35 HRP Maximum

35 HRP Maximum. The HRP Maximum shall mean an amount equal to $400,000 plus (50% x 25% x [Burbank Fees + Georgetown Fees + SJ Hilton Fees]). The HRP Maximum shall not apply to any HRP revenue generated from a termination fee or similar payment resulting from the early termination of any Managed Outlet agreement before its full term. For the purpose of example only, if per Section 8.3 of the Burbank Agreement, the Termination Payment and other early termination payments... were equal to $500,000 ("Early Termination Income") and HRP Income (as defined in Section 3.11 below) excluding the Early Termination Income is $300,000, HRP would receive a total of $800,000 and would not be subject to the HRP Maximum unless the HRP Income excluding the Early Termination Income exceeded the HRP Maximum. View More