Examples of Block Hour in a sentence
With respect to each calendar year during the term of this Agreement, Northwest shall within thirty (30) days from the receipt of the final Block Hour and Cycle Report received pursuant to Section 5.02 for the immediately preceding year, calculate and notify Pinnacle of the ratio of actual Block Hours for Non-Scheduled Flights to actual Block Hours for Scheduled Flights and the ratio of actual Cycles for Non-Scheduled Flights to actual Cycles for Scheduled Flights.
For the calendar year 2006, the Block Hour, Cycle, and Fixed Cost Rates will be adjusted as described below.
Contractor's books and records that relate to the provision of Regional Airlines Services shall be maintained in accordance with generally accepted accounting principles consistently applied, and such books and records and all calculations made pursuant to this Agreement shall be kept and made in accordance with the accounting policies and procedures used by Continental and Contractor to develop Block Hour Rates, unless otherwise agreed in writing by Continental.
The expected cost of such maintenance event provided for in the Block Hour Rates and theretofore paid to Contractor, net of any out-of-pocket costs to Contractor of such cancellation, shall be credited to Continental in connection with the next reconciliation payment pursuant to Paragraph B(9) of Schedule 3.
Effective for 2007, (i) the Block Hour Rate used for 2006 will be multiplied by (1+CPPI), and (ii) the Cycle Rate shall be calculated by multiplying the Base Cycle Rates for 2005 by (1 + CPPIB)* (OTAF), and then calculating the weighted average of the resulting rates, to establish the 2007 rates.