Recapture of Agency Benefits. It is understood and agreed by the parties hereto that the Agency is entering into this Project Agreement in order to provide the Financial Assistance to the Company for the Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees that if there shall occur a Recapture Event (as defined below) after the date hereof, the Company shall pay to the Agency, or to the State of New York, if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency, one hundred percent (100%) of the Recaptured Benefits.
Recapture of Agency Benefits. (a) It is understood and agreed by the parties hereto that the Agency is entering into this Project Agreement in order to provide financial assistance to the Company for the Project Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees that if there shall occur a Recapture Event (as defined below) after the after the date hereof, the Company shall pay to the Agency, or to the State of New York, if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency in an amount as follows (such amount, the “Recapture of Benefits”):
Recapture of Agency Benefits. (a) It is understood and agreed by the parties hereto that the Agency is entering into this Lease Agreement in order to provide financial assistance to the Company for the Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees as follows:
Recapture of Agency Benefits. It is understood and agreed by the parties to this Agreement that the Agency is entering into this Agreement in order to provide financial assistance to the Lessee for the Project and to accomplish the public purposes of the Act. In consideration therefor, the Lessee hereby agrees as follows:
Recapture of Agency Benefits. (a) It is understood and agreed by the parties hereto that the Agency is entering into this Project Agreement in order to provide financial assistance to the Company for the Project Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees that if there shall occur a Recapture Event (as defined below) under this Project Agreement or the Uniform Project Agreement entered into between the Agency and Sub- Sublessee on even date, or any other Transaction Document between the Agency and the Company, the Agency and the Sub-Sublessee and the Agency, Sub-Sublessee and Company concerning the project facility after the after the date hereof, the Company and Sub-Sublessee shall be jointly and severally liable and shall pay to the Agency, or to the State of New York, if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency in an amount as follows (such amount, the “Recapture of Benefits”):
Recapture of Agency Benefits. (A) Notwithstanding anything to the contrary in the Lease Agreement with respect to the Benefits as such term is defined in Section 4.5(B) hereof, it is understood and agreed by the parties hereto that the Agency is entering into this Project Agreement in order to provide financial assistance to the Company for the Project Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees that if there shall occur a Recapture Event (as defined below) after the after the date hereof, the Company shall pay to the Agency, or to the State of New York, if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency in an amount as follows (such amount, the “Recapture of Benefits”):
Recapture of Agency Benefits. (a) It is understood and agreed by the parties hereto that the Agency is entering into this Agency Lease in order to provide Financial Assistance to the Company for the Project Facility and in furtherance of the purposes of Article 18-A of the Act. In consideration therefor, the Company hereby agrees that in the event of a Recapture Event (as defined below), the Agency may require the Company to pay up to one hundred percent (100%) of the Recaptured Benefits (as defined below).
Recapture of Agency Benefits. It is understood and agreed by the parties hereto that the Agency is entering into this Lease Agreement in order to provide financial assistance to the Company for the Facility and to accomplish the Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows:
(a) If there shall occur a Recapture Event after the date hereof, the Company shall pay to the Agency, or to the State of New York, if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency, the following amounts:
(i) one hundred percent (100%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs within the first five (5) years after the date hereof;
(ii) eighty percent (80%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs during the sixth (6th) year through and including the eighth (8th) year after the date hereof;
(iii) sixty percent (60%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs during the ninth (9th) year after the date hereof;
(iv) forty percent (40%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs during the tenth (10th) year after the date hereof; or
(v) twenty percent (20%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs during the eleventh (11th) year after the date hereof.
Recapture of Agency Benefits. (a) It is understood and agreed by the parties hereto that (i) this Lease Agreement shall be subject to the provisions of the Agency’s Uniform Tax Exemption Policy (“UTEP”), attached hereto as Exhibit I, as in effect on or before the adoption of the Authorizing Resolution and (ii) the Agency is entering into this Lease Agreement in order to provide financial assistance to the Company for the Facility and to accomplish the Public Purposes of the Act. In consideration therefor, the Company hereby agrees that the Agency, in its sole discretion, on a case-by-case basis, may determine that the Project has failed to reach the employment goals, the investment commitment, the Facility is sold, transferred or assigned, or any other goal set forth in the Application, and upon such determination, the Agency may, in its sole discretion, reduce, suspend, discontinue and/or recapture the Financial Assistance (as defined below).
Recapture of Agency Benefits. (a) It is understood and agreed by the parties hereto that the Agency is entering into the Lease Agreement in order to provide financial assistance to the Company for the Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees that if there shall occur a Recapture Event after August 1, 2017 but on or before December 31, 2018 the Company shall pay to the Agency, or to the State of New York, if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency, the Recaptured Benefits.
