Common use of Service Revenue Clause in Contracts

Service Revenue. CITY and CONTRACTOR covenant and agree that service revenue collected at the time of service shall be collected through a separate payment processor subaccount to be held in trust by the CONTRACTOR for the benefit of the CITY’s On-Demand Rideshare Project. CONTRACTOR shall provide monthly statements detailing how much service revenue was collected for the month, how the service revenue is being applied to the project and any expenditures made, and providing the remaining balance of the subaccount. During the term of the Fourth Renewal and Modification, the following distributions shall be made: 100% of all service revenue collected shall be retained by the CONTRACTOR and used as a funding source for the Initial Contract Amount in Section II.A. Service revenue shall be applied towards Contractor fees, defined in Exhibit “A” Section 3, on a monthly basis. Provided however, CITY shall have final determination on how the service revenue is used. Service revenue collected and retained by the CONTRACTOR shall not be used or distributed without written approval of the City Manager or his designee. CONTRACTOR estimates that it will collect Nine Hundred Thirty Nine Thousand Eight Hundred and Two Dollars ($939,802) in service revenue during the 12-month term of this Fourth Renewal and Modification, which will be retained by the CONTRACTOR for the purposes of growing the On-Demand Rideshare Project. Neither CITY nor CONTRACTOR shall be responsible or liable for any difference between the estimated service revenue and the actual service revenue collected. At the expiration or earlier termination of the Contract and any renewals, any unspent service revenue remaining with the CONTRACTOR shall be distributed to the CITY. Beginning on March 21, 2022, the following distributions shall be made specifically for RAPID: 100% of all service revenue collected for RAPID shall be retained by the CONTRACTOR and used as a funding source for the Initial Contract Amount in Section II.A. Service revenue shall be applied towards Contractor fees, defined in Exhibit “A” Section 3, on a monthly basis.

Service Revenue. CITY and CONTRACTOR covenant and agree that service revenue collected at the time of service shall be collected by the CONTRACTOR through a separate payment processor subaccount to be held in trust by the CONTRACTOR for the benefit of the CITY’s On-Demand Rideshare Project. CONTRACTOR shall provide monthly statements detailing how much service revenue was collected for the month, how the service revenue is being applied to the project and any expenditures made, and providing the remaining balance of the subaccount. During the term of the Fourth Second Renewal and Modification, the following distributions shall be made: 100% of all service revenue collected shall be retained by the CONTRACTOR and used as a funding source for the Initial Contract Amount in Section II.A. Service revenue shall be applied towards Contractor fees, defined in Exhibit “A” Section 3, on a monthly basis. Provided however, CITY shall have final determination on how the service revenue is used. Service revenue collected and retained by the CONTRACTOR shall not be used or distributed without written approval of the City Manager or his designee. CONTRACTOR estimates that it will collect Nine Six Hundred Thirty Nine Sixty-Seven Thousand Eight One Hundred and Two Thirty-Six Dollars ($939,802667,136) in service revenue during the 12-month term of this Fourth Second Renewal and Modification, which will be retained by the CONTRACTOR for the purposes of growing the On-Demand Rideshare Project. Neither CITY nor CONTRACTOR shall be responsible or liable for any difference between the estimated service revenue and the actual service revenue collected. At the expiration or earlier termination of the Contract and any renewals, any unspent service revenue remaining with the CONTRACTOR shall be distributed to the CITY. Beginning on March 21, 2022, the following distributions shall be made specifically for RAPID: 100% of all service revenue collected for RAPID shall be retained by the CONTRACTOR and used as a funding source for the Initial Contract Amount in Section II.A. Service revenue shall be applied towards Contractor fees, defined in Exhibit “A” Section 3, on a monthly basis.

Service Revenue. CITY and CONTRACTOR covenant and agree that service revenue collected at the time of service shall be collected through a separate payment processor subaccount to be held in trust by the CONTRACTOR for the benefit of the CITY’s On-Demand Rideshare Project. CONTRACTOR shall provide monthly statements detailing how much service revenue was collected for the month, how the service revenue is being applied to the project and any expenditures made, and providing the remaining balance of the subaccount. During the term of the Fourth Third Renewal and Modification, the following distributions shall be made: 100% of all service revenue collected shall be retained by the CONTRACTOR and used as a funding source for the Initial Contract Amount in Section II.A. Service revenue shall be applied towards Contractor fees, defined in Exhibit “A” Section 3, on a monthly basis. Provided however, CITY shall have final determination on how the service revenue is used. Service revenue collected and retained by the CONTRACTOR shall not be used or distributed without written approval of the City Manager or his designee. CONTRACTOR estimates that it will collect Nine Hundred Thirty Nine Thousand Eight Hundred and Two One Dollars ($939,802939,801) in service revenue during the 12-month term of this Fourth Third Renewal and Modification, which will be retained by the CONTRACTOR for the purposes of growing the On-Demand Rideshare Project. Neither CITY nor CONTRACTOR shall be responsible or liable for any difference between the estimated service revenue and the actual service revenue collected. At the expiration or earlier termination of the Contract and any renewals, any unspent service revenue remaining with the CONTRACTOR shall be distributed to the CITY. Beginning on March 21, 2022, the following distributions shall be made specifically for RAPID: 100% of all service revenue collected for RAPID shall be retained by the CONTRACTOR and used as a funding source for the Initial Contract Amount in Section II.A. Service revenue shall be applied towards Contractor fees, defined in Exhibit “A” Section 3, on a monthly basis.