Grant Quarter definition
Examples of Grant Quarter in a sentence
As a condition to the payment of each Phase I Grant Quarterly Installment or Phase II Quarterly Installment hereunder, the City shall have received a Sales Tax Certificate for the applicable Grant Quarter for which payment of a Phase I or II Quarterly Installment is requested.
The subsequent Agreement between the City and EPC to address the shortfall, if any, shall provide for an increase in the not-to-exceed $3,875,000.00 Maximum Phase II Grant Amount from the City's receipt of the one percent (1 %) Sales and Use Tax imposed by the City, pursuant to Chapter 321 of the Texas Tax Code, on the sale of Taxable Items by the Retailers Consummated at Phase II of the Project during the Phase II Term as well as extend the Phase II Grant Term beyond the fortieth (40th) Grant Quarter.
Given that the Comptroller's payment of Sales and Use Tax to the City is delayed by several months, each of the Phase I Quarterly Installments shall be limited to the Sales Tax Receipts: (1) generated by Phase I at any time during the Phase I Grant Term; and (2) actually received by the City from the Comptroller during the immediately preceding Phase I Grant Quarter.
Copies of any amended sales and use tax return or report or notification from the State of Texas that additional Sales and Use Tax is due and owing by EPC and or any Retailer to the State of Texas, as determined by the State of Texas, affecting Sales Tax Receipts for a previous Phase Grant Quarter shall be provided to the City with the Payment Request for the next applicable Phase Grant Quarter.