Assessment Installment definition

Assessment Installment means, as to each Property, the portion of the principal amount of an Assessment, together with the interest on the Assessment, due and payable pursuant to an Assessment Contract that shall be collected on the property tax bill for a particular Tax Year pertaining to such Property.

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Assessment Installment means annual payments as provided for in the Assessment Agreement to be made by or on behalf of the Property Owner to repay the C-PACER Financing.

Assessment Installment means the unpaid installments of the assessment due and payable within the calendar year for which application for deferral is made, including interest attributable to the installment. If the amount of the assessment installment or any prior installment thereof has become delinquent at the time of the initial application for deferral, the term includes any delinquent installments and interest, penalties or costs imposed as a result of the delinquency, which amounts shall be considered payable in the calendar year for which claim for deferral is made.

Examples of Assessment Installment in a sentence

The Property Owner agrees, as provided in the Financing Agreement, to pay the amount due in installments according to the Assessment Schedule (each, an “Assessment Installment”), each such Assessment Installment to be paid by the Property Owner by its due date in order to avoid delinquencies and the accrual of interest and related penalties.
The obligation to pay the Assessment set forth in this Agreement is an obligation of the Property and no agreement or action of the Property Owner (other than repayment of the Assessment in full in accordance with the terms of the Financing Agreement) will impair in any way the Capital Provider’s right to pursue foreclosure of the C-PACER Lien or the right to enforce the collection of the Assessment or any Assessment Installment against the Property.
Failure to pay any Assessment Installment, like failure to pay any property tax pertaining to the Property, will result in penalties and interest accruing on the amounts due on the terms and provisions of the Financing Agreement, in addition to the accrual of delinquent interest and penalties that will be charged on the Assessment Installment in the same manner and at the same rate for delinquent property taxes as provided for by law.
Failure to pay any Assessment Installment, like failure to pay any property taxes pertaining to the Property, will result in penalties and interest and shall accrue in accordance with the terms and provisions of the Financing Agreement.
The obligation to pay the Assessment set forth in this Agreement is an obligation of the Property and no agreement or action of the Property Owner (other than repayment of the Assessment in full in accordance with the terms of the Financing Agreement) will impair in any way the right to pursue a tax sale with respect to the C-PACER Lien or the right to enforce the collection of the Assessment or any Assessment Installment against the Property.
Property Owner agrees that the Assessment will be included on the Property’s tax ▇▇▇▇ or stand-alone ▇▇▇▇ and agrees to repay all Assessment obligations which are due and payable to the Local Government on the date designated on the Property’s tax ▇▇▇▇ or stand-alone ▇▇▇▇ for payment of the Assessment Installment.
The obligation to pay the Assessment set forth in this Agreement is an obligation of the Property and no agreement or action of the Property Owner (other than repayment of the Assessment in full in accordance with the terms of the Financing Agreement) will impair in any way the right to pursue foreclosure of the C-PACER Lien or the right to enforce the collection of the Assessment or any Assessment Installment against the Property.
Failure to pay any Assessment Installment, like failure to pay any property taxes pertaining to the Property, will result in penalties and interest accruing on the amounts due on the terms and provisions of the Financing Agreement.
In the event there is a delinquency in the payment of any Assessment Installment, the City shall notify the Fiscal Agent for the purpose of determining the method of withdrawal from the Reserve Fund pursuant to Section 5.06(b) hereof.
Notwithstanding the foregoing, Metro shall not be personally liable for payment of the Assessment or an Assessment Installment as a result of Metro taking ownership of the Property at a delinquent tax sale as a result of no offers being made by bidders to purchase the Property.

More Definitions of Assessment Installment

Assessment Installment means, as to each Participating Parcel, the portion of the principal amount of the Assessment, together with the interest on the Assessment, due and payable pursuant to an Assessment Contract pertaining to such Participating Parcel.

Assessment Installment. Each “Assessment Installment” is the annual amount of the Assessment Amount and the interest thereon due under this Contract as further set forth in the Schedule of Annual Assessment Amounts below.

Assessment Installment means, as to the Assessment levied on each Parcel, the portion of the principal amount of the Assessment, together with the interest on the Assessment, due and payable pursuant to an Assessment Contract that shall be collected on the property tax bill pertaining to such Parcel.

Assessment Installment means the annual installments representing unpaid principal, accrued interest and the authorized and allocable portion of Administrative Expenses, placed on the property tax bill of each parcel within the Assessment District having an Unpaid Assessment.