Common use of - - -ANNUAL SUPPORT FOR PEG ACCESS Clause in Contracts

- - -ANNUAL SUPPORT FOR PEG ACCESS. (a) For Years One through Five of the Final License, the Licensee shall provide an annual payment to the Issuing Authority, or if the Issuing Authority shall so designate and apportion, to an Access Corporation (pursuant to Section 6.9), for PEG Access and related purposes, equal to five percent (5%) of the Licensee's Gross Annual Revenues, 1300 1305 1310 1315 1320 1325 1330 1335 1340 1345 as defined herein, or a minimum of Fifty Thousand Dollars ($50,000.00), whichever amount is greater. (i) Said annual five percent (5%) or minimum $50,000.00 payment shall be made to the Issuing Authority on an annual basis. (ii) The first payment to the Issuing Authority under the Final License shall be made within thirty (30) days of the end of Year One of the Final License, and shall constitute five percent (5%) of the Licensee's Gross Annual Revenues for the preceding twelve month period, or $50,000.00, whichever amount is greater. (iii) The Licensee shall file with each such annual payment a statement certified by the Licensee's chief financial officer documenting, in reasonable detail, the total of all Gross Annual Revenues of the Licensee during the preceding twelve (12) month period. Along with such statement, the Licensee shall also complete and submit the Gross Annual Revenues Reporting Form, attached hereto as Exhibit 6. Payments for Years Two through Nine, inclusive, shall be made within thirty (30) days of the end of each respective year. (b) At the end of Year Five of the Final License, the Issuing Authority and the Licensee shall conduct an accounting of the amounts, pursuant to paragraph (a) above, paid to the Issuing Authority, in order to determine the actual amount that the Issuing Authority would have received from the Licensee had the Licensee’s payments to the Issuing Authority been five percent (5%) of its Gross Annual Revenues. In the event that the Licensee has paid the Issuing Authority in excess of five percent (5%) of its Gross Annual Revenues for Year One through the end of Year Five, any excess amount above five percent (5%) for said years will be averaged over the remaining Final License term and credited against the five percent (5%) Gross Annual Revenues payments made to the Issuing Authority at the end of Year Six through the end of Year Ten. Notwithstanding the foregoing or anything else in the Final License, no funding received by the Town for the first five (5) years under the provisions of this Section 6.3 shall be required to be paid back to the Licensee and/or any other entity. (c) For Years Six through Ten, the Licensee shall provide an annual payment to the Issuing Authority, for PEG Access and related purposes, equal to five percent (5%) of the Licensee's Gross Annual Revenues, as defined herein, subject to paragraph (b) above. Last payment to the Issuing Authority pursuant to the Final License shall be made not later than fourteen (14) days prior to expiration of the Final License; provided, however, that the Licensee shall provide a final accounting and appropriate adjustment of said Year Ten payment no later than thirty (30) days after expiration of the Final License. (i) If the Licensee's total annual payment to the Issuing Authority was less than five percent (5%) of its Gross Annual Revenues for the previous year, it shall pay any balance due to the Issuing Authority no later than its subsequent annual payment. Said statement shall list all of the general categories comprising Gross Annual Revenues as defined in Section 1.1(22) supra. 1350 1355 1360 1365 1370 1375 1380 1385 (d) Consistent with Section 622(h) of the Cable Act, any Person, including a Leased Access User, who or which distributes any Service over the Cable System for which charges are assessed to Subscribers but not received by the Licensee, shall pay the Issuing Authority an amount equal to five percent (5%) of such Person's Gross Annual Revenues. The Licensee shall notify any such Person of this 5% payment requirement and shall notify the Issuing Authority of such use of the Cable System by such Person(s). (e) In the event that the payments required herein are not tendered on or before the dates fixed herein, interest due on such payments shall accrue from the date due at the rate of three percent (3%) above the Prime Rate.

- - -ANNUAL SUPPORT FOR PEG ACCESS. (a) For Years One through Five of the Final License, the Licensee shall provide an annual payment to the Issuing Authority, or if the Issuing Authority shall so designate and apportion, to an Access Corporation (pursuant to Section 6.9), for PEG Access and related purposes, equal to five percent (5%) of the Licensee's Gross Annual Revenues, 1300 1305 1310 1315 1320 1325 1330 1335 1340 1345 as defined herein, or a minimum of Fifty Thousand Dollars ($50,000.00), whichever amount is greater. (i) Said annual five percent (5%) or minimum $50,000.00 payment shall be made to the Issuing Authority on an annual basis. (ii) The first payment to the Issuing Authority under the Final License shall be made within thirty (30) days of the end of Year One of the Final License, and shall constitute five percent (5%) of the Licensee's Gross Annual Revenues for the preceding twelve month period, or $50,000.00, whichever amount is greater. (iii) The Licensee shall file with each such annual payment a statement certified by the Licensee's chief financial officer documenting, in reasonable detail, the total of all Gross Annual Revenues of the Licensee during the preceding twelve (12) month period. Along with such statement, the Licensee shall also complete and submit the Gross Annual Revenues Reporting Form, attached hereto as Exhibit 6. Payments for Years Two through Nine, inclusive, shall be made within thirty (30) days of the end of each respective year. (b) At the end of Year Five of the Final License, the Issuing Authority and the Licensee shall conduct an accounting of the amounts, pursuant to paragraph (a) above, paid to the Issuing Authority, in order to determine the actual amount that the Issuing Authority would have received from the Licensee had the Licensee’s LicenseeÆs payments to the Issuing Authority been five percent (5%) of its Gross Annual Revenues. In the event that the Licensee has paid the Issuing Authority in excess of five percent (5%) of its Gross Annual Revenues for Year One through the end of Year Five, any excess amount above five percent (5%) for said years will be averaged over the remaining Final License term and credited against the five percent (5%) Gross Annual Revenues payments made to the Issuing Authority at the end of Year Six through the end of Year Ten. Notwithstanding the foregoing or anything else in the Final License, no funding received by the Town for the first five (5) years under the provisions of this Section 6.3 shall be required to be paid back to the Licensee and/or any other entity. (c) For Years Six through Ten, the Licensee shall provide an annual payment to the Issuing Authority, for PEG Access and related purposes, equal to five percent (5%) of the Licensee's Gross Annual Revenues, as defined herein, subject to paragraph (b) above. Last payment to the Issuing Authority pursuant to the Final License shall be made not later than fourteen (14) days prior to expiration of the Final License; provided, however, that the Licensee shall provide a final accounting and appropriate adjustment of said Year Ten payment no later than thirty (30) days after expiration of the Final License. (i) If the Licensee's total annual payment to the Issuing Authority was less than five percent (5%) of its Gross Annual Revenues for the previous year, it shall pay any balance due to the Issuing Authority no later than its subsequent annual payment. Said statement shall list all of the general categories comprising Gross Annual Revenues as defined in Section 1.1(22) supra. 1350 1355 1360 1365 1370 1375 1380 1385. (d) Consistent with Section 622(h) of the Cable Act, any Person, including a Leased Access User, who or which distributes any Service over the Cable System for which charges are assessed to Subscribers but not received by the Licensee, shall pay the Issuing Authority an amount equal to five percent (5%) of such Person's Gross Annual Revenues. The Licensee shall notify any such Person of this 5% payment requirement and shall notify the Issuing Authority of such use of the Cable System by such Person(s). (e) In the event that the payments required herein are not tendered on or before the dates fixed herein, interest due on such payments shall accrue from the date due at the rate of three percent (3%) above the Prime Rate.