FAA Airport Privatization Pilot Program Sample Clauses

FAA Airport Privatization Pilot Program. The Lessee shall, at all times during the Term and (except as otherwise set forth herein or in the Use Agreement) at its sole cost and expense, observe and comply with, in all material respects, and cause the LMM Airport Facility Operations to comply with, in all material respects, all applicable Laws now existing or later in effect that are applicable to it or the LMM Airport Facility Operations with respect to the FAA’s Airport Privatization Pilot Program pursuant to 49 U.S.C. § 47134, including by ensuring that: (i) the LMM Airport Facility will continue to be available for public use on reasonable terms and conditions and without unjust discrimination; (ii) the LMM Airport Facility Operations will not be interrupted in the event that the Lessee becomes insolvent or seeks or becomes subject to any federal, Commonwealth or State bankruptcy, reorganization, insolvency, liquidation, or dissolution proceeding or any petition or similar Law seeking the dissolution or reorganization of the Lessee or the appointment of a receiver, trustee, custodian, or liquidator for the Lessee or a substantial part of the Lessee’s property, assets, or business; (iii) the Lessee will maintain, improve, and modernize the LMM Airport Facility through capital investments and will submit to the Secretary a plan for carrying out such maintenance, improvements, and modernization; (iv) every fee of the LMM Airport Facility imposed on an air carrier on the day before the Closing will not increase faster than the rate of inflation unless a higher amount is approved by at least 65% of the Airlines serving the LMM Airport Facility and by Airlines whose aircraft landing at the LMM Airport Facility during the preceding calendar year had a total landed weight during the preceding calendar year of at least 65% of the total landed weight of all aircraft landing at the LMM Airport Facility during such year; (v) the percentage increase in fees imposed on general aviation aircraft at the LMM Airport Facility will not exceed the percentage increase in fees imposed on air carriers at the airport; (vi) safety and security at the LMM Airport Facility will be maintained at the highest possible levels; (vii) the adverse effects of noise from LMM Airport Facility Operations will be mitigated to the same extent as at a public airport; (viii) any adverse effects on the Environment from LMM Airport Facility Operations will be mitigated to the same extent as at a public airport; and (ix) any collective ba...
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