arena lease and management agreement city of glendale, arizona ...

SUBSTANTIAL FINAL DRAFT 11/27/12 12:35
(b) The City shall take such actions as are required to cause the payment to
the Arena Manager of an amount not less than the aggregate amount of City Surcharge for each such City
Sponsored Event, except to the extent that the City has waived, pursuant to this Agreement, such fees.
(c) The Arena Manager shall maintain separate records of all Operating
revenues and all Operating expenses directly attributable to each City Sponsored Event, and all amounts
received for deposit and deposited into the City Surcharge Account with respect to each City Sponsored
Event. For clarity, only payments or other considerations to be made or provided that (A) are calculated
solely on the basis of sales made or transactions completed during a City Sponsored Event directly
relating to such City Sponsored Event or (ii) are payable solely because a given City Sponsored Event is
held shall be “directly attributable” to such City Sponsored Event.
(d) The Arena Manager shall, at the time the quarterly financial report for
such Fiscal Quarter is submitted to the parties pursuant to Section 8.1415:
(i) If the aggregate of the Operating Expenses forexpenses
directly attributable to all City Sponsored Events held during a given Fiscal Quarter exceeds the aggregate
of the Operating Revenues for suchrevenue directly attributable to City Sponsored Events, set-off
against any distributions or payments to be made to the City for such Fiscal Quarter the amount by which
the aggregate of such Operating expenses exceeds the aggregate of such Operating revenues and submit
an invoice for the shortfall to the City for reimbursement within 30 days (any such set-off and/or
reimbursed amounts constituting Operating Revenues), or
(ii) If the aggregate of the Operating Revenues for suchrevenues
directly attributable to City Sponsored Events held during a given Fiscal Quarter exceeds the aggregate of
the Operating Expenses for allexpenses directly attributable to City Sponsored Events held during a
given Fiscal Quarter, remit to the City the amount by which the aggregate of such Operating revenues
exceeds the aggregate of such Operating expenses within 30 days after the end of the Fiscal Quarter the
excess of the Operating Revenues over the Operating Expenses.
8.8.38.9.3 Community Events. Subject to the Scheduling Procedures, all
Concessions Agreements, all Advertising Agreements and all Naming Rights Agreements, the City shall
have the non-assignable right to use the Arena Facility, except for the Exclusive Team Spaces, for
Community Events up to foursix times per Fiscal Year.
(a) The Arena Manager and the City shall take such actions as are required
to cause all revenues generated by Community Events to be paid directly to the City, and such revenues
shall not be Operating Revenues.
(b) Prior to the scheduling of a Community Event that is a Fee Activity, the
City shall give the Arena Manager prior to the scheduling of a given Community Event notice of
whether the City elects to waive the City Surcharge with respect to such Community Event the City
Surcharge, and if such notice is not provided it shall be deemed an election by the City not to waive such
fees with respect to that Community Event.
(c) The City shall take such actions as are required to cause the payment to
the Arena Manager of an amount not less than the aggregate City Surcharge for such Community Event,
except to the extent the City has properly waived, pursuant to this Agreement, such fees.
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