Common use of Payment for First Three Years Clause in Contracts

Payment for First Three Years. City hereby elects not to exercise its right to place City Announcements on any of Company’s Changeable Message Boards during the first three (3) yearsOperational Years (thirty-sixth months) of their operation.). Accordingly, Company shall pay City, within thirty (30) days of the completion of constructionConstruction Date (as defined herein) of the Relocated Billboards and Changeable Message Boards, the first three (3) years of the Annual Monetary Value for the Changeable Message Boards to be placed on the Relocated Billboards described in Section 2.2 above, which amount is equal to One Hundred and Fifty Thousand and No/100 Dollars ($150,000) for each Changeable Message Board.

Payment for First Three Years. City hereby elects not to exercise its right to place City Announcements on any of Company’s Changeable Message Boards during the first three (3) yearsOperational Operational Years (thirty-sixth months) of their operation.). Accordingly, Company shall pay City, within thirty (30) days of the completion of constructionConstruction Construction Date (as defined herein) of the Relocated Billboards and Changeable Message Boards, the first three (3) years of the Annual Monetary Value for the Changeable Message Boards to be placed on the Relocated Billboards described in Section 2.2 above, which amount is equal to One Hundred and Fifty Thousand and No/100 Dollars ($150,000) for each Changeable Message Board.