COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project 8 Section 3.02 Diligent Completion 8 Section 3.03 Filings and Reports 8
COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 7 SECTION 3.02 DILIGENT COMPLETION 7 SECTION 3.03 FILINGS AND REPORTS 7 ARTICLE IV
COMMENCEMENT AND COMPLETION OF THE PROJECT. Contractor understands and agrees that all Work required under this Contract shall be fully completed, as set forth in the Contract Documents, within 60 calendar days of the date of the Notice to Proceed. Contractor acknowledges and understands that it is an essential term of this Contract that Contractor maintain a rate of progress in the Work that will result in completion of the Project in accordance with the Contract Documents, and to that end, Contractor agrees to proceed with all due diligence to complete the Work in a timely manner in accordance with the Contract Documents.
COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 6 SECTION 3.02 DILIGENT COMPLETION 6 SECTION 3.03 FILINGS AND REPORTS 6 ARTICLE IV FILOT PAYMENTS SECTION 4.01 FILOT PAYMENTS 7 SECTION 4.02 RESERVED 8 SECTION 4.03 FAILURE TO ACHIEVE MINIMUM INVESTMENT REQUIREMENT 8 SECTION 4.04 REMOVAL OF EQUIPMENT 8 SECTION 4.05 FILOT PAYMENTS ON REPLACEMENT PROPERTY 9 SECTION 4.06 REDUCTIONS IN PAYMENT OF TAXES UPON DIMINUTION IN VALUE; INVESTMENT MAINTENANCE REQUIREMENT 9 ARTICLE V 9 PARTICULAR COVENANTS AND AGREEMENTS 10 SECTION 5.01 CESSATION OF OPERATIONS 10 SECTION 5.02 RIGHTS TO INSPECT 10 SECTION 5.03 CONFIDENTIALITY 10 SECTION 5.04 LIMITATION OF COUNTY’S LIABILITY 11 SECTION 5.05 MERGERS, REORGANIZATIONS AND EQUITY TRANSFERS 11 SECTION 5.06 INDEMNIFICATION COVENANTS 11 SECTION 5.07 QUALIFICATION IN STATE 12 SECTION 5.08 NO LIABILITY OF COUNTY’S PERSONNEL 12 SECTION 5.09 ASSIGNMENT, LEASES OR TRANSFERS 12 SECTION 5.10 ADMINISTRATION EXPENSES 13 SECTION 5.11 PRIORITY LIEN STATUS 13 SECTION 5.12 INTEREST; PENALTIES 13 SECTION 5.13 SPONSOR AFFILIATES 13 ARTICLE VI DEFAULT 14 SECTION 6.01 EVENTS OF DEFAULT 14 SECTION 6.02 REMEDIES UPON DEFAULT 14 SECTION 6.03 REIMBURSEMENT OF LEGAL FEES AND EXPENSES AND OTHER EXPENSES 15 SECTION 6.04 NO WAIVER 15 ARTICLE VII 15 MISCELLANEOUS 15 SECTION 7.01 NOTICES 15 SECTION 7.02 BINDING EFFECT 16 SECTION 7.03 COUNTERPARTS 16 SECTION 7.04 GOVERNING LAW 17 SECTION 7.05 HEADINGS 17 SECTION 7.06 AMENDMENTS 17 SECTION 7.07 FURTHER ASSURANCE 17 SECTION 7.08 INVALIDITY; CHANGE IN LAWS 17 SECTION 7.09 TERMINATION BY COMPANY 17 SECTION 7.10 ENTIRE UNDERSTANDING 18 SECTION 7.11 WAIVER 18 SECTION 7.12 BUSINESS DAY 18 EXHIBIT A – DESCRIPTION OF LAND EXHIBIT B – INVESTMENT CERTIFICATION SUMMARY OF CONTENTS OF FEE IN LIEU OF TAX AGREEMENT As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax Agreement or a summary compliant with Section 12-44-55 of the Code.
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.1 The Project. The Company has acquired, constructed and/or installed or made plans for the acquisition, lease, construction, expansion and/or installation of certain land, buildings, improvements, fixtures, machinery and equipment which comprise the Project. Pursuant to the Act, the Company and the County hereby agree that the property comprising the Project is intended to be Economic Development Property as defined under the Act.
COMMENCEMENT AND COMPLETION OF THE PROJECT. 2.1 This Agreement shall commence on the Commencement Date and shall expire on the Completion of the Project unless this Agreement is earlier determined or extended pursuant to the provisions of this Agreement, or the Government agrees otherwise.
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.1 The Project. The Company intends to invest in Equipment, Improvements, and/or Real Property, which together comprise the Project and which are anticipated to create at least the Act Minimum Investment Requirement in eligible Economic Development Property investment subject to Payments in Lieu of Taxes in the County. The parties hereto agree that, to the extent that applicable law allows or is revised or construed to allow the benefits of the Act, in the form of FILOT Payments to be made under Article IV hereof, to be applicable to leased assets including, but not limited to a building and/or personal property to be installed in the buildings and leased to but not purchased by the Company from one or more Sponsors under any form of lease, then such property shall, at the election of the Company, be subject to FILOT Payments to the same extent as the Company’s assets covered by this Fee Agreement, subject, at all times, to the requirement of such applicable law. The parties hereto further agree that this Fee Agreement may be interpreted or modified as may be necessary or appropriate in order to give proper application of this Fee Agreement to such tangible property without such construction or modification constituting an amendment to this Fee Agreement, and thus not requiring any additional action by the County Council. The County Administrator, after consulting with the County Attorney, shall be and hereby is authorized to make such modifications, if any, as may be necessary or appropriate in connection therewith. In such event, and only in such event, such leased property shall constitute a part of the Project for all purposes of this Fee Agreement, including, without limitation, as to removal, replacement, and termination, and such Sponsor shall be deemed to be a party to this Fee Agreement, only to the extent allowed by law. Pursuant to the Act and subject to Section 4.2 hereof, the Company and the County hereby agree that the Company shall identify annually those assets which are eligible for FILOT payments under the Act and which the Company selects for such treatment by listing such assets in its annual PT-300S form (or comparable form) to be filed with the Department (as such may be amended from time to time) and that by listing such assets, such assets shall automatically become Economic Development Property and therefore be exempt from all ad valorem taxation during the Exemption Period. Anything contained in this Fee Agreement to the ...
COMMENCEMENT AND COMPLETION OF THE PROJECT. 5.1 You will:
COMMENCEMENT AND COMPLETION OF THE PROJECT. Section 3.01 The Project 7 Section 3.02 Diligent Completion 7 Section 3.03 Filings and Reports 7 ARTICLE IV FILOT PAYMENTS Section 4.01 FILOT Payments 9 SECTION 4.02 INTENTIONALLY OMITTED 10 Section 4.03 Failure to Achieve Minimum Investment Requirement 10 Section 4.04 Removal of Equipment 10 Section 4.05 FILOT Payments on Replacement Property 11 Section 4.06 Reductions in Payment of Taxes Upon Diminution in Value; Investment Maintenance Requirement 11 ARTICLE V
