Facility Fund for Repair/Replacements of Technical Equipment Sample Clauses

Facility Fund for Repair/Replacements of Technical Equipment. Annually, the Owners shall request input from the MCA and the Owners shall establish no later than January 1 of each year, a Facility Fee to be collected by the Board of Directors beginning July 1 of the year following the Owners’ establishment of that Facility Fee. The Facility Fee shall be charged on a per-ticket basis for all ticketed events and as a flat-rate fee for all non- ticketed events. The Facility Fee shall be used to repair and/or replace technical and stage equipment for the MCA. Facility Fees collected will be held by the Board of Directors and quarterly income and expense statements will be provided to the Owners. If the Owners do not take action to change the Facility Fee by January 1 the prior year’s Facility Fee will continue unchanged for the succeeding year. The Board of Directors will present annually a five-year schedule of repair/replacement of technical equipment to the Owners for approval (the “Facility Fund Technical Budget”). The Facility Fund Technical Budget will include both projected revenues from the ticket surcharge as well as projected cost items over the next five years. In the event the Facility Fund Technical Budget projects an excess of revenues over anticipated costs, such excess Facility Funds may be transferred to the Capital Account with majority approval of the Owners.
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Related to Facility Fund for Repair/Replacements of Technical Equipment

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  • Selection of Subcontractors, Procurement of Materials and Leasing of Equipment The contractor shall not discriminate on the grounds of race, color, religion, sex, national origin, age or disability in the selection and retention of subcontractors, including procurement of materials and leases of equipment. The contractor shall take all necessary and reasonable steps to ensure nondiscrimination in the administration of this contract.

  • Routine Maintenance, Construction, and Repair The NYISO or Connecting Transmission Owner may interrupt interconnection service or curtail the output of the Small Generating Facility and temporarily disconnect the Small Generating Facility from the New York State Transmission System or Distribution System when necessary for routine maintenance, construction, and repairs on the New York State Transmission System or Distribution System. The NYISO or the Connecting Transmission Owner shall provide the Interconnection Customer with five Business Days notice prior to such interruption. The NYISO and Connecting Transmission Owner shall use Reasonable Efforts to coordinate such reduction or temporary disconnection with the Interconnection Customer.

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