Collection of Vernon Municipal Fee Sample Clauses

Collection of Vernon Municipal Fee. Commencing September 7, 2018, subject to the terms set forth herein, Mountain Creek and/or any operator licensed by or in contract with Mountain Creek (including any successor to Mountain Creek) to operate/manage any Recreational Activity (hereinafter, collectively, “Resort Operator(s)”) shall cause to be charged and collected from every customer purchasing a ticket for admission----(whether such ticket is an individual ticket or included as part of a group sale or ticket/admission package, in which case the Vernon Municipal Fee will be charged to the Recreational Activity portion of such ticket/admission package) for any Recreational Activity a fee equal to 7% of the gross ticket price related to such Recreational Activities (the “Vernon Municipal Fee(s)”). In the event there is a shortfall in collections of the Vernon Municipal Fees (the “Shortfall”) necessary to repay the annual Sewer Agreement Obligations due in any calendar year, in addition to all other remedies provided herein, Mountain Creek and/or a Resort Operator shall, from the first day of the calendar year immediately following the Shortfall, cause to be charged and collected from 5 The Parties agree that the monthly obligation for the Pump House Obligations will be based on the total estimated cost and expenses to be incurred by the Vernon Parties, including costs associated with any bond offering or financing. The Vernon Parties currently estimate the monthly Pump House Obligations to be between $6,800.00- $9,500.00 based on the availability of financing or bonding and estimated costs to design and permit the Pump House. The Vernon Parties further agree that they will use good faith commercial best efforts to issue bonds or obtain financing on the best financial terms possible under the circumstances and will provide updates to Mountain Creek as reasonably requested by Mountain Creek throughout the process of (a) designing and constructing the upgrade to the Pump House, and (b) issuing the bonds or obtaining such other financing, with the goal of designing and constructing the upgrade to the Pump House on the most economical terms possible. The Parties expressly acknowledge that the Vernon Parties shall have the sole authority and control relating to the design and construction of the Pump House; provided, however, the Vernon Parties shall use their best efforts to design and construct a Pump House with capacity that is sufficient to handle Vernon’s needs from the Town Center (as defined in...
Sample 1
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Collection of Vernon Municipal Fee. Commencing September 7, 2018, subject to the terms set forth herein, Mountain Creek and/or any operator licensed by or in contract with Mountain Creek (including any successor to Mountain Creek) to operate/manage any Recreational Activity (hereinafter, collectively, “Resort Operators”)Operator(s)”) shall cause to be charged and collected from every customer purchasing a ticket for admission----(whether such ticket is an individual ticket or included as part of a group sale or ticket/admission package, in which case the Vernon Municipal Fee will be charged to the Recreational Activity portion of such ticket/admission package) for any Recreational Activity a fee equal to 7% of the gross ticket price related to such Recreational Activities (the “Vernon Municipal Fee(s)”). In the event there is a shortfall in collections of the Vernon Municipal Fees (the “Shortfall”) necessary to repay the annual Sewer Agreement Obligations due in any calendar year, in addition to all other remedies provided herein, Mountain Creek and/or anya Resort Operator shall, from the first day of the calendar year immediately following the Shortfall, cause to be charged and collected from every customer purchasing a ticket for admission for any Recreational Activity a fee equal to 8% of the gross ticket price related to such Recreational Activities until such time as the sShortfall for the prior year(s) is fully paid. If the sShortfall, if any, is paid, Mountain Creek shall reduce the fee to 7% of the gross ticket price, until such time as the shortfall from the prior year is paid. .
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Related to Collection of Vernon Municipal Fee

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