Improvement Financial Obligation Sample Clauses

Improvement Financial Obligation. Unless otherwise approved by the CEO, Concessionaire covenants and guarantees that Concessionaire shall make a collective capital investment in the improvement to the Units contemplated by this Agreement in an amount not less than the amount set forth in the Basic Information, as the “Initial Minimum Investment Amount” (“Minimum Investment Amount”). The following types of expenditures by Concessionaire shall not be included or otherwise credited toward the satisfaction of the Minimum Investment Amount: (a) any interest or financing costs; (b) any architectural, design or in-house costs in excess of fifteen percent (15%) of the hard costs for the related improvements; and (c) any costs incurred for personal property placed or installed within the Units (collectively, the “Excluded Expenditures”). The Minimum Investment Amount shall be expended by Concessionaire on the improvements to the Units as set forth in an excerpt of Concessionaire’s Proposal attached hereto and incorporated by reference herein as Exhibit A. In the event that Concessionaire fails to invest the Minimum Investment Amount as provided above, Concessionaire shall pay to City the positive shortfall, as reasonably determined by the CEO, between the Minimum Investment Amount and the amount actually invested by Concessionaire in improvements (excluding any Excluded Expenditures). Concessionaire shall pay to City any such shortfall within thirty (30) days following written demand by the CEO. K:R.T/CDG/Concessions/Food&Beverage/Areas/T7-LAX-F&B 2017-02-27-Contract-T7-LAX-F&B-v3
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Improvement Financial Obligation. Concessionaire guarantees that Concessionaire will make capital investments for the Initial Improvements to the Premises (exclusive of architectural, engineering and in-house fees in excess of fifteen percent (15%) of hard costs and any capital improvements made by City), in an amount of not less than the amount set forth in the Basic Information as the "Initial Minimum Investment Amount," allocated amongst the Units as set forth in the Basic Information; provided, however, in no event shall the Initial Minimum Investment Amount include any costs of procuring, constructing or installing in any Unit any of Concessionaire's ’’Personal Property” which includes movable displays, racks and refrigeration units/equipment, ALL point-of-sale equipment, cash drawers, sorting equipment, IT/data/computer equipment (not infrastructure), and any other items designated as such by the Executive Director. Such Initial Minimum Investment Amount shall be expended by Concessionaire on the Initial Improvements constructed in accordance with this Agreement, allocated amongst the Units as set forth in the Basic Information, on or before the date Outside MMG Commencement Date for each Unit in accordance with the Initial Improvements Plan. Concessionaire shall pay to City an amount equal to the positive shortfall, if any, between the Initial Minimum Investment Amount and the actual amount expended by Concessionaire on the Initial Improvements (exclusive of architectural, engineering and in-house fees in excess of fifteen percent (15%) of hard costs) (the "Actual Initial Investment") on a Unit-by-Unit basis as of the first day of the third (3rd) month after the MMG Commencement Date for each Unit constructed. Said payment shall be made on a Unit-by-Unit basis on or before the sixtieth (60th) day after the first day of the third (3rd) month after the MMG Commencement Date for each Unit constructed. These amounts shall exclude any sum expended by Concessionaire for the separate metering or invoicing of utilities.
Sample 1
Improvement Financial Obligation. Concessionaire guarantees that it will make capital investments for said concession, exclusive of any capital improvements made by City, in an amount of not less than $1,300,000 . Said amount shall be expended on the initial improvements constructed and in accordance with Concessionaires proposal dated March 24, 1997. Concessionaire shall provide the City with receipts and other suitable documentation of the aforementioned required expenditure as furthered referenced in Section 8-19. Concessionaire shall pay to City an amount equal to the shortfall, if any, between its total proposed investment and its actual investment as of the first day of the third month of operation of the last facility constructed. Said payment shall be made on or before the sixtieth (60th) day after the first day of the third month of operation of the last facility constructed. Should the costs to make the referenced improvements exceed the minimum required amount as stated above, said costs shall be the sole responsibility of the Concessionaire.
Sample 1

Related to Improvement Financial Obligation

  • Financial Obligation While this contract is in effect, the student is required to meet the financial obligations of this contract. Housing fees are charged through the Account Services Office. Students must pay their accounts per the policies of that office.

  • FINANCIAL OBLIGATIONS There will be no transfer of funds between the Parties under this Agreement and each Party will fund its own participation. All activities under or pursuant to this Agreement are subject to the availability of funds, and no provision of this Agreement shall be interpreted to require obligation or payment of funds in violation of the Anti-Deficiency Act, (31 U.S.C. § 1341).

  • No Financial Obligation No provision of this Escrow Agreement shall require the Escrow Agent to risk or advance its own funds or otherwise incur any financial liability or potential financial liability in the performance of its duties or the exercise of its rights under this Escrow Agreement.

  • Payment of Financial Obligations The payment or provision to the Executive by the Company of any remuneration, benefits or other financial obligations pursuant to this Agreement shall be allocated among the Operating Partnership, the REIT and any subsidiary or affiliate thereof in such manner as such entities determine in order to reflect the services provided by the Executive to such entities; provided, however, that the Operating Partnership and the REIT shall be jointly and severally liable for such obligations.

  • Development Obligations 1. The College supports the development, production, and dissemination of copyrightable, trademarkable, patentable, and other intellectual properties by its employees. 2. It is understood that intellectual property developed by employees on or off College time, except for those materials for which the College had specifically contracted prior to June 9, 1998, shall remain the property of such employees, but shall continue to be used for the benefit of the College while the employee remains an employee of the College.

  • Confidential Obligations Licensor and Licensee each recognize that the other Party’s Confidential Information constitutes highly valuable and proprietary confidential information. Licensor and Licensee each agree that during the Term and for five (5) years thereafter, it will keep confidential, and will cause its employees, consultants (including academic collaborators and CROs), professional advisors, Affiliates and, in the case of Licensee, Sublicensees to keep confidential, all Confidential Information of the other Party. Neither Licensor nor Licensee nor any of their respective employees, consultants, Affiliates or, in the case of Licensee, Sublicensees, shall use any Confidential Information of the other Party for any purpose whatsoever other than exercising any rights granted to it hereunder or as expressly permitted in this Article 5. Licensee may disclose Licensor’s Confidential Information to the extent such disclosure is reasonably necessary to file and prosecute patent applications and/or maintain patents which are filed or prosecuted in accordance with the provisions of this Agreement, or to obtain any authorization to conduct clinical studies or any regulatory approval for Licensed Products. Each Party may disclose the other Party’s Confidential Information as reasonably necessary to file, conduct or defend litigation in accordance with the provisions of this Agreement or comply with applicable laws, regulations or court orders; provided, however, that if a Party is required to make any such disclosure of the other Party’s Confidential Information in connection with any of the foregoing, it will give reasonable advance notice to the other Party of such disclosure requirement and will use reasonable efforts to assist such other Party in efforts to secure confidential treatment of such information required to be disclosed.

  • Other Material Obligations Default in the payment when due, or in the performance or observance of, any material obligation of, or condition agreed to by, any Loan Party with respect to any material purchase or lease of goods or services where such default, singly or in the aggregate with all other such defaults, might reasonably be expected to have a Material Adverse Effect.

  • Delinquent Child Support Obligations A child support obligor who is more than 30 days delinquent in paying child support and a business entity in which the obligor is a sole proprietor, partner, shareholder, or owner with an ownership interest of at least 25 percent is not eligible to receive payments from state funds under an agreement to provide property, materials, or services until all arrearages have been paid or the obligor is in compliance with a written repayment agreement or court order as to any existing delinquency. The Texas Family Code requires the following statement: “Under Section 231.006, Texas Family Code, the vendor or applicant certifies that the individual or business entity named in this contract, bid, or application is not ineligible to receive the specified grant, loan, or payment and acknowledges that this contract may be terminated and payment may be withheld if this certification is inaccurate.”

  • Parallel Operation Obligations Once the Small Generating Facility has been authorized to commence parallel operation, the Interconnection Customer shall abide by all rules and procedures pertaining to the parallel operation of the Small Generating Facility in the applicable control area, including, but not limited to: (1) the rules and procedures concerning the operation of generation set forth in the NYISO tariffs or ISO Procedures or the Connecting Transmission Owner’s tariff; (2) any requirements consistent with Good Utility Practice or that are necessary to ensure the safe and reliable operation of the Transmission System or Distribution System; and (3) the Operating Requirements set forth in Attachment 5 of this Agreement.

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