Common use of Rental Car Concessionaire Incentive Program Clause in Contracts

Rental Car Concessionaire Incentive Program. RACs will be encouraged to meet specific targets for Qualified Green Vehicle rentals (transactions). Vehicles meeting an EPA Green Vehicle Guide score of 17 or higher will be considered Qualified Green Vehicles. The incentive targets will be reviewed and/or revised at the end of Lease Year 2, and possibly changed or abolished for the remainder of the term. 2009 15% 2010 15% To qualify for the incentive credit, RACs will be required to track and report their rentals of Qualified Green Vehicles at AIRPORT on a monthly basis. At the close of each lease year, if a RAC operator has met the annual qualifying target, the City will calculate the credit owed to concessionaire by calculating the amount of the difference between the 10% concession fee paid by concessionaire for each of the Qualified Green Vehicle transactions, and an imputed 8% concession fee for these same rentals. An equivalent amount to this differential will be credited to concessionaire’s rent due and owing to the City for the succeeding year.

Rental Car Concessionaire Incentive Program. RACs “”will be encouraged to meet specific targets for Qualified Green Vehicle rentals (transactions). Vehicles meeting an EPA Green Vehicle Guide score of 17 or higher will be considered Qualified Green Vehicles. The incentive targets will be reviewed and/or revised at the end of Lease Year 2, and possibly changed or abolished for the remainder of the term. 2009 15% 2010 15% To qualify for the incentive credit, RACs will be required to track and report their rentals of Qualified Green Vehicles at AIRPORT on a monthly basis. At the close of each lease year, if a RAC operator has met the annual qualifying target, the City will calculate the credit owed to concessionaire by calculating the amount of the difference between the 10% concession fee paid by concessionaire for each of the Qualified Green Vehicle transactions, and an imputed 8% concession fee for these same rentals. An equivalent amount to this differential will be credited to concessionaire’s rent due and owing to the City for the succeeding year.