Transaction by Original Concessionaire Sample Clauses

Transaction by Original Concessionaire. In the case of a transfer by Concessionaire (but not a successor or assignee of Concessionaire) constituting a Change of Ownership, "Net Transfer Proceeds" shall mean the total cash and other consideration received (but in the case of a transfer to a party affiliated with or otherwise related to the transferor, such consideration shall in no event be deemed to be less than the fair value of the interests transferred), less the following costs with respect to Concessionaire (but not its successors or assignees):

Transaction by Original Concessionaire. In the case of a

Transaction by Original Concessionaire. In the case of a transfer by Concessionaire (but not a successor or assignee of Concessionaire) constituting a Change of Ownership, “Net Transfer Proceeds” shall mean the total cash and other consideration received (but in the case of transfer to a party affiliated with or otherwise related to the transferor, such consideration shall in no event be deemed to be less that than the fair value of the interests transferred), less the following costs with respect to Concessionaire (but not its successors or assignees): 4.9.1.1. The lesser of (i) book value or (ii) fair market value of certain equipment installed and owned by Concessionaire and existing on the Premises as of the commencement of the Term, together with the final construction costs incurred by Concessionaire in connection with the construction of the Improvements as set forth in the Approved Final Plans, Specifications and Costs, which costs shall be submitted to County within thirty (30) days after the completion of the improvements described therein and which costs shall be approved in writing by County, together with any subsequent expenditure incurred, whether or not paid, by Concessionaire (but not a sublessee or other party), for physical addition to or improvement or renovation of the Premises (collectively, “Improvement Costs”), provided that: (a) with respect to the book value or fair market value of such equipment installed and owned by Concessionaire on the Premises, such costs, which the parties agree shall in no event exceed and 00/100 dollars ($ ), shall have been submitted to County within ninety (90) days after the commencement of the Term and are thereafter approved by Director in writing within sixty (60) days after submission, (b) with respect to the construction of improvements costing in excess of twenty five thousand dollars ($25,000), such costs have been submitted to County within thirty (30) days after the completion of such addition, improvement or renovation and approved by County in writing, and (c) with respect to the construction of improvements costing less than twenty five thousand dollars ($25,000), such costs may be submitted in accordance with (b) above, or submitted to County as part of Concessionaire’s Calculation Notice and thereafter documented to County’s reasonable satisfaction, provided, however, that, if Concessionaire elects to submit such costs in its Calculation Notice, such costs, taken cumulatively, shall not exceed twenty five thousand dollars ($25,...