Common use of MARGIN SHARING Clause in Contracts

MARGIN SHARING. Commencing with the first calendar quarter after the fifth (5th) anniversary of the Effective Date, within sixty (60) days after the end of each calendar quarter during the Term, Operator shall provide Delta a certificate (the “Margin Certificate”) signed on behalf of Operator by its chief financial officer, that states the actual total margin that Operator earned on operating the Delta Connection Flights (and any charter operations pursuant to Section 1(D) hereof) (the “Actual Margin”) during such calendar quarter. Such Margin Certificate shall include an exhibit that fully sets forth Operator’s actual amount for each of the variables set forth in the formula set forth below and the calculation of its Actual Margin and certify to the accuracy of the Actual Margin. Actual Margin for any given calendar quarter shall be determined, on a pre-tax basis, by applying the following formula: [***] Where: [***] If Operator’s Actual Margin is greater than [***], Operator shall pay Delta an amount equal to [***] of the amount of the Total Payments attributable to that portion of Operator’s Actual Margin exceeding [***] for such calendar quarter.