Fuel Flowage. 3.03 The parties agree that in consideration of Lessee receiving fuel and lubricating oil at Acadiana Regional Airport for aircraft, it shall pay to the Airport Authority fuel flowage fees as follows:
Fuel Flowage. True and correct copies of Executive's and its Subsidiaries' fuel flowage and gross receipt statements as filed with the relevant Airport authorities for the period from January 1, 2003 through December 31, 2003, reflecting the gallons of fuel sold by Executive and its Subsidiaries, and revenues on which Executive and its Subsidiaries paid a percentage fee, during such period are attached to Schedule 3.28. Such statements accurately reflect the gallons of fuel sold and revenues earned by Executive and its Subsidiaries during such period and were prepared in accordance with Executive's books and records. Executive's and its Subsidiaries' fuel sales records for each customer who purchased fuel during the period January 1, 2004 through March 31, 2004 are also attached to Schedule 3.28. Such fuel sales records accurately reflect the actual number of gallons sold to each customer of Executive and its Subsidiaries during such period and the actual prices charged by Executive and its Subsidiaries to each customer during such period.
Fuel Flowage. In the event that Tenant sells fuel, Tenant shall pay a fuel flowage fee per gallon as may be established by the Landlord from time to time on all fuels and oils sold, dispensed, or consumed from, on, or about the Parcel. As of the Effective Date, the fuel flowage fee per gallon is $0.20 per gallon for the first 450,000 gallons per year and then reduces to $0.15 per gallon for the remainder of that year.
