• Nov. 2, 2010 … $10.9 million. “Upon delivery and the Date of Issuance of the Bonds AND after the date when [38 Studios], or a letter of credit bank selected by [38 Studios], presents reasonable documentary evidence to the [EDC] that the letter of credit required in connection with [38 Studios'] execution of that Lease dated Sept. 20, 2010 is to be issued subject only to the funding of a deposit account at such letter of credit.”
• Nov. 2, 2010 … $2.1 million. ”Collateralization for letter of credit that serves as the security deposit on Empire Street lease.”
• Dec. 10, 2010 … $9.4 million. ”Upon public announcement by [38 Studios] of a relocation date to RI.”
• April 18, 2011 … $17.2 million. ”Upon relocation of [38 Studios'] headquarters and the current object, Coperncius studio to RI AND the creation of at least 80 full-time jobs in RI with an average annual wage not less than $67,500 per year.”
• April 18, 2011 … $4.2 million. “Upon the creation by [38 Studios] of an additional 45 full-time jobs in RI with an average annual wage not less than $67,500 per year.”
• Aug. 16, 2011 … $4.1 million. ”Upon the entry by [38 Studios] into a satisfactory distribution agreement for its Project Copernicus.”
• Nov. 2, 2011 … $1.6 million. ”Upon the creation by [38 Studios] of at least an additional 125 full-time jobs in RI with an average annual wage of not less than $67,500 per year.”
Total … $49.5 million between Nov. 2, 2010, and Nov. 2, 2011.