Minimum Use Requirement Sample Clauses

Minimum Use Requirement. Company shall average at least four (4) total flights (for the purposes of this subsection (C)(2) a “flight” shall mean an arrival and departure) per Business Day for an Airline Gate Area (hereinafter the “Minimum Use Requirement”). Company’s Minimum Use Requirement for an Airline Gate Area shall be determined by taking the total number of actual flights of Company and its Affiliate’s at the Airline Gate Area for each Business Day during the previous three (3) months and dividing by the total number of Business Days in the applicable three (3) month period. If the average equals or exceeds four (4) flights per Business Day for the Airline Gate Area, then Company has satisfied its Minimum Use Requirement for the applicable Airline Gate Area. If the Board requires the Company to divert a flight from an Airline Gate Area that flight shall be credited toward the originally intended Airline Gate Area prior to its diversion for purposes of satisfying the Minimum Use Requirement. Flights at another gate at the Airport shall not be used in any manner in determining whether Company has satisfied its Minimum Use Requirement for an Airline Gate Area and flights shall not be diverted from other gates at the Airport for the purpose of satisfying the Minimum Use Requirement for an Airline Gate Area. Notwithstanding anything contained herein to the contrary, events that are beyond the reasonable control of Company, including but not limited to events caused by acts of God, war, riots, floods, explosions, fires, earthquakes, strikes, terrorism, or labor disputes which prevent Company from complying with the Minimum Use Requirement shall be considered a hardship and shall excuse Company’s compliance during the days of such hardship up to a period of sixty (60) days. In the event that the actual use by Company of an Airline Gate Area shall fall below the Minimum Use Requirement, the Board may elect to cancel preferential rights with respect to that Airline Gate Area by serving written notice to Company. Such cancellation shall be at the Board’s option. Such cancellation shall be effective thirty (30) days after the date the Board serves notice to Company. In the event that preferential use rights with respect to an Airline Gate Area are canceled pursuant to this subsection (C)(2), because of Company’s failure to meet the Minimum Use Requirement, Company and its Affiliates shall still be entitled to use the Airline Gate Area, but the use of the Airline Gate Area shall be gov...
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Minimum Use Requirement. As depicted on Exhibit G, the Minimum Use Requirement shall initially be an average minimum use level of five (5) daily Turns or 625 daily Seats Delivered per Preferential Use Gate. In consultation with the Signatory Airlines prior to July 1 of each year, City reserves the right to modify the Minimum Use Requirement which will take effect on July 1 of each Fiscal Year, as needed, either upward or downward, to balance the utilization of Domestic and International terminal areas to reflect changing conditions and activity levels. City shall prepare and provide to Airline a revised Exhibit G, reflecting the Minimum Use Requirement.
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Minimum Use Requirement. If Customer fails to meet the minimum use requirements as defined above, COOPERATIVE shall, in its sole discretion, replace the Equipment with more compatible equipment or remove the Equipment from Customer's property and immediately terminate this Agreement.
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Related to Minimum Use Requirement

  • W-9 Requirement Alongside a signed copy of this Agreement, Grantee will provide Florida Housing with a properly completed Internal Revenue Service (“IRS”) Form W-9. The purpose of the W-9 form is to document the SS# or FEIN# per the IRS. Note: W-9s submitted for any other entity name other than the Grantee’s will not be accepted.

  • Minimum Vendor License Requirements Vendor shall maintain, in current status, all federal, state, and local licenses, bonds and permits required for the operation of the business conducted by Vendor. Vendor shall remain fully informed of and in compliance with all ordinances and regulations pertaining to the lawful provision of goods or services under the TIPS Agreement. TIPS and TIPS Members reserve the right to stop work and/or cancel a TIPS Sale or terminate this or any TIPS Sale Supplemental Agreement involving Vendor if Vendor’s license(s) required to perform under this Agreement or under the specific TIPS Sale have expired, lapsed, are suspended or terminated subject to a 30‐day cure period unless prohibited by applicable statue or regulation.

  • Minimum Balance Requirements To be a member and maintain Accounts with Us You must purchase 1 share in the Credit Union. The par value of a share in this Credit Union is $5.00. If the balance in Your primary share Account drops below 1 share ($5.00), at any time, We may, at Our option, close Your Account. Nonsufficient Funds Returns. Any share draft or pre-authorized transfer, or transaction made through the use of a debit card, or other electronic means, as is applicable (including any in-person transaction), that is presented to Us for payment on Your Account when Your Account lacks sufficient collected funds to pay any such item may, at Our option, be returned for nonsufficient funds or We may honor any such item and charge You a fee for doing so. Overdraft Balance Calculation. When processing transactions that debit or credit Your Account, We start each Business Day with Your final Account balance from the preceding Business Day. The final balance takes into account all of the debit and credit transactions that were settled that Business Day pursuant to Our Funds Availability Policy, as well as any other debits or credits to Your Account that were finally settled that day, as described above in the "Deposit of Items" and "Collection and Processing of Items" sections of the Account Agreement. This starting balance at the beginning of a Business Day (the preceding Business Day's final balance) is sometimes referred to as Your "actual balance."

  • Minimum Requirements Consultant shall, at its expense, procure and maintain for the duration of the Agreement insurance against claims for injuries to persons or damages to property which may arise from or in connection with the performance of the Agreement by the Consultant, its agents, representatives, employees or subconsultants. Consultant shall also require all of its subconsultants to procure and maintain the same insurance for the duration of the Agreement. Such insurance shall meet at least the following minimum levels of coverage:

  • Coverage Minimum Requirement Commercial General Liability Insurance, including Bodily Injury, Personal Injury, Property Damage, Advertising Injury, and Medical Payments Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Automobile Liability Insurance - Any Auto Each Occurrence General Aggregate $ 1,000,000 $ 2,000,000 Professional Liability $ 1,000,000 Workers Compensation Statutory Limits Employer’s Liability $ 1,000,000