Common use of Continuous Underemployment Clause in Contracts

Continuous Underemployment. If the Company shall fail for a period of two (2) consecutive years to employ at least two (2) FTs for each year, the Agency may compute .the PILOT Payment by adjusting the exemption amount to the level ofexemption the Project would have received ifeligible for exemption under RPTL §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 of two (2) consecutive years to employ at least two five (25) FTs FTEs for each year, the Agency may compute .the the PILOT Payment by adjusting the exemption amount to the level ofexemption of exemption the Project would have received ifeligible if eligible for exemption under RPTL §485b485(b). Such.an 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 of or two (2) consecutive years to employ at least two (2) FTs FTEs for each year, . the Agency may compute .the the PILOT Payment by adjusting the exemption amount to the level ofexemption of exemption the Project would have received ifeligible if eligible for exemption under RPTL §485b. Such.an 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 of two (2) consecutive years to employ at least two five (25) FTs FTEs for each year, the Agency may compute .the the PILOT Payment by adjusting the exemption amount to the level ofexemption of exemption the Project would have received ifeligible if eligible for exemption under RPTL §485b485(b). Such.an 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 of two (2) consecutive years to employ at least two (2) FTs FTEs for each year, the Agency may compute .the the PILOT Payment by adjusting the exemption amount to the level ofexemption of exemption the Project would have received ifeligible if eligible for exemption under RPTL §485b. Such.an 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 of two (2) consecutive years to employ at least two (2) FTs FTEs for each year, the Agency Xxxx.xx may compute .the the PILOT Payment by adjusting the exemption amount amount. to the level ofexemption of exemption the Project would have received ifeligible if eligible for exemption under RPTL §485b. Such.an 485-b. Such an adjustment shall relate to the ·exemption level only, and not the TVSPvaluation of the Project.