Protection Against Loss of Future District Revenues. Section 4.1. INTENT OF THE PARTIES. Subject to the limitations contained in this Agreement (including Sections 4.11 and 7.1), it is the intent of the Parties that the District shall, in accordance with the provisions of TEXAS TAX CODE § 313.027(f)(1), be compensated by the Applicant for any loss that the District incurs in its Maintenance and Operations Revenue in each year of this Agreement for which this Agreement was the sole producing cause in accordance with the provisions and calculations described in Article IV of this Agreement. Such payments shall be independent of, and in addition to such other payments as set forth in Article VI in this Agreement. Subject only to the limitations contained in this Agreement, it is the intent of the Parties that the risk of any and all negative financial consequences to the District’s total annual Maintenance and Operations Revenue, to which the execution of this Agreement contributed in any matter, will be borne solely by Applicant and not by the District and be paid by the Applicant to the District in addition to any and all payments due under Article V and Article VI. The Parties agree that the printouts and projections produced during negotiations and approval of this agreement are for illustrative purposes only.
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Samples: Agreement for Limitation, Agreement for Limitation, Agreement for Limitation
Protection Against Loss of Future District Revenues. Section 4.1. INTENT OF THE PARTIES. Subject to the limitations contained in this Agreement (including Sections 4.11 and 7.1), it is the intent of the Parties that the District shall, in accordance with the provisions of TEXAS TAX CODE § 313.027(f)(1), be compensated by the Applicant for any loss that the District incurs in its Maintenance and Operations Revenue in each year of this Agreement for which this Agreement was the sole producing cause in accordance with the provisions and calculations described in Article IV of this Agreement. Such payments shall be independent of, and in addition to such other payments as set forth in Article VI in this Agreement. Subject only to the limitations contained in this Agreement, it is the intent of the Parties that the risk of any and all negative financial consequences to the District’s total annual Maintenance and Operations Revenue, to which the execution of this Agreement contributed in any matter, will be borne solely by Applicant and not by the District and be paid by the Applicant to the District in addition to any and all payments due under Article V and Article VI. The Parties agree that the printouts and projections produced during negotiations and approval of this agreement Agreement are for illustrative purposes only.
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