Notice of Increased Approved Project Costs. If by the time the Port elects to proceed with construction of an Approved Project, the Port’s then-current estimate (calculated on a consistent basis) of the Approved Project’s capital costs that will be added to the Airline Rate Bases exceeds in constant dollars one hundred and ten percent (110%) of the Approved Project’s capital costs to be added to the Airline Rate Bases estimated at the time of Airline approval, and the increase did not result from an event set forth in subsection 6.5.1 below, the Port shall provide written notice to all Signatory Airlines, including Airline, of the increase in the Approved Project’s estimated rate base impact, shall provide a written explanation or justification for the increase and shall give the Majority-in-Interest, including Airline, an opportunity to review the Approved Project increase in accordance with subsection 6.1.2 below.
Appears in 6 contracts
Samples: Signatory Lease and Operating Agreement, Signatory Lease and Operating Agreement, Signatory Lease and Operating Agreement
