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<br />Pi) <br />0 J! <br /> <br />01)'" <br />('7,. t.,' ,,! <br />ju "-9- <br /> <br />by the City. <br /> <br />In the event of termination pursuant to the <br /> <br />provisions of this paragraph, the taxes otherwise abated for <br /> <br />the calendar year in which default occurs shall be paid to <br /> <br />the <br /> <br />City <br /> <br />prior <br /> <br />to <br /> <br />the <br /> <br />delinquency <br /> <br />date <br /> <br />for <br /> <br />such <br /> <br />year; <br /> <br />provided, that in no event shall Factory Stores be required <br /> <br />to pay such taxes within less than sixty (60) <br /> <br />days of the <br /> <br />termination. <br /> <br />2. If Factory Stores, through its tenants, defaults with respect <br /> <br />to job creation and maintenance as specified in Section II(B) <br /> <br />above during calendar years 1992, <br /> <br />1993, <br /> <br />1994 or 1995, then <br /> <br />for each full-time job equivalent less than 401 created and <br /> <br />maintained, Factory Stores shall be required to pay to the <br /> <br />City <br /> <br />an <br /> <br />amount <br /> <br />of <br /> <br />money <br /> <br />equal <br /> <br />to <br /> <br />1/401 <br /> <br />of <br /> <br />the <br /> <br />total <br /> <br />accumulated amount of abated taxes under this Agreement at <br /> <br />the time default is declared by the City Council. <br /> <br />Default <br /> <br />with respect to job maintenance as specified in Section II(B) <br /> <br />above <br /> <br />for calendar years <br /> <br />1992, <br /> <br />1993, <br /> <br />1994 <br /> <br />or <br /> <br />1995 <br /> <br />shall <br /> <br />consist of Factory Stores maintaining, through its tenants, <br /> <br />fewer than 401 full-time job equivalents during anyone of <br /> <br />such calendar years. <br /> <br />In addition to the payment described <br /> <br />above, such default shall result in the tax abatement for the <br /> <br />remainder <br /> <br />of <br /> <br />the <br /> <br />Abatement <br /> <br />Period <br /> <br />being <br /> <br />subject <br /> <br />to <br /> <br />termination by the City; provided, that if such default is <br /> <br />the result of a force majeure event, then the amount of the <br /> <br />tax abatement for the calendar year during which the default <br /> <br />occurs <br /> <br />shall <br /> <br />be <br /> <br />reduced <br /> <br />by <br /> <br />the <br /> <br />fractional <br /> <br />proportions <br /> <br />applicable to such year as stated above, <br /> <br />and such default <br /> <br />shall not give rise to termination of this Agreement by the <br />