PILOT Payments definition

PILOT Payments has the meaning ascribed to such term in Section 5.1 of the Lease Agreement.

PILOT Payments means the payments in lieu of taxes provided for in Article III hereof.

PILOT Payments means the payments in lieu of property taxes to be made with respect to the Project under the Incentive Agreements, including, but not limited to, any annual fees payable to the County or any department, official, treasurer, assessor, clerk, appraiser, accountant or legal counsel thereof and any fees payable to the Bond Trustee under the Incentive Agreements.

Examples of PILOT Payments in a sentence

• PILOT Payments shall be allocated among the Taxing Authorities in proportion to the amount of real property tax and other taxes which would have been received by each Taxing Authority if the Facility was owned by the Company exclusive of the Agency’s leasehold interest.

• Under the NJ PILOT Law, commencing in 2017 and for a period of ten (10) years, each Atlantic City casino gaming property (as defined in the NJ PILOT Law) is required to pay its prorated share of an aggregate amount of PILOT Payments based on an equal weighted formula that includes the following criteria: the gross gaming revenues ("GGR") of the casino, the total number of hotel guest rooms and the geographic footprint of the real property owned by each casino gaming property.

• For calendar year 2017, the aggregate amount of PILOT Payments owed to the City of Atlantic City by Atlantic City casino gaming properties was $120 million, prorated among casino properties based upon the above factors.

• Commencing in 2018 and for each year thereafter, the aggregate amount of PILOT Payments owed is determined based on a sliding scale of Atlantic City casino industry GGR from the applicable prior year, subject to certain adjustments.

• The amounts of such PILOT Payments are set forth in Exhibit C attached hereto.

More Definitions of PILOT Payments

PILOT Payments means the payments in lieu of taxes provided for in Section 3.2 hereof and shown on Exhibit B hereto.

PILOT Payments means payments in lieu of ad valorem real property taxes made pursuant to a PILOT Agreement.

PILOT Payments. Any rents and other amounts required to be paid by the related Borrower(s) under the PILOT Lease.

PILOT Payments means the payment in lieu of taxes that the Borrower is required to make under certain circumstances pursuant to Section 4.07 of the Redevelopment Contract.

PILOT Payments means all amounts that are required to be paid by or on behalf of Borrower, any Borrower Affiliated Tenant (including, without limitation, PUREgraphite Tenant), and/or their respective successors and/or assigns, as applicable, pursuant to any of the PILOT Documents, including, without limitation, any PILOT Clawback Liabilities.

PILOT Payments means the “Developer PILOT Payments” as specified in the Redevelopment Agreement.

PILOT Payments means the payments in lieu of taxes provided for in Article III. “Project” means, collectively, the Project Site and the Project Improvements.