Common use of City Obligations to Pay Incentives Clause in Contracts

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.

City Obligations to Pay Incentives. After the Company has satisfied the preconditions of Sections 3.1.1, 3.1.2, 3.1.3 3.1.3, 3.1.5, and 3.1.4 3.1.6 the City agrees to make an initial incentive payment (City Payment for “Year 1”) 1 and 2 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 For the remaining City Payments Year 2 through Year 15 and with Section 3.1.5 for City Payments Year 3 through Year 15 15, Sections 3.1.4. 3.1.5 and 3.1.6 shall also apply to the Company’s eligibility for each consecutive year to remain eligible for each annual paymentthe remaining City Payments. The maximum eligible payment for each annual City Payment is $264,873 for years 1 – 15350,000.00. The total maximum possible City Payments shall not exceed $3,973,095 5,250,000.00 over the term of this Agreement.

City Obligations to Pay Incentives. After the Company has satisfied the preconditions of Sections 3.1.1, 3.1.2, 3.1.3 3.1.3, 3.1.4, and 3.1.4 3.1.5 the City agrees to make an initial incentive payment (City Payment for “Year 1”) 1 and 2 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 For the remaining City Payments Year 2 through Year 15 and with Section 3.1.5 for City Payments Year 3 through Year 15 15, Section 3.1.6 shall also apply to the Company’s eligibility for each consecutive year to remain eligible for each annual paymentthe remaining City Payments. The maximum eligible payment for each annual City Payment is $264,873 for years 1 – 15350,000.00. The total maximum possible City Payments shall not exceed $3,973,095 5,250,000.00 over the term of this AgreementCity Payment Period.

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 3.1.5 the City agrees to make an initial incentive payment (City Payment for “Year 1”) 1 and 2 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 For the remaining City Payments Year 2 through Year 15 and with Section 3.1.5 for City Payments Year 3 through Year 15 15, Sections 3.1.4 and 3.1.5 shall also apply to the Company’s eligibility for each consecutive year to remain eligible for each annual paymentthe remaining City Payments. The maximum eligible payment for each annual City Payment is $264,873 for years 1 – 15400,000.00. xce The total maximum possible City Payments shall not exceed e this Agreement. ed $3,973,095 6,000,000 over the term of this Agreement.of