Understanding Regarding Licensee Revenue Sample Clauses

Understanding Regarding Licensee Revenue. As set forth in that certain letter dated May 7, 2012, the Port and Tenant recognize that Tenant regularly grants licenses/permits for third parties to operate from the Terminal 91 Cruise Facility where the services provided by those vendors are primarily provided as a customer convenience and not to fulfill any of Tenant’s basic obligations under this Amended and Restated Agreement. As a result, the Port and Tenant expressly agree that any revenues generated by such vendors, as set forth annually on a list submitted by Tenant and approved by the Port shall, notwithstanding Sections 1.18 and 1.18.3 of this Amended and Restated Agreement, not be included within Tenant’s Gross Revenues. Instead, only the license/permit fee paid by such vendors shall be included within Gross Revenues as provided by Section 1.18.2 of this Amended and Restated Agreement.
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Understanding Regarding Licensee Revenue. As set forth in that certain letter dated May 7, 2012, the Port and Tenant recognize that Tenant regularly grants licenses/permits for third parties to operate from the Pier 66 Cruise Facility and/or Terminal 91 Cruise Facility where the services provided by those vendors are primarily provided as a customer convenience and not to fulfill any of Tenant’s basic obligations under the Agreement. As a result, the Port and Tenant expressly agree that any revenues generated by such vendors, as set forth annually on a list submitted by Tenant and approved by the Port shall, notwithstanding Sections 1.20 and 1.20.3 of the Agreement, not be included within Tenant’s Gross Revenues. Instead, only the license/permit fee paid by such vendors shall be included within Gross Revenues as provided by Section 1.20.2 of the Agreement.

Related to Understanding Regarding Licensee Revenue

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