Continuous Underemployment Clause Samples
Continuous Underemployment. If the Company shall fail for a period of two (2) consecutive years to employ at least two (2) FTs for each year, the Agency may compute .the PILOT Payment by adjusting the exemption amount to the level ofexemption the Project would have received ifeligible for exemption under RPTL §485b. Such.an adjustment shall relate to the exemption level only, and not the TVSP.
Continuous Underemployment. If the Company shall fail for a period of two
Continuous Underemployment. If MOC and the Company, in the aggregate, shall fail for a period of two (2) consecutive years to employ at least 525 FTs for each year, the Agency may compute the PILOT Payment by adjusting the exemption amount to the level of exemption the Project would have received if eligible for exemption under RPTL §485b.