CCP 01-27-1997 - Laserfiche WebLink

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-- - - IV. DEFINITIONS. As used herein, the following terms shall mean: . -. A. Prime Time means the period from October 1 - March 15. B. Non-Prime Time means all other periods of the year not defined as prime time. . C. Regular Hourly Rate means the rental rate of ice time at the National Sports Ice Arena that will be established annually by the Joint Board. . D. Joint Board means the board of directors for the National Sports Center Ice Arena as defined by the Master . Agreement. E. User Group Committee means a committee consisting of one representative from each of the cities in SAMN and the . COUNTY and one representative from each of the HOCKEY ASSOCIATIONS. F. Master Agreement means the agreement titled "National . Sports Center Ice Arena Master Agreement" dated the _ day of , 1997, and incorporated I herein as Exhibit A. V. TERMS AND CONDITIONS. In consideration of the mutual undertakings herein expressed and in consideration of the -' obligations assumed by SAMN and the COUNTY pursuant to the Master Agreement, the parties agree as follows: A. Term. This agreement shall be effective as of the date . set forth above, and shall terminate on the day on which the financial obligations of SAMN and the COUNTY are satisfied pursuant to the Master Agreement. I B. Financina. 1. Down Pavment. COUNTY agrees to contribute the . $500,000 down payment to the Minnesota Amateur Sports Commission (MASC) on behalf of SAMN for I construction of the National Sports Center Ice Arena in accordance with the Master Agreement provided that the SAMN guarantees the annual purchase of 1,000 hours of ice time at COUNTY I arenas between October 1 and March 15, including at least 16 hours per weekend. 2. Ice Time Obliaations. To insure that SAMN meets . their annual financial obligations to purchase 2080 hours of ice time per year at the National Sports Center facility pursuant to the Master Agreement . 2 .. .