commencement of Concessionaire's operations, granted herein, on or before November 30, 2021, Authority agrees to exclude Concessionaire's obligation to pay MAG Payments and Percentage Payments, required in Article 7.1 and Article 7.5, respectively, for the period of time beginning December 1, 2021, and ending February 28, 2022, after which time said Concessionaire's MAG Payment and Percentage Payment obligations shall resume.
In the event Concessionaire fails to make timely payment of any fees, charges, and payments due and payable in accordance with the terms of this Agreement within fifteen (15) days after same shall become due and payable, interest at the maximum rate allowed by law shall accrue against the delinquent payment from the date due until the date payment is received by Authority. Notwithstanding the foregoing, Authority shall not be prevented from terminating this Agreement for default in the payment of fees, charges, and payments due to Authority pursuant to this Agreement, or from enforcing any other provisions contained herein or implied by law.
In the event Concessionaire delivers a worthless check or draft to Authority in payment of any obligation arising under this Agreement, Concessionaire shall incur a service charge of Twenty Dollars ($20.00) or five percent (5%) of the face amount of such check, whichever is greater; or, if Florida Statute Sec. 832.07 is amended, such other fee as shall be set by said statute.
Concessionaire shall forward all payments required by this Agreement to the following address:
Sarasota Manatee Airport Authority P.O. Box 550064 Tampa, Florida 33655-0064
All other reports, including the Statement of Gross Receipts shall be addressed as indicated in the Article entitled “Notices and Communications” in this Agreement.
To provide security for the fees and charges, and performance required hereunder, Concessionaire shall comply with one of the following two (2) options:
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