Minimum Annual Concession Fee Sample Clauses

Minimum Annual Concession Fee a. The Minimum Annual Concession Fee shall equal the sum of the Annual Rental Fee, which is based on the fair market value of the Premises, plus the Minimum Annual Privilege Fee, which fee is paid for the grant by the Aviation Authority of a franchise to engage in the business of operating the Concession within facilities operated and controlled by the Aviation Authority. The portion of the Minimum Annual Concession Fee that consists of the Annual Rental Fee will be determined by the Aviation Authority by an appraisal prior to the Commencement Date and the Minimum Annual Privilege Fee will be calculated at that time by subtracting the Annual Rental Fee from the initial Minimum Annual Concession Fee. For the period beginning on the Commencement Date and ending on September 30th after the opening to the public of the South Terminal Complex opens to the public (the "Initial Period"), the Minimum Annual Concession Fee shall be One Million Six Hundred Fifty Thousand and No/100 Dollars ($1,650,000.00) provided, however, that if such Initial Period is longer or shorter than twelve (12) months, the Minimum Annual Concession Fee payable by Company to the Aviation Authority for such period shall be an amount determined by dividing the Minimum Annual Concession Fee by 365, and multiplying such quotient by the number of days in the Initial Period. b. Within ninety (90) calendar days of the end of the Initial Period, and each subsequent Agreement Period, effective October 1st thereof, the Minimum Annual Concession Fee shall be adjusted to equal the greater of: (1) an amount calculated by multiplying .85 times the total Concession Fees due for the prior Agreement Period, or (2) the Initial Period’s Minimum Annual Concession Fee. Any adjustment in the Minimum Annual Concession Fee associated with the provisions of Article 5.A.1.b. (1) shall result in an identical adjustment to the Minimum Annual Privilege Fee, and shall not affect the Annual Rental Fee, subject to the provision of Article 5.A.1.c., herein. Notwithstanding the foregoing, in the event Company is not open for business for the entire prior Agreement Period, or in the event the prior Agreement Period is longer or shorter than twelve
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Minimum Annual Concession Fee a. The Minimum Annual Concession Fee shall equal the sum of the Annual Rental Fee, initially, and No/100 Dollars ($ , .00), which is based on the fair market value of the Premises, plus the Minimum Annual Privilege Fee, initially, Hundred and No/100 Dollars ($ , .00), which fee is paid for the grant by the Aviation Authority of a franchise to engage in the business of operating the Concession within facilities operated and controlled by the Aviation Authority. For the period beginning on the Commencement Date and ending on the one year anniversary of the commencement date (the "Initial Period"), the Minimum Annual Concession Fee shall be One Hundred Thousand and No/100 Dollars ($100,000.00) provided, however, that if such Initial Period is longer or shorter than twelve (12) months, the Minimum Annual Concession Fee payable by Company to the Aviation Authority for such period shall be an amount determined by dividing the Minimum Annual Concession Fee by 365, and multiplying such quotient by the number of days in the Initial Period. b. Within ninety (90) calendar days of the end of the Initial Period, and each subsequent Agreement Period, effective October 1st thereof, the Minimum Annual Concession Fee shall be adjusted to equal the greater of: (1) an amount calculated by multiplying .85 times the total Concession Fees due for the prior Agreement Period, or (2) the Initial Period’s Minimum Annual Concession Fee. Any adjustment in the Minimum Annual Concession Fee associated with the provisions of Article 5.A.1.b. (1) shall result in an identical adjustment to the Minimum Annual Privilege Fee, and shall not affect the Annual Rental Fee, subject to the provision of Article 5.A.1.c., herein. Notwithstanding the foregoing, in the event Company is not open for business for the entire prior Agreement Period, or in the event the prior Agreement Period is longer or shorter than twelve
Sample 1
Minimum Annual Concession Fee. The following Minimum Annual Concession Fee will be paid by the successful Proposer to the Aviation Authority during the Initial Period of the Concession if the Proposal is accepted. The Minimum Annual Concession Fee is set at Four Million Two Hundred Fifty Thousand and No/100 Dollars ($4,250,000.00) and the Percentage of Gross Receipts to be remitted to the Aviation Authority is set at sixty-five percent (65%). See Article 5.A. of the Concession Agreement for the definition of the Minimum Annual Concession Fee, and a description of how the Minimum Annual Concession Fee will be adjusted during the Term of the Concession. Do not propose on the Minimum Annual Concession Fee nor the Percentage of Gross Receipts.
Sample 1
Minimum Annual Concession Fee. The undersigned proposes the following Minimum Annual Concession Fee, which would be paid by the Proposer to the Aviation Authority during the Initial Period of the Concession if this Proposal is accepted. See Article 5.A. of the Concession Agreement for the definition of the Minimum Annual Concession Fee, and a description of how the Minimum Annual Concession Fee will be adjusted during the Term of the Concession. Proposals containing a Minimum Annual Concession Fee of less than Three Hundred Sixty Five Thousand and No/100 Dollars ($365,000.00) will NOT be considered. Please note that the Initial Minimum Annual Concession Fee should be proposed on the basis of a full twelve (12) month period, even though the Initial Period may be longer or shorter than twelve (12) months.
Sample 1

Related to Minimum Annual Concession Fee

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Minimum Monthly Rent (Section 1.5): Tenant shall pay to Landlord Minimum Monthly Rent for the Premises during the Extended Term in accordance with the schedule and in the amount set forth below: 01/01/13-07/31/13 $ 1,776.25 per month $ 8,645.00 per month $ 10,421.25 per month 08/01/13-07/31/14 $ 1,827.00 per month $ 8,892.00 per month $ 10,719.00 per month 08/01/14-07/31/15 $ 1,877.75 per month $ 9,139.00 per month $ 11,016.75 per month

  • Minimum Amount No prepayment shall be required pursuant to Section 5.2(a)(i) (i) in the case of any Disposition yielding Net Cash Proceeds of less than $1,000,000 in the aggregate and (ii) unless and until the amount at any time of Net Cash Proceeds from Prepayment Events required to be applied at or prior to such time pursuant to such Section and not yet applied at or prior to such time to prepay Term Loans pursuant to such Section exceeds (x) $10,000,000 for a single Prepayment Event or (y) $50,000,000 in the aggregate for all Prepayment Events (other than those which are either under the threshold specified in subclause (i) or over the threshold specified in subclause (ii)(x)) in any one fiscal year, at which time all such Net Cash Proceeds referred to in this subclause (y) with respect to such fiscal year shall be applied as a prepayment in accordance with this Section 5.2.

  • Minimum Adjusted EBITDA Borrower shall maintain a minimum trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), as of such test date, of at least the greater of (a) $75,000,000 and (b) an amount equal to 75% of the trailing six-month Adjusted EBITDA minus dividend distributions (other than tax distributions), for the immediately preceding six-month period, tested semi-annually, commencing September 30, 2024, and continuing on each subsequent March 31 and September 30.

  • Minimum Payment (a) Overtime worked on a Saturday or Sunday will be paid for at the rate of double Ordinary Rates. Employees required to work on a Saturday or Sunday will be afforded a minimum 4 hours work, or be paid as if for 4 hours at the aforementioned overtime rates.

  • Minimum Age (a) Members must be at least 14 years of age. (b) If you are under the age of 18 years, prior to being accepted as a Member, you must: Membership Agreement); and

  • PRICE ESCALATION/DE-ESCALATION (CPI) The County may allow a price escalation provision within this award. The original contract prices shall be firm for an initial one (1) year period. A price escalation/de-escalation will be considered at one (1) year intervals thereafter, provided the Contractor notifies the County, in writing, of the pending price escalation/de-escalation a minimum of sixty (60) days prior to the effective date. Price adjustments shall be based on the latest version of the Consumers Price Index (CPI-U) for All Urban Consumers, All Items, U.S. City Average, non-seasonal, as published by the U.S. Department of Labor, Bureau of Labor Statistics. This information is available at xxx.xxx.xxx. Price adjustment shall be calculated by applying the simple percentage model to the CPI data. This method is defined as subtracting the base period index value (at the time of initial award) from the index value at time of calculation (latest version of the CPI published as of the date of request for price adjustment), divided by the base period index value to identify percentage of change, then multiplying the percentage of change by 100 to identify the percentage change. Formula is as follows: Current Index – Base Index / Base Index = % of Change CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% % of Change x 100 = Percentage Change CPI-U Calculation Example: A price increase may be requested only at each time interval specified above, using the methodology outlined in this section. To request a price increase, Contractor shall submit a letter stating the percentage amount of the requested increase and adjusted price to the Orange County Procurement Division. The letter shall include the complete calculation utilizing the formula above, and a copy of the CPI-U index table used in the calculation. The maximum allowable increase shall not exceed 4%, unless authorized by the Manager, Procurement Division. All price adjustments must be accepted by the Manager, Procurement Division and shall be memorialized by written amendment to this contract. No retroactive contract price adjustments will be allowed. Should the CPI-U for All Urban Consumers, All Items, U.S City Average, as published by the U.S. Department of Labor, Bureau of Labor Statistics decrease during the term of the contract, or any renewals, the Contractor shall notify the Orange County Procurement Division of price decreases in the method outlined above. If approved, the price adjustment shall become effective on the contract renewal date. If the Contractor fails to pass the decrease on to the County, the County reserves the right to place the Contractor in default, cancel the award, and remove the Contractor from the County Vendor List for a period of time deemed suitable by the County. In the event of this occurrence, the County further reserves the right to utilize any options as stated herein.

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