Common use of Change of Manager Clause in Contracts

Change of Manager. Notwithstanding what may otherwise be provided in this Agreement or in this Amendment, the City shall have the option to replace the Arena Manager at any time after June 30, 2016; provided, that the City first delivers notice of such election (the “Arena Management Replacement Notice”) not less than ninety (90) days prior to the effective date of the replacement of the Arena Manager. Upon delivery of the Arena Management Replacement Notice the City and the Arena Manager shall amend the Agreement as necessary to reflect such replacement including, without limitation, Exclusive Arena Manager Revenues, Section 1.1.5, Section 9 (Charges and Fees), the deletion of Sections 8.1 and 8.4 thereof as well as Exhibits “C”, “F”, “G”, “H”, and “L provided, that notwithstanding such replacement, the Team Owner shall have the right to generate, collect and retain the Exclusive Arena Manager Revenues attributable to Hockey Events. Team Owner shall have no right to any and all revenues, including surcharges, that are attributable to Non-Hockey events. Parties expressly agree that in the event the City replaces the Arena Manager that the Team Owner will have the right to continue to receive concession, sponsorship and licensing revenues attributable directly to hockey events for the remainder of the term of the agreement. The Parties also agree that the replacement Arena Manager will not be permitted to charge or assess Surcharges or Supplemental Surcharges on any Coyotes Hockey Event tickets. Notwithstanding the foregoing, parties will negotiate in good faith and shall amend the agreement as necessary to reflect this understanding. Furthermore, in the event that the city replaces the Arena Manager, the management fee described in section 10.1 shall be prorated based upon the number of months Arena Manager has served as the Arena Manager. By way of example, in the event that the city replaces the Arena Manager effective in the third month of the fiscal year, the Arena Manager will be paid one million eighty three thousand three hundred thirty-three dollars and thirty-three cents ($1,083,333.33) for the two months of service performed by the Arena Manager ($6,500,000÷12 x 2).