Titans Contract Sample Clauses

Titans Contract. In the event that (i) the Closing occurs prior to the expiration of the 2000-2001 NFL season and (ii) Citadel suffers any Titans Contract Loss from the 2000-2001 NFL season, then Sellers shall pay to Citadel, within 10 Business Days after Citadel delivers to Sellers a written calculation (together with supporting information) of such Titans Contract Loss, an amount in cash equal to such Titans Contract Loss. As used in this Agreement "Titans Contract Loss" shall mean the excess of expenses incurred under or relating to the Titans Contract over income derived from or relating to the Titans Contract, whether directly or indirectly (through the Joint Venture). The Titans Contract Loss, if any, shall be calculated on an accrual basis in accordance with GAAP. In the event Sellers disagree with Citadel's calculation of the Titans Contract Loss suffered by Citadel from the 2000-2001 NFL season, Citadel and Sellers shall attempt in good faith to resolve such disagreement promptly. If such disagreement cannot be resolved by the parties within such 10-Business Day period, then such disagreement shall be submitted to the Arbitrator within 10 additional Business Days thereafter, pursuant to Section 3.4(d), and no payment shall be made by Sellers under this Section 3.4(c) until such time as the Arbitrator's final decision is rendered. The payment made by Sellers pursuant to this Section 3.4(c), if any, shall constitute an adjustment to the Purchase Price. If the Closing occurs prior to the end of the 2000-2001 NFL season, then from the Closing Date until the end of the 2000-2001 NFL Season Citadel shall (x) operate the Joint Venture in accordance with good business practices and consistent with the budget for the Joint Venture and the Titans Contract; and (y) subject to Section 10.8, provide reasonable access to Sellers and their representatives, on a monthly basis, to financial information relating to the Joint Venture's performance, including internal income statements, billing information and disbursement information.
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