Orange County NC Website
Browse       Search
Docusign Envelope ID : 177AA06A-30B442FF-A85A-78B5A7C51DBE <br /> Capital Expenditures : All expenditures for building additions , alterations , repairs or <br /> improvements ("Capital Improvements" ) where the cost of such expenditure is greater than <br /> Twenty Thousand Dollars ($20 , 000 . 00 ) per project and for purchases of additional or <br /> replacement FF& E ("Capital Equipment" ) , where the cost of such expenditure is greater <br /> than Five Thousand Dollars ($5 , 000 . 00 ) and the depreciable life of the applicable item in <br /> either case is , according to generally accepted accounting principles in the U . S . , in excess <br /> of five (5 ) years . <br /> Concession Revenue : All revenue accounted for through the sale of food and <br /> beverage or food and beverage vendor contracts . Sponsorships , commissions and rebates <br /> provided from vendors are not included as concession revenue . These items will be <br /> accounted for as Commercial Rights . <br /> Commercial Rights : Naming rights , pouring rights , advertising , sponsorships , the <br /> branding of food and beverage products for resale and memorial gifts at or with respect to <br /> the Facility. <br /> Disbursement Account : A separate account in the name of Manager at a licensed <br /> bank through which all Facility staff and other personnel employed by Manager ( including <br /> related payroll taxes ) , or engaged by Manager as independent contractors , and debt service <br /> are paid . Generally, funds are transferred into the Disbursement Account from the depository <br /> account(s ) via bi-weekly requests from the General Manager to Owner. <br /> Early Termination Fee : Has the meaning ascribed in Section 4 . 3 (a ) . <br /> Emergency Repair : The repair of a condition which , if not performed immediately, <br /> creates an imminent danger of death or substantial harm to persons or property or an <br /> unsafe condition at the Facility threatening imminent danger of death or substantial harm <br /> persons or property . <br /> Event of Force Majeure : An act of God , fire , earthquake , hurricane , flood , riot , civil <br /> commotion , terrorist act , terrorist threat , storm , washout , wind , lightning , landslide , explosion , <br /> epidemic or pandemic , inability to obtain materials or supplies , accident to machinery or <br /> equipment , any law , ordinance , rule , regulation , or order of any public or military authority <br /> stemming from the existence of economic or energy controls , hostilities or war, a labor dispute <br /> which results in a strike or work stoppage affecting the Facility or services described in this <br /> Agreement , or any other cause or occurrence outside the reasonable control of the party <br /> claiming an inability to perform and which by the exercise of due diligence could not be <br /> reasonably prevented or overcome . <br /> Existing Contracts : Service contracts , revenue generating contracts , and other <br /> agreements relating to the day-to -day operation of the Facility existing as of the Effective <br /> Date . <br /> Facility Policy Manual : The Owner-approved policy manual provided by Manager <br /> to the Owner, and updated from time to time , containing certain operating and employment <br />