SUPPLEMENTAL PAYMENT LIMITATION Sample Clauses

SUPPLEMENTAL PAYMENT LIMITATION. A. The total of the Supplemental Payments made pursuant to this Article shall not exceed for any calendar year of this Agreement an amount equal to the greater of One Hundred Dollars ($100.00) per student per year in average daily attendance, as defined by Section 42.005 of the TEXAS EDUCATION CODE, or Fifty Thousand Dollars ($50,000.00) per year times the number of years beginning with the first complete or partial year of the Qualifying Time Period identified in Section 2.3.C and ending with the year for which the Supplemental Payment is being calculated minus all Supplemental Payments previously made by the Application;
Sample 1Sample 2See All (8)
SUPPLEMENTAL PAYMENT LIMITATION. A. Notwithstanding the foregoing, the total annual supplement payment made pursuant to this article shall:
Sample 1Sample 2Sample 3See All (7)
SUPPLEMENTAL PAYMENT LIMITATION. A. During the entire term of this Agreement, District shall, subject to the limitations set forth in Subsection 6.3(B) and Section 7.1, below, be entitled to receive supplemental payments equal to the amount in Section 6.2(A)(i) above.
Sample 1
SUPPLEMENTAL PAYMENT LIMITATION. Notwithstanding the foregoing: For each Tax Year beginning with the period starting the first full or partial year of the Qualifying Time Period (2021) and ending December 31 of the third year following the end of the Tax Limitation Period (2035), Supplemental Payments shall be owed. During the Qualifying Time Period only, the supplemental payment amount paid shall be reduced to 30% of the Supplemental Payment Amount owed under Section 6.2,D. The remaining balance of the Supplemental Payment reduced during the Qualified Time Period shall be carried forward from year-to-year until paid to the District. In the event that the amount otherwise due under Article V and VI of this Agreement for any Tax Year during the Tax Limitation Period of this Agreement shall exceed the Net Tax Benefit, the amount owed for that year shall be limited to the Net Tax Benefit for that Tax Year. Amounts otherwise due and owing by the Applicant to the District which, by virtue of the payment limitation in this Section 6.3, are not paid in that Tax Year, shall be carried forward from year to year into subsequent Tax Years until paid in full; provided that no payments shall be owed under this Article VI after the third Tax Year following the end of the Tax Limitation Period.
Sample 1
SUPPLEMENTAL PAYMENT LIMITATION. In any year during the term of this Agreement, the District shall not be entitled to receive Supplemental Payments that exceed the lesser of:
Sample 1
AutoNDA by SimpleDocs
SUPPLEMENTAL PAYMENT LIMITATION 
Sample 1Sample 2

Related to SUPPLEMENTAL PAYMENT LIMITATION

  • Supplemental Payments Applicant shall make annual Supplemental Payments in an amount equal to, but not to exceed, the limit of the annual Supplemental Payment as set out Section 6.2 below, starting with the first complete or partial year of the Qualifying Time Period and accruing on January 1 of each year thereafter, and continuing through the third year following the end of the Tax Limitation Period.

  • Supplemental Pay 1. Percent To Be of Individual Step

  • Rental Payments The Lessee agrees to pay annual rental for the Premises at a rate per year during the term of this Lease not to exceed One Million One Hundred Thousand Dollars ($1,100,000.00). Each such semi-annual installment, payable as hereinafter described, shall be based on the value of that portion of the Premises which is complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. The first rental installment shall be due on the later of (i) January 15, 2024; or (ii) the date on which a portion of the Premises is available for use and occupancy by the Lessee. Thereafter, such rental shall be payable in advance in semi‑annual installments on January 15 and July 15 of each year. The last semi‑annual rental payment due before the expiration of this Lease shall be adjusted to provide for rental at the yearly rate so specified from the date such installment is due to the date of the expiration of this Lease. All rentals payable under the terms of this Lease shall be paid by the Lessee to the trustee (the “Trustee”) under the trust indenture (the “Indenture”) securing the bonds to be issued by the Lessor to provide funds for the project on the Premises (such bonds, or bonds issued to refund such bonds, the “Bonds”). All payments so made by the Lessee shall be considered as payments to the Lessor of the rentals payable hereunder. After the sale of the Bonds, the annual rental shall be reduced to the multiple of $1,000 next higher than the principal and interest due in each twelve (12) month period commencing each year on June 30 payable in semi‑annual installments together with an amount sufficient to cover annual trustee fees and other administrative costs but not to exceed Five Thousand Dollars ($5,000). In addition, each such reduced semi-annual installment shall be based on the value of the portion of the Premises which is complete and ready for use and occupancy by the Lessee at the time such semi-annual installment is made. Such amount of adjusted rental shall be endorsed on this Lease at the end hereof in substantially the form of Exhibit B attached hereto by the parties hereto as soon as the same can be done after the sale of the Bonds, and such endorsement shall be recorded as an addendum to this Lease. The fixed annual rentals described in this Section 2 (the “Fixed Annual Rentals”) and the additional rentals described in Section 3 (the “Additional Rentals”) shall be payable solely from the budgeted revenues of the Lessee (the “Budgeted Revenues”). The Lessee may pay the Fixed Annual Rentals and the Additional Rentals or any other amounts due hereunder from any other revenues legally available to the Lessee; provided, however, the Lessee shall be under no obligation to pay any Fixed Annual Rentals or Additional Rentals or any other amounts due hereunder from any moneys or properties of the Lessee except the Budgeted Revenues received by the Lessee.

Time is Money Join Law Insider Premium to draft better contracts faster.