Passenger Facility Charges. 9.2.1 The Port expressly reserves the right to impose passenger facility charges (“PFCs”) in accordance with 49 U.S.C. § 40117 and applicable implementing regulations adopted by the FAA, 14 CFR Pt. 158, as they may be amended from time to time (the “PFC Regulations”).
9.2.2 Airline shall hold in trust for the Port the net principal amount of all PFCs that are collected by Airline or its agents on behalf of the Port pursuant to 49 U.S.C. § 40117 and the PFC Regulations. For purposes of this Section 9.2, net principal amount shall mean the total principal amount of all PFCs that are collected by Airline or its agents on behalf of the Port, reduced by any amount that Airline is permitted to retain pursuant to § 158.53(a) of the PFC Regulations. PFCs collected by the Airline shall be remitted to the Port at its Payment Address or at such other place as the Director may from time to time designate in writing.
Passenger Facility Charges. MAC expressly reserves the right to assess and collect PFCs in accordance with the PFC Regulations. The following shall apply to the collection of PFCs:
1. AIRLINE shall hold the net principal amount of all PFCs that are collected by AIRLINE or its agents on behalf of MAC in trust for MAC as and to the extent required by the PFC Regulations. For purposes of this Section, net principal amount shall mean the total principal amount of all PFCs that are collected by AIRLINE or its agents on behalf of MAC, reduced by all amounts that AIRLINE is permitted to retain pursuant to the PFC Regulations.
2. In the absence of additional regulations governing the treatment of refunds, any refunds of PFCs due to passengers as a result of changes of itinerary shall be paid proportionately out of the net principal amount attributable to such PFCs and the amount that AIRLINE was permitted to retain under the PFC Regulations attributable to such PFCs. AIRLINE hereby acknowledges that the net principal amount of all PFCs collected on behalf of MAC shall remain at all times the property of MAC, except to the extent of amounts refunded to passengers pursuant to the preceding sentence (which shall remain the property of MAC until refunded and become the property of the passenger upon and after refund) or are otherwise not considered property of the airport operator under the PFC Regulations. Other than the amounts that AIRLINE is entitled to retain pursuant to the PFC Regulations, AIRLINE shall be entitled to no compensation.
3. In the event AIRLINE fails to remit PFC revenues to MAC within the time limits required by the PFC Regulations, such event shall be an event of default subject to Article XIV of this Agreement.
Passenger Facility Charges. Delta shall be responsible for the collection and remittance in accordance with the applicable Delta Lease of all passenger facility charges, if any, with respect to flights operated by Operators in accordance with this Agreement.
Passenger Facility Charges. For purposes of this Section 6.2, in the event of a conflict between the terms of this Section and the provisions of 49 U.S.C. § 40117 or the PFC Regulations (as defined below), the provisions of the statute and PFC Regulations shall govern.
(a) [AIRLINE] shall hold the net principal amount of all PFCs that are collected by [AIRLINE] or its Delegates on behalf of the Lessee pursuant to, and in accordance with, 49 U.S.C. § 40117 and the rules and regulations thereunder (14 C.F.R. Part 158, herein, the “PFC Regulations”), both as may be amended from time to time, in trust for the Lessee. For purposes of this Section 6.2, “net principal amount” shall mean the total principal amount of all PFCs that are collected by [AIRLINE] or its Delegates on behalf of the Lessee, reduced by all amounts that [AIRLINE] is permitted to retain pursuant to Section 158.53(a) of the PFC Regulations. [AIRLINE] shall pay all PFC amounts due to the Lessee promptly.
(b) In the absence of additional regulations governing the treatment of refunds, any refunds of PFCs due to passengers as a result of changes of itinerary shall be paid proportionately out of the net principal amount attributable to such PFCs and the amount that the Airlines were permitted to retain under Section 158.53(a) of the PFC Regulations attributable to such PFCs. [AIRLINE] hereby acknowledges its obligations under Section 158.49 of the PFC Regulations. Other than the amounts that [AIRLINE] is entitled to retain pursuant to Section 158.53 of the PFC Regulations, [AIRLINE] shall be entitled to no compensation.
(c) Schedule K sets forth all PFC commitments as of the Closing. Any PFCs that are not shown on Schedule K shall be used, in order of priority, for (i) the Initial Capital Projects, (ii) Government-Mandated Capital Projects, (iii) Airline Projects, (iv) Capital Projects for the Airfield and Terminal Areas in accordance with Section 6.3(c) and (v) other PFC-eligible projects. PFCs collected at the Airport shall not be used to finance projects at any other airport.
(d) The Lessee shall comply with all PFC Regulations. In the event that any PFC funding is cancelled by reason of Xxxxxx’s failure to comply with such regulations including assurances or agreements in connection therewith (as determined by a final arbitral judgment pursuant to Article 11 if such failure is contested), the Lessee shall be solely responsible to substitute such funding with its own funding with no recourse to the Airlines.
(e) [AIRLINE]...
Passenger Facility Charges. Airline acknowledges that City has the right to assess Airline passengers a PFC for the use of the Airport in accordance with 49 U.S.C. Section 40117 and the rules and regulations provided thereunder (14 C.F.R. Part 158, herein the PFC Regulations) and as otherwise hereinafter authorized or permitted. Airline shall collect on behalf of and remit to City on a timely basis any such charges in accordance with the requirements of the PFC Regulations, including but not limited to holding any charges collected by Airline, pending remittance to City, in trust for the benefit of City. Airline shall remit PFC to City, and must include an itemized statement with its payment supporting the calculation of the PFC remittance. City shall have the right to use all such PFC collected in any lawful manner. Airline and City shall comply with and shall observe all of the provisions of the PFC Regulations as they apply to each party.
Passenger Facility Charges. In the event that passenger facility charges, now precluded by 49 U.S.C. 1513(a), are by legislative enactment, regulatory action, or by an adjudication by a court of competent jurisdiction determined to be lawful for the Authority to assess and collect during the Period of this Agreement, the Authority hereby reserves the right to assess, collect and expend such charges, subject to any conditions and restrictions expressly provided by such legislation or regulation.
Passenger Facility Charges. The Port imposes PFCs in accordance with 49 USC 40117 and applicable implementing regulations adopted by the FAA, 14 CFR 158, as they may be amended from time to time. The Airline acknowledges that the PFCs are Port revenue and that the Airline has no property interest in these funds, with the exception of the amounts Airline may withhold constituting "Collection Compensation" as that term is defined under 14 CFR 158.53.
Passenger Facility Charges. The Authority expressly reserves the right to impose PFCs.
8.13.1 The Airline shall hold in trust for the Authority the net principal amount of all PFCs that are collected by the Airline or its agents on behalf of the Authority pursuant to 49 U.S.C. § 40117 and the PFC Regulations. For purposes of this Section 8.13.1, net principal amount shall mean the total principal amount of all PFCs that are collected by the Airline or its agents on behalf of the Authority, reduced by any amount that the Airline is permitted to retain pursuant to Section 158.53(a) of the PFC Regulations. PFCs collected by the Airline shall be remitted to the Authority at the address in Paragraph 8.09.8 or at such other place as the Authority may from time to time designate in writing.
Passenger Facility Charges. (a) Aerostar expressly reserves the right to impose Passenger Facility Charges (“PFCs”) on airline passengers for the use of the Airport in accordance with 49 U.S.C. § 40117 and applicable implementing regulations adopted by the FAA, 14 CFR Part 158, as they may be amended from time to time (the “PFC Regulations”).
(b) [AIRLINE] shall hold in trust for Aerostar the net principal amount of all PFCs that are collected by [AIRLINE] or its agents on behalf of Aerostar. For the purposes of this Section 3.9, net principal amount shall mean the total principal amount of all PFCs that are collected by [AIRLINE] or its agents on behalf of Aerostar, reduced by any amount that [AIRLINE] is permitted to retain pursuant to 49 U.S.C. § 40117 and Section 158.53(a) of the PFC Regulations. PFCs collected by [AIRLINE] shall be remitted to Aerostar.
(c) If [AIRLINE] fails to remit the net principal amount of all PFCs to Aerostar within the time limits established by the PFC Regulations, [AIRLINE] shall be deemed to be in default pursuant to Section 10.1 hereof. In addition, any late payment of PFCs shall be subject to late fees computed at the rate of the lower of one and one-half percent (1.5%) per month or the highest rate allowable under applicable law from the due date until paid.
(d) Nothing contained herein shall be construed to supersede the rights and obligations provided in 14 CFR Part 158 regarding Passenger Facility Charges. In the event that a conflict exists between such federal regulation and this Agreement, the federal regulation shall govern.
Passenger Facility Charges. 20.03.1 City reserves the right to assess and collect PFCs subject to the terms and conditions set forth in the PFC Act, 49 U.S.C. § 40117, and the PFC Regulations, 14 CFR Part 158, as they may be supplemented or amended from time to time. Airline shall collect and pay all PFCs for which it is responsible under the provisions of 14 CFR Part 158. Failure by Airline to remit PFCs within the time frame required by 14 CFR Part 158 shall be grounds for immediate cancellation of this Agreement pursuant to Section 15.03.
20.03.2 Notwithstanding anything to the contrary in this Agreement, no provision of this Agreement shall impair the authority of City to impose a Passenger Facility Charge or to use the Passenger Facility Charge revenue as provided in 49 U.S.C. § 40117.
20.03.3 Airline acknowledges that City has given to the United States of America, acting by and through the FAA, certain assurances set forth in the PFC Act and implementing regulations at 14 C.F.R. Part 158 (“PFC Assurances”), and Xxxxxxx agrees that this Agreement shall be subordinate and subject to the PFC Assurances.
20.03.4 In the event that the FAA requires any modifications or changes in this Agreement as a condition precedent to the collection of PFCs or otherwise complying with the PFC Act, Airline shall not withhold its consent to such amendments, modifications, revisions, supplements or deletions of any of the terms, conditions or requirements of this Agreement as may reasonably be required to collect PFCs or comply with the PFC Act.
