OTP Penalty Amount definition

OTP Penalty Amount for each Hub is an amount equal to [***] times a fraction, the numerator of which is the daily average of Aircraft providing Flight Services to and from the Hub during the applicable Six Month Period and the denominator of which is the daily average of all Aircraft providing Flight Services during the applicable Six Month Period. On each anniversary date of the Contract Date the dollar amounts used for calculating the OTP Penalty Amount shall be increased by the increase in the CPI, as determined in accordance with Section 7.4. AWA, within 10 days after receipt of written demand, shall pay to Mesa [***] for each percentage point, or portion thereof, by which Mesa’s OTP Rate system wide exceeds [***] for any Calendar Quarter. On each anniversary date of the Contract Date, the bonus amount shall be increased by the increase in CPI, as determined in accordance with Section 7.4. “Six Month Period” means each January 1 — June 30 and July 1 — December 31 and “Calendar Quarter” means each 3 calendar month period commencing January 1 of each year.
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OTP Penalty Amount for each Hub is an amount equal to [...***...] times a fraction, the numerator of which is the daily average of Aircraft providing Flight Services to and from the Hub during the applicable Six Month Period and the denominator of which is the daily average of all Aircraft providing Flight Services during the applicable Six Month Period. On each anniversary date of the Contract Date the dollar amounts used for calculating the OTP Penalty Amount shall be increased ***CONFIDENTIAL TREATMENT REQUESTED
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Examples of OTP Penalty Amount in a sentence

  • On each anniversary date of the Contract Date the dollar amounts used for calculating the OTP Penalty Amount shall be increased by the increase in the CPI, as determined in accordance with Section 7.4. AWA, within 10 days after receipt of written demand, shall pay to Mesa [***] for each percentage point, or portion thereof, by which Mesa's OTP Rate system wide exceeds [***] for any Calendar Quarter.

  • None of such actions by the board of directors of the Company has been amended, rescinded or modified.

  • The "OTP Penalty Amount" for each Hub is an amount equal to [***] times a fraction, the numerator of which is the daily average of Aircraft providing Flight Services to and from the Hub during the applicable Six Month Period and the denominator of which is the daily average of all Aircraft providing Flight Services during the applicable Six Month Period.