Abatement of Minimum Annual Guarantee. If Concessionaire is in full compliance with the terms, covenants and conditions set forth herein, then the SFRAA may proportionately reduce the Concessionaire’s prorated monthly Minimum Annual Guarantee payment provided for herein if the number of passengers enplaning on scheduled airline flights at the Airport during any three (3) consecutive calendar months, is less than seventy-five percent (75%) of the number of enplaning passengers in each of the same three (3) consecutive calendar months of (a) the preceding year or (b) the last twelve (12) calendar month period preceding the first Contract Year of this Concession Agreement. Such proportionate reduction shall be determined by multiplying the prorated monthly Minimum Annual Guarantee for each qualifying month by the applicable percentage reduction in passengers enplaning on scheduled airline flights at the Airport for such month. Such proportionate reduction of the monthly Minimum Annual Guarantee shall be discontinued when the enplaning passengers for a calendar month equal or exceed seventy-five percent (75%) of the passengers enplaning on scheduled airline flights at the Airport in the same calendar month of (a) the preceding year or (b) the year preceding the first Contract Year of this Concession Agreement, whichever year was used in determining the abatement.
Abatement of Minimum Annual Guarantee. During any calendar month during the Period of the Contract, if, for any reason, the total number of passengers deplaning scheduled airline flights at the Airport who are not connecting to other flights (“Non-Connecting Deplaning Passengers”) shall be less than eighty percent (80%) of the total number of Non-Connecting Deplaning Passengers (in accordance with such traffic records as are maintained by the Airports Authority) in the same calendar month period of the preceding calendar year, then the Minimum Annual Guarantee in Section 5.01(a)(1) herein shall be abated in proportion to the decrease in such deplaning passengers for the period of time such condition continues to exist. As an example, should Non-Connecting Deplaning Passengers from scheduled airline flights decrease eighty percent (80%) from the same month the previous year, the Minimum Annual Guarantee would be reduced to twenty percent (20%) of the Minimum Annual Guarantee otherwise due for that month. During said period of time, the Contractor shall continue to pay to the Airports Authority the monthly percentage concession fee due under the Contract, as defined in Section 5.01(a)(2) herein. The Airports Authority reserves the right to determine when the applicable Minimum Annual Guarantee requirement shall be reinstated.
Abatement of Minimum Annual Guarantee. During any Contract Year, if, for any reason, the total number of passengers deplaning scheduled airline flights at the Airport who are not connecting to other flights (“Non- Connecting Deplaning Passengers”) shall be less than eighty percent (80%) of the total number of Non-Connecting Deplaning Passengers (in accordance with such traffic records as are maintained by the Authority) in the preceding Contract Year, then the MAG in Section 5.01(a)(1) herein shall be abated in an amount equal to the percentage decrease in such deplaning passengers for the Contract Year in which the condition existed. During said Contract Year, the Contractor shall continue to pay to the Authority the monthly percentage concession fee due under the Contract, as defined in Section 5.01(a)(2) herein. The Authority reserves the right to determine when the applicable MAG requirement shall be reinstated.
