Common use of Monetary Compensation Clause in Contracts

Monetary Compensation. 3.2.1. As a franchise fee to be paid as compensation in exchange for the benefit and privilege of using the Inalienable Property for the purpose of offering and providing Information Services, the Company shall pay to the City $0.19 per linear foot of Installation Area in the Franchise Area, calculated per calendar quarter, with such fee being subject to a 4% annual escalation effective on the first anniversary of the Effective Date of this Agreement and each subsequent anniversary thereafter during the Term. 3.2.1.1. Exceptions to § 3.2.1 are as follows: 3.2.1.1. A. Where construction of portions of the Installation Area was initiated or completed prior to the Effective Date in the boroughs of the Bronx, Brooklyn, Queens, Staten Island or Manhattan above 96th Street, the Company shall pay to the City $0.09 per linear foot of Installation Area for such portions, calculated per calendar quarter, with such fee being subject to a 4% annual escalation fee effective on the first anniversary of the Effective Date of this Agreement and each subsequent anniversary thereafter during the Term;