Common use of Continuous Underemployment Clause in Contracts

Continuous Underemployment. If the Company shall fail for a period or two (2) consecutive years to employ at least two (2) FTEs for each year. the Agency may compute the PILOT Payment by adjusting the exemption amount to the level of exemption the Project would have received if eligible for exemption under RPTL §485-b. Such an adjustment shall relate to the exemption level only, and not the TVSP.

Continuous Underemployment. If the Company shall fail for a period or of two (2) consecutive years to employ at least two (2) FTEs for each year. , the Agency may compute the PILOT Payment by adjusting the exemption amount to the level of exemption the Project would have received if eligible for exemption under RPTL §485-b. Such an adjustment shall relate to the exemption level only, and not the TVSPTVSP .

Continuous Underemployment. If the Company shall fail for a period or of two (2) consecutive years to employ at least two (2) FTEs FTs for each year. , the Agency may compute the .the PILOT Payment by adjusting the exemption amount to the level of exemption ofexemption the Project would have received if eligible ifeligible for exemption under RPTL §485-b. Such an 485b. Such.an adjustment shall relate to the exemption level only, and not the TVSP.

Continuous Underemployment. If the Company shall fail for a period or of two (2) consecutive years to employ at least two five (25) FTEs for each year. , the Agency may compute the PILOT Payment by adjusting the exemption amount to the level of exemption the Project would have received if eligible for exemption under RPTL §485-b. 485(b). Such an adjustment shall relate to the exemption level only, and not the TVSPTotal Value Subject to PILOT.

Continuous Underemployment. If the Company shall fail for a period or of two (2) consecutive years to employ at least two (2) FTEs for each year. , the Agency Xxxx.xx may compute the PILOT Payment by adjusting the exemption amount amount. to the level of exemption the Project would have received if eligible for exemption under RPTL §485-b. Such an adjustment shall relate to the ·exemption level only, and not the TVSPvaluation of the Project.

Continuous Underemployment. If the Company shall fail for a period or of two (2) consecutive years to employ at least two five (25) FTEs for each year. , the Agency may compute the PILOT Payment by adjusting the exemption amount to the level of exemption the Project would have received if eligible for exemption under RPTL §485-b. 485(b). Such an adjustment shall relate to the exemption level only, and not the TVSPTotal Value Subject to PILOT.