Examples of Gross Revenues in a sentence
As compensation for the benefits and privileges granted under this Franchise and in consideration of permission to use the Town's Right-of-Way, Grantee shall within sixty (60) days of the Effective Date of this agreement pay as a Franchise Fee to the Town, throughout the duration of and consistent with this Franchise, an amount equal to five percent (5%) of Grantee's Gross Revenues.
If this Franchise terminates for any reason, the Grantee shall file with the Town within ninety (90) calendar days of the date of the termination, a financial statement, certified by an independent certified public accountant, showing the Gross Revenues received by the Grantee since the end of the previous fiscal year.
For purposes of calculating the interest on any Parity Obligations, interest on such Parity Obligations shall be reduced by any related Subsidy Payments, and such Subsidy Payments will not be included as Gross Revenues for purposes of the coverage calculations set forth in this Section.
In the event the obligation of Grantee to compensate the Town through Franchise Fee payments is lawfully suspended or eliminated, in whole or part, then Grantee shall pay to the Town compensation equivalent to the compensation paid to the Town by other similarly situated users of the Town 's Right-of-Way for Grantee's use of the Town's Right-of-Way, provided that in no event shall such payments exceed the equivalent of five percent (5%) of Grantee's Gross Revenues.
The Grantee shall pay to the Franchising Authority a franchise fee in an amount equal to the maximum amount allowable by FCC regulations, which at the time of the execution of this Agreement is five percent 5% of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area.