EXTRAORDINARY ADJUSTMENTS OF RENTS Sample Clauses

EXTRAORDINARY ADJUSTMENTS OF RENTS. FEES, AND CHARGES Notwithstanding any other provisions hereof, if, at any time during the Term of this Agreement, Airport Revenue (and the reserves designated for such purposes) is not sufficient to pay when due Airport obligations, including, without limitation, emergency repairs or expenses that relate to the Airport or any aspect thereof, City may, with thirty (30) days' notice to and in consultation with Airline and other airlines, recalculate the rents, fees, and charges in accordance with this Article 6 using revised Airport operating costs, expenses and projected Airport activity. If such an extraordinary adjustment of rents, fees, and charges is necessary, the City will review operating costs and as a prudent airport operator make appropriate adjustments, if possible, to Airport operating expenses. Any adjustment to operating expenses would be reflected in the adjustment of rents, fees, and charges. Also, adjustments must be consistent with the requirement of the Bond Ordinance, FAA Sponsor’s Assurances, requirements of the traveling public, and the needs of Airport users.
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Related to EXTRAORDINARY ADJUSTMENTS OF RENTS

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