Common use of Suites Clause in Contracts

Suites. The “Fire Pit Suites” (in total, approximately 1,250-person maximum capacity) at the Venue (“Suites”), are owned by, or otherwise designated to, third party investors of Owner (or an Affiliate (as defined below) thereof) and no additional revenues from sales of tickets are expected to be derived from that space and no Base Fee is payable to Owner for any tickets issued for the Suites. For all other purposes, the Suites shall operate as part of the Premises, including Operator’s responsibilities for operating the Suites, and all food and beverage revenues therefrom shall be included as Adjusted Gross Revenues (going towards the Operating Income Threshold) and all operating expenses shall be included as Event Expenses. Any tickets issued, or attendees within the Suites for an Event issued for space within a Suite shall not be counted for purposes of the Event/ Attendance Targets. Operator will not be charged (whether as a Show Expense or otherwise) for any parking for vehicles associated with non-manifested Suites. Notwithstanding anything contained herein to the contrary, if Operator receives three or more written complaints in any Year from artist representatives regarding the number of non-manifested Suites, the re-sale of tickets for non-manifested Suites and/or the number of unoccupied Suites, Operator shall notify Owner in writing of the applicable issue (the “Suites Notice”). The Parties shall promptly meet and confer to address the applicable issues. If Owner fails to address the complaints to Operator’s satisfaction, then Operator will have the right – in its sole and absolute discretion - to terminate this Agreement upon prior written notice to Owner and payment to Owner of a termination fee in the amount of $[***], with termination effective at the end of the calendar year in which the Suites Notice was given. Following such termination, neither Party shall have any liability to the other.