Fuel Farm. Upon the expiration or termination of the agreement with Total Petroleum of Puerto Rico Corp. and BP Products North America, Inc. for the operation of the fuel farm at the Airport in effect as of the Closing, the Lessee shall ensure the continuity of the operation of the fuel farm by entering into a new agreement with Total Petroleum of Puerto Rico Corp. and/or BP Products North America, Inc. or another experienced fuel farm operator or operating the fuel farm directly. In either case, the amount of a Flowage Fee charged to the fuel farm operator(s), or if operated by the Lessee, which would have been charged to a third party operator of the fuel farm, may not exceed (i) the amount charged under the agreement with Total Petroleum of Puerto Rico Corp. and BP Products North America, Inc. in effect as of the Closing multiplied by (ii) the fraction equal to (A) the CPI Value for the calendar year prior to the effectiveness of such new agreement divided by (B) the CPI Value for the calendar year prior to the calendar year in which the Closing occurs. For the avoidance of doubt, neither a third-party operator nor the Lessee (as a self-operator or otherwise) may impose charges on the Signatory Airlines related to the fuel farm other than the Flowage Fee contemplated under this Section 2.4(c); provided, however, that to the extent that the portion of the amount of any Flowage Fee that is imposed by the Authority pursuant to statutory authorization for the imposition of a tax or a fee in lieu of a tax is increased as a result of a change in Law, then the amount permitted to be charged hereunder shall be automatically increased by such amount. For the avoidance of doubt, the Lessee may continue to impose and receive from the fuel farm operator the concession and rental fees that are currently charged to the fuel farm operator.
Fuel Farm. Subtenant may use the fuel farm at the Hangar for purposes of fueling the Aircraft. Subtenant shall be entitled to purchase fuel for the Aircraft from Sublandlord at cost. Subtenant shall also reimburse Sublandlord for all fuel flow fees paid by Sublandlord to the County under Article 3, Section II of the Master Lease in connection with the fuel purchased by Subtenant. If Sublandlord and Subtenant do not collectively consume enough fuel in any year to cause the fuel flow fees paid to the County to exceed the minimum annual guaranteed flow fee specified in Article III, Section II of the Master Lease, the parties agree that they each shall be responsible for paying fifty percent (50%) of the fuel flow fee deficiency. Subtenant shall pay its share of such deficiency within thirty (30) days after receipt of an invoice therefor from Sublandlord. Subtenant shall maintain accurate records of all fuel consumed by Subtenant and shall permit Sublandlord to inspect such records upon request. Subtenant shall reimburse Sublandlord by the 10th day of each month for all fuel consumed during the previous month and all fuel flow fees due in connection therewith.
Fuel Farm. For exclusive use of the Fuel Farm, Lessee shall pay to the City for 24,600 square feet an annual amount of twenty cents ($0.20) per square foot annually for a total annual amount of four thousand nine hundred twenty dollars ($4,920.00) paid in equal monthly payments of four hundred ten dollars ($410.00) due and payable on the first of each month. Rates will be subject to adjustment commencing on January 1st every five (5) years with the adjustment being the total of the Consumer Price Index for the Minot region for the previous five-year period aggregated, or an increase of seven percent (7%) whichever is greater. The parties recognize that due to the extended Term of this Agreement, additional investment is likely for either major maintenance, replacement, or expansion of the Fuel Farm during the Base Term and Option Term. If Lessee and the City are in mutual agreement and desire to undertake any major maintenance, replacement, or expansion of Fuel Farm and/or equipment, Lessee shall submit a plan to the City in writing with the desired improvement and an estimated cost. Each such improvement shall be funded as follows: (i) the first twenty-five thousand dollars ($25,000) of the improvements shall be split and paid evenly by Lessee and City and the City will provide a rent credit equal to fifty percent (50%) of the total Fuel Farm monthly rental payments from the date of substantial completion of the improvement until the rent credits applied have equaled Lessee’s expenditure; (ii) the next twenty-five thousand dollars ($25,000) shall be paid by Lessee and shall constitute and satisfy a portion of Xxxxxx’s Capital Investment Commitment; and (iii) any amount in excess of the first fifty thousand dollars ($50,000) shall be split and paid evenly by Xxxxxx and City. Payment by the City shall be made within thirty (30) days of written notice of the completion of the improvement. The parties agree that any amount expended by Xxxxxx will satisfy the Capital Investment Commitment requirement for the identified amount.
Fuel Farm. It is essential to provide a storage area for the supply of aviation fuel for the refuelling of aircraft that land at Bangalore. The master plan has allocated a space for the fuel farm to the west of the airport site. Provision of fuel hydrant system to transport fuel from the depot to the aircraft shall be included in the concession agreement with the supplier. In the initial phase as the rate of aircraft movement is not very high and the fuel requirements not very great, combination of fuel hydrant and fuel tanks for remote stands, would be used to refuel the aircraft.
