Common use of Application of Revenue Clause in Contracts

Application of Revenue. The City will in each year of the Term, retain all Revenue generated and account for and apply all Revenue generated or received as follows: (a) firstly to payment of Operational and Capital Costs; and (b) secondly to payment of any surplus to the Region Without limiting the generality of the foregoing the City covenants and agrees that it will not seek reimbursement, compensation or payment, except in respect of damages sustained as a result of a breach by the Region of any term or provision of this Agreement to be expressly observed or performed by the Region and other than as set out in this Agreement for any Costs incurred by the City in the fulfillment of its duties, obligations and covenants under this Agreement or any other agreement between the City and the Region in respect of the Facilities even if Costs exceed Revenue.

Application of Revenue. The City will in each year of the Term, retain all Revenue generated and account for and apply all Revenue generated or received as follows: (a) firstly to payment of Operational Operating Costs and Capital Costs; and (b) secondly to payment of any surplus to the Region Without limiting the generality of the foregoing the City covenants and agrees that it will not seek reimbursement, compensation or payment, except in respect of damages sustained as a result of a breach by the Region of any term or provision of this Agreement to be expressly observed or performed by the Region and other than as set out in this Agreement for any Costs incurred by the City in the fulfillment of its duties, obligations and covenants under this Agreement or any other agreement between the City and the Region in respect of the Facilities even if Operating Costs exceed Revenue.

Application of Revenue. The City will in each year of the Term, retain all Revenue generated and account for and apply all Revenue generated or received as follows: (a) firstly firstly, to payment of Operational Operating Costs and Capital Costs; and (b) secondly to payment of any surplus to the Region Without limiting the generality of the foregoing the City covenants and agrees that it will not seek reimbursement, compensation or payment, except in respect of damages sustained as a result of a breach by the Region of any term or provision of this Agreement to be expressly observed or performed by the Region and other than as set out in this Agreement for any Costs incurred by the City in the fulfillment of its duties, obligations and covenants under this Agreement or any other agreement between the City and the Region in respect of the Facilities even if Operating Costs exceed Revenue.