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<br />-- VI',;..J".;:I/ J..-t.,;.U r.-L1.-j O<);)Q::;l;;f :....;,L If&l UUl;l. UJ...J: <br /> I <br /> MASC Additional Ho"rs shall be credited eqllally to the other parties to this - <br /> agreement. When MASC sells Fall and Spring ho"rs, all four sheets are ctediced .~- <br /> eq"ally. <br /> In the event that MASC is able ro rent ke cime for MASC programs in excess I <br /> of the capaeiey of the Facilities, MASC shaH provide for a preference in rentals to ice <br /> rinks owned and operared by Subdivisions and Ramsey County who are a patty ro I <br /> rhis Master Agreement. <br /> 3. Majot contracts fOt ice purchases will be submitted to the Joim Board for <br /> approval. I <br /> 4. MASC wiH provide each pany an estimate of the reconciliation between <br /> G uaranred Remal Income and income actually received and projected to be I <br /> received by year end by December I, or each year. In rhe event chat any party fails to <br /> payor otherwise provide for the paymem of G"aranteed Rental Income as obligared <br /> above, such party will pay the difference between income secured and income I <br /> obligated within 30 days afrer the year end reconciliation of aCCO"nts showing the <br /> deficit is presented to each parry. <br />F, SCHEDULING A1~D PROGRAMMING I <br /> Scheduling and programming policies shall be determined by the Joint Board, except <br />that schedl1ling may not be inconsistenc with rhis Master Ageeemenr. Each parry has sole <br />discretion in scheduling and programming ie's prioriry hours rhat are not inconsisrenr wirh I <br />this Master Agreemenr, <br />G FINANCING OPERATIONS <br />Appropriate books and records represenring the operating revenues and expenses and .. <br />capital assets and liabilities relaring to rhe facility shall be maintained by MASC. The <br />following reserve accOl1nts shall be maintained. <br /> I. Application of Revenues I <br /> The following provisions shall apply ro revenue generared in connection with <br /> the operation of the Facility: I <br /> (a) The general principle of payment in full before l1SO ,hall apply to this <br /> facility and addicional advance payment reql1irements will be determined by <br /> the Joinr Board. For exrended rentals, such prior payment shall be for ,uch I <br /> period ofcime as is derermined pursuant to policies recommended by the <br /> MASC and approved by rhcJoint Board. Any party to this Masrer <br /> Agreemenr may rerain any amounts by which the hourly rcmal rate charged I <br /> by the parry for use of ice rime in rhe Facility exceeds the Guaranteed Hourly <br /> Rate. Norwirhsranding the provision of this paragraph, it is the intent of [he <br /> parries that the obligations referred to in paragraph III.E(b) be enforced afrer I <br /> the end of each f.se.al year and rhat the prepaymen[S referred to in this <br /> paragraph refer only to actual wer fees. <br /> (b) Admission income from events sponsored by rhe parties ,hall accrue I <br /> to the respective parry. <br /> I <br /> 8 .. <br /> I <br />