Repayment Required Sample Clauses

Repayment Required. A $500,000 Award to assist with site development was part of Company A’s consideration to locate in Georgia rather than an out-of-state location. As part of the deal, Company A committed to create 600 jobs and make a $5,000,000 new investment to construct and operate a new production facility in Georgia. At the end of the Performance Period, Company A has actually created 400 jobs and invested $3,500,000 into a smaller facility. • Award Amount $500,000 • Commitment – 600 jobs and $5,000,000 new investment • Actual jobs delivered – 400 (66% of Commitment) • Actual investment delivered -- $3,500,000 (70% of Commitment) • 66%+70% = 136/2 = 68% [Average Actual Performance] • $340,000 (68%) Adjusted Award Amount • $160,000 (32%) Repayment Amount Example BNo Repayment Necessary A $500,000 Award to assist with the purchase of production equipment was part of Company B’s consideration to locate in Georgia rather than an out-of-state location. As part of the deal, Company B committed to create 600 jobs and make a $5,000,000 capital investment to construct and operate a new manufacturing facility in Georgia. At the end of the Performance Period, Company B has actually created 600 jobs and invested $4,250,000 into a redesigned facility that saved $750,000 in capital investment. • Award Amount $500,000 • Commitment – 600 jobs & $5,000,000 investment • Actual jobs delivered – 600 (100%) • Actual investment delivered -- $4,250,000 (85%) • 100%+85% = 185/2 = 92.5% Benefit • No repayment required Example C – No Repayment Necessary A $500,000 Award to assist with the purchase of production equipment was part of Company C’s consideration to locate in Georgia rather than an out-of-state location. As part of the deal, Company C committed to create 600 jobs and make a $5,000,000 capital investment to construct and operate a new manufacturing facility in Georgia. At the end of the Performance Period, Company C has actually created 700 jobs and invested $3,500,000 into a redesigned facility that saved $1,500,000 in capital investment. • Award Amount $500,000 • Commitment – 600 jobs & $5,000,000 investment • Actual jobs delivered – 700 (117% but limited to 110% credit) • Actual investment delivered -- $3,500,000 (70%) • 110%+70% = 180/2 = 90.0% Benefit • No repayment required
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Repayment Required. A $250,000 Unpaid Tax Amount to assist with Company A’s manufacturing facility was part of Company A’s consideration to locate in Hall County rather than an out-of-state location. As part of the deal, Company A committed to create 150 jobs and make a $10,000,000 new investment to construct and operate a new production facility in Georgia. Twenty four months following the opening of the facility, Company A has actually created 90 jobs and invested $6,500,000 into a smaller facility. • Unpaid Tax Amount $250,000 • Commitment – 150 jobs and $10,000,000 new investment • Actual jobs delivered – 90 (60% of Commitment) • Actual investment delivered -- $6,500,000 (65% of Commitment) • 60%+65% = 125/2 = 62.5% [Average Actual Performance] • $156,250 (62.5%) Adjusted Unpaid Tax Amount • $93,750 (37.5%) Repayment Amount Example BNo Repayment Necessary A $100,000 Unpaid Tax Amount to assist with the purchase of production equipment was part of Company B’s consideration to locate in Hall County rather than an out-of-state location. As part of the deal, Company B committed to create 150 jobs and make a $10,000,000 capital investment to expand a manufacturing facility in Hall County. 36 months following the opening of the facility, Company B has actually created 150 jobs and invested $8,500,000 into the facility. • Unpaid Tax Amount $100,000 • Commitment – 150 jobs & $10,000,000 investment • Actual jobs delivered – 150 (100%) • Actual investment delivered -- $8,500,000 (85%) • 100%+85% = 185/2 = 92.5% [Average Actual Performance] • No Payment Required

Related to Repayment Required

  • Principal Repayment Series 2018-B [Insert columns for other Series]

  • Cumulative Prepayments Except as otherwise expressly provided in this Section 2.05, payments with respect to any subsection of this Section 2.05 are in addition to payments made or required to be made under any other subsection of this Section 2.05.

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