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

- - -ANNUAL SUPPORT FOR PEG ACCESS. (a) The Licensee shall provide funding to the Issuing Authority and/or its designee(s) for PEG Access purposes in the amount of four and one-half percent (4.5%) of the Licensee’s Gross Annual Revenues. (b) Said PEG Access funding shall commence accruing on March 1, 2005 for the period the period of March 1 to March 31, 2005 and due May 15, 2005. PEG Access funding shall be paid on a quarterly basis for the first three (3) years and thereafter on a semi-annual basis by the Licensee as follows: Due Date – 2005 to 2008 Quarter May 15th January 1 - March 31 August 15th April 1 - June 30 November 15th July 1 - September 30 February 15th October 1 - December 31 Due Date – 2008 to 2014 Time Period August 15th January 1 - June 30 February 15th July 1 - December 31 The final payment is due for the period July 1, 2014 to expiration forty-five (45) days after expiration. (c) On or before Sixty (60) days from the Effective Date of this Renewal License, the Licensee shall make a one-time advanced PEG Access payment in the amount of Twenty Thousand Dollars ($20,000) to the Issuing Authority or its designee(s). This payment will be credited against future PEG Access payments as follows: Six Thousand, Six Hundred Sixty Six Dollars ($6,666) against the quarterly payment due on August 15, 2005, Six Thousand, Six Hundred Sixty Six Dollars ($6,666) against the quarterly payment due on November 15, 2005, Six Thousand, Six Hundred Sixty Seven Dollars ($6,667) against the quarterly payment due on February 15, 2006. (d) There shall be no charge to the Town, its PEG Access designee(s) or PEG Access Users for said PEG Access annual funding. (e) The Licensee shall file with each of the payments pursuant to paragraphs (c) above a statement certified by a duly authorized financial representative of the Licensee documenting, in reasonable detail, the total Gross Annual Revenue as defined in Section 1.1(20). (f) In the event that the payments required herein are not tendered on or before the dates fixed herein, interest due on such payments accrue from thirty (30) days past the date due at two percent (2%) above the Prime Rate.

- - -ANNUAL SUPPORT FOR PEG ACCESS. (a) The Licensee shall provide funding to the Issuing Authority and/or its designee(s) for PEG Access purposes in purposes, as follows: (a) Commencing on October 1, 2004, the amount Licensee shall provide annual funding to the Town and/or the Town’s designee, as follows: October 1, 2004 - September 30, 2005. 4.0% of four and one-half percent (the Licensee’s Gross Annual Revenues October 1, 2005 - September 30, 2006.......... 4.25 % of the Licensee’s Gross Annual Revenues October 1, 2006 - End of the Renewal License 4.5%) % of the Licensee’s Gross Annual Revenues. (b) Said PEG Access funding shall commence accruing on March 1, 2005 for the period the period of March 1 to March 31, 2005 and due May 15, 2005. PEG Access funding payments shall be made paid on a quarterly basis for the first three (3) years and thereafter on a semi-annual basis by the Licensee as follows: Due Date – 2005 to 2008 Quarter February 15th October 1 - December 31 May 15th January 1 - March 31 30 August 15th April 1 - June 30 November 15th July 1 - September 30 February 15th October 1 - December 31 Due Date – 2008 to 2014 Time Period August 15th January 1 - June 30 February 15th July 1 - December 31 The final payment is due for the period July 1, 2014 to expiration forty-five (45) days after expiration.30 (c) On or before Sixty (60) days from the Effective Date of this Renewal LicenseAugust 1, 2004, the Licensee shall make a one-time time, advanced PEG Access payment in the amount of Twenty Thousand Dollars ($20,000) to the Issuing Authority or its designee(s). This payment will be credited against future PEG Access payments as follows: Six Thousand, Six Hundred Sixty Six Ten Thousand Dollars ($6,666) against the quarterly payment due on August 15, 2005, Six Thousand, Six Hundred Sixty Six Dollars ($6,666) against the quarterly payment due on November 15, 2005, Six Thousand, Six Hundred Sixty Seven Dollars ($6,66710,000) against the quarterly payment due on February 15, 20062005 and Ten Thousand Dollars ($10,000) against the quarterly payment due on May 15, 2005. (d) The Licensee agrees to meet with the Issuing Authority or its designee(s) in order to facilitate and expedite the transition of the studio operation to the Access Corporation. (e) There shall be no charge to the Town, its PEG Access designee(s) or PEG Access Users for said PEG Access annual funding. (ef) The Licensee shall file with each of the payments pursuant to paragraphs (c) above a statement certified by a duly authorized financial representative of the Licensee documenting, in reasonable detail, the total Gross Annual Revenue as defined in Section 1.1(20). (f) In the event that the payments required herein are not tendered on or before the dates fixed herein, interest due on such payments accrue from thirty (30) days past the date due at two percent (2%) above the Prime Rate.paragraphs

- - -ANNUAL SUPPORT FOR PEG ACCESS. (a) The Licensee shall provide annual funding for (paid as described in Section 6.5(b) below) to the Issuing Authority and/or its designee(s) for PEG Access purposes in the amount of four and one-half percent (4.5%4½%) of the Licensee’s 's Gross Annual Revenues. From said four and one-half percent (4½%) payment of Gross Annual Revenues, the Issuing Authority shall provide minimum annual funding (paid on the same quarterly/semi-annual basis, respectively) of four percent (4%) of said Gross Annual Revenues to the Access Corporation for PEG Access when said Access Corporation is in legal existence and has a federal tax identification number. The percentage retained by the Town, If any, which may not exceed one-half percent (1/2%) of said Gross Annual Revenues shall be used by the Town for PEG Access. (b) Said PEG Access funding shall commence accruing on March 1April 15, 2005 for the period the period of March 1 April 15 to March 31June 30, 2005 and due May August 15, 2005. PEG Access funding shall be paid on a quarterly basis for the first three (3) years and thereafter on a semi-annual basis by the Licensee as follows: Due Date – 2005 to 2008 Quarter May 15th January 1 - March 31 August 15th April 1 - June 30 November 15th July 1 - September 30 February 15th October 1 - December 31 Due Date – 2008 2009 to 2014 2015 Time Period August 15th January 1 - June 30 February 15th July 1 - December 31 The final payment is due for the period July January 1, 2014 2015 to expiration expiration, forty-five (45) days after expirationexpiration of this Renewal License. (c) On or before Sixty (60) days from the Effective Date of this Renewal LicenseMay 1, 2005, the Licensee shall make a one-time advanced PEG Access payment in the amount of Twenty Eighty Thousand Dollars ($20,00080,000) to the Issuing Authority or its designee(s). This payment will be credited against future PEG Access payments as follows: Six Thousand, Six Hundred Sixty Six Twenty Five Thousand Dollars ($6,66625,000) against the quarterly payment due on August 15, 2005, Six Thousand, Six Hundred Sixty Six Twenty Five Thousand Dollars ($6,66625,000) against the quarterly payment due on November 15, 2005, Six Thousand, Six Hundred Sixty Seven 2005 and Thirty Thousand Dollars ($6,66730,000) against the quarterly payment due on February 15, 2006. (d) There shall be no charge to the Town, its PEG Access designee(s) or PEG Access Users for said PEG Access annual funding. (e) The Licensee shall file with each of the payments pursuant to paragraphs (c) above a statement certified by a duly authorized financial representative of the Licensee documenting, in reasonable detail, the total Gross Annual Revenue as defined in Section 1.1(20). (f) In the event that the payments required herein are not tendered on or before the dates fixed herein, interest due on such payments accrue from thirty (30) days past the date due at two percent (2%) above the Prime Rate.