TDD Cap definition

TDD Cap means the limitation on the amount of TDD Sales Tax available to Developer for reimbursement of Eligible Expenses as set forth in Section 4.04(c) hereof. The TDD Cap is Twenty-One Million Dollars ($21,000,000).
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TDD Cap means $3,000,000 plus interest as provided in this Agreement.
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Examples of TDD Cap in a sentence

  • Subject to the terms and conditions set forth in Article V below, including the TDD Cap and other limitations set forth in Article V, the costs of the CID Improvements and TDD Improvements shall be reimbursed to Developer.

  • Subject to the terms and conditions of this Agreement, including without limitation, (x) the TDD Cap set forth in Section 4.03 below, and (y) the Administrative Fee set forth in Section 10.01 below, Developer shall be reimbursed for Eligible Expenses from and to the extent of the TDD Sales Tax proceeds collected during the Term.

  • The City hereby agrees that, subject to the TDD Cap, the Eligible Expenses incurred by Developer may be financed and reimbursed with Pay-As-You-Go TDD Financing, and payable from revenues received from the imposition of a TDD Sales Tax in the amount of one percent (1%) on the sale of tangible personal property at retail or rendering or furnishing services which are taxable pursuant to the Kansas Retailers' Sales Tax Act (K.S.A. 79- 3601 et seq.) within the District.

  • In no event will the reimbursement described hereunder exceed the TDD Cap.

  • After full satisfaction of KDOT, the Developer may receive TDD sales tax revenues for eligible project costs, up to a TDD Cap of $21M.

  • Subject to the TDD Cap, the costs of the TDD Improvements (except for the Interchange) may be reimbursed to Developer as set forth in Article V below.

  • Subject to the terms of this Agreement and the conditions in this Section and Section 6.02, the City agrees, solely and exclusively from the TDD Sales Tax, to reimburse Developer for TDD Costs in a total amount not to exceed the TDD Cap at the Actual Rate of Borrowed Funds.

  • Subject to the terms and conditions of this Agreement, including without limitation, (a) the TDD Cap set forth in Section 4.04 below, (b) the TDD Administrative Fee and (c) KDOT's rights to the first $11,000,000 of the TDD Sales Tax proceeds as set forth in Section 4.05(a) below, Developer shall be reimbursed for Eligible Expenses from and to the extent of the TDD Sales Tax proceeds collected during the Term.

  • Once the City has received its $850,000 and South Project Developer has been reimbursed to the South Project Cap, then Developer shall receive TDD Revenues generated from the South Project Area to pay TDD Costs in the North Project Area, subject to the TDD Cap.

  • Notwithstanding anything set forth herein to the contrary, under no circumstances shall any adjustment or readjustment of the TDD Cap or any CID Cap result in: (a) a TDD Cap in excess of the dollar amount of the TDD Cap stated in Section 4.04(b); (b) a CID Cap in excess of the dollar amount of the CID Cap stated in Section 5.04(a); or (c) an Aggregate Public/Private Ratio in excess of the Aggregate Limitation.

Related to TDD Cap

  • Required Capital Amount means $5,000,000.

  • Adjusted Capital means cumulative gross proceeds generated by the Corporation from sales of shares of Common Stock (including proceeds from the Corporation’s distribution reinvestment plan) reduced for amounts paid for share repurchases pursuant to the Corporation’s share repurchase program. The calculation of the Subordinated Incentive Fee on Income for each quarter is as follows:

  • Sub-Limit Defined in the Fee and Pricing Letter, which definition is incorporated herein by reference.

  • Contributed Capital at any time, the aggregate amount which shall theretofore have been received by the Borrower as a contribution to its capital or as consideration for the issuance of partnership interests in the Borrower; Contributed Capital shall in any event exclude the proceeds of any Specified Affiliate Debt and any Restricted Equity.

  • Maximum Weighted Average Life Test means a test that will be satisfied on any date of determination if the Weighted Average Life of all Eligible Collateral Obligations included in the Collateral is less than or equal to 5.50 years.

  • Retained limit means the greater of:

  • Required Capital Level means an amount of capital equal to 0.5% of the initial principal amount of the Securitization Bonds.

  • Fully Diluted Capitalization means the aggregate number, as of immediately prior to the First Equity Financing, of issued and outstanding shares of Capital Stock, assuming full conversion or exercise of all convertible and exercisable securities then outstanding, including shares of convertible Preferred Stock and all outstanding vested or unvested options or warrants to purchase Capital Stock, but excluding (i) the issuance of all shares of Capital Stock reserved and available for future issuance under any of the Company’s existing equity incentive plans, (ii) convertible promissory notes issued by the Company, (iii) any SAFEs, and (iv) any equity securities that are issuable upon conversion of any outstanding convertible promissory notes or SAFEs.

  • Committed Capital means $20,837,637.00 for 14,129,250 Class A Capital Units to be issued with respect to Members receiving Class A Capital Units in the Reorganization, and, with respect to any additional Members, the purchase price of the Capital Units subscribed for in any subsequent offering pursuant to a subscription agreement that has been accepted by the Company, regardless of whether such purchase price has been fully paid.

  • Adjusted Capital and Reserves means the aggregate of:

  • Total adjusted capital means the sum of:

  • Stepdown Date The earlier to occur of, (I) the first Distribution Date following the Distribution Date for which the Certificate Principal Balance for each of the Class A Certificates has been reduced to zero, and (II) the later to occur of (a) the Distribution Date in November 2009 or (b) the first Distribution Date on which the Current Specified Enhancement Percentage is greater than or equal to 58.90%.

  • Consolidated Capitalization means the sum obtained by adding (i) Consolidated Shareholders' Equity, (ii) Consolidated Indebtedness for money borrowed (exclusive of any thereof which is due and payable within one year of the date such sum is determined) and, without duplication, (iii) any preference or preferred stock of the Company or any Consolidated Subsidiary which is subject to mandatory redemption or sinking fund provisions.

  • Final Availability Date means the earlier of the Revolving Termination Date and one (1) Business Day prior to the date specified in clause (a) of the definition of Revolving Termination Date.

  • Minimum Weighted Average Coupon Test means a test that will be satisfied on any Measurement Date if the Weighted Average Coupon equals or exceeds 5.0%.

  • Unreturned Capital means, with respect to any Unit, at any time, an amount equal to the excess, if any, of (i) the aggregate amount of Capital Contributions made with respect to such Unit, over (ii) the aggregate amount of Distributions made by the Company with respect to such Unit pursuant to Section 4.01(a)(ii) prior to such time.

  • Bag limit means the maximum number of game animals, game

  • Target Amount is defined in Section 4.3(b)(i).

  • Minimum Weighted Average Spread Test means a test that will be satisfied on any day if the Weighted Average Spread of all Eligible Collateral Obligations included in the Collateral on such day is equal to or greater than 5.5%

  • Invested Capital means the amount calculated by multiplying the total number of Shares purchased by Stockholders by the issue price at the time of such purchase, reduced by the portion of any Distribution that is attributable to Net Sales Proceeds and by any amounts paid by the Company to repurchase Shares pursuant to the Company’s plan for the repurchase of Shares.