City Obligations to Pay Incentives Sample Clauses

City Obligations to Pay Incentives. After the Company has satisfied the preconditions of Sections 3.1.1, 3.1.2, 3.1.3 and 3.1.4 the City agrees to make an initial incentive payment (for “Year 1”) to the Company according to the conditions of this Section 3.2. The Company must also comply with the requirements of Section 3.1.6 to be eligible for the remaining City Payments Year 2 through Year 15 and with Section 3.1.5 for City Payments Year 3 through Year 15 for each consecutive year to remain eligible for each annual payment. The maximum eligible payment for each annual City Payment is $264,873 for years 1 – 15. The total maximum possible City Payments shall not exceed $3,973,095 over the term of this Agreement.
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City Obligations to Pay Incentives. After the Company has satisfied all of the requirements outlined in Section 3.1, including all subsections, the City shall provide incentive payments as follows:
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City Obligations to Pay Incentives. After the Company has satisfied the preconditions of Sections 3.1.1, 3.1.2, and 3.1.3, the City shall make incentive payments to the Company according to the conditions of this Section 3.2 during the term of this Agreement, so long as the Company remains in compliance with Sections 3.1.4 and 3.1.5. As long as the Company continues its eligibility for the City Incentive Payments under this Agreement, the City shall, within 30 days of being invoiced, pay the Company the semi-annual payments outlined in Exhibit C, “City Incentive Payment Schedule,” attached hereto. The total maximum possible City Incentive Payments shall not exceed $5,723,537 over the term of this Agreement. Prior to the payment of any 2nd semi-annual City Incentive Payment , the Company shall provide such information requested by the City necessary to confirm the Occupancy Taxes and Retail Sales Taxes paid by the Company for the prior 12 month period.
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City Obligations to Pay Incentives. After the Company has satisfied the preconditions of Sections 3.1.1, 3.1.2, 3.1.3 and 3.1.4 the City agrees to make an initial incentive payment (for “Year 1”) to the Company according to the conditions of this Section 3.2. In order to be eligible for the remaining City Payments Year 2 through Year 8, the Company must also comply with the requirements of Section 3.1.5 for each consecutive year to remain eligible for each annual payment. The amounts of each annual City Payments shall be as follows: Year 1 = $215,275 Year 2 = $156,933 Year 3 = $167,514 Year 4 = $170,204 Year 5 = $151,217 Year 6 = $154,071 Year 7 = $157,012 Year 8 = $160,040 The total maximum possible City Payments shall not exceed $1,332,266.00 over the term of this Agreement.
Sample 1
City Obligations to Pay Incentives. After the Company has satisfied the preconditions of Sections 3.1.1, 3.1.2, and 3.1.3, the City agrees to make an initial incentive payment (for “Year 1”) to the Company according to the conditions of this Section 3.2. In order to be eligible for the remaining City Incentive Payments Year 2 through Year 7, the Company must also comply with the requirements of Section 3.1.4 and, the Company must meet the requirements of Section 3.15 (Job Creation Requirements after 2nd Year of Operations) to be eligible for City Incentive Payments Year 3 through Year 7. The amounts of each annual city incentive payments shall be as follows: Year 1 = $142,500 Year 2 = $125,000 Year 3 = $ 75,000 Year 4 = $ 75,000 Year 5 = $ 62,500 Year 6 = $ 62,500 Year 7 = $ 62,500 The total maximum possible City Incentive Payments shall not exceed $605,000 over the term of this Agreement.
Sample 1

Related to City Obligations to Pay Incentives

  • City Obligations 26.1 City shall provide full information in a timely manner regarding requirements for and limitations on projects and work tasks. With regard to subcontractor liens, City shall furnish to Engineer, within fifteen (15) days after receipt of a written request, information necessary and relevant for Engineer to evaluate, give notice of, or enforce lien.

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