Common use of Maximum Payment Obligation Clause in Contracts

Maximum Payment Obligation. Except as set forth in Section 8(b) hereof, the Chargers shall have no other payment obligations to the City for use and occupancy of the Stadium (excluding amounts customarily paid to the City for services (e.g. police) provided by the City for Home Games) and, subsequent to the date of this Supplement Number Eight, the Chargers shall be entitled to retain all other amounts otherwise received by the Chargers and remitted to the City pursuant to the Agreement prior to the date of this Supplement Number Eight. These amounts include, without limitation, amounts received in respect of ticket revenues, parking, concessions and novelties from Home Games, suite or skybox licenses and signage. In addition, the Chargers shall be entitled to receive and retain (i) all other amounts payable by the Chargers and credited to the Chargers against the consideration payable pursuant to the Agreement prior to the date of this Supplement Number Eight, including, without limitation, credits with respect to Qualcomm parking passes, Qualcomm Suite 9B, parking pass printing and property taxes, reimbursement of skybox maintenance expenses pursuant to the 1995 Skybox Agreement, and (ii) payments from any other source generated as a result of the Chargers’ use and occupancy of the Stadium including, without limitation, any payments received in connection with a concession agreement or extension or amendment thereto entered into subsequent to the date of this Supplement Number Eight. The Chargers hereby acknowledge and agree that the Chargers are subject to the terms of the Concession Agreement. The City shall not amend the economic terms of the Concession Agreement in any material respect without first obtaining the agreement of the Chargers. The City shall use commercially reasonable efforts in negotiating any new concession agreement or any extension or amendment thereto relating to the Stadium or Stadium Premises, which is entered into by the City after the date of this Supplement Number Eight, to maximize concession revenues at the Stadium and to obtain economic terms which are no less favorable to the Chargers (as a third party beneficiary thereof) than those in effect during the last full Regular Football Season under the agreement or agreements in place immediately preceding the effective date of such new agreement, amendment or extension. Notwithstanding the preceding sentence, the City does not guarantee any such economic terms for the Chargers. In particular, the City may elect to have the concessionaire provide equipment or otherwise contribute funds to be used at the Stadium which may decrease concession revenue for the Chargers and other users of the Stadium. In no event shall the City treat the Chargers differently than any other tenant or event sponsor (including the City) at the Stadium with respect to the allocation of concession revenue. The Chargers hereby acknowledge and agree that amounts received by the Chargers from any advertiser that relate to the 2003 Regular Football Season shall be governed by the existing Signage Agreement, as amended. The City acknowledges that the Chargers shall be entitled to retain any and all amounts received by the Chargers from any advertiser after March 1, 2004 for signage rights.