Common use of Plan Revenue Clause in Contracts

Plan Revenue. It is anticipated that some of Contractor’s services (including capital improvement projects) may generate substantial Plan Revenue. Subject to the prior written approval of the City and/or City Council and the provisions stated herein as set forth in Section 16.9, Contractor may retain and use Plan Revenue for the following purposes: a) to repay any debt incurred and/or secured by the specific project that generates the revenue; b) to pay for operational costs of the project; c) to pay for maintenance costs of the project; and/or d) to pay for any of the foregoing purposes for other services (including capital improvement projects) that are included in Contractor’s Scope of Services and Plan Budget. Contractor shall account for Plan Revenue separately. Documentation of all transactions using Plan Revenue shall be included in the monthly reports and the annual audit.

Plan Revenue. It is anticipated that some of Contractor’s services (including capital improvement projects) may generate substantial Plan Revenue. Subject to the prior written approval of the City and/or City Council and the provisions stated herein as set forth in Section 16.9, Contractor may retain and use Plan Revenue for the following purposes: a) a. to repay any debt incurred and/or secured by the specific project that generates the revenue; b) b. to pay for operational costs of the project; c) c. to pay for maintenance costs of the project; and/or d) d. to pay for any of the foregoing purposes for other services (including capital improvement projects) that are included in Contractor’s Scope of Services and Plan Budget. Contractor shall account for Plan Revenue separately. Documentation of all transactions using Plan Revenue shall be included in the monthly reports and the annual audit.