Reserved Events definition
Examples of Reserved Events in a sentence
Operator will use commercially reasonable efforts to book (a) an average of 30 Events per Year or (b) hold Events with an average of [***]attendees per year (each pro-rated for any partial Year, adjusted for seasonality and reduced for the number of Owner Reserved Events booked by Owner on dates that Operator could have otherwise booked Events) (the “Event or Attendance Target”).
Notwithstanding anything contained herein to the contrary, all proposed Owner Reserved Events and related date holds will be reasonably controlled by Operator so as not to negatively impact its ability to hold dates, make offers, confirm shows and maximize performance under this Agreement.
Corporate Events and Owner Events are referred to collectively as the “Owner Reserved Events.” Owner Reserved Events will be booked pursuant to industry standard calendar scheduling processes, artist restrictions and standard licensing procedures.
For any Owner Reserved Events with paid tickets, the Base Fee shall only be payable in the event that Owner chooses to charge it as an Event Expense and then it will be paid as part of the settlement of such event.
Operator will use commercially reasonable efforts to book a minimum of 35 Events at the Venue annually starting in the first full Year with an average of [***]attendees per Event (the “Event/Attendance Target”), in each case pro-rated for any partial Year, and reduced for the number of Owner Reserved Events booked by Owner on dates that Operator definitively would have otherwise booked Events).
The “Base Fee” payable to Owner shall be $[***]per paid ticket to each public event held by Operator pursuant to this Agreement at the Premises (each, an “Event”), including any Event opted out of by Owner, excluding Owner Reserved Events and tickets related to the non-manifested Suites.
For any Owner Reserved Events with paid tickets, the Base Fee shall only be payable in the event that Owner chooses to charge it as an Event Expense, and in such event, it will be paid as part of the settlement of such Event.
The term “Private Rental” shall not be interpreted to include City Reserved Events.
Reserved Rights" means the Reserved Flight Operations, the Reserved Events and the Reserved Areas and any other rights Landlord has reserved for itself pursuant to section 2.6 of this Lease.
IAC shall be exclusively responsible for obtaining, selling and/or providing food and beverages, except for food and beverages served at City Reserved Events (as defined in Section 9(A)).