Operating Funding Clause Samples
Operating Funding. The Authority and the Manager, as the Authority’s agent, shall pay all Direct Operating Costs in the Annual Budget. Such funds shall be provided to Manager starting on the Commencement Date and daily thereafter, based upon the then current balance in the Operating Account. The Authority shall advance to Manager as Working Capital an amount sufficient to make the aggregate balance in the Operating Account equal to but not more than $2,000,000 (said amount to be adjusted annually by the Authority and Manager in connection with the Annual Budget review process); provided, however, that in no event shall said balance be less than $1,000,000 subject to annual adjustment by CPI). Manager shall provide notice to the Authority five business days prior to the date on which any individual disbursement or the aggregate amount of multiple disbursements from the Operating Account are anticipated to exceed $2,000,000 and such notice shall set forth the expected disbursements, including the amount and payees for such disbursements, as well as the date, or range of dates, on which such disbursements are expected to be paid from the Operating Account.
Operating Funding. The Company shall pay on a quarterly basis to Channel 17/Town Meeting Television an amount equal to ONE AND TWO-THIRDS PERCENT (1.66%) of the Company’s Gross Revenue for the Service Territory for the preceding quarter. This payment shall be due and payable no later than forty-five (45) days after the close of the preceding quarter.
Operating Funding. Commencing with the effective date of this Agreement, on or before September 12 of each year, BTCHAMPLAIN BROADBAND shall pay a total of five percent (5%) of its Gross Revenues for the preceding Year to each Burlington AMO, as follows:
a. RETN, the amount equal to one point sixty-six percent (1.66%)
b. Channel 17/ Town Meeting Television, the amount equal to one point sixty- six percent (1.66%), and
c. VCAM, the amount equal to one point sixty-eight percent (1.68%). Point zero two percent of VCAM's portion will be used to support joint BAMO planning efforts and projects. In the event an additional Burlington AMO is established within the System Area during the term of this Agreement, BTCHAMPLAIN BROADBAND may request the Burlington ▇▇▇▇ to renegotiate funding levels.
Operating Funding. The Company shall pay on a quarterly basis to BCTV an amount equal to 5.00% PERCENT of the Company’s Gross Revenue for the Service Territory for the preceding quarter. This payment shall be due and payable no later than forty-five
Operating Funding. The Company shall pay on an annual basis to AMO an amount equal to FIVE (5.00%) PERCENT of the Company’s Gross Revenue for the System for the preceding quarter. This payment shall be due and payable no later than forty-five (45) days after the close of the preceding quarter. Consistent with 47 U.S.C. §542(c), any operating funding payments to AMO will be passed through to Company subscribers as a separate line item on subscriber bills.
Operating Funding. The Town will provide a lump sum payment to the Appomattox County Treasurer on or about July 1 of each year for the following:
1. ▇▇▇▇▇▇▇ for the Sheriff calculated at a rate of 7.5% of the Compensation Board salary plus associated FICA and VRS contributions.
2. Funding for an additional deputy equal to the allocation provided by the Department of Criminal Justice Services through the HB 599 State aid to localities.
3. Additional funding, above the HB 599 allocation, to supplement the funding needed for an entry-level deputy, including salary, FICA, VRS, Life Insurance, and Unemployment Insurance.