Annual Soccer Service Credit Sample Clauses

Annual Soccer Service Credit. LSC agrees that the City shall be entitled to an Annual Soccer Service Credit to be applied to, and reduce, the Marketing Payment provided for in Article X. The Marketing Payment shall be reduced in a year that the quantity of Paid Admission Tickets sold as an annual average is greater than 4,500, calculated on a basis of actual LSC Home Soccer Games played at the Stadium that year as the denominator and total Paid Admission Tickets sold for that year as the numerator. The Marketing Payment shall be reduced by a dollar amount equal to 5% of Gross Ticket Revenues for all tickets above 4,500. For example, if the annual average Paid Admission Tickets is 5000 and the average ticket price (Gross Ticket Revenues/Paid Admission Tickets) is $20, the Annual Soccer Service Credit would be $10,000 (500 tickets x $20). EXAMPLE Annual Soccer Service Credit for 5,000 or more Paid Admission Tickets sold ANNUAL AVERAGE NUMBER OF TICKETS SOLD ANNUAL SOCCER SERVICE CREDIT 5,000 $ 10,000 6,000 $ 30,000 7,000 $ 50,000 8,000 $ 70,000 9,000 $ 90,000 10,000 $ 110,000 After year five of this Agreement, the Marketing Payment and the Annual Soccer Service Credit shall discontinue.
Sample 1
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Related to Annual Soccer Service Credit

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