Common use of Utility Cost Clause in Contracts

Utility Cost. 1. Party B shall pay the cost of utilities for their F&B operation including, but not limited to, electricity, water, waste management, heating, air-conditioning, the cost of using internet connections for the EPOS system and other necessary features, et Cetra, to the designated account of Party A on every 15th of each month (the date right after 15th when 15th of a certain month falls on Saturday, Sunday or any national holidays) during the contract period. Utility cost is exclusive of all applicable taxes, and the related taxes are to be borne by Party B. 2. The official rate of utilities determined by the agreement between Party A and IICC Limited(SPV) will be applied. 3. Upon conclusion of the Contract, Party B shall be responsible for maintaining the optimal condition of the F&B area and auxiliary spaces such as the kitchen, storage room and any other spaces pertaining to their F&B operation. All utility costs incurred by maintaining those areas shall be borne by Party B. 4. For clarification, the utilities to be provided at the F&B Outlet kitchens are electricity, cold water and ventilation. Gas and hot water will not be provided. 5. In case the Catering Service Provider of IICC chooses not to utilise the catering facilities defined in Table 2 below, Party B can choose to utilise the facilities for their operations instead. Exhibition Hall 1(EH 1) Catering Facilities 1,384 o B1F: 670sqm o GF: 280sqm o 1F: 434sqm Convention Centre Catering Facilities 461 o 5F Kitchen: 440sqm o 6F Pantry: 21sqm In such a case, Party B shall pay the fundamental rental/management fee for the catering facilities it utilises, which will be calculated using the formula below. - INR 200/sqm(Basic rental rate) x (Utilised Area) = (Monthly Rental) - FOR EXAMPLE : INR 200/sqm x 670sqm = INR one hundred thirty-four thousand(134,000) per month The minimum area of catering facilities Party B chooses to utilise shall be the entire facility on a single floor. Party B shall pay the fundamental rental for the catering facilities, among other costs, to Party A by the 15th of every month.