Second Recapture Period Sample Clauses
Second Recapture Period. If, for the time period from the Fourth Anniversary Date through September 30, 2021 (the “Eighth Anniversary Date”), Grantee has not paid Compensation to Full Time Workers at Grantee’s Facility in the aggregate amount of One Hundred Forty-Four Million Dollars ($144,000,000), then in that case, Grantee shall be liable to pay to the Authority a Recapture Payment. The Recapture Payment for the Eighth Anniversary Date shall be determined by subtracting the amount of compensation actually paid to Full Time Workers from the Fourth Anniversary Date through the Eighth Anniversary Date from One Hundred Forty-Four Million Dollars ($144,000,000), and multiplying the difference by three and one half percent (3.5%). By way of example only, if during the time period from the Fourth Anniversary Date through the Eighth Anniversary Date, Grantee has paid Compensation to Full Time Workers in the aggregate amount of One Hundred Million Dollars, ($100,000,000), Grantee would owe a Recapture Payment to the Authority in the amount of Forty-Four Million ($44,000,000) multiplied by 3.5%, equal to One Million, Five Hundred Forty Thousand Dollars ($1,540,000).
Second Recapture Period. In the event that Landlord has the right, and timely elects, to extend Landlord’s recapture of the Expansion Space for the Second Recapture Period, then, notwithstanding anything to the contrary set forth in the Lease or this Fourth Amendment, Tenant shall have no surrender obligations whatsoever with respect to the Expansion Space.
Second Recapture Period. The second Recapture Period (“Second Recapture Period”) shall be the period commencing immediately following the last day of the First Recapture Period and ending on May 31, 2018; provided, however, that the Second Recapture Period shall commence and be in effect only if (1) Landlord timely exercised Landlord’s Recapture Right for the First Recapture Period pursuant to Section 2(a)(i), (2) Tenant did not exercise the Termination Option provided for in Section 2.13 of the Original Lease, and (3) Landlord notifies Tenant in writing not less than one hundred fifty (150) days prior to the expiration of the First Recapture Period that Landlord elects to extend Landlord’s recapture of the Expansion Space for the Second Recapture Period.