Reserve Metered Parking Spaces definition

Reserve Metered Parking Spaces means those Me- tered Parking Spaces so designated by the City that the Concessionaire operates and maintains on behalf of the City pursuant to this Agreement and with respect to which the City is paid the net Metered Parking Reve- nues.

Reserve Metered Parking Spaces means those Metered Parking Spaces so designated by the City that the Concessionaire operates and maintains on behalf of the City pursuant to this Agreement and with respect to which the City is paid the net Metered Parking Revenues.

Reserve Metered Parking Spaces means those Me- tered Parking Spaces so designated by the City that the Concessionaire operates and maintains on behalf of the City pursuant to this Agreement and with respect to which the City is paid the net Metered Parking Reve- nues.CPM is entitled to all of the revenue generated by the Conces- sion Spaces, while the City is entitled to 85% of the net reve- nue attributable to the Reserve Spaces. CPM operates and maintains both types of parking spaces. The City is entitled to designate, add, and remove any kind of metered space, but if the average daily number of Concession Spaces falls below 30,000 for a reporting year, the City must pay CPM an amount 6 No. 22-1166 equal to the reduction in the fair market value of CPM’s inter- est in the Concession.Section 1.1 defines the City’s “Reserved Powers” as fol- lows:[T]he exercise by the City of those police and regula- tory powers with respect to Metered Parking Spaces, including Concession Metered Parking Spaces and Re- serve Metered Parking Spaces, and the regulation of traffic, traffic control and the use of the public way in- cluding the exclusive and reserved rights of the City to

Examples of Reserve Metered Parking Spaces in a sentence

• As provided in Section 7.2(c), the installation of Metering Devices for Reserve Metered Parking Spaces shall be at the sole cost and expense of the City.

• The addition of or the removal of Concession Metered Parking Spaces and Reserve Metered Parking Spaces by the City (including any direction to install or remove Metering Devices) is not a City Directive and shall not result in Concession Compensation, but shall be governed by the provisions of Article 7.

• The Concessionaire shall be obligated to install promptly Metering Devices with respect to all newly designated Concession Metered Parking Spaces and Reserve Metered Parking Spaces.

• The installation and removal of Metering Devices with respect to Reserve Metered Parking Spaces shall be undertaken by the Concessionaire at the cost and expense of the City.

• If in any Reporting Year, the aggregate invoiced acquisition cost of all Metering Devices placed in service during such Reporting Year with respect to Reserve Metered Parking Spaces exceeds the Acquisition Cost Limitation for such Reporting Year, then the City shall reimburse the Concessionaire for any such aggregate invoiced acquisition cost in excess of the Acquisition Cost Limitation for such Reporting Year.

• No indebtedness for borrowed money of the City is or will be secured by any right or interest in the Metered Parking System or the revenues or income therefrom (other than (i) the revenues payable to the City from the operation of Reserve Metered Parking Spaces and (ii) revenues and income to be derived after the End Date) and no judgment lien exists or shall exist in any revenue derived from or generated with respect to the Metered Parking System.

• The net revenues derived from Reserve Metered Parking Spaces shall be calculated by the Concessionaire and shall be paid to the City by the second Business Day next following the Day of collection of such Metered Parking Revenues (the “Reserve Metered Parking Spaces Payment”).

• The City hereby designates the Reserve Metered Parking Spaces, identified on Amended Schedule 10C as Concession Metered Parking Spaces.

• Following the Effective Date Of Second Amendment, if the City designates any Metered Parking Spaces in a Parking Lot as Reserve Metered Parking Spaces, all Metered Parking Spaces in such Parking Lot shall be designated Reserve Metered Parking Spaces; thereafter, if the City designates any Reserve Metered Parking Spaces in a Parking Lot as Concession Metered Parking Spaces, all Metered Parking Spaces in such Parking Lot shall be designated Concession Metered Parking Spaces.

• As of the Effective Date Of Second Amendment, the City hereby designates the Reserve Metered Parking Spaces located in the Parking Lots, identified on Revised Schedule 10A, as Concession Metered Parking Spaces, with the Expected Utilization Rates shown on Revised Schedule 10A for such Concession Metered Parking Spaces.