PILOT Term definition

PILOT Term means the number of years for which a PILOT is approved for a Project under the PILOT Program.

PILOT Term means the period of time, in years, during which a PILOT incentive is in effect pursuant to a Lease Agreement.

PILOT Term means the number of years for which a PILOT is approved for a Project under the PILOT Program and shall commence upon expiration of the Construction Period.

Examples of PILOT Term in a sentence

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Additional Improvements (the “Additional Improvements PILOT”) as follows: for each semi-annual period occurring during the PILOT Term, the Additional Improvements PILOT shall equal the Adjusted PILOT Amount with respect to such Additional Improvements for such semi-annual period.

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Project Improvements (the “Project Improvements PILOT”) in the amounts described below.

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Land (“Land PILOT”) in the amounts described below.

• During the PILOT Term, the Lessee shall pay PILOT with respect to the Existing Improvements (the “Existing Improvements PILOT”) in the amounts described below.

• If the Project is (i) a manufacturing project with $75,000,000 or more in tangible personal property, or (ii) a Project with 75% of its total Capital Investment in manufacturing machinery or equipment tangible personal property, and the PILOT Recipient spends an amount between 35% and 44% of hard construction costs and site work plus an additional amount between 25% and 34% of real property PILOT savings and an amount greater than or equal to 15% of personal property PILOT savings over the PILOT Term.

More Definitions of PILOT Term

PILOT Term shall have the meaning set forth in the Agency Lease.

PILOT Term means ten (10) years for which a PILOT is approved for a Project under the Fast Track PILOT Program, unless extended by a term of up to two (2) years under the Local Business Participation Program set forth herein.

PILOT Term means the period commencing upon the effective date of ---------- the Facility Agreement and ending twenty years after Substantial Completion of the Facility.

PILOT Term means what is defined as “Term” in accordance with Section 9 of the Pilot Agreement.

PILOT Term means the initial two (2) Years of the Commercial Term.

PILOT Term means the number of years for which a PILOT is approved for a Project under the Sewer Capacity Management Incentive Program.‌‌

PILOT Term. The eighteen year period following the Effective Date when the PILOT Payments pursuant to this Agreement and described in Schedule 1 are in effect. As allowed under Section B-9 the COMPANY has the option to convert the PILOT Payment Term and the Exemption Term into a seventeen-year period.