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Common use of Franchise Fees Clause in Contracts

Franchise Fees. The Grantee shall pay to the Village a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 3 contracts

Samples: Cable Television Franchise Agreement, Cable Television Franchise Agreement, Cable Television Franchise Agreement

Franchise Fees. The Grantee (a) From the opening of the Restaurant for business until the expiration or termination of this Agreement, Franchisee shall pay Franchisor each month a non-refundable amount of $200.00 per month (hereinafter referred to as the “Monthly Fee”). (b) In addition to the Village Monthly Fee, Franchisee shall pay Franchisor a monthly royalty on certain food items that Franchisor has negotiated deviated pricing, with the royalty rate for each food item set opposite the name of such food item in Exhibit C attached hereto (the “Food Royalty Fee”). (c) In addition to the Monthly Fee and the Food Royalty Fee, Franchisee shall pay Franchisor a monthly royalty on the items set forth in Exhibit D attached hereto (hereinafter referred to as the “Other Royalty Fee”, and with the Monthly Fee and the Food Royalty Fee collectively, the “Franchise Fees”). Currently, the Other Royalty Fee in an amount equal to five is one percent (51%) of annual Gross Revenues received from on all purchases on the operation of the Cable System to provide Cable Service items set forth in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five Exhibit D. (45d) days after the close of each calendar quarter. If mailedFor 2012, the Franchise maximum aggregate amount payable in any month by Franchisee for the Monthly Fee, Food Royalty Fee and Other Royalty Fee shall be considered paid on capped at $1,500 per month (the date it is postmarked“Monthly Cap”). Each Franchise Fee payment shall be accompanied For each subsequent year, the Franchisor may increase the Monthly Cap by a report prepared up to 3% or by a representative the consumer price index for the previous year (as published by the Bureau of Labor Statistics of the Grantee showing United States Department of Labor), whichever is the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Sectiongreater. 5.1.1. The Parties acknowledge that(e) Franchisor has the right, at presentits sole discretion, to amend, update or change the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change items listed in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%)Exhibit C, Exhibit D, and the Village actually proposes to increase the Franchise Fee in exercise Taste of such authorityPhilly order guide, the Village may amend the Franchise Fee percentageat any time. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent Franchisee acknowledges Franchisor’s right to collect the increased Franchise Feefees, rebates, and Grantee marketing allowances from food distributors, food manufacturers, food brokers, or other vendors or suppliers, as well as from Franchisee. Franchisee shall have no claim for offset or a reasonable time (not reduction in fees with respect to be less than ninety (90) days any fees Franchisor may negotiate from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendmentparty.

Appears in 3 contracts

Samples: Franchise Agreement, Franchise Agreement, Franchise Agreement

Franchise Fees. The Grantee shall pay Notwithstanding anything to the Village a contrary in this Agreement or the Existing Franchise Agreement, Franchisor, by execution hereof, agrees that (i) the Continuing Royalty Fee payable pursuant to Section 9.3 of the Existing Franchise Agreement shall be 4% of Franchisee’s prior month’s Gross Room Sales (as defined in the Existing Franchise Agreement) and (ii) until the 60 month anniversary of the Full Conversion Date, the Continuing Royalty Fee otherwise payable by Owner for any Fiscal Year shall be reduced, up to the full amount of any such Continuing Royalty Fee in an amount equal the event of any Deficiency for such Fiscal Year, to five percent (5%) of annual Gross Revenues received from the operation extent of the Cable System Deficiency remaining after reduction of the Basic Fee in accordance with Section 6.01(a). The obligation of Franchisor to provide Cable Service reduce or eliminate its Continuing Royalty Fee in any Fiscal Year is limited to the Franchise Area; providedfull amount of the Deficiency for such Fiscal Year only, however, that Grantee and the Continuing Royalty Fee for any Fiscal Year shall not be compelled to pay reduced as a result of any higher percentage of fees than Deficiency in any other video service providerprior or subsequent Fiscal Year. Owner hereby agrees that, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailedfor any Fiscal Year, the Franchise combined obligation of Franchisor and Manager to reduce their respective fees as set forth in this Section 6.04 and Section 6.01 shall not exceed the amount of the Deficiency for such Fiscal Year. In each Fiscal Year during which both the Continuing Royalty Fee and the Basic Fee are reduced due to a Deficiency, the Basic Fee shall be considered paid on reduced in full before the date it Continuing Royalty Fee is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative reduced to cover any remaining amount of the Grantee showing Deficiency. To the basis for the computation extent Franchisor has received any such Continuing Royalty Fee it will remit such fees to Owner as determined herein. An example of the franchise calculation and payment of Basic Fee, Incentive Fee and Continuing Royalty Fee and the reduction of fees paid during is set forth on Exhibit A hereto, including for periods that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in partare less than a full calendar year. (e) Effective as of the Effective Date, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee following Article 18 is hereby added to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.Management Agreement:

Appears in 2 contracts

Samples: Management Agreement (Equity Inns Inc), Master Agreement (Equity Inns Inc)

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village City shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village City to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village City to increase the Franchise Fee above five percent (5%), and the Village City actually proposes to increase the Franchise Fee in exercise of such authority, the Village City may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village City shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village City increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCity’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village City to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village City pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Municipal/Counties Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village City approves the amendment by ordinance; and (c) the Village City notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise AreaArea pursuant to Chapter 3 Section 4-3-2 of Campton Hills Village Code; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailedIfmailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the ofthe Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the �e Village shall be credited upon discovery of such ofsuch overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, authority the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ofan ordinance enabling the same, the The Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Villagethirty 90 days) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village Viliage increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s 's decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company Chase Bank U.S.A or its successor, computed from the time due of the discovery of the delinquent payment until the date paid. Any undisputed overpayments made by the Grantee to the Village City shall be returned or credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent and shall be payable within thirty (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (9030) days from of the receipt of written notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by lawGrantee. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Cable Television Franchise Agreement

Franchise Fees. The Grantee In consideration of the development rights granted herein and for administrative and other expenses incurred by Franchisor and for the development opportunities lost or deferred as a result of the rights granted Developer herein, and in consideration of the franchise granted to Developer under each Franchise Agreement, for the first Year (as defined in the Development Schedule) and each Year thereafter during the Development Term, Developer shall pay Franchise Fees to Franchisor in an aggregate amount equal to $50,000 multiplied by the Village Net Opening Target for the Year in question (each, a “Franchise Fee Prepayment”). Each Franchise Fee Prepayment shall serve as a credit towards the Franchise Fees of $50,000 due from Developer to Franchisor for the opening of each Franchised Unit for the applicable Year. Upon the execution of each Franchise Agreement, Franchisor will apply $50,000 from the previously made Franchise Fee Prepayment as payment for the Franchise Fee owed by Developer for the applicable Franchised Unit until the full amount of the Franchise Fee Prepayment is applied. Each Franchise Fee Prepayment shall be non-refundable, deemed fully earned by Franchisor upon payment, and paid in two equal installments, with the first installment coming due on or before January 1 of the Year in question, and the second installment due on or before July 1 of the Year in question; provided, that, (i) if Developer desires to enter into a Franchise Agreement but it does not have a credit in place from an installment of a Franchise Fee Prepayment paid to Franchisor, then Franchisor shall have no obligation to enter into such Franchise Agreement until Developer pays to Franchisor a Franchise Fee in immediately available funds in the amount of $50,000, which shall be non-refundable, and (ii) such $50,000 Franchise Fee payment may be deducted from the next Franchise Fee Prepayment installment due from Developer to Franchisor in accordance with this Agreement. By way of example only, for Year 2018, Developer shall pay to Franchisor a Franchise Fee Prepayment of $500,000, payable as follows: on or before January 1, 2018, Developer shall pay to Franchisor an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System $250,000, and on or before July 1, 2018, Developer shall pay to provide Cable Service in the Franchisor an additional amount equal to $250,000. However, if Developer desires to enter into a Franchise Area; providedAgreement prior to January 1, however2018, that Grantee then Developer shall not be compelled obligated to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the $50,000 Franchise Fee shall be considered paid on to Franchisor at the date it is postmarked. Each signing of such Franchise Agreement, and such $50,000 Franchise Fee payment shall may be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed deducted from Developer’s Franchise Fee payment Prepayment installment due on January 1, 2018 (which remains unpaid in whole or in part, after the date specified herein shall would be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section$200,000). 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Development Agreement (Carrols Restaurant Group, Inc.)

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village City shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village City to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village City to increase the Franchise Fee above five percent (5%), the City shall hold a public hearing and determine if the Village actually proposes to increase City should collect the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentageadditional amount. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the samedetermination, the Village City shall notify the Grantee of its intent to collect the increased Franchise Fee, Fee and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise FeeFee or notify the Grantee of its intent to not collect the increased fee. In the event that the Village City increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCity’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village City to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village City pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village City approves the amendment by ordinance; and (c) the Village City notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Cable Television Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village County a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage rate of fees Franchise Fees than the rate paid by any other Person paying a video service providerprovider or similar fee, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the The Franchise Fee shall be considered paid on on: (i) if mailed, the date it is postmarked, and (ii) if by electronic funds transfer, on the date deposited in the County's designated account. Each With each Franchise Fee payment payment, Grantee shall be accompanied by concurrently submit a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees Franchise Fees paid during that period, including the Gross Revenues of the Cable System in the Franchise Area. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest from the time the payment would have been due at the prime lending rate as quoted by XX X.X. Xxxxxx Xxxxx & Company Co. or its successor, computed daily from the time due until paid. Any undisputed overpayments made by the Grantee to the Village County shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. 5.1.1 The Parties acknowledge that, at present, Grantee shall pay Franchise Fees to the Cable Act limits the Village to collection of County for a maximum permissible Franchise Fee period of five percent (5%) years after any part of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%)Area is annexed to a Municipality, and the Village actually proposes to increase the or until this Franchise Fee in exercise of such authorityAgreement expires by its terms, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by lawwhichever comes first. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village a Franchise Fee in an amount equal to five three percent (53%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village City shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village City to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village City to increase the Franchise Fee above five percent (5%), and the Village City actually proposes to increase the Franchise Fee in exercise of such authority, the Village City may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village City shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village City increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCity’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village City to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village City pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village City approves the amendment by ordinance; and (c) the Village City notifies the Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 11, of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Cable Television Franchise Agreement

Franchise Fees. The Grantee shall pay City reserves the right to impose upon the Company a franchise fee at any time after the one year anniversary of the effective date of this Ordinance, and upon prior ninety (90) days written notice to the Village Company. Should theTACRiItyFF BRANCH exercise said right to impose a Franchise Fee in an amount equal franchise fee, the City shall receive payment of a total annual fee of up to five percent (5%) percent of annual Gross Revenues received gross receipts per year from the operation Company's sale of electricity to electric-conswning entities (which includes businesses, industrial facilities and dwellings) inside the City's corporate limits beginning with receipts from meters read on or after the later of ninety (90) days after the date of the Cable System to provide Cable Service written notice or the effective date of the franchise fee specified in the Franchise AreaCity's notice; provided, however, that Grantee the City shall not be compelled notifY the Company, at least thirty (30) days prior to pay the effective date, of any higher percentage of fees than any annexations or other video service provider, under state authorization or otherwise, providing service changes in the City's boundaries and provide the Company a list, in electronic format, of all addresses within the territory annexed or added to or de-annexed or otherwise removed from the Government's limits that are to be served by the Company. Payment of any amount due under this Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due within forty-five (45) days after of the close end of each calendar quarterthe preceding payment period. If mailedNo acceptance of any franchise fee payment by the Government shall be construed as an accord and satisfaction that the amount paid is in fact the correct amount nor shall acceptance be deemed a release to any claim the Government may have for future or additional swns pursuant to this Franchise. Any additional amount due to the Government shall be paid within ten ( 10) days following written notice to the Company by the Government. As further consideration for the granting of this Franchise, the Franchise Fee Company agrees to pay all publication costs the City incurs in the granting of this Franchise. The above-mentioned costs shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made invoiced by the Grantee City to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), Company and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village Company shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases pay said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.costs within thirty

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable Video System to provide Cable Video Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarkedreceived. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make pay such payments including delinquent amounts as well as pay: A. An interest charge computed at the prime lending rate plus two percent (2%) as quoted by XX Xxxxxx Xxxxx & Company published in the Wall Street Journal or its successor, computed from the time due of the discovery of the delinquent payment until the date paid. . B. Any undisputed overpayments made by the Grantee to the Village City shall be returned or credited upon discovery of such overpayment until such time when and shall be payable within thirty (30) days of the full value receipt of such credit has written notice from Grantee. A disputed Franchise Fee that was not paid timely and is later found to have been applied owed shall be subject to the Franchise Fee liability otherwise accruing under this Sectionsame costs and interest as if such fees were delinquent from the date they were originally due. 5.1.1. The Parties acknowledge that, at present, the Cable Video Act limits the Village City to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross RevenuesRevenues for Video Services. In the event that a change in the Cable Video Act would allow the Village City to increase the Franchise Fee above five percent (5%), the City shall hold a public hearing and determine if the Village actually proposes to increase City should collect the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentageadditional amount. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the samedetermination, the Village City shall notify the Grantee of its intent to collect the increased Franchise Fee, Fee and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) City to effectuate any changes necessary to begin the collection of such increased Franchise FeeFee or notify the Grantee of its intent to not collect the increased fee. In the event that the Village City increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCity’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village City to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Video Operator granted a Cable Video Franchise by the Village City pursuant to the Cable Video Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village City approves the amendment by ordinance; and (c) the Village City notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company Chase Bank U.S.A or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village City shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village City to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village City to increase the Franchise Fee above five percent (5%), the City shall hold a public hearing and determine if the Village actually proposes to increase City should collect the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentageadditional amount. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the samedetermination, the Village City shall notify the Grantee of its intent to collect the increased Franchise Fee, Fee and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise FeeFee or notify the Grantee of its intent to not collect the increased fee. In the event that the Village City increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCity’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village City to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village City pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village City approves the amendment by ordinance; and (c) the Village City notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time date due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, shall determine if the Village may amend should collect the Franchise Fee percentageadditional amount. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the samedetermination, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, Fee and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise FeeFee or notify the Grantee of its intent to not collect the increased fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s 's decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village a Franchise Fee franchise fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System system to provide Cable Service in the Franchise Area; . No later than one hundred twenty (120) days following the execution of this Franchise Agreement the Grantee shall increase the franchise fee from three percent (3%) to five percent (5%) provided, however, however that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees franchise fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee franchise fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees Franchise Fees paid during that period. Any undisputed Franchise Fee payment franchise fee payment, which remains unpaid in whole or in part, after the date specified herein herein, shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest from the time of the discovery of the delinquent payment at the an annual rate equal to prime lending rate as quoted by XX Xxxxxx Xxxxx & Company Chase Bank U.S.A. or its successor, successor computed daily from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be returned or credited upon discovery of such overpayment until such time when and shall be payable within thirty (30) days of the full value receipt of such credit has been applied written notice from Grantee. Interest shall only apply to delinquent payments that are solely attributable to the Franchise Fee liability otherwise accruing under this Section. 5.1.1actions of the Grantee. The Parties acknowledge thatTherefore, at presentwhere information or data that would be germane to the Grantee’s ability to collect, calculate or remit the Cable Act limits correct payment is within the control of the Village and the Grantee has made reasonable efforts to collection affect an accurate calculation in the event of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village delinquent or corrective payment being made no interest shall apply to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of any such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by lawpayments. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the City/County/Village a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company Chase Bank U.S.A or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the City/County/Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the City/County/Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the City/County/Village to increase the Franchise Fee above five percent (5%), the City/County/Village shall hold a public hearing and determine if the City/County/Village actually proposes to increase should collect the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentageadditional amount. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the samedetermination, the City/County/Village shall notify the Grantee of its intent to collect the increased Franchise Fee, Fee and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the City/County/Village) to effectuate any changes necessary to begin the collection of such increased Franchise FeeFee or notify the Grantee of its intent to not collect the increased fee. In the event that the City/County/Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the City/County/Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the City/County/Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the City/County/Village pursuant to the Cable Act, and Section 11-42-11 [for Counties, “Section 5-1095”] of the Illinois Municipal Municipal/Counties Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the City/County/Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.and

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The During the term of this Franchise, Grantee shall pay to the Village Grantor a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In If any such law, regulation or valid rule alters the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%)) Franchise Fee ceiling enacted by the Cable Act, and then Grantor shall have the Village actually proposes authority to (but shall not be required to) increase or decrease the Franchise Fee accordingly, provided such increase or decrease is for purposes not inconsistent with Applicable Laws and applied in exercise of such authority, the Village may amend same manner to all franchised Cable Service providers in the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise FeeArea. In the event Grantee bundles or combines Cable Services (which are subject to the Franchise Fee) with non-Cable Services (which are not subject to the Franchise Fee) so that Subscribers pay a single fee for more than one (1) class of service resulting in a discount on Cable Services, Grantee agrees that for the Village increases said purpose of calculation of the Franchise Fee, the Grantee it shall notify its Subscribers allocate to Cable Service revenue no less than a pro rata share of the Village’s decision to increase said fee prior to revenue received for the implementation bundled or combined services. The pro rata share shall be computed on the basis of the collection published charge for each service in the bundled or combined classes of said fee from Subscribers as required by law. 5.1.2services when purchased separately. In the event alternative, Grantee may calculate revenues to be included in Gross Revenues by applying a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected uniform price discount equally to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to published rate card of the Cable Act, Service and Section 11-42-11 the published rate card of the Illinois Municipal Code; provided that: each non- Cable Service of a discounted bundle of services. (a) such amendment is in compliance Franchise fees shall be paid quarterly not later than thirty (30) Days following the end of a given quarter. In accordance with this Section 18, Grantee shall file with the change Grantor a Franchise Fee payment worksheet, attached as Exhibit C, signed by an authorized representative of Grantee: which identifies Gross Revenues earned by Grantee during the period for which payment is made. No acceptance of any payment shall be construed as an accord that the amount paid is, in state fact, the correct amount, nor shall such acceptance of payment be construed as a release of any claim which the Grantor may have for further or federal law; additional sums payable under the provisions of this Franchise. All amounts paid shall be subject to audit and recomputation by Grantor. (b) Neither current nor previously paid Franchise Fees shall be subtracted from the Village approves the amendment Gross Revenue amount upon which Franchise Fees are calculated and due for any period, unless otherwise required by ordinance; and Applicable Law. (c) Any Franchise Fees owing pursuant to this Franchise which remain unpaid more than thirty (30) Days after the Village notifies Grantee dates specified herein shall be delinquent and shall thereafter accrue interest at least ninety twelve percent (9012%) days prior to per annum or two percent (2%) above prime lending rate as quoted by the effective date of such an amendmentWall Street Journal, whichever is greater.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay As compensation for the Franchise created by this Ordinance to the Village Company, the City shall receive payment of a Franchise Fee in an amount equal to five total annual fee of two and one tenth (2.1) percent (5%) of annual Gross Revenues received gross receipts per year from the operation Company's sale of electricity to electric­ consuming entities (which includes businesses, industrial facilities and dwellings) inside the Cable System to provide Cable Service in the Franchise AreaCity's corporate limits; provided, however, that Grantee the City shall not be compelled notify the Company, at least thirty (30) days prior to pay the effective date, of any higher percentage of fees than any annexations or other video service provider, under state authorization or otherwise, providing service changes in the Franchise AreaCity's boundaries and provide the Company a list, in electronic format, of all addresses within the territory annexed or added to or de-annexed or otherwise removed from the Government's limits that are tRo beEserCvedEIVED by the Company. PUBLIC SERVICE COMMISSION OF KENTUCKY The City reserves the right to increase the franchise fee at any time upon prior ninety (90) days written notice to the Company. Should the City exercise said right to increase the franchise fee, the City shall receive a monthly payment of up to three (3) percent of gross receipts per month from the Company's sale of electricity (which includes businesses, industrial facilities and dwellings) inside the City's corporate limits beginning with the first billing cycle on or after the later of ninety (90) days after the date of the written notice or the effective date of the franchise fee specified in the City's n<;>xxxx. Payment of any amount due under this Franchise Fees shall be made on a quarterly basis and shall be due within forty-five (45) days after of the close end of each calendar quarterthe preceding payment period. If mailedNo acceptance of any franchise fee payment by the Government shall be construed as an accord and satisfaction that the amount paid is in fact the correct amount nor shall acceptance be deemed a release to any claim the Government may have for future or additional sums pursuant to this Franchise. Any additional amount due to the Government shall be paid within ten (10) days following written notice to the Company by the Government. As further consideration for the granting of this Franchise, the Franchise Fee Company agrees to pay all publication costs the City incurs in the granting of this tfranchise. The above-mentioned costs shall be considered paid on invoiced by the date it City to the Company and the Company shall pay said costs within thirty (30) days of receipt of said invoice. The Company shall permit the Government to utilize its poles, conduit, or raceway space at no charge when such space is postmarkedvacant or available for public safety or governmental purposes. Each Franchise Fee payment Any other fees assessed to the Company in connection with the Company's use of the RECEIVED City's public ways, including fees associated with permits and licenses of whatever nature, shall be accompanied payable by a report prepared the Company only if and to the extent the Company is authorized by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in partKentucky Exhibit�, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company Page1i.-ot1..�.Pages Public Service Commission (or its successor) to pass through such fees to the entities served by it inside the City's corporate limits. To the extent the Company actually incurs other reasonable incremental costs in connection with its compliance with the Government's ordinances, computed the Government agrees that the Company may recover such amounts from time due until paid. Any undisputed overpayments made its customers pursuant to the terms of a tariff filed with and approved by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability Kentucky Public Service Commission, if otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the Village) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village increases said Franchise Fee, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required permitted by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village approves the amendment by ordinance; and (c) the Village notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village County a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village County shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village County to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village County to increase the Franchise Fee above five percent (5%), the County shall hold a public hearing and determine if the Village actually proposes to increase County should collect the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentageadditional amount. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the samedetermination, the Village County shall notify the Grantee of its intent to collect the increased Franchise Fee, Fee and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCounty) to effectuate any changes necessary to begin the collection of such increased Franchise FeeFee or notify the Grantee of its intent to not collect the increased fee. In the event that the Village County increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCounty’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village County to reduce the franchise fee Franchise Fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees Franchise Fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village County pursuant to the Cable Act, and Section 115-42-11 1095 of the Illinois Municipal Counties Code; provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village County approves the amendment by ordinance; and (c) the Village County notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Franchise Agreement

Franchise Fees. The Grantee shall pay to the Village City a Franchise Fee in an amount equal to five percent (5%) of annual Gross Revenues received from the operation of the Cable System to provide Cable Service in the Franchise Area; provided, however, that Grantee shall not be compelled to pay any higher percentage of fees than any other video service provider, under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees shall be made on a quarterly basis and shall be due forty-five (45) days after the close of each calendar quarter. If mailed, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village City shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village City to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village City to increase the Franchise Fee above five percent (5%), and the Village City actually proposes to increase the Franchise Fee in exercise of such authority, the Village City may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village City shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice from the VillageCity) to effectuate any changes necessary to begin the collection of such increased Franchise Fee. In the event that the Village City increases said Franchise Fee, the Grantee shall notify its Subscribers of the VillageCity’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village City to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village City pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; Municipal/Counties Code provided that: (a) such amendment is in compliance with the change in state or federal law; (b) the Village City approves the amendment by ordinance; and (c) the Village City notifies Grantee at least ninety (90) days prior to the effective date of such an amendment.

Appears in 1 contract

Samples: Cable Television Franchise Agreement

Franchise Fees. The Grantee shall pay In addition to the Village a Franchise Fee fees set forth in Section 10.A above, Franchisee shall be obligated to pay an amount annual franchise fee equal to five three and one half percent (53.5%) of annual the Gross Revenues Receipts received from customers and subscribers or other users located within the operation Franchise Area and this obligation shall commence on the signing of this Agreement, unless time is needed to complete the installation of the Cable System Facilities, or to provide Cable Service in make the Franchise Area; providedFacilities commercially operational. In such case, however, that Grantee the earlier of those (2) two exceptions shall not be compelled to pay any higher percentage of dictate all franchise fees than any and other video service provider, compensation due and payable under state authorization or otherwise, providing service in the Franchise Area. The payment of Franchise Fees this Agreement shall be made on a quarterly basis paid automatically by Franchisee without any notice or other request from City. “Gross Receipts” means any and shall be due forty-five (45) days after the close all revenues or receipts, as determined in accordance with generally accepted accounting principles and including cash, credits, or other consideration of each calendar quarter. If mailedany kind or nature, the Franchise Fee shall be considered paid on the date it is postmarked. Each Franchise Fee payment shall be accompanied by a report prepared by a representative of the Grantee showing the basis for the computation of the franchise fees paid during that period. Any undisputed Franchise Fee payment which remains unpaid in whole derived directly or in part, after the date specified herein shall be delinquent. For any delinquent Franchise Fee payments, Grantee shall make such payments including interest at the prime lending rate as quoted by XX Xxxxxx Xxxxx & Company or its successor, computed from time due until paid. Any undisputed overpayments made by the Grantee to the Village shall be credited upon discovery of such overpayment until such time when the full value of such credit has been applied to the Franchise Fee liability otherwise accruing under this Section. 5.1.1. The Parties acknowledge that, at present, the Cable Act limits the Village to collection of a maximum permissible Franchise Fee of five percent (5%) of Gross Revenues. In the event that a change in the Cable Act would allow the Village to increase the Franchise Fee above five percent (5%), and the Village actually proposes to increase the Franchise Fee in exercise of such authority, the Village may amend the Franchise Fee percentage. Following the determination to increase the Franchise Fee and enactment of an ordinance enabling the same, the Village shall notify the Grantee of its intent to collect the increased Franchise Fee, and Grantee shall have a reasonable time (not to be less than ninety (90) days from receipt of notice indirectly from the Village) to effectuate any changes necessary to begin system being provided through the collection of such increased Franchise Fee. In the event that the Village increases said Franchise FeeFacilities, the Grantee shall notify its Subscribers of the Village’s decision to increase said fee prior to the implementation of the collection of said fee from Subscribers as required by law. 5.1.2. In the event a change in state or federal law requires the Village to reduce the franchise fee percentage that may be collected, the parties agree the Grantee shall reduce the percentage of franchise fees collected to the lower of: i) the maximum permissible franchise fee percentage; or ii) the lowest franchise fee percentage paid by any other Cable Operator granted a Cable Franchise by the Village pursuant to the Cable Act, and Section 11-42-11 of the Illinois Municipal Code; provided thatincluding: (a) such amendment is revenues and receipts that Franchisee receives in compliance connection with the change its services or other services provided in state or federal lawaccordance with this Agreement; (b) revenues and receipts that Franchisee receives from its customers or subscribers, including residential, industrial, and commercial entities within the Village approves Franchise Area for the amendment sale, transmission, rendering, and/or provision of its services under rates, temporary or permanent, whether authorized or not by ordinancethe Public Service Commission and represents amounts billed under such rates, as adjusted for refunds, the net write-off of uncollectible accounts, corrections, or other regulatory adjustments; and (c) any revenues and receipts received for rendering other services, products, or charges -- including installation, maintenance, and service charges -- relating or pertaining to or in connection with the Village notifies Grantee at least ninety system being provided through the Facilities. The Franchise Fee shall be paid by Franchisee on an annual basis and shall be made directly to the City within thirty (9030) days prior after the expiration of each calendar year. Simultaneously with the payment of the Franchise Fee, Franchisee shall file with the City a detailed revenue statement clearly showing the Gross Receipts received by Franchisee during the preceding year and certified by an officer of Franchisee attesting to the effective date accuracy, completeness, and veracity of such an amendmentthe revenue figures consistent with the definition of Gross Receipts, as defined in this Agreement.

Appears in 1 contract

Samples: Franchise Agreement