Common use of County Fair Clause in Contracts

County Fair. During the Amended Allocated Tax Period, the Chamber agrees to sponsor specific event(s), to be determined jointly by the Chamber and County each year, at the Summit County Fair by annually paying the sum of $180,000 (the “Fair Payment”) to the County and designating the specific event(s) to be sponsored. If not timely paid, the County shall have the right of offset against, and deduct from and retain, Transient Room Tax allocations due by the County to the Chamber pursuant to this Agreement the amounts of any such Fair Payments as the Chamber has failed to pay. The Chamber shall pay the Fair Payments annually in advance on July 1st of each year this Agreement remains in effect. This Section 3 supersedes and replaces the First Amendment, Section 6, in its entirety.

County Fair. During the Amended Allocated Tax Period, the Chamber agrees to sponsor specific event(s), to be determined jointly by the Chamber and County each year, at the Summit County Fair by annually paying the sum of $180,000 25,000 (the “Fair Payment”) to the County and designating the specific event(s) to be sponsored. If not timely paid, the County shall have the right of offset against, and deduct from and retain, Transient Room Tax allocations due by the County to the Chamber pursuant to this Agreement the amounts of any such Fair Payments as the Chamber has failed to pay. The Chamber shall pay the Fair Payments annually in advance on July 1st of each year this Agreement remains in effect. This Section 3 supersedes and replaces Beginning on July 1, 2019, the First Amendment, Section 6, in its entiretyFair Payment shall be automatically increased for each succeeding Fiscal Budget Year to reflect the CPI for the prior Fiscal Budget Year.