Laserfiche WebLink
.7 <br /> The Variable Fee shall be payable to BCG by the City on the seventh (7th) day of <br /> each month. If the seventh (7th) falls on a weekend or holiday, the payment will <br /> be made on the next business day. The amount payable shall be calculated as a <br /> percentage of the revenue net of sales tax and admissions tax for each category for <br /> the immediately preceding month. BCG shall provide the City with a <br /> reconciliation of the calculation of the Variable Fee by the third (3`d) business day <br /> of each month. <br /> The Variable Fee at W.E. Hall shall be limited in thefollowing manner. When <br /> the sum of the total revenue at W.E. Hall for the three categories listed above at <br /> 15%-85% BCG-City revenue split exceeds $1,200,000 in any calendar year, the <br /> revenue split shall be modified from the 15%-85% revenue split to a 5%-95% <br /> BCG-City revenue split for all revenue above $1,200,000 for the remainder of the <br /> calendar year. <br /> i. Diversion Clause. It is the intention of the parties hereto that the <br /> percentage payments herein mentioned are payable out of the business <br /> revenue that BCG intends to collect from operation of the Facility. That <br /> said business is the principal business in which BCG is engaged with the <br /> City, and BCG covenants and agrees to conduct said principal business <br /> upon or from said Facility during the Term and not to divert it there from <br /> by any device whatsoever which will effect a diminution of the percentage <br /> payments herein stipulated. BCG further agrees, during its normal <br /> business hours during the Term, to conduct a business in the Facility and <br /> to keep same reasonably stocked with merchandise consistent with the <br /> provisions of this Agreement. <br /> C. Concessionaire shall receive a total of four-hundred (400) courtesy rounds of golf <br /> each year. These rounds may be used only for reciprocal privileges for <br /> Concessionaire's employees, members of the Golf Superintendents Association, <br /> and visiting professionals. <br /> Rounds must be accounted through the cash receipt procedures prescribed by the <br /> Park Director and outlined in the City's Internal Control Manual. <br /> These courtesy rounds are limited to weekdays at non-peak hours and shall not <br /> exceed eight (8) rounds on any day. Greens fees shall be paid for additional <br /> rounds in accordance with the approved Fee Schedule. The Golf Course Manager <br /> and Golf Pro staff may be allowed use of courtesy rounds for weekend play. <br /> Permission to exceed the eight (8) rounds per day or four-hundred round (400) per <br /> year limit may be granted by the Park's Director provided a written request is <br /> submitted not less than seven (7) days in advance of the expected usage to the <br /> Park Director or his designee for approval. Separate consideration for Pro-Am <br /> and Super-Am events must also be submitted in writing for approval by the Park <br /> Director or his designee. If approved, rounds played for Pro-Am and Super-Am <br /> will not be counted against Concessionaire's compensation total rounds. <br /> D. IRS Private Activity Rules. The parties undertake this Agreement with the <br /> understanding that it is the City's intent to operate within the private activity <br /> 12 j <br />