Common use of Recapture of Agency Benefits Clause in Contracts

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: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 2024, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 but on or before December 31, 2027, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 but on or before December 31, 2031, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 but on or before December 31, 2034, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 2035, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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: (i) If there shall occur a Recapture Event prior to the Completion Date or within the first (1st) or second (2nd) year after the Closing Completion Date, but on or before December 31, 2024, 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 (as defined below); (ii) If there shall occur a Recapture Event on or during the third (3rd) year after January 1, 2025 but on or before December 31, 2027the Completion Date, 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, seventy-five ninety percent (7590%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on during the fourth (4th) year after the Completion Date, 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, eighty percent (80%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event during the fifth (5th) year after January 1the Completion Date, 2028 but on the Company shall pay to the Agency, or before December 31to the State of New York, 2031if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency, seventy percent (70%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event during the sixth (6th) year after the Completion Date, 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, sixty percent (60%) of the Recaptured Benefits; and (vi) If there shall occur a Recapture Event during the seventh (7th) year after the Completion Date, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 but on or before December 31, 2034, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 2035, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 20242021, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2022 but on or before December 31, 20272023, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2024 but on or before December 31, 20312025, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2026 but on or before December 31, 20342026, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352027, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and (b) The term “Recaptured Benefits” shall mean all direct monetary benefits, tax exemptions and abatements and other financial assistance, if any, derived solely from the Agency’s participation in the transaction contemplated by the Lease Agreement including, but not limited to, the amount equal to 100% of:

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: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 2024, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 but on or before December 31, 20272026, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2027 but on or before December 31, 20312028, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2029 but on or before December 31, 20342029, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352030, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and (b) The term "Recaptured Benefits" shall mean all direct monetary benefits, tax exemptions and abatements and other financial assistance, if any, derived solely from the Agency's participation in the transaction contemplated by the Lease Agreement including, but not limited to, the amount equal to 100% of:

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: (i) If there shall occur a Recapture Event after the Closing DateJanuary 10, 2019, but on or before December 31, 20242023, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2024, but on or before December 31, 20272026, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2027, but on or before December 31, 20312028, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2029, but on or before December 31, 20342029, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352030, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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: (i) If there shall occur a Recapture Event prior to the Completion Date or within the first (1st) or second (2nd) year after the Closing Completion Date, but on or before December 31, 2024, 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 (as defined below); (ii) If there shall occur a Recapture Event on or during the third (3rd) year after January 1, 2025 but on or before December 31, 2027the Completion Date, 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, seventy-five ninety percent (7590%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on during the fourth (4th) year after the Completion Date, 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, eighty percent (80%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event during the fifth (5th) year after January 1the Completion Date, 2028 but on the Company shall pay to the Agency, or before December 31to the State of New York, 2031if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency, seventy percent (70%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event during the sixth (6th) year after the Completion Date, 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, sixty percent (60%) of the Recaptured Benefits; and (vi) If there shall occur a Recapture Event during the seventh (7th) year after the Completion Date, 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, fifty percent (50%) of the Recaptured Benefits; (ivvii) If there shall occur a Recapture Event on or during the eighth (8th) year after January 1, 2032 but on or before December 31, 2034the Completion Date, 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, twenty-five forty percent (2540%) of the Recaptured Benefits; and (vviii) If there shall occur a Recapture Event on during the ninth (9th) year after the Completion Date, 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, thirty percent (30%) of the Recaptured Benefits; and (ix) If there shall occur a Recapture Event during the tenth (10th) year after January 1the Completion Date, 2035the 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, twenty percent (20%) of the Recaptured Benefits; and (x) If there shall occur a Recapture Event during the eleventh (11th) year after the Completion Date, 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, ten percent (10%) of the Recaptured Benefits; and (xi) If there shall occur a Recapture Event during the twelfth (12th) year after the Completion Date, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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 Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the Closing DateJune 5, 2020, but on or before December 31, 20242022, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2023 but on or before December 31, 20272024, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2025 but on or before December 31, 20312026, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2027 but on or before December 31, 20342027, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352028, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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 Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 2024[year of Closing Date + 3]6, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 [year of Closing Date + 4] but on or before December 31, 2027[year of Closing Date + 5], 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 [year of Closing Date + 6] but on or before December 31, 2031[year of Closing Date + 7], 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 [year of Closing Date + 8] but on or before December 31, 2034[year of Closing Date + 8], 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 2035[year of Closing Date + 9], the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 20242020, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2021 but on or before December 31, 20272022, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2023 but on or before December 31, 20312024, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2025 but on or before December 31, 20342025, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352026, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and (b) The term “Recaptured Benefits” shall mean all direct monetary benefits, tax exemptions and abatements and other financial assistance, if any, derived solely from the Agency’s participation in the transaction contemplated by the Lease Agreement including, but not limited to, the amount equal to 100% of:

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 Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the Closing DateMay 27, 2020, but on or before December 31, 20242023, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2024 but on or before December 31, 20272025, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2026, but on or before December 31, 20312027, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2028 but on or before December 31, 20342028, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352029, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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 Phase 2B Facility and to accomplish the public purposes Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 20242029, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2030 but on or before December 31, 20272034, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2035 but on or before December 31, 20312039, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2040 but on or before December 31, 20342045, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352046, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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 Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 20242026, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2027 but on or before December 31, 20272035, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2036 but on or before December 31, 20312041, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2042 but on or before December 31, 20342048, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352049, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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 Company Facility and to accomplish the public purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event prior to the Completion Date or within the first (1st) or second (2nd) year after the Closing Completion Date, but on or before December 31, 2024, 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 (as defined below); (ii) If there shall occur a Recapture Event on or during the third (3rd) year after January 1, 2025 but on or before December 31, 2027the Completion Date, 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, seventy-five ninety percent (7590%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on during the fourth (4th) year after the Completion Date, 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, eighty percent (80%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event during the fifth (5th) year after January 1the Completion Date, 2028 but on the Company shall pay to the Agency, or before December 31to the State of New York, 2031if so directed by the Agency (except as otherwise specified below) as a return of public benefits conferred by the Agency, seventy percent (70%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event during the sixth (6th) year after the Completion Date, 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, sixty percent (60%) of the Recaptured Benefits; and (vi) If there shall occur a Recapture Event during the seventh (7th) year after the Completion Date, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 but on or before December 31, 2034, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 2035, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and

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: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 20242022, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2023 but on or before December 31, 20272026, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2027 but on or before December 31, 20312030, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2031 but on or before December 31, 20342032, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352033, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and.

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 Public Purposes of the Act. In consideration therefor, the Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the Closing Date, but on or before December 31, 20242020, 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 (as defined below); (ii) If there shall occur a Recapture Event on or after January 1, 2025 2021 but on or before December 31, 20272022, 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, seventy-five percent (75%) of the Recaptured Benefits; (iii) If there shall occur a Recapture Event on or after January 1, 2028 2023 but on or before December 31, 20312024, 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, fifty percent (50%) of the Recaptured Benefits; (iv) If there shall occur a Recapture Event on or after January 1, 2032 2025 but on or before December 31, 20342025, 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, twenty-five percent (25%) of the Recaptured Benefits; and (v) If there shall occur a Recapture Event on or after January 1, 20352026, the Company shall not be obligated to pay to the Agency, or to the State of New York, any of the Recaptured Benefits; and