Break-Even Point; State and Local Incentives Sample Clauses

Break-Even Point; State and Local Incentives. (a) State-Level Incentives: VEDP has estimated that the Commonwealth will reach its “break-even point” by the Performance Date. The break-even point compares new revenues realized as a result of the Capital Investment and New Jobs at the Facility with the Commonwealth’s expenditures on discretionary incentives, including but not limited to the COF Grant. With regard to the Facility, the Commonwealth expects to provide discretionary incentives in the following amounts: COF Grant $__________ Virginia Jobs Investment Program (“VJIP”) (Estimated) Tobacco Region Opportunity Fund Grant (“TROF”) Enterprise Zone Real Property Investment Grant (“EZRPIG”) (Estimated) Enterprise Zone Job Creation Grant (“EZJCG”) (Estimated) Virginia Investment Performance Grant (“VIP Grant”) VEDP Talent Accelerator Program (“VTAP”) (Approximate Value) Major Eligible Employers Grant (“XXX Xxxxx”) Virginia Economic Development Incentive Grant (“VEDIG”) Major Business Facility Job Tax Credit (“MBFJTC”) (Estimated) Port of Virginia Economic and Infrastructure Development Grant (“Port Grant”) [Other] The proceeds of the COF Grant shall be used for the purposes described in Section 3(c). The VJIP grant proceeds shall be used by the Company to pay or reimburse itself for recruitment and training costs. [The proceeds of the TROF Grant [shall][may] be used for __________________________[any lawful purpose].] [The proceeds of [the EZRPIG,] [the EZJCG,] [the VIP Grant,] [the XXX Xxxxx,] [the VEDIG,] [and the Port Grant] may be used by the Company for any lawful purpose.] [The MBFJTC will serve as an offset to Virginia corporate income taxes that may be owed by the Company.] [The VTAP represents the value to the Company of workforce development services expected to be provided by VEDP to the Company for recruitment and training.]
Sample 1See All (4)
AutoNDA by SimpleDocs
Break-Even Point; State and Local Incentives. (a) State-Level Incentives: VEDP has estimated that the Commonwealth will reach its “break-even point” by the Performance Date. The break-even point compares new revenues realized as a result of the Capital Investment and New Jobs at the Facility with the Commonwealth’s expenditures on discretionary incentives, including but not limited to the COF Grant. With regard to the Facility, the Commonwealth expects to provide incentives in the following amounts: COF Grant $50,000 Virginia Jobs Investment Program (“VJIP”) (Estimated) 121,500 Enterprise Zone Real Property Investment Grant (“EZRPIG”) (Estimated) 200,000 Enterprise Zone Job Creation Grant (“EZJCG”) (Estimated) 595,400 Port of Virginia Economic and Infrastructure Development Grant (“Port Grant”) 100,500 Machinery and Tools Sales and Use Tax Exemption (if Company meets statutory criteria) Up to 660,000 The proceeds of the COF Grant shall be used for the purposes described in Section 3(c). The VJIP grant proceeds shall be used by the Company to pay or reimburse itself for recruitment and training costs. The proceeds of the EZRPIG, the EZJCG, and the Port Grant may be used by the Company for any lawful purpose.
Sample 1Sample 2
Break-Even Point; State and Local Incentives. (a) State-Level Incentives: VEDP has estimated that the Commonwealth will reach its “break-even point” by the [Subsequent] Performance Date. The break-even point compares new revenues realized as a result of the Capital Investment and New Jobs at the Facility with the Commonwealth’s expenditures on discretionary incentives, including but not limited to the COF Grant. With regard to the Facility, the Commonwealth expects to provide discretionary incentives in the following amounts: Category of Incentive: Total Amount COF Grant $ Virginia Jobs Investment Program (“VJIP”) (Estimated) Tobacco Region Opportunity Fund Grant (“TROF”) Enterprise Zone Real Property Investment Grant (“EZRPIG”) (Estimated) Enterprise Zone Job Creation Grant (“EZJCG”) (Estimated) Virginia Investment Performance Grant (“VIP Grant”) Major Eligible Employers Grant (“XXX Xxxxx”) Virginia Economic Development Incentive Grant (“VEDIG”) Major Business Facility Job Tax Credit (“MBFJTC”) (Estimated) The proceeds of the COF Grant shall be used for the purposes described in Section 3(b). The VJIP grant proceeds shall be used by the Company to pay or reimburse itself for recruitment and training costs. [The proceeds of the TROF Grant [shall][may] be used for
Sample 1
Break-Even Point; State and Local Incentives. VEDP has estimated that the Commonwealth of Virginia will reach its “break-even point” by the Performance Date. The break-even point compares new revenues realized as a result of the Capital Investment and New Jobs at the Facility with the Commonwealth of Virginia’s expenditures on incentives, including but not limited to the GOF Grant. With regard to the Facility, the Commonwealth of Virginia expects to provide incentives in the following amounts: GOF Grant $300,000 Virginia Jobs Investment Program (“VJIP”) (Estimated) $417,200 The Locality, together with FMA, expects to provide the following incentives, as matching grants or otherwise, for the Facility: City of Hampton - Local Job Creation and Capital Investment Grant (“Local Grant”) $150,000 FMA -- 36 Month Rental Rate Reduction (“Rent Reduction”) $150,000 If, at the Performance Date, the amount of funds disbursed or committed to be disbursed to the Company by the Authority through the Local Grant totals less than the $150,000 portion of the GOF Grant local match requirement allocable to the Locality, the Authority, subject to appropriation, will make an additional grant to the Company of the difference, so long as the Company has met its Targets. If, at the Performance Date, the amount of the rent reduction made available to the Company from FMA totals less than the $150,000 portion of the GOF Grant local match requirement allocable to FMA, FMA, subject to appropriation, shall make an additional grant to the Company of the difference, so long as the Company has met its Targets. The proceeds of the GOF Grant and the Local Grant shall be used for the purposes described in Section 3 hereinabove. The VJIP Grant proceeds shall be used by the Company to pay or reimburse itself for recruitment and training costs. The Rent Reduction shall reflect cost savings to the Company.
Sample 1
Break-Even Point; State and Local Incentives. (a) State-Level Incentives: VEDP has estimated that the Commonwealth will reach its “break-even point” by the Performance Date. The break-even point compares new revenues realized as a result of the Capital Investment and New Jobs at the Facility with the Commonwealth’s expenditures on discretionary incentives, including but not limited to the COF Grant. With regard to the Facility, the Commonwealth expects to provide discretionary incentives in the following amounts: COF Grant $50,000 Virginia Jobs Investment Program (“VJIP”) (Estimated) 121,500 Enterprise Zone Real Property Investment Grant (“EZRPIG”) 200,000 (Estimated) Enterprise Zone Job Creation Grant (“EZJCG”) (Estimated) 595,400 Port of Virginia Economic and Infrastructure Development Grant 100,500 (“Port Grant”) The proceeds of the COF Grant shall be used for the purposes described in Section 3(c). The VJIP grant proceeds shall be used by the Company to pay or reimburse itself for recruitment and training costs. The proceeds of the EZRPIG, the EZJCG, and the Port Grant may be used by the Company for any lawful purpose.
Sample 1
Break-Even Point; State and Local Incentives 
Sample 1Sample 2Sample 3See All (5)

Related to Break-Even Point; State and Local Incentives

  • Interconnection Customer Payments Not Taxable The Parties intend that all payments or property transfers made by the Interconnection Customer to the Participating TO for the installation of the Participating TO's Interconnection Facilities and the Network Upgrades shall be non-taxable, either as contributions to capital, or as a refundable advance, in accordance with the Internal Revenue Code and any applicable state income tax laws and shall not be taxable as contributions in aid of construction or otherwise under the Internal Revenue Code and any applicable state income tax laws.

  • Closing Date and Location The Transaction will be completed at 10:00 a.m. (Pacific time) on the Closing Date, at the offices of the Purchaser’s Solicitors, or at such other location and time as is mutually agreed to by the Purchaser and the Target. Notwithstanding the location of the Closing, each party agrees that the Closing may be completed by the exchange of undertakings between the respective legal counsel for the Purchaser and the Target, provided such undertakings are satisfactory to each party’s respective legal counsel.

  • Interconnection Customer Compensation If the CAISO requests or directs the Interconnection Customer to provide a service pursuant to Articles 9.6.3 (Payment for Reactive Power) or 13.5.1 of this LGIA, the CAISO shall compensate the Interconnection Customer in accordance with the CAISO Tariff.

  • PREVAILING WAGE RATES - PUBLIC WORKS AND BUILDING SERVICES CONTRACTS If any portion of work being Bid is subject to the prevailing wage rate provisions of the Labor Law, the following shall apply:

  • Terminal Receipt You can get a receipt at the time you make any transaction (except inquiries) involving your account using an ATM and/or point-of-sale (POS) terminal.

  • WASHINGTON’S STATEWIDE PAYEE DESK Contractor represents and warrants that Contractor is registered with Washington’s Statewide Payee Desk, which registration is a condition to payment.

  • Use of Basement and Service Areas The basement(s) and service areas, if any, as located within the

  • Delivery Point The delivery point is the point of delivery of the Power Product to the CAISO Controlled Grid (the “Delivery Point”). Seller shall provide and convey to Buyer the Power Product from the Generating Facility at the Delivery Point. Title to and risk of loss related to the Power Product transfer from Seller to Buyer at the Delivery Point.

  • Federal, State and Local Taxes Unless otherwise specified, the proposal price shall include all applicable federal, state and local taxes. Contractor shall pay all taxes lawfully imposed on it with respect to any product or service delivered in accordance with this Agreement. City is exempt from state sales or use taxes and federal excise taxes for direct purchases. These taxes shall not be included in the Agreement. Upon request, City shall provide to the Contractor a certificate of tax exemption. City makes no representation as to the exemption from liability of any tax imposed by any governmental entity on the Contractor.

  • Interconnection Customer Compensation for Actions During Emergency Condition The CAISO shall compensate the Interconnection Customer in accordance with the CAISO Tariff for its provision of real and reactive power and other Emergency Condition services that the Interconnection Customer provides to support the CAISO Controlled Grid during an Emergency Condition in accordance with Article 11.6.

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!