Payment After First Three Years Sample Clauses
Payment After First Three Years. On June 30th following the end of the third (3rd) year following construction of the Changeable Message Board(s), Company shall pay City a pro-rata share of the Annual Monetary Value, which pro-rata share shall equal one-twelth (1/12th) the Annual Monetary Value multiplied by the number of months from the end of the third (3rd) year to June 30th. Beginning on the next July 1st and each fiscal year thereafter, Company shall pay City, on the first (1st) day of each month, one-twelfth (1/12th) of the Annual Monetary Value, minus the percentage amount of City Announcements used by the City during the prior fiscal year, as discussed in section 4.3.3 above.
Payment After First Three Years. At the end of the third Operational Year, and each Operational Year thereafter, Company shall pay City, on the first (1st) day of each month, one-twelfth (1/12th) of the Annual Monetary Value, minus the percentage amount of City Announcements used by the City during the prior Operational Year, as discussed in section 2.3.3 above.