No MII Disapproval Sample Clauses

No MII Disapproval. Process for Capital Improvements or Programs valued under One Million Dollars‌ The Signatory Airlines shall not have the right to review or approve any Capital Improvement project that has a total estimated project budget of less than ONE MILLION DOLLARS AND NO CENTS ($1,000,000.00). The Port shall implement these Capital Improvement projects in its sole discretion. It is understood and expressly agreed that the Port will not separate or break down any Capital Improvement project into distinct component parts for the sole purpose of avoiding a required vote by the Signatory Airlines. Should a project exempt from the MII disapproval process due to the budget threshold exceed the threshold at any time during construction due to a cost increase resulting from a cause within the Port's control, the MII disapproval process shall be utilized. If the project is disapproved, all costs in excess of the threshold shall be paid with sources that do not impact the Airline rate base. The Port shall present a semi-annual project report at regularly scheduled AAAC meetings on those Capital Improvement projects valued at under ONE MILLION DOLLARS AND NO CENTS ($1,000,000.00) commenced during the prior Fiscal Year.
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Related to No MII Disapproval

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