Orange County NC Website
IW <br />"Capital Equipment" - any and all furniture, fixtures, machinery or equipment, <br />either additional or replacement, having a per item original cost of or more and <br />an expected useful life or more than one year. <br />"Capital Improvements" - any and all building additions, alterations, renovations, <br />repairs or improvements that have an initial dollar cost of not less than per <br />project. <br />"County" - as defined in the first paragraph of this Agreement. <br />"Contract Administrator" - the designated administrative official of County (as of <br />the date hereof, County Manager) as from time to time <br />appointed by County, or such individual person(s) as may from time to time be authorized in <br />writing by such administrative official to act for him/her with respect to any or all matters <br />pertaining to this Agreement. <br />"Employment Period" - for the Employees (as defined in Section 7.2), the period <br />beginning on and ending months thereafter. <br />"Event Expenses" - any and all expenses incurred or payments made by RFP in <br />connection with the occurrence of events at the Facility, including but not limited to costs for <br />event staffing including ushers, ticket takers, security and other event staff, and costs relating to <br />setup and cleanup. <br />"Facility" - as defined in the first paragraph of the Background section of this <br />Agreement. <br />"Facility Policy Manual" - the policy manual provided by RFP to the County <br />containing certain operating and employment policies customarily utilized by RFP in connection <br />with the management of a public assembly facility such as the Facility, which manual has been <br />marked as last revised on f I. <br />"Fiscal Year" - a one year period beginning July 1 and ending June 30. <br />"Laws" - all federal, state, local and municipal regulations, ordinances, statutes, <br />rules, laws and constitutional provisions. <br />"Losses" - any and all losses, liabilities, claims, damages and expenses (including <br />reasonable attorneys fees and costs). <br />"Management Term" - as defined in Section 3.2 hereof. <br />"Net Operating Loss/Profit" - with respect to a Fiscal Year, the excess, if any, of <br />Operating Expenses for such Fiscal Year over Operating Revenues to such Fiscal Year, in the <br />case of a loss, and the excess, if any, of Operating Revenues for such Fiscal Year over Operating <br />Expenses for such Fiscal Year, in the case of a profit. <br />3 <br />