Common use of Failure to Occupy the Premises Clause in Contracts

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] retain Company in San Xxxx. If Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse the City for the City Assistance that the City has provided, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the permit approval including appeal period, if any set forth in Section 2 of this Agreement is issued by the City (“Permit Issuance Date”), Company shall reimburse the City ninety percent (90%) of any City Assistance disbursed to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance Date, but before the second anniversary of the Effective Date, Company shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective Date, but before the third anniversary of the Permit Issuance Date, Company shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance Date, Company shall not be required to reimburse the City for any portion of the City Equipment Assistance.

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] and retain Company in San Xxxx. If Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse repay the City for the City Assistance that the City has providedGrant to City, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the permit approval including appeal period, if any set forth in Section 2 of this Agreement is City has issued by all necessary approvals for Company to occupy the City Premises (“Permit Issuance City Approval Date”), Company shall reimburse the City ninety percent (90%) of any City Assistance disbursed Grant made to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance City Approval Date, but before the second anniversary of the Effective City Approval Date, Company shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed Grant made to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective City Approval Date, but before the third anniversary of the Permit Issuance City Approval Date, Company shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed Grant made to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance City Approval Date, Company shall not be required to reimburse the City for any portion of the City Equipment AssistanceGrant made to Company under this Agreement.

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] and retain Company in San Xxxx. If Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse repay the City for the City Assistance that the City has providedGrant to City, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the permit approval including appeal period, if any set forth in Section 2 of this Agreement is City has issued by all necessary approvals for Company to occupy the City Premises (“Permit Issuance City Approval Date”), Company shall reimburse the City ninety percent (90%) of any City Assistance disbursed Grant made to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance City Approval Date, but before the second anniversary of the Effective City Approval Date, Company shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed Grant made to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective City Approval Date, but before the third anniversary of the Permit Issuance City Approval Date, Company shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed Grant made to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance City Approval Date, Company shall not be required to reimburse the City for any portion of the City Equipment AssistanceGrant made to Company under this Agreement.

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] and retain Company in San Xxxx. If Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse the City for the City Assistance that the City has provided, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the first permit approval including appeal period, if any set forth in Section 2 of this Agreement is issued by the City (“Permit Issuance Date”), Company shall reimburse the City ninety percent (90%) of any City Assistance disbursed to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance Date, but before the second anniversary of the Effective Date, Company shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective Date, but before the third anniversary of the Permit Issuance Date, Company shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance Date, Company shall not be required to reimburse the City for any portion of the City Equipment Assistance.

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] and retain Company in San Xxxx. If T-42721/ 1 OC-001379-000 Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse repay the City for the City Assistance that the City has providedGrant to City, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the permit approval including appeal period, if any set forth in Section 2 of this Agreement is City has issued by all necessary approvals for Company to occupy the City Premises (“Permit Issuance City Approval Date”), Company shall reimburse the City ninety percent (90%) of any City Assistance disbursed Grant made to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance City Approval Date, but before the second anniversary of the Effective City Approval Date, Company shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed Grant made to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective City Approval Date, but before the third anniversary of the Permit Issuance City Approval Date, Company shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed Grant made to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance City Approval Date, Company shall not be required to reimburse the City for any portion of the City Equipment AssistanceGrant made to Company under this Agreement.

Failure to Occupy the Premises. The City has agreed to provide the City Equipment Assistance hereunder as an incentive to [attract and] [not relevant in this case] and retain Company in San Xxxx. If Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 5 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse the City for the City Equipment Assistance that the City has provided, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date of issuance of a temporary or permanent certificate of occupancy any portion of the permit approval including appeal period, if any set forth in Section 2 Premises ("Certificate of this Agreement is issued by the City (“Permit Issuance Occupancy Date”"), Company shall reimburse the City ninety percent (90%) of any City Equipment Assistance disbursed to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance Certificate of Occupancy Date, but before the second anniversary of the Effective Certificate of Occupancy Date, Company shall reimburse the City sixty seven percent (6767 %) of any City Equipment Assistance disbursed to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective Certificate of Occupancy Date, but before the third anniversary of the Permit Issuance Certificate of Occupancy Date, Company shall reimburse the City thirty-thirty-three percent (3333 %) of any City Equipment Assistance disbursed to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance Certificate of Occupancy Date, Company shall not be required to reimburse the City for any portion of the City Equipment Assistance. As security for its obligation hereunder, Company shall grant a security interest in the Eligible Equipment for which Company has received reimbursement through the City Equipment Assistance to the City. Concurrently with delivery of the Evidence of Acquisition, Company shall execute a security agreement in substantially the form attached hereto as Exhibit B and shall authorize the City to file a UCC-1 to perfect the City's security interest in the Eligible Equipment. If a Reimbursement Event occurs prior to any of the dates set forth above and Company fails to reimburse the City as required hereunder, Company hereby grants the City the right to enter the Premises (subject however, to the terms and condition of Company’s Lease of the Premises), or other premises where the Eligible Equipment may have been relocated, to take possession of the Eligible Equipment. If the City takes possession of the Eligible Equipment, the City shall have the right to take any and all actions with respect to such equipment, including the sale of such equipment, and any actions taken by the City with respect to such equipment shall be in addition to any other remedies available to the City at law or equity. The City's security interest in the Eligible Equipment shall be senior to any other lender or financing.

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] and retain Company in San Xxxx. If T-42721/ 1 OC-001375-000 Company vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company shall, within thirty (30) days thereafter, reimburse repay the City for the City Assistance that the City has providedGrant to City, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the permit approval including appeal period, if any set forth in Section 2 of this Agreement is City has issued by all necessary approvals for Company to occupy the City Premises (“Permit Issuance City Approval Date”), Company shall reimburse the City ninety percent (90%) of any City Assistance disbursed Grant made to Company under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance City Approval Date, but before the second anniversary of the Effective City Approval Date, Company shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed Grant made to Company under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective City Approval Date, but before the third anniversary of the Permit Issuance City Approval Date, Company shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed Grant made to Company under this Agreement; (d) If Company remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance City Approval Date, Company shall not be required to reimburse the City for any portion of the City Equipment AssistanceGrant made to Company under this Agreement.

Failure to Occupy the Premises. The City has agreed to provide the City Assistance hereunder as an incentive to [attract and] [not relevant in this case] retain Company Corporation in San Xxxx. If Company Corporation vacates or otherwise no longer occupies any portion of the Premises at the applicable times stated below in this Section 4 (collectively, “Reimbursement Event”), Company Corporation shall, within thirty (30) days thereafter, reimburse the City for the City Assistance that the City has provided, as follows: (a) If a Reimbursement Event occurs before the first anniversary of the date the permit approval including appeal period, if any set forth in Section 2 of this Agreement is issued by the City (“Permit Issuance Date”), Company Corporation shall reimburse the City ninety percent (90%) of any City Assistance disbursed to Company Corporation under this Agreement; (b) If a Reimbursement Event occurs on or after the first anniversary of the Permit Issuance Date, but before the second anniversary of the Effective Date, Company Corporation shall reimburse the City sixty seven percent (67%) of any City Assistance disbursed to Company Corporation under this Agreement; (c) If a Reimbursement Event occurs on or after the second anniversary of the Effective Date, but before the third anniversary of the Permit Issuance Date, Company Corporation shall reimburse the City thirty-three percent (33%) of any City Equipment Assistance disbursed to Company Corporation under this Agreement; (d) If Company Corporation remains in occupancy of the Premises on or beyond the third anniversary of the Permit Issuance Date, Company Corporation shall not be required to reimburse the City for any portion of the City Equipment Assistance.