Minimum Annual Guarantee Abatement. In the event that the total number of scheduled deplaning airline passengers at the Airport for any month during the Term of this Agreement declines to a level lower than seventy-five percent (75%) of the number of deplaning passengers for the corresponding month of the previous Agreement Year, Licensee’s MAG shall be abated by a percentage equal to the percentage decrease in such deplaning passengers, for each month during which deplaning passengers remain at a level less than seventy-five percent (75%) of the deplaning passengers for the corresponding month of the previous Agreement Year. Licensee shall continue to pay the License Fee for each month for which the MAG is abated. When monthly deplaning passengers rise to a level at or above seventy-five percent (75%) of passenger deplanements for the corresponding month of the previous Agreement Year, Licensee’s full MAG shall be reinstated. Any MAG abatements under this Section shall be accounted for as part of the Agreement Year Adjustment under Section 5.8.3.
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Samples: License and Use Agreement, License and Use Agreement, License and Use Agreement
