Operating Period definition
Examples of Operating Period in a sentence
Not later than one hundred twenty (120) days after the end of each Fiscal Year during the Operating Period, City shall pay the Covenant Payment for said Fiscal Year, or portion thereof, to Developer.
Without limiting the generality of the foregoing, upon the expiration or termination of the Operating Period, City will execute and deliver such instruments as may be prepared by Developer at Developer’s expense to release the cloud upon title to the Site created by this Covenant; provided, however, that any such document shall be in a form reasonably acceptable to the City Attorney of City.
During the entire Operating Period, Developer shall operate the Dine- in area of the Restaurant.
During the entire Operating Period, the Site shall not be put to any use other than the operation of the Restaurant and uses ancillary thereto.
In this regard, it is understood and agreed that the Covenant Payments are in consideration of Developer’s performance during each Fiscal Year of the Operating Period and are not repayments of a loan.