Minimum Annual Concession Fee definition
Examples of Minimum Annual Concession Fee in a sentence
Any adjustment in the Minimum Annual Concession Fee associated with the provisions of Article 5.A.1.b.
See Article 5 of the Concession Agreement for additional details on the Concession Fees and how the Minimum Annual Concession Fee will be adjusted during the Term of the Concession.
The portion of the Minimum Annual Concession Fee that consists of the Annual Rental Fee will be determined by the Aviation Authority by an appraisal prior to the Commencement Date and the Minimum Annual Privilege Fee will be calculated at that time by subtracting the Annual Rental Fee from the initial Minimum Annual Concession Fee.
The Minimum Annual Concession Fee shall equal the sum of the Annual Rental Fee, which is based on the fair market value of the Premises, plus the Minimum Annual Privilege Fee, which fee is paid for the grant by the Aviation Authority of a franchise to engage in the business of operating the Concession within facilities operated and controlled by the Aviation Authority.
Pursuant to Article 5.A. of the Concession Agreement, the successful Proposer shall pay to the Aviation Authority, for each Agreement Period of the Term of the Concession Agreement, a Concession Fee, in an amount equal to the greater of: (1) the Minimum Annual Concession Fee consisting of the sum of an Annual Rental Fee and a Minimum Annual Privilege Fee, or (2) the Percentage of Gross Receipts.
During the programme, trainers (with supplementary feedback from mentors) will monitor trainees’ progress toward stated goals and will provide feedback to them and to other OMC staff involved in the programme as necessary.
Each Proposer is required to submit a proposed Percentage of Gross Receipts for food and non-alcoholic beverage sales, DO NOT propose on the fixed Minimum Annual Concession Fee, employee sales or alcohol sales.
The Minimum Annual Concession Fee shall equal the sum of the Annual Rental Fee, initially, and No/100 Dollars ($ , .00), which is based on the fair market value of the Premises, plus the Minimum Annual Privilege Fee, initially, Hundred and No/100 Dollars ($ , .00), which fee is paid for the grant by the Aviation Authority of a franchise to engage in the business of operating the Concession within facilities operated and controlled by the Aviation Authority.
Thereafter, this Agreement shall continue in effect on a month-to-month basis until Cruise Line or a third party takes over the concession operations on all Vessels provided that the Minimum Annual Concession Fee and the obligations set forth in Section 1.3 shall not apply.
The Initial Minimum Annual Concession Fee is set by the Aviation Authority at One Hundred Sixty Five Thousand and No/100 Dollars ($165,000.00).