City Surcharge definition
Examples of City Surcharge in a sentence
The Arena Manager shall, with respect to each Hockey Event that is a Fee Activity, deposit into the City Surcharge Account, within one Business Day after the Arena Manager’s receipt thereof, all amounts received by the Arena Manager from the Team Owner and payable as City Surcharge pursuant to this Section with respect to such Hockey Event.
With respect to a Fee Activity that is not a Hockey Event, Team Revenue Event, City Revenue Event or City Sponsored Event, the Arena Manager shall deposit into the City Surcharge Account, within one Business Day after the Arena Manager’s receipt thereof, all amounts received by the Arena Manager and payable as City Surcharge pursuant to this Section from the Licensee under the License for such Fee Activity.
Not later than the last day of each calendar month, (a) a statement setting forth the prior calendar month’s Operating Revenues, Operating Expenses, and expenditures for Capital Improvements; and (b) a statement setting forth the end of the month balances for each of the Arena Accounts (other than the City Surcharge Account) and describing the reasons for any transfers between or among accounts (other than withdrawals by the City from the City Surcharge Account) during the prior calendar month.
Net Revenue shall mean gross receipts, revenue and income from sources other than Concessions and Premium Seating relating to Events reduced by any related sales tax, administrative fees allowed under this Agreement and/or other similar tax on gross receipts and the City Surcharge.
The Arena Manager shall, with respect to each City Sponsored Event that is a Fee Activity and for which the City has not waived the City Surcharge, deposit into the City Surcharge Account, within one Business Day after the Arena Manager’s receipt thereof, all amounts the City causes to be paid to the Arena Manager pursuant to this Section for the City Surcharge for such Event.
The Arena Manager shall, prior to the Closing Date, establish and maintain the City Surcharge Account, and shall make deposits into the City Surcharge Account of all City Surcharge received by the Arena Manager.
The Arena Manager shall, with respect to each Team Revenue Event and City Revenue Event that is a Fee Activity, deposit into the City Surcharge Account, within one Business Day after the Arena Manager’s receipt thereof, all amounts received by the Arena Manager from the Licensee and payable as City Surcharge pursuant to this Section under the License for such Event.