Continental Special Facilities definition
Examples of Continental Special Facilities in a sentence
City shall not be entitled to repurchase from Airline such exclusive rights with respect to any portion of the GARB Improvements or the Continental Special Facilities without at the same time also repurchasing from Airline such exclusive use rights with respect to the remainder of the Continental Special Facilities and the GARB Improvements.
In the event of such termination, City shall reimburse Airline for all of the costs (including all out-of-pocket expenses and direct dedicated labor costs) incurred by Airline in connection with the GARB Improvements and the Continental Special Facilities.
In the event of such termination, Airline shall be reimbursed by City for the costs to Airline (including all out-of-pocket expenses and direct dedicated labor costs) of all improvements constituting a portion of the GARB Improvements, but Airline shall not be entitled to reimbursement for the costs to Airline of those improvements constituting a portion of the Continental Special Facilities.
Upon such termination, City also shall grant Airline exclusive use rights with respect to the Continental Special Facilities for the useful economic life (as determined in accordance with applicable tax law) of those Continental Special Facilities.
Airline's share shall be determined by multiplying the amount of such larger area tax billing by a fraction the numerator of which is the Basic Rent realized from the Continental Special Facilities, and the denominator of which is the income realized from all property comprising the tax billing, such determination to be made by City after consultation with the parties involved in such billing.
The Agreement, as supplemented by this Supplemental Agreement, constitutes the entire agreement between the parties hereto with respect to the Continental Special Facilities and supersedes all other representations or statements heretofore made, oral or written, except as otherwise herein provided.
City shall not be entitled to repurchase from Airline such exclusive use rights with respect to any portion of the Continental Special Facilities without at the same time also repurchasing from Airline such exclusive use rights with respect to the remainder of the Continental Special Facilities (other than the Hydrant Fueling System Special Premises).
Airline hereby makes an irrevocable election, binding on itself and all successors in interest, not to claim any depreciation or investment credit (within the meaning of Section 142(b)(1)(B) of the Code) with respect to the Continental Special Facilities.
Airline agrees that it will, with reasonable diligence, prudently operate the Continental Special Facilities, improve them and keep them in good repair, employing at all times adequate and qualified personnel for the purpose of doing so.
The determination of 80 percent of the weighted average reasonably expected economic life of the Continental Special Facilities and Related Facilities will be made by City based on the certification by Airline to City prior to issuance of the Bonds, and in any event on or prior to December 31, 1997, of the reasonably expected economic life of each of the facilities comprising the Continental Special Facilities and Related Facilities and the date such facilities are expected to be placed in service.