MINIMUM GUARANTEE FEE. 7.3.1. Beginning on the effective date of the agreement and for a period of 12 months there will be no Minimum Annual Guaranty (MAG). The MAG Fee for each year of the Term of the Agreement after the first Agreement year shall be 85% of the total amount of Percentage Fee due from Concessionaire to the City during the preceding 12-month period.
Appears in 2 contracts
Sources: Food and Beverage Concession Agreement, Food and Beverage Concession Agreement