M&O Amount definition
Examples of M&O Amount in a sentence
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of this Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Property.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of the Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Investment/Qualified Property.
Notwithstanding any other provision in this Agreement, the M&O Amount owed by Applicant to District means the Original M&O Revenue minus the New M&O Revenue.
Notwithstanding any other provision in this Agreement, the M&O Amount owed by Applicant to District for each Tax Year starting in the year of the Application Review Start Date and ending on the Final Termination Date means the Original M&O Revenue minus the New M&O Revenue.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of this Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Investment/Qualified Property.
Applicant shall pay to the District the Floor Revenue Payment on or before January 31 next following the year that the M&O Amount was calculated, the same as all other payments under this Agreement that become due.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue Protection Amount suffered by the District as a result of the Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District for losses in Maintenance and Operations Revenue resulting from any change in the timing of construction and/or any change to the Qualified Investment/Qualified Property.
Notwithstanding any other provision in this Agreement, the M&O Amount owed by Applicant to District for each Tax Year starting in the year of the Application Review Start Date and ending on the Final Termination Date means the Original M&O Revenue PLQXV the New M&O Revenue.
As such, Applicant acknowledges that it will bear any and all losses of Maintenance and Operations Revenue suffered by the District as a result of this Agreement, including without limitation any increase in the M&O Amount calculated under Section 4.2 to be paid to the District resulting from any change in the timing of construction and/or any change to the Qualified Property.
In the event that the M&O Amount (also known as the revenue protection payment as set out in TEXAS EDUCATION CODE Section 48.256(d)) for any Tax Year during the Limitation Period of this Agreement, beginning with the second Tax Year of the Tax Limitation Period, shall exceed the Applicant’s Net Tax Benefit for that Tax Year, the M&O Amount owed for that year shall be limited to the Applicant’s Net Tax Benefit for that Tax Year.