Common use of COMMENCEMENT AND COMPLETION OF THE PROJECT Clause in Contracts

COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 8 SECTION 3.02 DILIGENT COMPLETION 8 SECTION 3.03 FILINGS AND REPORTS 8 SECTION 4.01 FILOT PAYMENTS 10 SECTION 4.02 FAILURE TO ACHIEVE CONTRACT MINIMUM INVESTMENT REQUIREMENTS 11 SECTION 4.03 REMOVAL OF PROJECT PROPERTY 12 SECTION 4.04 FILOT PAYMENTS ON REPLACEMENT PROPERTY 12 SECTION 4.05 REDUCTIONS IN PAYMENT OF TAXES UPON DIMINUTION IN VALUE; INVESTMENT MAINTENANCE REQUIREMENT 12 SECTION 5.01 CESSATION OF OPERATIONS 14 SECTION 5.02 RIGHTS TO INSPECT 14 SECTION 5.03 CONFIDENTIALITY 14 SECTION 5.04 LIMITATION OF COUNTY’S LIABILITY 15 SECTION 5.05 MERGERS, REORGANIZATIONS AND EQUITY TRANSFERS 15 SECTION 5.06 INDEMNIFICATION COVENANTS 15 SECTION 5.07 QUALIFICATION IN STATE 16 SECTION 5.08 NO LIABILITY OF COUNTY’S PERSONNEL 16 SECTION 5.09 ASSIGNMENT, LEASES OR TRANSFERS 16 SECTION 5.10 ADMINISTRATION EXPENSES 17 SECTION 5.11 PRIORITY LIEN STATUS 17 SECTION 5.12 INTEREST; PENALTIES 18 SECTION 5.13 SPONSOR AFFILIATES 18

COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 8 7 SECTION 3.02 DILIGENT COMPLETION 8 7 SECTION 3.03 FILINGS AND REPORTS 8 7 SECTION 4.01 FILOT PAYMENTS 10 9 SECTION 4.02 FAILURE TO ACHIEVE CONTRACT MINIMUM INVESTMENT REQUIREMENTS 11 REQUIREMENT 10 SECTION 4.03 REMOVAL OF PROJECT PROPERTY 12 EQUIPMENT 10 SECTION 4.04 FILOT PAYMENTS ON REPLACEMENT PROPERTY 12 10 SECTION 4.05 REDUCTIONS IN PAYMENT OF TAXES UPON DIMINUTION IN VALUE; INVESTMENT MAINTENANCE REQUIREMENT 12 11 SECTION 5.01 CESSATION OF OPERATIONS 14 12 SECTION 5.02 RIGHTS TO INSPECT 14 12 SECTION 5.03 CONFIDENTIALITY 14 12 SECTION 5.04 LIMITATION OF COUNTY’S 'S LIABILITY 15 12 SECTION 5.05 MERGERS, REORGANIZATIONS AND EQUITY TRANSFERS 15 13 SECTION 5.06 INDEMNIFICATION COVENANTS 15 13 SECTION 5.07 QUALIFICATION IN STATE 16 14 SECTION 5.08 NO LIABILITY OF COUNTY’S 'S PERSONNEL 16 14 SECTION 5.09 ASSIGNMENT, LEASES OR TRANSFERS 16 14 SECTION 5.10 ADMINISTRATION EXPENSES 17 15 SECTION 5.11 PRIORITY LIEN STATUS 17 15 SECTION 5.12 INTEREST; PENALTIES 18 15 SECTION 5.13 SPONSOR AFFILIATES 1815

COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 8 6 SECTION 3.02 DILIGENT COMPLETION 8 6 SECTION 3.03 FILINGS AND REPORTS 8 6 SECTION 4.01 FILOT PAYMENTS 10 7 SECTION 4.02 RESERVED 8 SECTION 4.03 FAILURE TO ACHIEVE CONTRACT MINIMUM INVESTMENT REQUIREMENTS 11 REQUIREMENT 8 SECTION 4.03 4.04 REMOVAL OF PROJECT PROPERTY 12 EQUIPMENT 8 SECTION 4.04 4.05 FILOT PAYMENTS ON REPLACEMENT PROPERTY 12 9 SECTION 4.05 4.06 REDUCTIONS IN PAYMENT OF TAXES UPON DIMINUTION IN VALUE; INVESTMENT MAINTENANCE REQUIREMENT 12 9 SECTION 5.01 CESSATION OF OPERATIONS 14 10 SECTION 5.02 RIGHTS TO INSPECT 14 10 SECTION 5.03 CONFIDENTIALITY 14 10 SECTION 5.04 LIMITATION OF COUNTY’S LIABILITY 15 11 SECTION 5.05 MERGERS, REORGANIZATIONS AND EQUITY TRANSFERS 15 11 SECTION 5.06 INDEMNIFICATION COVENANTS 15 11 SECTION 5.07 QUALIFICATION IN STATE 16 12 SECTION 5.08 NO LIABILITY OF COUNTY’S PERSONNEL 16 12 SECTION 5.09 ASSIGNMENT, LEASES OR TRANSFERS 16 12 SECTION 5.10 ADMINISTRATION EXPENSES 17 13 SECTION 5.11 PRIORITY LIEN STATUS 17 13 SECTION 5.12 INTEREST; PENALTIES 18 13 SECTION 5.13 SPONSOR AFFILIATES 1813 SECTION 6.01 EVENTS OF DEFAULT 14 SECTION 6.02 REMEDIES UPON DEFAULT 14 SECTION 6.03 REIMBURSEMENT OF LEGAL FEES AND EXPENSES AND OTHER EXPENSES 15 SECTION 6.04 NO WAIVER 15 SECTION 7.01 NOTICES 15 SECTION 7.02 BINDING EFFECT 16 SECTION 7.03 COUNTERPARTS 16 SECTION 7.04 GOVERNING LAW 17 SECTION 7.05 HEADINGS 17 SECTION 7.06 AMENDMENTS 17 SECTION 7.07 FURTHER ASSURANCE 17 SECTION 7.08 INVALIDITY; CHANGE IN LAWS 17 SECTION 7.09 TERMINATION BY COMPANY 17 SECTION 7.10 ENTIRE UNDERSTANDING 18 SECTION 7.11 WAIVER 18 SECTION 7.12 BUSINESS DAY 18 EXHIBIT A – DESCRIPTION OF LAND EXHIBIT B – INVESTMENT CERTIFICATION “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax Agreement or a summary compliant with Section 12-44-55 of the Code.

COMMENCEMENT AND COMPLETION OF THE PROJECT. SECTION 3.01 THE PROJECT 8 7 SECTION 3.02 DILIGENT COMPLETION 8 7 SECTION 3.03 FILINGS AND REPORTS 8 7 SECTION 4.01 FILOT PAYMENTS 10 9 SECTION 4.02 FAILURE TO ACHIEVE CONTRACT MINIMUM INVESTMENT REQUIREMENTS 11 REQUIREMENT 10 SECTION 4.03 REMOVAL OF PROJECT PROPERTY 12 EQUIPMENT 10 SECTION 4.04 FILOT PAYMENTS ON REPLACEMENT PROPERTY 12 11 SECTION 4.05 REDUCTIONS IN PAYMENT OF TAXES UPON DIMINUTION IN VALUE; INVESTMENT MAINTENANCE REQUIREMENT 12 11 SECTION 5.01 CESSATION OF OPERATIONS 14 12 SECTION 5.02 RIGHTS TO INSPECT 14 12 SECTION 5.03 CONFIDENTIALITY 14 12 SECTION 5.04 LIMITATION OF COUNTY’S LIABILITY 15 13 SECTION 5.05 MERGERS, REORGANIZATIONS AND EQUITY TRANSFERS 15 13 SECTION 5.06 INDEMNIFICATION COVENANTS 15 13 SECTION 5.07 QUALIFICATION IN STATE 16 14 SECTION 5.08 NO LIABILITY OF COUNTY’S PERSONNEL 16 14 SECTION 5.09 ASSIGNMENT, LEASES OR TRANSFERS 16 14 SECTION 5.10 ADMINISTRATION EXPENSES 17 15 SECTION 5.11 PRIORITY LIEN STATUS 17 15 SECTION 5.12 INTEREST; PENALTIES 18 15 SECTION 5.13 SPONSOR AFFILIATES 1816 SECTION 6.01 EVENTS OF DEFAULT 17 SECTION 6.02 REMEDIES UPON DEFAULT 17 SECTION 6.03 REIMBURSEMENT OF LEGAL FEES AND EXPENSES AND OTHER EXPENSES 18 SECTION 6.04 NO WAIVER 18 SECTION 7.01 NOTICES 19 SECTION 7.02 BINDING EFFECT 19 SECTION 7.03 COUNTERPARTS 20 SECTION 7.04 GOVERNING LAW 20 SECTION 7.05 HEADINGS 20 SECTION 7.06 AMENDMENTS 20 SECTION 7.07 FURTHER ASSURANCE 20 SECTION 7.08 INVALIDITY; CHANGE IN LAWS 20 SECTION 7.09 TERMINATION BY COMPANY 20 SECTION 7.10 ENTIRE UNDERSTANDING 21 SECTION 7.11 WAIVER 21 SECTION 7.12 BUSINESS DAY 21 EXHIBIT A – DESCRIPTION OF LAND EXHIBIT B – INVESTMENT CERTIFICATION As permitted under Section 12-44-55(B), Code of Laws of South Carolina 1976, as amended (the “Code”), the parties have agreed to waive the requirements of Section 12-44-55 of the Code. The following is a summary of the key provisions of this Fee in Lieu of Tax Agreement. This summary is inserted for convenience only and does not constitute a part of this Fee in Lieu of Tax Agreement or a summary compliant with Section 12-44-55 of the Code. Company Name: Project Name: Gatsby Projected Investment: $8,800,000 Projected Jobs: 100