Common use of Second and Subsequent Agreement Years Clause in Contracts

Second and Subsequent Agreement Years. For the second and each subsequent Agreement Year, the Minimum Annual Guarantee shall be an amount equal to eighty five percent (85%) of the total amount (whether by Minimum Annual Guarantee or Percentage Fees) paid or payable by Concessionaire to the Port for the previous Agreement Year or the Minimum Annual Guarantee for the first Agreement Year set forth in Section 37.1.1.1, whichever is greater.

Second and Subsequent Agreement Years. For the second and each subsequent Agreement Year, the Minimum Annual Guarantee shall be an amount equal to eighty five percent (8580%) of the total amount (whether by Minimum Annual Guarantee or Percentage Fees) paid or payable by Concessionaire to the Port for the previous Agreement Year or the Minimum Annual Guarantee for the first Agreement Year set forth in Section 37.1.1.15.1.1.1, whichever is greater.

Second and Subsequent Agreement Years. For the second and each subsequent Agreement Year, the Minimum Annual Monthly Guarantee shall be an amount equal to one twelfth (1/12) of eighty five percent (85%) of the total amount (whether by Minimum Annual Monthly Guarantee or Percentage Fees) paid or payable by Concessionaire to the Port for the previous Agreement Year or the Minimum Annual Guarantee for the first Agreement Year set forth in Section 37.1.1.1, whichever is greaterYear.