Revenue Sharing. For Fiscal Year 2013 and each subsequent Fiscal Year during the Term, the Port will share revenue with all Signatory Airlines as follows. When making adjustments-to-actual under Section 8.18 the Port will calculate the “Revenue Available for Sharing” by multiplying the amount, if any, by which the Airport’s Net Revenue exceeds 125% of its annual debt service by fifty percent (50%). The Revenue Available for Sharing, if any, shall be distributed among all Air Carriers that were Signatory Airlines during the preceding Fiscal Year. Each such Signatory Airline’s share of the Revenue Available for Sharing for that year shall be calculated by dividing such Signatory Airline’s actual payments to the Port of rates and charges under this Agreement for the preceding Fiscal Year by the total amount of such payments by all Signatory Airline’s for that same year. Revenue sharing shall be distributed among all the Signatory Airlines in the form of a credit against amounts due to the Port.
Appears in 5 contracts
Samples: Signatory Lease and Operating Agreement, Signatory Lease and Operating Agreement, Signatory Lease and Operating Agreement
