7.3 MAG Suspension

If at any time during the term of the Agreement there is a Severe Decline in Enplaned Passengers for three consecutive months, then the MAG shall be suspended temporarily as follows:

• A.The MAG suspension shall be effective on the first day of the first month immediately following the Severe Decline in Enplaned Passengers for three (3) consecutive months.
• B.During such MAG suspension period, Concessionaire shall be required to pay only the Percentage Payment, unless and until the MAG is reinstated as provided below.

7.4 MAG Reinstatement

Once there is Enplaned Passenger Stabilization for two (2) consecutive months, the MAG shall be reinstated, and will continue unless and until there is another Severe Decline in Enplaned Passengers for three (3) consecutive months, as follows:

• A.Such MAG reinstatement will be effective on the first day of the month following an Enplaned Passenger Stabilization for two consecutive months.
• B.In the event the MAG is reinstated after the commencement of an Agreement Year, or other length of time for annual gross revenue accumulation, specified in the Agreement (i.e., a new MAG is established for that Agreement Year), the MAG will be pro-rated accordingly.

7.5 Percentage Payment

The percentage payment shall be the sum of (i) twelve percent (12%) of gross revenues which Concessionaire must pay from the sale of food and non-alcoholic beverages, and (ii) fifteen percent (15%) for merchandise.

7.6 Monthly Statements and Fee Payments

Concessionaire shall submit to the Airport by the 20th day of the second month of the Term hereof, and each succeeding month of the Term hereof, an accurate statement of Gross Revenues of the preceding month, and simultaneously therewith shall pay Airport an amount by which the Percentage Payment of the preceding month exceeds one-twelfth (1/12) of the MAG. This statement shall be certified by a manager properly authorized to certify the statement on behalf of Concessionaire.

If, at the end of each Agreement Year of the Term, the aggregate payments made shall exceed the greater of the MAG or the Percentage Payment during such Agreement Year, the excess balance shall be credited to Concessionaire's account and applied against the next succeeding monthly payment as determined by the reconciliation of concession fee payments, defined in Article 9. Upon expiration of this Agreement, any credit balance due shall be reimbursed to Concessionaire.

7.7 Commencement of MAG and Fee Payments

In exchange for Concessionaire's completion of Authority's Improvements and Concessionaire's Improvements, required in Article 15.3 and Article 15.5, respectively herein, and the

Lease/Concession Agreement – MITCHELL MANAGEMENT

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