Required Jobs definition
Examples of Required Jobs in a sentence
The dollar amount of eligible forgiveness shall be calculated by multiplying (i) the number of Required Jobs that were cumulatively created during the first year following the renovation and which same Jobs remain at the Facility on the one year anniversary date, by (ii) $5,333.33, up to, but not exceeding, $16,000.00 per year for up to five years.
Borrower shall create the Required Jobs for the Project within six months of the date of this agreement, and the Required Jobs shall be maintained at the Facility for at least five years.
The Required Wage shall apply to all Required Jobs and Additional Jobs.
Upon request from the Comptroller, the Company shall provide to the Comptroller a schedule of Required Jobs created in relation to this Agreement as of the date of the request.
The Company shall continuously operate the Facility, and create and maintain during the Employment Period the following Required Jobs, Required Payroll, and Required Taxable Purchases: Project Year 1 Payroll shall include Payroll (excluding construction specific Payroll) created between the effective date of this Agreement and the start of Project Year 1.
During each Project Year, the Company shall maintain the following Required Jobs and Required Payroll: 1 158 $2,940 ,000 2 317 $6,080,000 3 317 $6,260,000 4 317 $6,450,000 5 317` $6,640,000 6 317 $6,840,000 7 317 $7,040,000 Failure to maintain Required Jobs shall not be considered a default if Required Payroll is met or nonperformance reimbursement timely made in accordance with Section 4.03(A).
This Agreement will terminate immediately in the event of non-appropriation of funds sufficient to maintain this Agreement without the requirement of notice and the City will not be liable for any amounts beyond the funds appropriated and encumbered for this Agreement and the Company will have no further obligations to the City including the obligations related to maintaining Operations, Required Jobs or Required Payroll.
The Company is eligible for economic development incentives, tax exemptions, credits, or rebate programs in relation to activities at other sites within the State, provided the Company is and remains in compliance with all obligations hereunder, including achievement of Required Capital Investment, Required Jobs, Required Payroll, and Required Taxable Purchases.
Should the GRANTEE create or maintain a number of jobs equal to or exceeding 50% of the number of New Full-Time Jobs required under this Agreement (greater than or equal to 225 jobs but less than the 450 Required Jobs), then GRANTOR shall be entitled to recapture a pro rata amount of $1,250.00 the amount granted per New Full Time Job, for each job not created or maintained as set forth in Sections 2 and 3.