 School District tax year, and (ii) the 2025 2024 County and Town City tax years through the 2039 2053 County and Town City calendar tax years. This Tax PILOT Agreement shall expire on December 31, 2039; 2053 provided, however, the Company shall pay (i) the 2039-40 2053/2054 School District tax bill, bill and (ii) the 2040 2054 County and Town City tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law ("RPTL"). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include (i) the 20242021 County tax year through the 2040 County tax year, (ii) the 2020-25 2021 City tax year through the 2039-2040 City tax year and (iii) the 2020-2021 School District tax year through the 20382039-2039 2040 School District tax year, and (ii) the 2025 County and Town tax years through the 2039 County and Town tax years. This Tax Agreement shall expire on December 31, 20392040; provided, however, the Company shall pay (i) the 20392041 County tax bill, (ii) the 2040-40 School District 2041 City tax bill, and (iiiii) the 2040 County and Town 2040-2041 School District tax bills bill on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 2025/2026 School District tax year through the 2038-2039 2054/2055 School District tax year, and (ii) the 2025 2026 County and Town City tax years through the 2039 2055 County and Town City calendar tax years. This Tax PILOT Agreement shall expire on December 31, 2039; 2055 provided, however, the Company shall pay (i) the 2039-40 2055/2056 School District tax bill, bill and (ii) the 2040 2056 County and Town City tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law ("RPTL"). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 School District tax year through the 2038-2039 School District tax year, and (ii) the 2025 County and Town tax years year through the 2039 County and Town tax yearsyear. This Tax Agreement shall expire on December 31, 2039; provided, however, the Company shall pay (i) the 2039-40 School District tax bill, and (ii) the 2040 County and Town tax bills bill on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 2025 School District tax year through the 2038-2039 School District tax year, and (ii) the 2025 County and Town tax years year through the 2039 County and Town tax yearsyear. This Tax Agreement shall expire on December 31, 2039; provided, however, the Company shall pay (i) the 2039-40 2039- 2040 School District tax bill, and (ii) the 2040 County and Town tax bills bill on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 20242025-25 26 School District tax year through the 20382044-2039 2045 School District tax year, and (ii) the 2025 2026 County and Town tax years through the 2039 2045 County and Town tax years. This Tax Agreement shall expire on December 31, 20392045; provided, however, the Company shall pay (i) the 20392045-40 46 School District tax bill, and (ii) the 2040 2046 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include for the Land and Improvements for (i) the 2024-25 School District tax year through the 2038-2039 School District tax year, and (ii) the 2025 County and Town tax years through the 2039 2034 County and Town Tax years, and (iii) the 2024/2025 School tax yearsyear through the 20333/2034 School tax year. This Tax PILOT Agreement shall expire on December 31, 20392034; provided, however, the Company shall pay (i) the 2039-40 School District tax bill, and (ii) the 2040 2035 County and Town tax bills and the 2034/2035 School tax bill on the dates and in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b b, 485-e and 487 of the New York Real Property Tax Law (“RPTL”). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Agent and Financial Assistance and Project Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include for the Land and Improvements for (i) the 2024-25 School District tax year through the 2038-2039 School District tax year, and (ii) the 2025 2026 County and Town tax years through the 2039 2035 County and Town Tax years, and (iii) the 2025/2026 School tax yearsyear through the 2034/2035 School tax year. This Tax PILOT Agreement shall expire on December 31, 20392035; provided, however, the Company shall pay (i) the 2039-40 School District tax bill, and (ii) the 2040 2036 County and Town tax bills and the 2035/2036 School tax bill on the dates and in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b b, 485-e and 487 of the New York Real Property Tax Law (“RPTL”). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Agent and Financial Assistance and Project Agreement

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Period of Benefits. The tax benefits provided for herein should shall be deemed to include include: (i) the 2024-25 School District 2024 County tax year through the 2038-2039 School District 2033 County tax year, year and (ii) the 2025 County and Town 2023-2024 City tax years year through the 2039 County and Town 2032- 2033 City tax yearsyear. This Tax Agreement shall expire on December 31, 2039; provided, however, 2033 with the understanding that the Company shall pay (i) will be making a payment hereunder for the 20392034 County tax year and the 2033-40 School District 2034 City tax bill, and (ii) the 2040 County and Town tax bills on the dates and years in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years). In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law (“RPTL”); provided, the foregoing shall not be interpreted to limit the Company and Agency from subsequently agreeing to additional benefits based upon commitments to make additional improvements or changes in use from time to time between the Agency and the Company. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 2023/2024 School District tax year through the 2038-2039 2042/2043 School District tax year, and (ii) the 2025 2024 County and Town tax years through the 2039 2043 County and Town tax years. This Tax Agreement shall expire on December 31, 20392043; provided, however, the Company shall pay (i) the 2039-40 2043/2044 School District tax bill, and (ii) the 2040 2044 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, effect which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include for the Land and Existing Improvements, if any (i) the 2024-25 School District 2013 County and Town tax year through the 2038-2039 School District tax 2033 County and Town Tax year, and (ii) the 2025 County and Town 2012/2013 School tax years year through the 2039 County and Town 2032/2033 School tax yearsyear. This Tax PILOT Agreement shall expire on December 31, 20392033; provided, however, the Company shall pay (i) the 2039-40 School District tax bill, and (ii) the 2040 2034 County and Town tax bills bill and the 2033/2034 School tax bill on the dates and in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b and 485-e of the New York Real Property Tax Law (“RPTL”). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Agent and Financial Assistance and Project Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include include: (i) the 2024-25 School District 2023 County tax year through the 2038-2039 School District 2054 County tax year, year and (ii) the 2025 County and Town 2022-2023 City tax years year through the 2039 County and Town 2053-2054 City tax yearsyear. This Tax Agreement shall expire on December 31, 2039; provided, however, 2054 (with the understanding that the Company shall pay (i) will be making a payment hereunder for 2055 County tax year and the 20392054-40 School District 2055 City tax bill, and (ii) the 2040 County and Town tax bills on the dates and year in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years). In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law (“RPTL”); provided, the foregoing shall not be interpreted to limit the Company and Agency from subsequently agreeing to additional benefits based upon commitments to make additional improvements or changes in use from time to time between the Agency and the Company. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should shall be deemed to include include: (i) the 2024-25 School District 2024 County tax year through the 2038-2039 School District 2038 County tax year, year and (ii) the 2025 County and Town 2023-2024 City tax years year through the 2039 County and Town 2037- 2038 City tax yearsyear. This Tax Agreement shall expire on December 31, 2039; provided, however, 2038 (with the understanding that the Company shall pay (i) will be making a payment hereunder for the 20392039 County tax year and the 2038-40 School District 2039 City tax bill, and (ii) the 2040 County and Town tax bills on the dates and year in the amounts as if the Agency were not in title on the tax status lien date with respect to said tax years). In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law (“RPTL”); provided, the foregoing shall not be interpreted to limit the Company and Agency from subsequently agreeing to additional benefits based upon commitments to make additional improvements or changes in use from time to time between the Agency and the Company. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 2024-25 School District and Village tax year years through the 20382043-2039 2044 School District and Village tax yearyears, and (ii) the 2025 County and Town tax years through the 2039 2044 County and Town tax years. This Tax Agreement shall expire on December 31, 20392044; provided, however, the Company shall pay (i) the 20392044-40 45 School District and Village tax billbills, and (ii) the 2040 2045 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility for more than the periods provided for herein, unless the period is extended by amendment to this Tax Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the RPTL. It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

Period of Benefits. The tax benefits provided for herein should be deemed to include (i) the 20242019-25 2020 School District tax year through the 20382048-2039 2049 School District tax year, and (ii) the 2025 2020 County and Town tax years through the 2039 2049 County and Town tax years. This Tax PILOT Agreement shall expire on December 31, 20392049; provided, however, the Company shall pay (i) the 20392049-40 2050 School District tax bill, xxxx and (ii) the 2040 2050 County and Town tax bills on the dates and in the amounts as if the Agency were not in title on the tax status date with respect to said tax years. In no event shall the Company be entitled to receive tax benefits relative to the Facility Leased Premises for more than the periods provided for herein, unless the period is extended by amendment to this Tax PILOT Agreement executed by both parties after any applicable public hearings. The Company agrees that it will not seek any tax exemption for the Facility while this Tax Agreement is in effect, Leased Premises which could provide benefits for more than the periods provided for herein and specifically agrees that the exemptions provided for herein, to the extent actually received (based on the number of lease years elapsed), supersede and are in substitution of the exemptions provided by Section 485-b of the New York Real Property Tax Law ("RPTL"). It is hereby agreed and understood that the Affected Tax Jurisdictions can rely upon and enforce the above waiver to the same extent as if they were signatories hereto.

Appears in 1 contract

Samples: Tax Agreement

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