FILOT Payments definition

FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided herein.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

FILOT Payments means the payments in lieu of taxes which the Company is obligated to pay to the County pursuant to Section 5.02 hereof.

FILOT Payments means the payments to be made by the Company pursuant to Section 5.01 hereof.

Examples of FILOT Payments in a sentence

The Company and, as applicable, any Sponsor Affiliate has no responsibility or obligation with regard to allocation of FILOT Payments.
If the Act is declared to be unconstitutional by a final court decision, then included in such contemplated reformation may be to retroactively convert the FILOT Payments to a “Big Fee Super Fee” under Title 4, Chapter 29 of the Code, or any successor or similar Code provisions that allows the same or comparable treatment of the Project as a “Big Fee Super Fee”, with the effective date of such conversion being the same as the date of this Fee Agreement.
The Company and, as applicable, any Sponsor Affiliate, shall make the above-described FILOT Payments directly to the County in accordance with applicable law as to payment, collection, and enforcement of FILOT Payments.
In addition to all other remedies herein provided, the nonpayment of FILOT Payments by the Company or, as applicable, any Sponsor Affiliate, as well as any payments required under Section 3.1 hereof, shall constitute a lien on the Project for tax purposes as provided in Section 12-44-90 of the Act.
In this regard, and notwithstanding anything in this Fee Agreement to the contrary, the County may exercise any and all remedies by general law (including, for example, Title 12, Chapter 49, of the Code) relating to the collection of ad valorem taxes to collect any FILOT Payments due hereunder.

More Definitions of FILOT Payments

FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided in Section 4.1 of this Fee Agreement.

FILOT Payments means the payments to be made by the Company or any Co- Investor with respect to its respective portion of the Project, whether made as Negotiated FILOT Payments pursuant to Section 5.01 hereof or as FILOT payments made pursuant to the Multi- County Park Act.

FILOT Payments means the payments to be made by the Sponsor pursuant to Section 4.2 hereof.

FILOT Payments means the payments to be made by the Company pursuant to Section

FILOT Payments means the payments to be made by the Company and/or any Company Affiliate pursuant to Section 5.01 hereof.

FILOT Payments means the Negotiated FILOT Payments.

FILOT Payments means the amount paid or to be paid in lieu of ad valorem property taxes as provided in Section 4.1.