Common use of If Statutory Minimum Eligibility Requirements are Not Met Clause in Contracts

If Statutory Minimum Eligibility Requirements are Not Met. 115 of the Virginia Code requires that ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ make a Capital Investment of at least $5,000,000 in the Facility and create and Maintain at least 50 New Jobs at the Facility in order to be eligible for the COF Grant. Failure by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ to meet either of these statutory minimum eligibility requirements by the Performance Date shall constitute a breach of this Agreement and the entire COF Grant must be repaid. ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ must repay any COF Grant proceeds received from the ▇▇▇. The County must repay to VEDP any COF Grant proceeds received from the ▇▇▇ and any COF Grant proceeds being held for disbursement.

If Statutory Minimum Eligibility Requirements are Not Met. Section 2.2-115 of the Virginia Code requires that ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ APT make a Capital Investment of at least $5,000,000 in the Facility and create and Maintain at least 50 New Jobs at the Facility in order to be eligible for the COF Grant. Failure by ▇▇▇▇▇ ▇▇▇▇▇▇▇▇ APT to meet either of these statutory minimum eligibility requirements by the Performance Date shall constitute a breach of this Agreement and the entire COF Grant must be repaid. ▇▇APT must repay to the ▇▇▇ ▇▇▇▇▇▇▇▇ must repay any COF Grant proceeds received from and the ▇▇▇▇ shall repay such COF Grant proceeds to the County. The County must repay to VEDP any COF Grant proceeds received from the ▇▇▇ and any COF Grant proceeds being held for disbursement.