Statutory Cap definition

Statutory Cap means the maximum amount of sales and use tax exclusion the Authority may grant pursuant to Section 26011.8(h) of the Public Resources Code.
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Statutory Cap has the meaning provided in Section 3.4(g).
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Examples of Statutory Cap in a sentence

  • Notwithstanding anything to the contrary herein, the payments of Pledged Tax Abatements under this paragraph in each year may not exceed the Statutory Cap (as defined in the Agreement) and the payment on each Payment Date shall be subject to the qualification described in Section 3.11 of the Agreement in the case of a pending Tax Appeal.

  • Notwithstanding anything to the contrary herein, the payments of Pledged Tax Abatements under this paragraph in each year may not exceed the Statutory Cap described in paragraph (5) of this Section and the payment on each Payment Date shall be subject to the qualification described in Section 3.11 in the case of a pending Tax Appeal (as defined in Section 3.11).

  • Notwithstanding anything to the contrary herein, the payments of Pledged Tax Abatements under this paragraph in each year may not exceed the Statutory Cap described in paragraph (5) of this Section and total payments of principal under the Tax Abatement Note over its term shall not exceed $3,000,000, which is the maximum amount of Tax Abatements set forth in the Tax Abatement Program.

  • Notwithstanding anything to the contrary herein, the Tax Abatement payments under this paragraph in each year may not exceed the Statutory Cap described in paragraph (e) of this Section and the payment on each Payment Date shall be subject to the qualification described in Section 3.12 in the case of a pending Tax Appeal.

  • Notwithstanding anything to the contrary herein, the Tax Abatement payments under this paragraph in each year may not exceed the Statutory Cap (as defined in the Agreement) and the payment on each Payment Date shall be subject to the qualification described in Section 3.7 of the Agreement in the case of a pending Tax Appeal.

  • Notwithstanding anything to the contrary herein, the Tax Abatement payments under this paragraph in each year may not exceed the Statutory Cap described in paragraph (5) of this Section and the payment on each Payment Date shall be subject to the qualification described in Section 3.7 in the case of a pending Tax Appeal.

  • Notwithstanding anything to the contrary herein, the Tax Abatement payments under this paragraph in each year may not exceed the Statutory Cap (as defined in the Agreement) and the payment on each Payment Date shall be subject to the qualification described in Section 3.12 of the Agreement in the case of a pending Tax Appeal.

Related to Statutory Cap

  • Regulatory Capital means the capital requirement specified in Article 11;

  • Regulatory Capital Requirements means any applicable capital resources requirement or applicable overall financial adequacy rule required by the Relevant Regulator, as such requirements or rule are in force from time to time;

  • Asset Coverage Ratio means the ratio, determined on a consolidated basis, without duplication, in accordance with GAAP, of (a) the Value of total assets of the Borrower and its Subsidiaries, less all liabilities (other than Indebtedness, including Indebtedness hereunder) of the Borrower and its Subsidiaries, to (b) the aggregate amount of Indebtedness of the Borrower and its Subsidiaries.

  • Asset Coverage means asset coverage, as determined in accordance with Section 18(h) of the 1940 Act, of at least 200% with respect to all outstanding senior securities of the Trust which are stock, including all Outstanding Series B Preferred Shares (or such other asset coverage as may in the future be specified in or under the 1940 Act as the minimum asset coverage for senior securities which are stock of a closed-end investment company as a condition of declaring dividends on its common stock), determined on the basis of values calculated as of a time within 48 hours (not including Saturdays, Sundays or holidays) next preceding the time of such determination.

  • Liability Cap has the meaning ascribed to it in paragraph 1 of Schedule 9;