Examples of Operating Period in a sentence
Payment of the Economic Development Subsidy shall continue for the duration of the Operating Period, or earlier termination of this Agreement.
The City’s obligation to provide the Operator with the Economic Development Subsidy payment pursuant to Section 3.1 of this Agreement, is conditioned upon the Resort generating TOT and the Operator remitting the appropriate amount of TOT owed to the City for each month during the Operating Period, or earlier termination of this Agreement.
The Operator agrees that upon the expiration of the Operating Period, or earlier termination of this Agreement, all TOT revenue sharing between the Parties shall cease, and the City shall be entitled to receive one hundred percent (100%) of all TOT generated by the Resort.
Operating Period: A three (3) year duration beginning on 1 January 2021 and concluding 31 December 2013.