Pursuant to the United Use and Lease Agreement, if costs at the New Airport exceed $20 per revenue enplaned passenger, in 1990 dollars, for the preceding calendar year, calculated in accordance with such agreement, United can elect to terminate its Use and Lease Agreement. Such termination by United would not, however, be an event of default under the Lease.
If United causes an event of default under the Lease and the City exercises its remedies there under and accelerates Facilities Rentals, the City is not obligated to relet the Facilities. If the City relets the Facilities, it is not obligated to use any of the payments received to pay principal, premium, if any, or interest on the Bonds.
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What you need to know about… Project Management Made Easy! Project management consists of more than just a large building project and can encompass small projects as well. No matter what the size of your project, you need to have some sort of project management. How you manage your project has everything to do with its outcome.