Central Trash and Recycling Facility Sample Clauses

Central Trash and Recycling Facility. The City will have the right to dispose of trash and recycling from the Durham Performing Arts Center (“DPAC”) in the Ballpark trash and recycling facilities. If the City elects to dispose of the DPAC trash and recycling in the Ballpark trash and recycling facilities, Club will be responsible for disposing of the DPAC trash and recycling, and the City will pay to Club Ten Thousand and No/100 Dollars ($10,000.00) per year, which amount will increase or decrease each year by CPI, subject to a cap of three percent (3%) per year. The City will have the right to assign its right to dispose of the DPAC trash and recycling in the Ballpark trash and recycling facilities to any operator of the DPAC, provided, however, the City shall remain responsible to Club for any such payment. If the City assigns this right to the DPAC operator, Club will invoice the DPAC operator at the beginning of each Baseball Season for one annual payment requiring the DPAC operator to pay the invoice amount within thirty (30) days of the date it receives the invoice. If the DPAC operator fails to make payment of the trash and recycling fees on the date when such payment is due, Club may hold the DPAC operator liable for late fees in an amount equal to the Prime Rate plus five percent (5%) per year. If the DPAC operator fails to make timely payment, Club will be entitled to receive payment from the City.
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