Common use of Operating Fees Clause in Contracts

Operating Fees. XXXXXXX OPERATING RESOURCES shall satisfy its obligation to pay Operating Fees to SPRAGUE HOLDINGS (i) by paying to SPRAGUE MASSACHUSETTS the sum of $15,200.00 per month (subject to adjustment as provided below) (the “Operating Fees”); (ii) by being responsible for ordinary maintenance and repairs to the Oil Terminal; and, (iii) by paying to XXXXXXX MASSACHUSETTS the amount of real estate taxes levied against the Oil Terminal. The Operating Fees specified in item (i) above shall be subject to adjustment as follows: Commencing on July 1, 2013, and thereafter on July 1 of each year during the Term of this Operating Agreement, the aforementioned sum shall be increased in accordance with the percentage increase of the Consumer Price Index, All Urban Consumers (CPI-U) Region I, Boston Index, for the previous year (July 1, 2012-June 30). Provided, however, to the extent such increase in any one year (as calculated as described in the immediately preceding sentence) exceeds 6%, XXXXXXX OPERATING RESOURCES shall have the right, but not the obligation, to request renegotiation of this Operating Agreement. In the event such renegotiation fails to result in the establishment of new terms acceptable to XXXXXXX OPERATING RESOURCES, XXXXXXX OPERATING RESOURCES may terminate this Operating Agreement upon the provision of twelve (12) months advance written notice to SPRAGUE HOLDINGS. It is understood that this Operating Agreement is in the nature of a net Operating Agreement and that such Operating Fees is to be net to SPRAGUE MASSACHUSETTS and, accordingly, XXXXXXX OPERATING RESOURCES shall bear all costs relating to the Oil Terminal whether or not specified expressly herein, including, without by way of limitation, Taxes. In the event XXXXXXX OPERATING RESOURCES holds over following the expiration or termination of this Operating Agreement, XXXXXXX OPERATING RESOURCES shall be a tenant at sufferance subject to all the terms of this Operating Agreement. XXXXXXX OPERATING RESOURCES shall also pay all public, special or betterment assessments levied or assessed by any municipality or other governmental authority associated with the Oil Terminal during the Term.

Operating Fees. XXXXXXX OPERATING RESOURCES shall satisfy its obligation to pay Operating Fees to SPRAGUE XXXXXXX HOLDINGS (i) by paying to SPRAGUE XXXXXXX MASSACHUSETTS the sum of $15,200.00 per month (subject to adjustment as provided below) (the “Operating Fees”); (ii) by being responsible for ordinary maintenance and repairs to the Oil Terminal; and, (iii) by paying to XXXXXXX MASSACHUSETTS the amount of real estate taxes levied against the Oil Terminal. The Operating Fees specified in item (i) above shall be subject to adjustment as follows: Commencing on July 1, 20132014, and thereafter on July 1 of each year during the Term of this Operating Agreement, the aforementioned sum shall be increased in accordance with the percentage increase of the Consumer Price Index, All Urban Consumers (CPI-U) Region I, Boston Index, for the previous year (July 1, 20122013-June 30). Provided, however, to the extent such increase in any one year (as calculated as described in the immediately preceding sentence) exceeds 6%, XXXXXXX OPERATING RESOURCES shall have the right, but not the obligation, to request renegotiation of this Operating Agreement. In the event such renegotiation fails to result in the establishment of new terms acceptable to XXXXXXX OPERATING RESOURCES, XXXXXXX OPERATING RESOURCES may terminate this Operating Agreement upon the provision of twelve (12) months advance written notice to SPRAGUE HOLDINGS. It is understood that this Operating Agreement is in the nature of a net Operating Agreement and that such Operating Fees is to be net to SPRAGUE XXXXXXX MASSACHUSETTS and, accordingly, XXXXXXX OPERATING RESOURCES shall bear all costs relating to the Oil Terminal whether or not specified expressly herein, including, without by way of limitation, Taxes. In the event XXXXXXX OPERATING RESOURCES holds over following the expiration or termination of this Operating Agreement, XXXXXXX OPERATING RESOURCES shall be a tenant at sufferance subject to all the terms of this Operating Agreement. XXXXXXX OPERATING RESOURCES shall also pay all public, special or betterment assessments levied or assessed by any municipality or other governmental authority associated with the Oil Terminal during the Term.

Operating Fees. XXXXXXX OPERATING RESOURCES shall satisfy its obligation to pay Operating Fees to SPRAGUE HOLDINGS (i) by paying to SPRAGUE MASSACHUSETTS the sum of $15,200.00 per month (subject to adjustment as provided below) (the “Operating Fees”); (ii) by being responsible for ordinary maintenance and repairs to the Oil Terminal; and, (iii) by paying to XXXXXXX MASSACHUSETTS the amount of real estate taxes levied against the Oil Terminal. The Operating Fees specified in item (i) above shall be subject to adjustment as follows: Commencing on July 1, 20132014, and thereafter on July 1 of each year during the Term of this Operating Agreement, the aforementioned sum shall be increased in accordance with the percentage increase of the Consumer Price Index, All Urban Consumers (CPI-U) Region I, Boston Index, for the previous year (July 1, 20122013-June 30). Provided, however, to the extent such increase in any one year (as calculated as described in the immediately preceding sentence) exceeds 6%, XXXXXXX OPERATING RESOURCES shall have the right, but not the obligation, to request renegotiation of this Operating Agreement. In the event such renegotiation fails to result in the establishment of new terms acceptable to XXXXXXX OPERATING RESOURCES, XXXXXXX OPERATING RESOURCES may terminate this Operating Agreement upon the provision of twelve (12) months advance written notice to SPRAGUE HOLDINGS. It is understood that this Operating Agreement is in the nature of a net Operating Agreement and that such Operating Fees is to be net to SPRAGUE MASSACHUSETTS and, accordingly, XXXXXXX OPERATING RESOURCES shall bear all costs relating to the Oil Terminal whether or not specified expressly herein, including, without by way of limitation, Taxes. In the event XXXXXXX OPERATING RESOURCES holds over following the expiration or termination of this Operating Agreement, XXXXXXX OPERATING RESOURCES shall be a tenant at sufferance subject to all the terms of this Operating Agreement. XXXXXXX OPERATING RESOURCES shall also pay all public, special or betterment assessments levied or assessed by any municipality or other governmental authority associated with the Oil Terminal during the Term.

Operating Fees. XXXXXXX OPERATING RESOURCES shall satisfy its obligation to pay Operating Fees to SPRAGUE HOLDINGS XXXXXXX MASSACHUSETTS (i) by paying to SPRAGUE XXXXXXX MASSACHUSETTS the sum of $15,200.00 per month (subject to adjustment as provided below) (the “Operating Fees”); (ii) by being responsible for ordinary maintenance and repairs to the Oil Terminal; and, (iii) by paying to XXXXXXX MASSACHUSETTS the amount of real estate taxes levied against the Oil Terminal. The Operating Fees specified in item (i) above shall be subject to adjustment as follows: Commencing on July 1, 2013, and thereafter on July 1 of each year during the Term of this Operating Agreement, the aforementioned sum shall be increased in accordance with the percentage increase of the Consumer Price Index, All Urban Consumers (CPI-U) Region I, Boston Index, for the previous year (July 1, 2012-June 30). Provided, however, to the extent such increase in any one year (as calculated as described in the immediately preceding sentence) exceeds 6%, XXXXXXX OPERATING RESOURCES shall have the right, but not the obligation, to request renegotiation of this Operating Agreement. In the event such renegotiation fails to result in the establishment of new terms acceptable to XXXXXXX OPERATING RESOURCES, XXXXXXX OPERATING RESOURCES may terminate this Operating Agreement upon the provision of twelve (12) months advance written notice to SPRAGUE HOLDINGSXXXXXXX MASSACHUSETTS. It is understood that this Operating Agreement is in the nature of a net Operating Agreement and that such Operating Fees is to be net to SPRAGUE XXXXXXX MASSACHUSETTS and, accordingly, XXXXXXX OPERATING RESOURCES shall bear all costs relating to the Oil Terminal whether or not specified expressly herein, including, without by way of limitation, Taxes. In the event XXXXXXX OPERATING RESOURCES holds over following the expiration or termination of this Operating Agreement, XXXXXXX OPERATING RESOURCES shall be a tenant at sufferance subject to all the terms of this Operating Agreement. XXXXXXX OPERATING RESOURCES shall also pay all public, special or betterment assessments levied or assessed by any municipality or other governmental authority associated with the Oil Terminal during the Term.

Operating Fees. XXXXXXX OPERATING RESOURCES shall satisfy its obligation to pay Operating Fees to SPRAGUE HOLDINGS XXXXXXX MASSACHUSETTS (i) by paying to SPRAGUE XXXXXXX MASSACHUSETTS the sum of $15,200.00 per month (subject to adjustment as provided below) (the “Operating Fees”); (ii) by being responsible for ordinary maintenance and repairs to the Oil Terminal; and, (iii) by paying to XXXXXXX MASSACHUSETTS the amount of real estate taxes levied against the Oil Terminal. The Operating Fees specified in item (i) above shall be subject to adjustment as follows: Commencing on July 1, 20132014, and thereafter on July 1 of each year during the Term of this Operating Agreement, the aforementioned sum shall be increased in accordance with the percentage increase of the Consumer Price Index, All Urban Consumers (CPI-U) Region I, Boston Index, for the previous year (July 1, 20122013-June 30). Provided, however, to the extent such increase in any one year (as calculated as described in the immediately preceding sentence) exceeds 6%, XXXXXXX OPERATING RESOURCES shall have the right, but not the obligation, to request renegotiation of this Operating Agreement. In the event such renegotiation fails to result in the establishment of new terms acceptable to XXXXXXX OPERATING RESOURCES, XXXXXXX OPERATING RESOURCES may terminate this Operating Agreement upon the provision of twelve (12) months advance written notice to SPRAGUE HOLDINGSXXXXXXX MASSACHUSETTS. It is understood that this Operating Agreement is in the nature of a net Operating Agreement and that such Operating Fees is to be net to SPRAGUE XXXXXXX MASSACHUSETTS and, accordingly, XXXXXXX OPERATING RESOURCES shall bear all costs relating to the Oil Terminal whether or not specified expressly herein, including, without by way of limitation, Taxes. In the event XXXXXXX OPERATING RESOURCES holds over following the expiration or termination of this Operating Agreement, XXXXXXX OPERATING RESOURCES shall be a tenant at sufferance subject to all the terms of this Operating Agreement. XXXXXXX OPERATING RESOURCES shall also pay all public, special or betterment assessments levied or assessed by any municipality or other governmental authority associated with the Oil Terminal during the Term.