Common use of BOND ORDINANCES Clause in Contracts

BOND ORDINANCES. This Agreement is in all respects subject and subordinate to any City bond ordinances applicable to the DEN, and to any other bond ordinances, which should amend, supplement, or replace such bond ordinances. The Parties to this Agreement acknowledge and agree that all property subject to this Agreement that was financed by the net proceeds of tax-exempt bonds is owned by City. Concessionaire agrees not to take any action that would impair or omit to take any action required to confirm the treatment of such property as owned by City for purposes of §142(b) of the Internal Revenue Code of 1986, as amended. In particular, Concessionaire agrees to make and hereby makes an irrevocable election (binding on itself and all successors in interest under this Agreement) not to claim depreciation or an investment credit with respect to any property subject to this Agreement that was financed by the net proceeds of tax-exempt bonds. Concessionaire shall execute such forms and take such other action as City may request in order to implement such election. At City's sole discretion, through its CEO, City may from time to time reestablish the rentals, fees, and charges provided for herein at intervals of not more than five (5) years and be subject to the requirements of any outstanding bond ordinance pertaining to DEN. City agrees that such reestablished schedule of rentals, fees, and charges shall be reasonable in relation to the cost of providing, operating, and maintaining property, services, and facilities of DEN. If City proposes any changes in the schedule of rentals, fees, and charges, City will give notice thereof to Concessionaire no less than ninety (90) days before the same is to become effective. Concessionaire may decline to pay Compensation at the new rate(s) if such proposed rentals, fees, and charges result in an increase of more than five percent (5%) in the dollar amount of Compensation paid by Concessionaire under Article V of this Agreement for the previous calendar year. In such a case, Concessionaire shall promptly advise the CEO of its intention to cancel and terminate this Agreement at least sixty (60) days prior to the proposed effective date of such schedule of rentals, fees, and charges. Upon such notice of intent to cancel and terminate, Concessionaire shall surrender the Premises upon a date specified by City within at least one hundred twenty (120) days after Concessionaire advised City. Should Concessionaire fail to give such notice of cancellation and termination, then Concessionaire shall be deemed to have accepted the new rate(s) of compensation as promulgated by City. Failure by City to reestablish the rentals, fees, and charges at a five (5) year interval date shall not waive City's right to reestablish the rentals, fees, and charges at any time thereafter.

BOND ORDINANCES. This Agreement is in all respects subject and subordinate to any City bond ordinances applicable to the DEN, and to any other bond ordinances, which should amend, supplement, or replace such bond ordinances. The Parties to this Agreement acknowledge and agree that all property subject to this Agreement that was financed by the net proceeds of tax-exempt bonds is owned by City. Concessionaire agrees not to take any action that would impair or omit to take any action required to confirm the treatment of such property as owned by City for purposes of §142(b) of the Internal Revenue Code of 1986, as amended. In particular, Concessionaire agrees to make and hereby makes an irrevocable election (binding on itself and all successors in interest under this Agreement) not to claim depreciation or an investment credit with respect to any property subject to this Agreement that was financed by the net proceeds of tax-exempt bonds. Concessionaire shall execute such forms and take such other action as City may request in order to implement such election. At City's sole discretion, through its CEO, City may from time to time reestablish the rentalscompensation, fees, and charges provided for herein at intervals of not more than five (5) years and be are subject to the requirements of any outstanding bond ordinance pertaining to DEN. City agrees that such reestablished schedule of rentalscompensation, fees, and charges shall be reasonable in relation to the cost of providing, operating, and maintaining property, services, and facilities of DEN. If City proposes any changes in the schedule of rentalscompensation, fees, and charges, City will give notice thereof to Concessionaire no less than ninety (90) days before the same is to become effective. Concessionaire may decline to pay Compensation at the new rate(s) if such proposed rentalscompensation, fees, and charges result in an increase of more than five percent (5%) in the dollar amount of Compensation paid by Concessionaire under Article V of this Agreement for the previous calendar year. In such a case, Concessionaire shall promptly advise the CEO of its intention to cancel and terminate this Agreement at least sixty (60) days prior to the proposed effective date of such schedule of rentalscompensation, fees, and charges. Upon such notice of intent to cancel and terminate, Concessionaire shall surrender the Premises upon a date specified by City within at least one hundred twenty (120) days after Concessionaire advised City. Should Concessionaire fail to give such notice of cancellation and termination, then Concessionaire shall be deemed to have accepted the new rate(s) of compensation as promulgated by City. Failure by City to reestablish the rentalscompensation, fees, and charges at a five (5) year interval date shall not waive City's right to reestablish the rentalscompensation, fees, and charges at any time thereafter.

BOND ORDINANCES. ‌ This Agreement is in all respects subject and subordinate to any City bond ordinances applicable to the DEN, and to any other bond ordinances, which should amend, supplement, or replace such bond ordinances. The Parties to this Agreement acknowledge and agree that all property subject to this Agreement that was financed by the net proceeds of tax-tax- exempt bonds is owned by City. Concessionaire agrees not to take any action that would impair or omit to take any action required to confirm the treatment of such property as owned by City for purposes of §142(b) of the Internal Revenue Code of 1986, as amended. In particular, Concessionaire agrees to make and hereby xxxxxx makes an irrevocable election (binding on itself and all successors in interest under this Agreement) not to claim depreciation or an investment credit with respect to any property subject to this Agreement that was financed by the net proceeds of tax-exempt bonds. Concessionaire shall execute such forms and take such other action as City may request in order to implement such election. At City's sole discretion, through its CEO, City may from time to time reestablish the rentals, fees, and charges provided for herein at intervals of not more than five (5) years and be are subject to the requirements of any outstanding bond ordinance pertaining to DEN. City agrees that such reestablished schedule of rentals, fees, and charges shall be reasonable in relation to the cost of providing, operating, and maintaining property, services, and facilities of DEN. If City proposes any changes in the schedule of rentals, fees, and charges, City will give notice thereof to Concessionaire no less than ninety (90) days before the same is to become effective. Concessionaire may decline to pay Compensation at the new rate(s) if such proposed rentals, fees, and charges result in an increase of more than five percent (5%) in the dollar amount of Compensation paid by Concessionaire under Article V of this Agreement for the previous calendar year. In such a case, Concessionaire shall promptly advise the CEO of its intention to cancel and terminate this Agreement at least sixty (60) days prior to the proposed effective date of such schedule of rentals, fees, and charges. Upon such notice of intent to cancel and terminate, Concessionaire shall surrender the Premises upon a date specified by City within at least one hundred twenty (120) days after Concessionaire advised City. Should Concessionaire fail to give such notice of cancellation and termination, then Concessionaire shall be deemed to have accepted the new rate(s) of compensation as promulgated by City. Failure by City to reestablish the rentals, fees, and charges at a five (5) year interval date shall not waive City's right to reestablish the rentals, fees, and charges at any time thereafter.

BOND ORDINANCES. This Agreement Lease is in all respects subject and subordinate to any City County bond ordinances ordinances, including bond indenture and bond resolution, applicable to the DENAirport, and to any other bond ordinances, which should amend, supplement, or replace such bond ordinances. The Parties to this Agreement Lease acknowledge and agree that all property subject to this Agreement Lease that was or may be financed by the net proceeds of tax-exempt bonds is and will be owned by CityCounty. Concessionaire Xxxxxx agrees not to take any action that would impair or omit to take any action required to confirm the treatment of such property as owned by City County for purposes of §142(b) of the Internal Revenue Code of 1986, as amended. In particular, Concessionaire Xxxxxx agrees to make and hereby makes an irrevocable election (binding on itself and all successors in interest under this AgreementLease) not to claim depreciation or an investment credit with respect to any property subject to this Agreement Lease that was or may be financed by the net proceeds of tax-exempt bonds. Concessionaire Tenant shall execute such forms and take such other action as City County may request in order to implement such election. At CityCounty's sole discretion, through its CEOAirport Director, City County may from time to time reestablish the schedule of rentals, fees, and charges provided for herein at intervals of not more than five (5) years and be subject to the requirements of any outstanding bond ordinance pertaining to DENAirport. City County agrees that such reestablished schedule of rentals, fees, and charges shall be reasonable in relation to the cost of providing, operating, and maintaining property, services, and facilities of DENAirport. If City County proposes any changes in the schedule of rentals, fees, and charges, City County will give notice thereof to Concessionaire Tenant no less than ninety (90) days before the same is to become effective. Concessionaire Tenant may decline to pay Compensation Concession Space Rent at the new rate(s) if such proposed schedule of rentals, fees, and charges result in an increase of more than five percent (5%) in the dollar amount of Compensation Concession Space Rent paid by Concessionaire Tenant under Article V IV of this Agreement Lease for the previous calendar year. In such a case, Concessionaire Tenant shall promptly advise the CEO County of its intention to cancel and terminate this Agreement Lease at least sixty (60) days prior to the proposed effective date of such schedule of rentals, fees, and charges. Upon such notice of intent to cancel and terminate, Concessionaire Xxxxxx shall surrender the Leased Premises upon a date specified by City County within at least one hundred twenty fifty (120150) days after Concessionaire Tenant advised CityCounty. Should Concessionaire Tenant fail to give such notice of cancellation and termination, then Concessionaire Tenant shall be deemed to have accepted the new rate(s) schedule of compensation rentals, fees, and charges as promulgated by CityCounty. Failure by City County to reestablish the rentals, fees, and charges at a five (5) year interval date shall not waive CityCounty's right to reestablish the schedule of rentals, fees, and charges at any time thereafter.

BOND ORDINANCES. This Agreement Lease is in all respects subject and subordinate to any City County bond ordinances ordinances, including bond indenture and bond resolution, applicable to the DENAirport, and to any other bond ordinances, which should amend, supplement, or replace such bond ordinances. The Parties to this Agreement Lease acknowledge and agree that all property subject to this Agreement Lease that was or may be financed by the net proceeds of tax-exempt bonds is and will be owned by CityCounty. Concessionaire Xxxxxx agrees not to take any action that would impair or omit to take any action required to confirm the treatment of such property as owned by City County for purposes of §142(b) of the Internal Revenue Code of 1986, as amended. In particular, Concessionaire Xxxxxx agrees to make and hereby makes an irrevocable election (binding on itself and all successors in interest under this AgreementLease) not to claim depreciation or an investment credit with respect to any property subject to this Agreement Lease that was or may be financed by the net proceeds of DocuSign Envelope ID: 3D69B7F0-C0A2-48D7-BAEA-EC290E626401 tax-exempt bonds. Concessionaire Tenant shall execute such forms and take such other action as City County may request in order to implement such election. At City's County’s sole discretion, through its CEOAirport Director, City County may from time to time reestablish the schedule of rentals, fees, and charges provided for herein at intervals of not more than five (5) years and be subject to the requirements of any outstanding bond ordinance pertaining to DENAirport. City County agrees that such reestablished schedule of rentals, fees, and charges shall be reasonable in relation to the cost of providing, operating, and maintaining property, services, and facilities of DENAirport. If City County proposes any changes in the schedule of rentals, fees, and charges, City County will give notice thereof to Concessionaire Tenant no less than ninety (90) days before the same is to become effective. Concessionaire Tenant may decline to pay Compensation Concession Space Rent at the new rate(s) if such proposed schedule of rentals, fees, and charges result in an increase of more than five percent (5%) in the dollar amount of Compensation Concession Space Rent paid by Concessionaire Tenant under Article V IV of this Agreement Lease for the previous calendar year. In such a case, Concessionaire Tenant shall promptly advise the CEO County of its intention to cancel and terminate this Agreement Lease at least sixty (60) days prior to the proposed effective date of such schedule of rentals, fees, and charges. Upon such notice of intent to cancel and terminate, Concessionaire Xxxxxx shall surrender the Leased Premises upon a date specified by City County within at least one hundred twenty fifty (120150) days after Concessionaire Tenant advised CityCounty. Should Concessionaire Tenant fail to give such notice of cancellation and termination, then Concessionaire Tenant shall be deemed to have accepted the new rate(s) schedule of compensation rentals, fees, and charges as promulgated by CityCounty. Failure by City County to reestablish the rentals, fees, and charges at a five (5) year interval date shall not waive City's County’s right to reestablish the schedule of rentals, fees, and charges at any time thereafter.