AG 2016 11 21 - Laserfiche WebLink

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ing revenues, revenues generated from separate agreements with SMG Affiliates pertaining to the Facility, and interest revenues, all as determined in accordance with generally accepted ac- counting principles and recognized on a full accrual basis. The parties acknowledge that reve- nues from the sale of tickets for events at the Facility are not Operating Revenues, but are instead revenues of the promoter and/or performer of each such event. To the extent that SMG collects such ticket sale revenue on behalf of such promoter and /or performer, such ticket sale revenue shall be the source of fiends from which SMG collects the rental charges and other event reim- bursements due by such promoter and /or performer for use of the Facility, which such charges and reimbursements are Operating Revenues hereunder. "Operating Revenue Benchmark" — shall equal One Million Thirty -Five Thou- sand Dollars ($1,035,000) for the first kill Fiscal Year of the Management Term, subject to ad- justment for material changes in the manner in which SMG operates food and beverage products at the Facility, if such changes are agreed upon by the parties hereto. The Operating Revenue Benclunark shall automatically adjust on the first day of each subsequent Fiscal Year to equal the amount of three (3) year average of the total Operating Revenues for the previous three Fiscal Years (and the parties agree to take into consideration any agreed upon adjustments relative to material changes in the food and beverage operations of the Facility). "Person"— any individual, general partnership, limited partnership, limited liabil- ity partnership, partnership, corporation, joint venture, trust, business trust, limited liability com- pany, cooperative, or association, and the successors and assigns of any of the foregoing and, unless the context otherwise requires, the singular shall include the phial, and the masculine gender shall include the feminine and the neuter, and vice versa. "Pre- existing Agreement" — each contract, license, agreement, option, lease and commitment existing as of the date of this Agreement that grants any Person any right (i) to li- cense, use, occupy or rent all or any portion of the Facility, or (ii) to provide services to be used in the management, operation, use, possession, occupation, maintenance, promotion or marketing of all or any portion of the Facility, and that are listed on Exhibit "A" hereto. "Renewal Tenn" — the additional period for which this Agreement may be re- ncwed at the option of the County in accordance with Section 3.2 hereof beyond the Manage- ment Term. "SMG" — as defined in the first paragraph of this Agreement. 2. Engagement of SMG; Scope of Services. 2.1 Engagement (a) General Scope The County hereby engages SMG to promote, operate acid manage the Facility during the Management Term and the Renewal Tenn, if any, upon the terms and conditions hereinafter set forth, and SMG hereby accepts such engagement. 4 Attachment number 1 \n F -9 Page 169