Drop in Deplanements Sample Clauses

Drop in Deplanements. If, during the term of this Agreement, annual passenger deplanements at the Airport fall below 80% of the actual number of passenger deplanements at the Airport during the year 2016, the MAG shall be waived for that year and the Annual Privilege Fee shall be ten percent (10%) of Gross Revenue. In such case, that portion of the Annual Privilege Fee paid by Company during that year that exceeds ten percent (10%) of its Gross Revenue for such period shall be applied to the Annual Privilege Fee otherwise payable during the next succeeding calendar year.
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