Common use of Operating Profit Clause in Contracts

Operating Profit. 5.4.1 Operator shall retain any Operating Profit in the DPAC operating account until the final Annual Independent Audit has been completed. Operator shall make any distributions of Operating Profit to the City and to itself within ten (10) working days after Operator provides the final Annual Independent Audit to the City in accordance with section 5.7. 5.4.2 Until the Fiscal Year commencing on July 1, 2014, Operating Profit as determined by the final Annual Independent Audit shall be split sixty percent (60%) to Operator (“Operator Share”) and forty percent (40%) to City (“City Share”). 5.4.3 As of July 1, 2014, the City and Operator will split Operating Profit as follows: $ 0 to $2,000,000 40% 60% $2,000,001 to $2,300,000 30% 70% $2,300,001 to $3,000,000 40% 60% $3,000,001 and above 20% 80% By way of example, if for a given Fiscal Year the total Operating Profit is $4,000,000.00 the distribution of Operating Profit share would be as follows: Operating Profit Ranges for $4,000,000 City Share Operator Share $ 0 to $2,000,000 $800,000 $1,200,000 $2,000,001 to $2,300,000 $90,000 $210,000 $2,300,001 to $3,000,000 $280,000 $420,000 $3,000,001 and above $200,000 $800,000

Operating Profit. 5.4.1 Operator shall retain any Operating Profit in the DPAC operating account until the final Annual Independent Audit has been completed. Operator shall make any distributions of Operating Profit to the City and to itself within ten (10) working days after Operator provides the final Annual Independent Audit to the City in accordance with section 5.7. 5.4.2 Until the Fiscal Year commencing on July 1, 2014, Operating Profit as determined by the final Annual Independent Audit shall be split sixty percent (60%) to Operator (“Operator Share”) and forty percent (40%) to City (“City Share”). 5.4.3 As of July 1, 2014, the City and Operator will split Operating Profit as follows: $ 0 to $2,000,000 40% 60% $2,000,001 to $2,300,000 300% 70100% $2,300,001 to $3,000,000 40% 60% $3,000,001 and above 2030% 8070% By way of example, if for a given Fiscal Year the total Operating Profit is $4,000,000.00 the distribution of Operating Profit share would be as follows: Operating Profit Ranges for $4,000,000 City Share Operator Share $ 0 to $2,000,000 $800,000 $1,200,000 $2,000,001 to $2,300,000 $90,000 0 $210,000 300,000 $2,300,001 to $3,000,000 $280,000 $420,000 $3,000,001 and above $200,000 300,000 $800,000700,000