Additional PILOT Sample Clauses

The "Additional PILOT" clause establishes the terms under which extra payments in lieu of taxes (PILOT) may be required beyond the standard obligations. This clause typically applies when a property or project benefits from a PILOT agreement but circumstances arise that necessitate further payments, such as changes in property use, expansions, or modifications to the original agreement. Its core function is to ensure that the taxing authority or municipality can secure additional revenue if the project's scope or benefits change, thereby maintaining fairness and fiscal balance.
Additional PILOT. If any portion of the Facility Realty is used for Non-Qualified Use by the Lessee or any Tenant (whether pursuant to a Tenant Lease, occupancy or use), with respect to the period of such use, the Lessee shall pay additional PILOT in accordance with Section 5.1(g) in advance of each semi-annual period during which such Non-Qualified Use shall occur (in addition to amounts payable pursuant to Section 5.1(c), (d), (e) and (f) hereof) as follows: (1) With respect to the Improvements, if any portion of the Improvements is used for Non-Qualified Use, an amount, equal to the product of
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Additional PILOT. If any portion of the Facility Realty is used for Non- Qualified Use by the Lessee or any Tenant (whether pursuant to a Tenant Lease, occupancy or use), with respect to the period of such use, the Lessee shall pay additional PILOT in accordance with Section 5.1(g) in advance of each semi-annual period during which such Non-Qualified Use shall occur (in addition to amounts payable pursuant to Section 5.1(c), (d), (e) and (f) hereof) as follows: (1) With respect to the Improvements, if any portion of the Improvements is used for Non-Qualified Use, an amount, equal to the product of (y) the positive difference, if any, between (A) the Adjusted PILOT Amount with respect to the Improvements and (B) the PILOT amounts applicable to the Improvements calculated pursuant to Section 5.1 (d), (e) and (f) hereof, in each case, determined on a per diem basis for the period of such Non-Qualified Use, and (z) a fraction, expressed as percentage (the “Improvements Percentage”), the numerator of which is (A) the total Non-Qualified USF and the denominator of which is (B) the Total Improvements USF; or (2) With respect to the Land: (A) if any portion of the Improvements is used for such Non- Qualified Use, the Lessee shall pay additional PILOT in an amount equal to the greater of: (i) the product of (y) the difference between (A) the Adjusted PILOT Amount with respect to the Land and (B) the PILOT amounts with respect to the Land calculated pursuant to Section 5.1(c) hereof, in each case, determined on a per diem basis for the period of such Non-Qualified Use, and (z) a fraction, expressed as a percentage (the “Land Percentage”) the numerator of which is (A) the total gross square footage the Land used for such Non-Qualified Use and the denominator of which is (B) the total gross square footage of the Land; and (ii) the product of (y) the difference between (A) the Adjusted PILOT Amount with respect to the Land and (B) the PILOT amounts with respect to the Land calculated pursuant to Section 5.1(c) hereof, in each case, determined on a per diem basis for the period of such Non-Qualified Use, and (z) the Improvements Percentage; or (B) If no portion of the Improvements is subleased, occupied or used for such Non-Qualified Use, the Lessee shall pay additional PILOT in an amount equal to the product of (y) the difference between (A) the Adjusted PILOT Amount with respect to the Land in the absence of the Agency’s exemption and (B) the PILOT amounts with respect to the Land calc...
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Additional PILOT. If any portion of the Cables Property is used for Non-Qualified Use by the Lessee or any Tenant (whether pursuant to a Tenant Lease, occupancy or use), with respect to the period of such use, the Lessee shall pay additional PILOT in accordance with Section 5.1(e) in advance of each semi-annual period during which such Non-Qualified Use shall occur (in addition to amounts payable pursuant to Section 5.1(d) hereof) as follows: if any portion of the Cables Property is used for Non- Qualified Use, an amount, equal to the product of (y) the positive difference, if any, between (A) the PILOT Amount with respect to the Cables Property and (B) the PILOT amounts applicable to the Cables Property calculated pursuant to Section 5.1(d) hereof, in each case, determined on a per diem basis for the period of such Non-Qualified Use, and
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Related to Additional PILOT

  • Additional G-Cloud services 30.1 The Buyer may require the Supplier to provide Additional Services. The Buyer doesn’t have to buy any Additional Services from the Supplier and can buy services that are the same as or similar to the Additional Services from any third party. 30.2 If reasonably requested to do so by the Buyer in the Order Form, the Supplier must provide and monitor performance of the Additional Services using an Implementation Plan.

  • Additional CPV code(s 80000000 - Education and training services 80100000 - Primary education services 80110000 - Pre-school education services 80200000 - Secondary education services 80212000 - Vocational secondary education services 80310000 - Youth education services 80340000 - Special education services 85000000 - Health and social work services 85300000 - Social work and related services

  • Additional Partners (a) Effective on the first day of any month (or on such other date as shall be determined by the General Partner in its sole discretion), the General Partner shall have the right to admit one or more additional or substitute persons into the Partnership as General Partners or Limited Partners. Each such person shall make the representations and certifications with respect to itself set forth in Sections 3.7 and 3.8. The General Partner shall determine and negotiate with the additional Partner all terms of such additional Partner’s participation in the Partnership, including the additional Partner’s initial GP-Related Capital Contribution, Capital Commitment-Related Capital Contribution, GP-Related Profit Sharing Percentage and Capital Commitment Profit Sharing Percentage. Each additional Partner shall have such voting rights as may be determined by the General Partner from time to time unless, upon the admission to the Partnership of any Limited Partner, the General Partner shall designate that such Limited Partner shall not have such voting rights (any such Limited Partner being called a “Nonvoting Limited Partner”). Any additional Partner shall, as a condition to becoming a Partner, agree to become a party to, and be bound by the terms and conditions of, the Trust Agreement. If Blackstone or another or subsequent holder of an Investor Note approved by the General Partner for purposes of this Section 6.1(a) shall foreclose upon a Limited Partner’s Investor Note issued to finance such Limited Partner’s purchase of his Capital Commitment Interests, Blackstone or such other or subsequent holder shall succeed to such Limited Partner’s Capital Commitment Interests and shall be deemed to have become a Limited Partner to such extent. Any Additional Partner may have a GP-Related Partner Interest or a Capital Commitment Partner Interest, without having the other such interest. (b) The GP-Related Profit Sharing Percentages, if any, to be allocated to an additional Partner as of the date such Partner is admitted to the Partnership, together with the pro rata reduction in all other Partners’ GP-Related Profit Sharing Percentages as of such date, shall be established by the General Partner pursuant to Section 5.3. The Capital Commitment Profit Sharing Percentages, if any, to be allocated to an additional Partner as of the date such Partner is admitted to the Partnership, together with the pro rata reduction in all other Partners’ Capital Commitment Profit Sharing Percentages as of such date, shall be established by the General Partner. (c) An additional Partner shall be required to contribute to the Partnership his pro rata share of the Partnership’s total capital, excluding capital in respect of GP-Related Investments and Capital Commitment Investments in which such Partner does not acquire any interests, at such times and in such amounts as shall be determined by the General Partner in accordance with Sections 4.1 and 7.1. (d) The admission of an additional Partner will be evidenced by (i) the execution of a counterpart copy of, or counter-signature page with respect to, this Agreement by such additional Partner, or (ii) the execution of an amendment to this Agreement by the General Partner and the additional Partner, as determined by the General Partner, or (iii) the execution by such additional Partner of any other writing evidencing the intent of such person to become a substitute or additional Limited Partner and to be bound by the terms of this Agreement and such writing being accepted by the General Partner on behalf of the Partnership. In addition, each additional Partner shall sign a counterpart copy of the Trust Agreement or any other writing evidencing the intent of such person to become a party to the Trust Agreement.

  • Additional Land All ▇▇▇▇▇▇▇▇▇▇ ▇▇▇▇▇, ▇▇▇▇▇▇▇ and development rights hereafter acquired by Borrower for use in connection with the Land and the development of the Land and all additional lands and estates therein which may, from time to time, by supplemental mortgage or otherwise be expressly made subject to the lien of this Security Instrument;

  • Additional Facilities If any structural additions or change in use shall be made to the buildings or other improvements included in the Project Facility subsequent to the date hereof (other than the initial construction of the Building contemplated by the Project), or if any additional buildings or improvements shall be constructed on the Land other than the Building (such change of use, new structures, structural additions, buildings and improvements being referred to hereinafter as “Additional Facilities”), the Obligor agrees that its PILOT Obligations hereunder shall be increased by an amount, as determined by the Agency or a tax assessor selected by the Agency, equal to the increased tax payments, if any, that would have been payable on such increase if this Agreement were not in effect. Nothing herein shall constitute the Agency’s consent to the construction of any such additions or additional buildings or improvements or to such change of use.