MACF definition
Examples of MACF in a sentence
If the net commission fees paid to Cruise Line for Revenue-Generating Cruises exceeds both the MACF and the Total Annual Commission Fee, then Cruise Line shall pay to Concessionaire the difference between such net commission fees and the greater of either the MACF or Total Annual Commission Fee.
Concessionaire will pay annually to Cruise Line the greater of the amounts of the MACF or the actual commissions for Gross Revenue, as defined below, during the calendar year onboard the Vessels, but not both, as calculated pursuant to Section 4.6 below; plus the amount calculated pursuant to Section 4.2(b).
Using such calculations, the Parties shall determine whether and in what amounts any additional payment is needed from Concessionaire to insure that Cruise Line effectively received in commission fees for Revenue-Generating Cruises the higher of the MACF or the Total Annual Commission Fee described above in Section 4.6(a).
For that portion of calendar year 1999 that this Agreement is in effect, there shall be no applicable MACF.
Beginning in 2001, if the Commission Fee paid in each of four (4) successive calendar quarters under Section 4.2(a) is less than [* ] of the amount that would be due if the MACF were calculated on a pro-rata basis for the same four (4) quarters, then for a period of ninety (90) days after the last quarterly calculation, either Party shall have the right to terminate this Agreement upon thirty (30) days prior written notice to the other Party.
For each calendar year starting with 2000, and for that portion of the final calendar year that this Agreement is in effect, Concessionaire guarantees that Cruise Line will receive at least the Minimum Annual Concession Fee ("MACF") calculated in accordance with the terms of this Agreement.