PILOT Agreements definition
Examples of PILOT Agreements in a sentence
The City agrees to cooperatively work with the Developer on permitting and entitlements, providing access and construction easements, utility extensions and future special assessment districts for water/sewer infrastructure funding and connection rights, and additionally, to assist Developer to identify funding sources and mechanisms such as TIF/SAD and/or PILOT Agreements for necessary land acquisitions and for construction of the Improvements.
Other than as contemplated by the PILOT Agreements and the Participation Agreement, none of the Real Property is subject to any lease, sublease, license or other agreement granting to any person (other than the Borrower and the Co-Participants) any right to the use, occupancy, possession or enjoyment of the Real Property or any portion thereof.
This Agreement supersedes and replaces any prior PILOT Agreements to the extent they purport to pertain to, control or affect the County’s rights to receive, or actual receipt of, PILOT monies.
Upon the execution and delivery of such amendment to the PILOT Agreements, the Borrower shall execute such documents as may be reasonably required to subject the Borrower’s interest in the Retained Easement to the Lien of the Mortgage and provide any reasonably requested date-down endorsements.
If the Seller makes the offer described in the preceding sentence and the other parties to the PILOT Agreements do not accept such offer, the Seller shall not be obligated to consummate the transactions contemplated by the Operative Documents if any consent of the parties to the PILOT Agreements required to consummate the transactions contemplated by this Agreement is not 42 48 obtained on or prior to the end of the 90-day period specified in Section 10.1(a) hereof.