Base PILOT Amount definition

Base PILOT Amount. PILOT Charges (excluding amounts described in clauses (ii) and (iii) of the definition of PILOT Charges) for the PILOT Year commencing on July 1, 2015 and ending on June 30, 2016.
View Source
Base PILOT Amount means the PILOT Charges for the PILOT Year commencing on July 1, 2015 and ending on June 30, 2016; provided, that if the average annual increase in the Assessed Valuation of the Building for the 5 PILOT Years commencing with and including the First PILOT Comparison Year is more than 200 basis points greater than the average annual increase in the Assessed Valuation of the Tax Comparison Buildings (giving equal weight to each of the Tax Comparison Buildings) during the same period, then the Base PILOT Amount shall be increased to the amount necessary so that the average annual increase in the Assessed Valuation of the Building for such 5 PILOT Years shall be equal to the average annual increase in the Assessed Valuation of the Tax Comparison Buildings during such period plus 200 basis points, and Tenant’s PILOT Payments shall be adjusted as set forth in Section 4.06(g) below. By way of example only, if the Assessed Valuation of the Tax Comparison Buildings increases by an average of 5% per annum during such 5 PILOT Years, then the Base PILOT Amount will not be adjusted unless the Assessed Valuation of the Building during such period increased by an average of more than 7% per annum, and if so, then the Base PILOT Amount shall be adjusted to the amount necessary so that the average annual increase in the Building’s Assessed Valuation is equal to 7%.
View Source
Base PILOT Amount means the PILOT Amount payable by Landlord pursuant to the PILOT Agreement for the Tax Year commencing on July 1, 2021 (the “Base PILOT Year”) pursuant to the terms of the PILOT Agreement as in effect as of the Effective Date. “PILOT Amount” shall have the meaning ascribed to such term in the PILOT Agreement, as such PILOT Agreement is in effect on the Effective Date.
View Source

Examples of Base PILOT Amount in a sentence

  • Notwithstanding the foregoing, Tenant may delay its giving of the audit notices and examination of the Records with respect to the Base Operating Amount and Base PILOT Amount and, at Tenant’s election, with respect to the first Lease Year, until after Tenant has received the Base Lease Year Statement and the Operating Statement for calendar year 2017.

  • The Annual Base PILOT Amount for any PILOT Year following a PILOT Year during which the Maximum Electrical Output was first increased above 80 megawatts, shall be calculated as if the Maximum Electrical Output was increased on January 1 of the PILOT Year in which the Maximum Electrical Output was increased.

  • The Annual Base PILOT Amount -------------------------------- for the PILOT Year which is the later of (x) the year 2008 or (y) the PILOT Year during which the Company's initial prepaid gas supply from Noranda, Inc.


More Definitions of Base PILOT Amount

Base PILOT Amount means (i) the CCP PILOT payable by Landlord pursuant to the PILOT Agreement for the fourth (4th) Tax Year (the “Base PILOT Year”) following the Construction Period and (ii) the Annual Administration Fee payable by Landlord for the Building pursuant to the PILOT Agreement for the Base PILOT Year. “Construction Period” and “CCP PILOT” shall each have the meaning ascribed to such term in the PILOT Agreement.
View Source
Base PILOT Amount means the sum of [MATERIAL OMITTED AND FILED
View Source