Common use of Discontinuance of Operations During Term of Agreement Clause in Contracts

Discontinuance of Operations During Term of Agreement. In the event the Facility is completed and begins operation with the required minimum number of net new full-time jobs but subsequently discontinues operations and the minimum required number of net new full-time jobs is not maintained during any four (4) consecutive weeks during the term of the Agreement, for any reason except on a temporary basis due to fire, explosion or other casualty or accident or natural disaster or event of force majeure, the Agreement may be terminated by the Governmental Unit, and all taxes previously abated by virtue of the Agreement during the preceding four years shall be recaptured and paid within 60 days of such termination. For discontinuances not related to force majeure, Owner may request an extension of time from the Governmental Unit.

Discontinuance of Operations During Term of Agreement. In the event the Facility is completed and begins operation with the required minimum number of net new full-time jobs and begins operation but subsequently discontinues operations and the minimum required number of net new full-time jobs is not maintained during any four (4) consecutive weeks during the term of the AgreementAgreement after the completion of construction, for any reason except on a temporary basis due to fire, explosion or other casualty or accident or natural disaster or event of force majeuredisaster, the Agreement may be terminated by the Governmental Unit, and all taxes previously abated by virtue of the Agreement during the preceding four years shall be recaptured and paid within 60 days of such termination. For discontinuances not related to force majeure, Owner may request an extension of time from the Governmental Unit.