Common use of Concessionaire Remedies Clause in Contracts

Concessionaire Remedies. A. This Lease may be terminated by Concessionaire at any time after the happening, and/or during the existence, of one or more of the following events: 1. The permanent abandonment of the Airport or the permanent removal of all certificated passenger airline service from the Airport. 2. The lawful assumption by the United States Government, or any authorized agency thereof, of the operation, control, or use of the Airport, or any substantial part or parts thereof, in a manner as substantially to restrict Concessionaire for a period of at least one hundred fifty (150) days from operating thereon. 3. The issuance by any court of competent jurisdiction of an injunction in any way preventing or restraining the use of the Airport, and the remaining in force of the injunction for a period of at least one hundred fifty (150) days. 4. The default by the Board in the performance of any covenant or agreement herein required to be performed by the Board and the failure of the Board to remedy the default for a period of sixty (60) days after receipt from Concessionaire of written notice to remedy the same. B. In the event of any Board default, recovery of damages by Concessionaire (excluding reasonable and necessary attorney’s fees and costs) shall be limited to Concessionaire's unamortized capital investment in that part of the Premises affected by the default, as certified pursuant to Section 8.01, and said default by the Board shall not prejudice the Board's right to terminate the entire Lease without cause on the conditions set forth above. CONCESSIONAIRE EXPRESSLY ACKNOWLEDGES (i) THAT THE BOARD'S INVESTMENT IN THE AIRPORT TERMINALS IS MUCH GREATER THAN CONCESSIONAIRE'S INVESTMENT IN THE CONCESSION, (ii) THAT THE BOARD MUST HAVE TOTAL CONTROL OVER THE MANAGEMENT OF THE TERMINALS FOR THE SAFETY, CONVENIENCE AND COMFORT OF THE TRAVELING PUBLIC, (iii) THAT THE BOARD IS OBLIGATED BY FEDERAL LAW TO CHARGE RATES THAT ARE AT LEAST FULLY COMPENSATORY OF THE COSTS INCURRED BY THE BOARD, AND (iv) THAT THIS LIMITATION ON CONCESSIONAIRE'S DAMAGES AND REMEDIES IS THEREFORE FAIR AND REASONABLE.

Concessionaire Remedies. A. This Lease may be terminated by Concessionaire at any time after the happening, and/or during the existence, of one or more of the following events: 1. The permanent abandonment of the Airport or the permanent removal of all certificated passenger airline service from the Airport. 2. The lawful assumption by the United States Government, or any authorized agency thereof, of the operation, control, or use of the Airport, or any substantial part or parts thereof, in a manner as substantially to restrict Concessionaire for a period of at least one hundred fifty (150) days from operating thereon. 3. The issuance by any court of competent jurisdiction of an injunction in any way preventing or restraining the use of the Airport, and the remaining in force of the injunction for a period of at least one hundred fifty (150) days. 4. The default by the Board in the performance of any covenant or agreement herein required to be performed by the Board and the failure of the Board to remedy the default for a period of sixty (60) days after receipt from Concessionaire of written notice to remedy the same. B. In the event of any Board default, recovery of damages by Concessionaire (excluding reasonable and necessary attorney’s attorney‘s fees and costs) shall be limited to Concessionaire's unamortized capital investment in that part of the Premises affected by the default, as certified pursuant to Section 8.01, and said default by the Board shall not prejudice the Board's right to terminate the entire Lease without cause on the conditions set forth above. CONCESSIONAIRE EXPRESSLY ACKNOWLEDGES (i) THAT THE BOARD'S INVESTMENT IN THE AIRPORT TERMINALS IS MUCH GREATER THAN CONCESSIONAIRE'S INVESTMENT IN THE CONCESSION, (ii) THAT THE BOARD MUST HAVE TOTAL CONTROL OVER THE MANAGEMENT OF THE TERMINALS FOR THE SAFETY, CONVENIENCE AND COMFORT OF THE TRAVELING PUBLIC, (iii) THAT THE BOARD IS OBLIGATED BY FEDERAL LAW TO CHARGE RATES THAT ARE AT LEAST FULLY COMPENSATORY OF THE COSTS INCURRED BY THE BOARD, AND (iv) THAT THIS LIMITATION ON CONCESSIONAIRE'S DAMAGES AND REMEDIES IS THEREFORE FAIR AND REASONABLE.