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AG 2002 08 19 (Regular)
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AG 2002 08 19 (Regular)
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Last modified
3/2/2006 5:01:40 PM
Creation date
11/27/2017 11:43:52 AM
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Meeting Minutes
Doc Type
Agenda
Meeting Minutes - Date
8/19/2002
Board
Board of Commissioners
Meeting Type
Regular
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shall be made from such account by Ticketmaster and delivered to Principal on Friday of each <br />week with each weekly payment to be on account of TM System Ticket sales for Attractions <br />occurring during the period of Monday through Sunday preceding such payment date. Each <br />weekly payment shall be accompanied by a written accounting. <br /> <br /> (b) In the event that any Attraction is cancelled, postponed, or modified for <br />any reason (each, a "Cancelled Attraction"), the amount of funds held by Ticketmaster on <br />account of Ticket sales for all Attractions ("Account Balance") (but specifically excluding <br />therefrom the amount of Ticket sales proceeds to which Ticketmaster is entitled hereunder) shall <br />be held and made available for distribution by Ticketmaster to Ticket purchasers entitled to <br />refunds for Tickets for Cancelled Attractions purchased from Ticketmaster. In the event that the <br />Account Balance is insufficient to make all such refunds, Principal shall deliver the amount of <br />such deficiency ("Deficiency Amount") to Ticketmaster no later than two business days after <br />notice by Ticketmaster to Principal. Ticketmaster shall also have the right to setoff any <br />Deficiency Amount against any amounts held by Ticketmaster on behalf of Principal. It is agreed <br />and understood that Ticketmaster is the Ticket selling agent of Principal and therefore <br />Ticketmaster's agreement to make any refunds as the agent of Principal is subject and limited to <br />Ticketmaster holding or receiving from Principal the full amount of funds necessary to make <br />refunds to all Ticket purchasers properly entitled to a refund. With respect to Cancelled <br />Attractions, subject to Section 11 (a), Principal authorizes Ticketmaster to refund the Ticket price <br />at the original point of purchase (e.g., at Outlets, or by Internet Sales or Telephone Sales), and to <br />exchange Tickets pursuant to any exchange policy which may be adopted by Principal and <br />Ticketmaster. Principal and Ticketmaster agree that Ticketmaster shall be entitled to retain the <br />Ticket Printing Charges, Convenience Charges and Order Processing Fees assessable with <br />respect to the initial sale of Tickets to Cancelled Attractions although no additional compensation <br />shall be payable to, or fee assessed by, Ticketmaster with respect to the exchange of any Tickets <br />initially purchased from Ticketmaster. Principal shall be responsible for all refunds and <br />exchanges of Tickets initially purchased at the Facility Box Office. <br /> <br /> (c) .It is agreed and understood that Ticketmaster shall not be liable to <br />Principal for the printing and sale of counterfeit Tickets. <br /> <br />12. Taxes. <br /> <br /> (a) Principal shall keep the Hardware free and clear of all levies, liens and <br />encumbrances which are caused by Principal or under Principal's control and shall promptly <br />reimburse Ticketmaster for all user fees, registration fees, assessments, charges and taxes, <br />whether federal, state, county, municipal or other governmental or quasi-governmental, solely <br />with respect to the Hardware located at the Facility, including, without limitation, use, excise and <br />property taxes, and penalties and interest with respect thereto, except and excluding, however, <br />any taxes based on or measured solely by Ticketmaster's net income. <br /> <br /> (b) Principal shall be responsible for calculating any and all Attraction Taxes, <br />for preparing and timely filing any and all tax returns or reports required to be filed in respect of <br />any such Attraction Taxes, and for timely remitting the Attraction Taxes to the appropriate taxing <br />authority. Ticketmaster will collect the Face Value of each Ticket and turn over to Principal the <br />Ticket Receipts to which it is entitled as provided in Section 11. In the event that Ticketmaster <br />pays any Attraction Taxes .on behalf of Principal, Principal shall promptly reimburse <br /> <br />C:\WINDOWSLDesktop\Cabarms Arena LUA Final 081702.doc <br /> <br /> <br />
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