Permits Allocated for Use of the Garage Clause Samples

Permits Allocated for Use of the Garage. The Village will make available for issuance to 44 Vail a maximum of 101 parking permits for parking on Levels 3, 4 and 5 of the Garage (the “Permits”), in accordance with the following: 1. Prior to July 1, 2026, 44 Vail may purchase up to 101 Permits, but shall have no obligation to purchase all 101 Permits pursuant to this Agreement. 2. Between July 1, 2023 and June 30, 2024, 44 Vail shall purchase no fewer than 25 Permits for parking to be located on Levels 3 and/or 4 of the Garage. 3. Between July 1, 2024 and June 30, 2025, 44 Vail must purchase no fewer than 51 total Permits for parking (not less than 25 Permits for Levels 3 & 4 and not less than 26 Permits for Level 5). 4. Beginning July 1, 2026, 44 Vail must purchase 101 Permits. The Parties agree that the Village will not be required to issue more than 26 Permits for Level 5 of the Garage (“Level 5 Permits”), nor more than 75 Permits for Levels 3 and 4 (collectively) of the Garage (“Level 3 & 4 Permits”), unless the Village decides, at any time and for any reason, in its sole and absolute discretion, to reallocate the location of the parking spaces available for vehicles displaying Permits.

Related to Permits Allocated for Use of the Garage

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