CONCESSION PAYMENT AND STATEMENTS Sample Clauses

CONCESSION PAYMENT AND STATEMENTS. In consideration of the rights and privileges conferred by this Agreement, Concessionaire agrees to pay Authority the following amounts: A. Concession Fees and Minimum Annual Guarantee (“MAG”): The following concession fees shall be payable to the Authority on Gross Revenues resulting from the retail or catering components of the concession: 1. Liquor- sixteen percent (16%) 2. Food, non-alcoholic beverages and vending- twelve percent (12%) 3. Retail- fifteen percent (15%)