Payment Limitation definition

Payment Limitation means the lesser of, (i) $182,803,000, or (ii) the Applicable Percentage of the Total Estimated Project Value. “Total Estimated Project Value” shall mean, (a) as of the Effective Date, $428,325,606, and (b) as of any subsequent date on which a Requisition is submitted to ACC, an amount for the fair market value of the Site and the Project (“Fair Market Value”) determined by the ▇▇▇▇▇▇ County Board of Tax Assessors to exist. “Applicable Percentage” shall mean 29%. No reimbursement shall be made to the extent that the amount thereof, when combined with the amount of all prior reimbursements, exceeds in the aggregate the lesser of the Applicable Percentage of the then current Total Estimated Project Value, or $182,803,000. There are no assurances that the total Disbursements in the aggregate will reach the amount of the Payment Limitation, or any other amount.
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Payment Limitation is defined in Section 3.03.
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Payment Limitation means the lesser of, (i) $182,803,000, or (ii) the Applicable Percentage of the Total Estimated Project Value. “Total Estimated Project Value” shall mean,
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Examples of Payment Limitation in a sentence

  • Promptly after the occurrence of the Effective Date, the parties hereto shall execute the Acknowledgment attached as Schedule 8.1 hereto and incorporated herein by reference (the “Acknowledgment”), which shall evidence that the Effective Date has occurred and the date thereof and of the Expiration Date, and shall set forth the actual amount of the Payment Limitation.

  • The payment of all or any portion of any such Requisition will not cause the overall support from the TAD (taking into account all previously paid amounts in respect of the Requisitions, if any) to exceed the Payment Limitation.

  • The Supplemental Payments to the District shall not exceed the Supplemental Payment Limitation set out in Section 6.6 below, starting with the first complete or partial year of the Qualifying Time Period, and continuing through the 3rd year following the end of the Tax Limitation Period.

  • The total amount of all Supplemental Payments to the District shall not exceed the Supplemental Payment Limitation as set out in Section 6.6 below, with Supplemental Payments starting with the first complete or partial year of the Qualifying Time Period, and accruing on January 1st for each year thereafter, and continuing through the third year following the end of the Tax Limitation Period.

  • Notwithstanding anything in this Agreement to the contrary, it shall not be a breach of this Agreement if HII fails to make any Tax Benefit Payment when due because, and to the extent, of a Payment Limitation (but only for so long as such Payment Limitation continues); provided that the interest provisions of Section 5.02 shall apply to any such late payment (but the Default Rate shall be replaced by the Agreed Rate).

  • The Supplemental Payments to the District shall not exceed the Supplemental Payment Limitation set out in Section 6.2 below, starting with the first complete or partial year of the Qualifying Time Period, and continuing through the 3rd year following the end of the Tax Limitation Period.

  • The total amount of all Supplemental Payments to the District shall not exceed the Supplemental Payment Limitation as set out in Section 6.6 below, with Supplemental Payments starting with the first complete or partial year of the Qualifying Time Period and accruing on January 1st for each year thereafter, and continuing through the third year following the end of the Tax Limitation Period.

  • Upon the occurrence of a Change in Control, the Accounting Firm shall calculate the Gross-Up Payment Limitation.

  • The Supplemental Payments to the District shall not exceed the Supplemental Payment Limitation set out in Section 6.2 below, starting with the first complete or partial year of the Qualifying Time Period, and continuing through the third year following the end of the Tax Limitation Period.

  • If the Gross-Up Payment Limitation would be exceeded, then the gross-up payment of each employee, including Executive, shall be reduced pro rata so that the sum of all gross-up payments, including the Gross-Up Payment, will equal the Gross-Up Payment Limitation.


More Definitions of Payment Limitation

Payment Limitation means the total cost for specified goods and/or services as established in a contractual relationship with a third party.
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