PFCs Clause Samples
PFCs. The Lessee shall have the right to charge, assess, collect, seek, and apply such PFCs that may have in the past or in the future been authorized under 49 U.S.C. § 40117, or any predecessor or successor Law, and as approved by the FAA from time to time with respect to the LMM Airport Facility. PFCs collected for the LMM Airport Facility may not be used to finance projects at any other airport facility.
PFCs. DOT&PF reserves the right to institute and to adjust a PFC in accordance with 49 U.S.C. § 40117 and applicable implementing regulations adopted by the FAA, 14 CFR Part 158, as they may be amended from time to time (the "PFC Regulations"), if DOT&PF desires and if the FAA approves. If a PFC is instituted, its proceeds will, for the purposes of this Agreement, not be included in Revenue but will be dedicated to funding, directly or indirectly, Airport System Capital Projects. Proceeds of such a charge collected by AIRLINE from passengers or third-party ticket sellers by AIRLINE and other passenger airlines serving the Airport System will be deemed the property of DOT&PF, held in trust for the State pending remittance to DOT&PF. AIRLINE shall not commingle PFCs with its revenues and shall not pledge PFCs as collateral in any financial transaction.