Common use of Recapture of Agency Benefits Clause in Contracts

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: (i) If there shall occur a Recapture Event after the date hereof, the Lessee or the Sublessee shall pay to the Agency as a return of public benefits conferred by the Agency, the following amounts: (A) one hundred per cent (100%) of the Benefits (as defined below) if the Recapture Event occurs within the first (4) years after the date hereof; (B) eighty per cent (80%) of the Benefits if the Recapture Event occurs during the fifth (5th) year after the date hereof; (C) sixty per cent (60%) of the Benefits if the Recapture Event occurs during the sixth (6th) year after the date hereof; (D) forty per cent (40%) of the Benefits if the Recapture Event occurs during the seventh (7th) year after the date hereof; or (E) twenty per cent (20%) of the Benefits if the Recapture Event occurs during the eighth (8th) year after the date hereof.

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: (i) If there shall occur a Recapture Event after the date hereof, the Lessee or the Sublessee shall pay to the Agency as a return of public benefits conferred by the Agency, the following amounts: (A) one hundred per cent (100%) of the Benefits (as defined below) if the Recapture Event occurs within the first five (45) years after the date hereof; (B) eighty per cent (80%) of the Benefits if the Recapture Event occurs during the fifth period from the sixty (5th6th) year through and including the eighth (8th) year after the date hereof; (C) sixty per cent (60%) of the Benefits if the Recapture Event occurs during the sixth ninth (6th9th) year after the date hereof; (D) forty per cent (40%) of the Benefits if the Recapture Event occurs during the seventh tenth (7th10th) year after the date hereof; or (E) twenty per cent (20%) of the Benefits if the Recapture Event occurs during the eighth eleventh (8th11th) year after the date hereof.

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: (i) If there shall occur a Recapture Event (as defined below) after the date hereof, hereof the Lessee or the Sublessee shall pay to the Agency as a return of public benefits conferred by the Agency, the following amounts: (A) one hundred per cent (100%) of the Benefits (as defined below) if the Recapture Event occurs within the first (4) years after the date hereof; (B) eighty per cent (80%) of the Benefits if the Recapture Event occurs during the fifth (5th) year after the date hereof; (C) sixty per cent (60%) of the Benefits if the Recapture Event occurs during the sixth (6th) year after the date hereof; (D) forty per cent (40%) of the Benefits if the Recapture Event occurs during the seventh (7th) year after the date hereof; or (E) twenty per cent (20%) of the Benefits if the Recapture Event occurs during the eighth (8th) year after the date hereof.

Recapture of Agency Benefits. It is understood and agreed by the parties to this Agreement hereto that the Agency is entering into this Lease Agreement in order to provide financial assistance to the Lessee Company for the Project Facility and to accomplish the public purposes Public Purposes of the Act. In consideration therefor, the Lessee Company hereby agrees as follows: (ia) If there shall occur a Recapture Event after the date hereof, the Lessee or the Sublessee 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: (Ai) one hundred per cent percent (100%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs within the first five (45) years after the date hereof; (Bii) eighty per cent percent (80%) of the Recaptured Benefits if the Recapture Event occurs during the fifth (5thas defined below) year after the date hereof; (C) sixty per cent (60%) of the Benefits if the Recapture Event occurs during the sixth (6th) year through and including the eighth (8th) year after the date hereof; (Diii) forty per cent sixty percent (4060%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs during the seventh ninth (7th9th) 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 (Ev) twenty per cent percent (20%) of the Recaptured Benefits (as defined below) if the Recapture Event occurs during the eighth eleventh (8th11th) year after the date hereof.

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 Company for the Project and to accomplish the public purposes of the Act. In consideration therefor, the Lessee Company hereby agrees as follows: (i) If there shall occur a Recapture Event after the date hereof, hereof the Lessee or the Sublessee Company shall pay to the Agency as a return of public benefits conferred by the Agency, the following amounts: (A) one hundred per cent (100%) of the Benefits (as defined below) if the Recapture Event occurs within the first (4) years after the date hereof; (B) eighty per cent (80%) of the Benefits if the Recapture Event occurs during the fifth (5th) year after the date hereof; (C) sixty per cent (60%) of the Benefits if the Recapture Event occurs during the sixth (6th) year after the date hereof; (D) forty per cent (40%) of the Benefits if the Recapture Event occurs during the seventh (7th) year after the date hereof; or (E) twenty per cent (20%) of the Benefits if the Recapture Event occurs during the eighth (8th) year after the date hereof.