Minimum Annual Guarantee or Percentage of Gross Receipts Fee Sample Clauses

Minimum Annual Guarantee or Percentage of Gross Receipts Fee. In consideration of the rights and privileges to be granted to the Contractor by the Airports Authority, the Contractor shall pay to the Airports Authority as compensation therefor, during each Contract Year of the Contract, the following rentals and fees. The Contractor shall, during the Contract Term specified in Section 1.01 herein, pay annually to the Airports Authority either the Minimum Annual Guarantee (“MAG”) as outlined in the Contractor’s Financial Offer Form in Exhibit 1-J or a Percentage of Gross Receipts Fee, as defined in Section 5.01 A.2., from its FBO operation at the Airport, whichever is greater on a Contract Year basis. In addition, the Contractor shall also pay to the Airports Authority a percentage of all other Gross Receipts, as defined in Section 5.01 A.3; Annual Facility Rent, as defined in Section 5.01 A.4.; [Annual Ground Rent, as defined in Section 5.01 A.5.;] Airport Fees, as defined in Section 5.01 A.6.; and Utilities Payments, as defined in Section 5.01 A.7. herein. The fees described herein shall be paid to the Airports Authority in lawful currency of the United States of America.
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Related to Minimum Annual Guarantee or Percentage of Gross Receipts Fee

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