Examples of Required closure in a sentence
As of the last Day of each month, the Actual Operating Revenue collected by the Metering Device for each Concession Metered Parking Space in a Parking Lot during such month shall be allocated to each Metered Parking Space (whether subject to a Required Closure or not during such month) which is serviced by such Metering Device by multiplying such Actual Operating Revenue by such space’s Revenue Distribution Percentage as of the first Day of such month.
As of the last Day of each month, the Actual Operating Revenue collected by the Metering Device for such space during such month shall be allocated to each Metered Parking Space (whether subject to a Required Closure or not during such month) which is served by such Metering Device by multiplying such Actual Operating Revenue by such space’s Revenue Distribution Percentage as of the first Day of such month.
The Concessionaire shall be obligated to pay all other costs and expenses related to the installation of Metering Devices for Concession Metered Parking Spaces, including, but not limited to, any required installation of a new Metering Device pursuant to Section 4.4 and any reinstallation of a Metering Device after a Required Closure.
If as a result of a Required Closure, Metered Parking System Operations for a Concession Metered Parking Space are suspended for a number of Days in the Reporting Year in excess of the Required Closure Allowance, then for the current and any subsequent Quarter during such Reporting Year the City shall be obligated to make a Required Closure Payment.
A Required Closure Payment arising in connection with any Quarter shall be due and payable as part of the Quarterly Settlement Amount for such Quarter.
In no event shall any of the three Days be used to calculate more than one Day of Required Closure.
For any such three-Day period, at least two of the Days shall have a Required Closure of some duration not exceeding six hours.