Common use of Waiver of Minimum Annual Guarantee Clause in Contracts

Waiver of Minimum Annual Guarantee. During the Contract Term, the Contractor may request that the Airports Authority waive the MAG, if: (1) for any reason, the total number of General Aviation flights at the Airport during any contract year is less than seventy-five percent (75%) of the total number of such General Aviation flights (in accordance with such traffic records as are maintained by the Airports Authority) in the preceding contract year, or (2) in the reasonable opinion of the Airports Authority, the Contractor satisfactorily demonstrates that, through no fault of its own, the operation of the Contractor’s FBO operation at the Airport has been affected by shortages or other disruption in the supply of aviation fuel, or other goods necessary thereto, and said shortages or other disruption have resulted in the material diminution in the Contractor’s Gross Receipts herein for a period of at least sixty (60) Days, and said shortage or other disruption has not been caused by labor dispute with the Contractor, such diminution to be satisfactorily demonstrated by the Contractor to the Airports Authority, then, the MAG in Section 5.01 A. herein may be waived by the Airports Authority for the period of time such condition continues to exist. During said period of time, the Contractor shall continue to pay to the Airports Authority the monthly Percentage Gross Receipts Fees, Airport Reimbursable and other fees due under the Contract. The Airports Authority reserves the sole right to determine if and when the applicable MAG requirement shall be waived and reinstated.

Waiver of Minimum Annual Guarantee. During the Contract Term, the Contractor may request that the Airports Authority waive the MAG, ifOperating Period: (1i) if for any reason, the total number of General Aviation passengers deplaning on scheduled airline flights at the Airport during any contract year is calendar month shall be less than seventy-five percent (75%) of the total number of such General Aviation flights (in accordance with such traffic records as are maintained by the Airports Authority) in the same calendar month period of the preceding contract calendar year, or (2ii) in the reasonable and sole opinion of the Airports Authority's Manager, Airport Administration Department, Xxxxxx Xxxxxx Washington National Airport, the Contractor satisfactorily demonstrates to the Authority that, through no fault of its own, the operation of the Contractor’s FBO operation 's rental car business at the Airport has been affected by shortages or other disruption in the supply of aviation fuelautomobiles, gasoline, or other goods necessary thereto, and said shortages or other disruption have resulted in the material diminution in the Contractor’s 's Gross Receipts herein for a period of at least sixty thirty (6030) Daysdays, and said shortage or other disruption has not been caused by labor dispute with the Contractor, such diminution to be satisfactorily demonstrated by the Contractor to the Airports Authority, ; then, in either event, the MAG minimum annual guarantee in Section 5.01 A. 5.01(a)(1) herein may shall be waived by the Airports Authority for the period of time such condition continues to exist. During said period of time, the Contractor shall continue to pay to the Airports Authority the monthly Percentage Gross Receipts Fees, Airport Reimbursable and other fees percentage concession fee due under the Contract, as defined in Section 5.01 herein and the facilities fees and utility payments all as defined in Section 5.01(e) herein and other fees as specified in this Contract. The Airports Authority will return to the Contractor the pro-rata portion of any minimum annual guarantee, which may have been prepaid. The Authority reserves the sole right to determine if and when the applicable MAG minimum annual guarantee requirement shall be waived and reinstated.

Waiver of Minimum Annual Guarantee. During the Contract Term, the Contractor may request that the Airports Authority waive the MAG, Operating Period if: (1i) for any reason, the total number of General Aviation general aviation flights at the Airport during any contract year is calendar month shall be less than seventy-five percent (75%) of the total number of such General Aviation general aviation flights (in accordance with such traffic records as are maintained by the Airports Authority) in the same calendar month period of the preceding contract calendar year, or (2ii) in the reasonable opinion of the Airports Authority's Airport Manager, the Contractor satisfactorily demonstrates that, through no fault of its own, the operation of the Contractor’s 's FBO operation business at the Airport has been affected by shortages or other disruption in the supply of aviation fuel, or other goods necessary thereto, and said shortages or other disruption have resulted in the material diminution in the Contractor’s Gross Receipts 's Concession Fees herein for a period of at least sixty thirty (6030) Daysdays, and said shortage or other disruption has not been caused by labor dispute with the Contractor, such diminution to be satisfactorily demonstrated by the Contractor to the Airports Authority, then, the MAG Minimum Annual Guarantee in Section 5.01 A. 5.01(a)(1) herein may shall be waived by the Airports Authority for the period of time such condition continues to exist. During said period of time, the Contractor shall continue to pay to the Airports Authority the monthly Percentage Gross Receipts Concession Fees, reimbursable Airport Reimbursable fees and other utility fees due under the Contract, in accordance with Sections 5.01(a) (2), (3), (4), and (5) herein. The Airports Authority reserves the sole right to determine if and when the applicable MAG Minimum Annual Guarantee requirement shall be waived and reinstated.

Waiver of Minimum Annual Guarantee. During the Contract Term, the Contractor may request that the Airports Authority waive the MAGMinimum Annual Guarantee, if: (1) for any reason, the total number of General Aviation general aviation flights at the Airport during any contract year is less than seventy-five percent (75%) of the total number of such General Aviation general aviation flights (in accordance with such traffic records as are maintained by the Airports Authority) in the preceding contract year, or (2) in the reasonable opinion of the Airports Authority, the Contractor satisfactorily demonstrates that, through no fault of its own, the operation of the Contractor’s 's FBO operation business at the Airport has been affected by shortages or other disruption in the supply of aviation fuel, or other goods necessary thereto, and said shortages or other disruption have resulted in the material diminution in the Contractor’s 's Gross Receipts herein for a period of at least sixty (60) Daysdays, and said shortage or other disruption has not been caused by labor dispute with the Contractor, such diminution to be satisfactorily demonstrated by the Contractor to the Airports Authority, then, the MAG Minimum Annual Guarantee in Section 5.01 A. A.1. herein may be waived by the Airports Authority for the period of time such condition continues to exist. During said period of time, the Contractor shall continue to pay to the Airports Authority the monthly Percentage Gross Receipts Feespercentage concession fees, Airport Reimbursable and other fees due under the Contract, as defined in Section 5.01 A.2., A.3., and A.4. herein. The Airports Authority reserves the sole right to determine if and when the applicable MAG Minimum Annual Guarantee requirement shall be waived and reinstated.

Waiver of Minimum Annual Guarantee. During the Contract Term, the Contractor may request that the Airports Authority waive the MAG, ifOperating Period: (1i) if for any reason, the total number of General Aviation passengers deplaning on scheduled airline flights at the Airport during any contract year is calendar month shall be less than seventy-five percent (75%) of the total number of such General Aviation flights deplaning passengers (in accordance with such traffic records as are maintained by the Airports Authority) in the same calendar month period of the preceding contract calendar year, or (2ii) in the reasonable and sole opinion of the Airports Authority's Manager, Airport Administration Department, Xxxxxx Xxxxxx Washington National Airport, the Contractor satisfactorily demonstrates to the Authority that, through no fault of its own, the operation of the Contractor’s FBO operation 's rental car business at the Airport has been affected by shortages or other disruption in the supply of aviation fuelautomobiles, gasoline, or other goods necessary thereto, and said shortages or other disruption have resulted in the material diminution in the Contractor’s 's Gross Receipts herein for a period of at least sixty thirty (6030) Daysdays, and said shortage or other disruption has not been caused by labor dispute with the Contractor, such diminution to be satisfactorily demonstrated by the Contractor to the Airports Authority, ; then, in either event, the MAG minimum annual guarantee in Section 5.01 A. 5.01(a)(1) herein may shall be waived by the Airports Authority for the period of time such condition continues to exist. During said period of time, the Contractor shall continue to pay to the Airports Authority the monthly Percentage Gross Receipts Fees, Airport Reimbursable and other fees percentage concession fee due under the Contract, as defined in Section 5.01 herein and the facilities fees and utility payments all as defined in Section 5.01(e) herein and other fees as specified in this Contract. The Airports Authority will return to the Contractor the pro-rata portion of any minimum annual guarantee, which may have been prepaid. The Authority reserves the sole right to determine if and when the applicable MAG minimum annual guarantee requirement shall be waived and reinstated.