Limit on Cumulative Credits Sample Clauses

Limit on Cumulative Credits. (1) For no Fiscal Year during the Term may the sum of all Inside Concession Revenue Credits, Per-Passenger Credits, R&E Fund Credits and Supplemental R&E Fund Credits exceed one hundred percent (100%) of the sum of actual Inside Concessions Revenues and actual Outside Concessions Revenues . In the event that the sum of all Inside Concession Revenue Credits, Per-Passenger Credits, R&E Fund Credits and Supplemental R&E Fund Credits exceeds one hundred percent (100%) of the sum of actual Inside Concessions Revenues and actual Outside Concessions Revenues for any Fiscal Year, City will reduce the R&E Fund Credit and the Supplemental Fund Credit, if any, to be given to each Signatory Airline in equal proportion to the sum of their Inside Concession Revenue Credits, Per-Passenger Credits, R&E Fund Credits and Supplemental R&E Fund Credits for that Fiscal Year so that the aggregate Inside Concession Revenue Credits, Per-Passenger Credits, R&E Fund Credits and Supplemental R&E Fund Credits given to all Signatory Airlines for that Fiscal Year equal, but do not exceed, one hundred percent (100%) of the sum of actual Inside Concessions Revenues and actual Outside Concessions Revenues.‌ (2) The limit on cumulative credits established by Section 8.08.E(1), above, shall cease to apply for any Fiscal Year beginning after the end of the Fiscal Year in which the final payment of all City Airport revenue bonds which are not private activity bonds is made. (3) If, by reason of the limit on cumulative credits established by Section 8.08.E(1), above, City reduces the aggregate Inside Concession Revenue Credits, Per- Passenger Credits, R&E Fund Credits and Supplemental R&E Fund Credits that would otherwise be given to all Signatory Airlines for any Fiscal Year, City shall use any unencumbered balance in the R&E Subaccount that exceeds Four Hundred Million Dollars ($400,000,000) at that time to reduce Airline Rate- Based Capital Costs.
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Related to Limit on Cumulative Credits

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