Stadium Maintenance Fund Sample Clauses

Stadium Maintenance Fund. In each year of the Term, Licensor shall provide in its budget for a “Stadium Maintenance Fund” in the amount of at least One Million Dollars ($1,000,000.00). The Stadium Maintenance Fund shall be used for Licensor’s Maintenance and Repairs required hereunder. Following the first year of the Term, Licensor shall increase the amount of the Stadium Maintenance Fund by increasing the preceding year’s budgeted amount by at least five percent (5%). Subject to Licensee’s obligations under Paragraph 5.8, which obligations Licensee must continue to discharge at its own cost, for each year of the Term Licensee may direct Licensor’s use of budgeted Maintenance and Repair funds up to One Hundred Fifty Thousand Dollars ($150,000.00) for Maintenance and Repairs requested by Licensee to be performed by Licensor (including that Licensee may “earmark” all or part of such funds for work to occur in future years; provided, however, that no more than $150,000.00 may be earmarked for any particular future year). To facilitate and enable Licensee to exercise its right to direct the use of certain funds each year, Licensor will provide quarterly reports to account for the uses of budgeted funds in the Stadium Maintenance Fund in the preceding quarter.
Sample 1
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Stadium Maintenance Fund. The Stadium Owner shall also establish and maintain a Stadium Maintenance Fund (“SMF”) for the maintenance needs of the Stadium. The primary purpose of the SMF shall be to ensure that the Stadium is maintained as a first-class Class A minor league facility and an asset to the Stadium Owner and the surrounding community for the Term of this Agreement. Maintenance expenditures shall include all break-fix, replacement and routine maintenance to the Stadium and equipment, and shall be funded therefrom. The Lessee shall contribute Forty Thousand ($40,000.00) Dollars to the SMF on the Beneficial Occupancy Date and shall add an additional amount of $40,000.00 to the SMF on each anniversary thereafter during only the Initial Term. Notwithstanding the foregoing, in the event mutually agreed upon maintenance expenditures exceed funds available in the SMF, the Stadium Owner shall remain responsible for the full cost of all such mutually agreed upon maintenance expenditures and may utilize therefor any funds existing in the SCIF referenced in subsection (l), and then only when the Stadium Owner has fully depleted all funds in both the SMF and the SCIF under these circumstances and for these purposes shall the Lessee and the Stadium Owner each be responsible for fifty (50%) percent of any remaining mutually agreed upon maintenance expenditures. To assist in controlling future stadium maintenance costs, the Parties shall, where appropriate, cooperate toward obtaining equipment and other warranties as determined by the Lessee, for purchases made within or from the Project Budget.
Sample 1

Related to Stadium Maintenance Fund

  • PIPELINE SERVICE FUND The Employer shall deduct from each employee covered by this Agreement twenty-five cents ($0.25) for each hour of work earned and remit it monthly to the Pipeline Service Fund.

  • Operating and Maintenance Expenses Subject to the provisions herein addressing the use of facilities by others, and except for operations and maintenance expenses associated with modifications made for providing interconnection or transmission service to a third party and such third party pays for such expenses, the Interconnection Customer shall be responsible for all reasonable expenses including overheads, associated with: (1) owning, operating, maintaining, repairing, and replacing the Interconnection Customer’s Interconnection Facilities; and (2) operation, maintenance, repair and replacement of the Participating TO’s Interconnection Facilities.

  • System Maintenance The Trust understands that USBFS will perform periodic maintenance to the System(s), which may cause temporary service interruptions. To the extent possible, USBFS shall notify the Trust of all planned outages and will perform any necessary maintenance during non-business hours.

  • Planned Maintenance (a) Sellers may designate up to twenty (20) Days of Planned Maintenance on Sellers’ Facilities during each Contract Year. Sellers shall be entitled to reduce (including down to zero (0)) its Gas scheduling under Clause 8 and Exhibit 3 for each Day of Planned Maintenance.

  • REPAIRS; MAINTENANCE The Owner hereby gives power to the Agent to supervise repairs, improvements, alterations, and decorations to the Property as well as purchase and pay bills for services and supplies. The Agent shall obtain prior approval of the Owner for all expenditures over $ for any single item. Prior approval for lesser amounts shall not be required for monthly or recurring operating charges or if emergency expenditures over the maximum are, in the Agent’s opinion, needed to protect the Property from damage, prevent injury to persons, avoid suspension of necessary services, avoid penalties or fines, or suspension of services to tenants required by a lease or rental agreement or by law, including, but not limited to, maintaining the Property in a condition fit for human habitation as required by applicable law.

  • Building Maintenance The host facility provider shall maintain (in a state of good repair) all buildings used for the educational program. All damages made by the AGENCY’s program will be the responsibility of the AGENCY to repair.

  • Routine Maintenance (i) CRC shall be responsible for Routine Maintenance when necessary or desirable to maintain the Shared Assets in a safe operating condition, and to permit and facilitate (A) the performance by CRC of its obligations pursuant to this Agreement, and (B) the use of Shared Assets by the Operators in accordance with this Agreement.

  • UNIVERSAL SERVICE FUND 54.1 In order to collect the costs of CenturyLink’s contribution to the Federal Universal Service Fund (FUSF) in an equitable manner, CenturyLink’s End Users are charged a Federal Universal Service Charge (FUSC). The only customers who are exempt from paying the FUSC to CenturyLink are those reseller CLECs who themselves contribute to the FUSF, or who otherwise qualify for an exemption under the FCC’s universal service rules. In order to obtain an exemption from paying the FUSC to CenturyLink, CLEC must provide CenturyLink a signed statement certifying that it is reselling the services provided by CenturyLink in the form of telecommunications, and will, in fact, contribute directly to the FUSF. If CLEC does not provide this statement, or otherwise certify that it is exempt from remitting the FUSC, CenturyLink must report the revenues obtained from the provision of service to CLEC as End User revenues for purposes of calculating and reporting FUSC contributions, and CenturyLink shall be entitled to recover from CLEC the resulting FUSF contributions attributable to such revenues, in accordance with Applicable Law.

  • MAINTENANCE OF THE SAID BUILDING / APARTMENT / PROJECT The Promoter shall be responsible to provide and maintain essential services in the Project till the taking over of the maintenance of the project by the association of the allottees. The cost of such maintenance has been included in the Total Price of the [Apartment/Plot]. [Insert any other clauses in relation to maintenance of project, infrastructure and equipment]

  • Equipment Maintenance If this Contract involves computer or telecommunications hardware or other mechanical or electrical Equipment (use of the word "Equipment" means all the foregoing) as a Deliverable, then, during the warranty period and during any period covered by annual maintenance, the Contractor will provide Equipment maintenance to keep the Equipment in or restore the Equipment to good working order. This maintenance will include preventative and remedial maintenance, installation of safety changes, and installation of engineering changes based upon the specific needs of the individual item of Equipment. This maintenance will also include the repair, replacement, or exchange deemed necessary to keep the Equipment in good working order. For purposes of this Contract, Equipment restored to good working condition means Equipment that performs in accordance with the manufacturer's published specifications. The Contractor will exert its best efforts to perform all fault isolation and problem determination attributed to the Equipment covered under this Contract. The following services are outside the scope of this Contract:

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