Payment to Grantee. If the Grantor elects to terminate this Agreement pursuant to Section 21.1, the Grantor shall, at its option, either: (i) pay the Grantee the fair market appraised value of NEON (determined, if no agreement can be reached between the parties on such value, pursuant to Section 38) or (ii) elect to receive [**] from the use of the Cable as determined by an independent auditor selected by the mutual consent of the Parties. If Grantor elects clause (ii), the payments provided for in that clause shall be in addition to any Annual Fees due Grantor and this Agreement shall be extended for another 30 years from the date it would have otherwise terminated.
Appears in 2 contracts
Samples: Agreement for the Provision of Fiber Optic Facilities and Services (Northeast Optic Network Inc), Agreement for the Provision of Fiber Optic Facilities and Services (Northeast Optic Network Inc)
Payment to Grantee. If the Grantor elects to terminate this Agreement pursuant to Section 21.1, the Grantor shall, at its option, either: (i) pay the Grantee the fair market appraised value of the NEON Network (determined, if no agreement can be reached between the parties on such value, pursuant to Section 38) or (ii) elect to receive [**] 10% of the Grantee’s gross revenue from the use of the Cable as determined by an independent auditor selected by the mutual consent of the Parties. If Grantor elects clause (ii), the payments provided for in that clause shall be in addition to any Annual Fees due Grantor and this Agreement shall be extended for another 30 years from the date it would have otherwise terminated.
Appears in 1 contract
Samples: Agreement for the Provision of Fiber Optic Facilities and Services (RCN Corp /De/)
Payment to Grantee. If the Grantor elects to terminate this Agreement pursuant to Section 21.1, the Grantor shall, at its option, either: (i) pay the Grantee the fair market appraised value of the NEON Network (determined, if no agreement can be reached between the parties on such value, pursuant to Section 38) or (ii) elect to receive [**] 10% of the Grantee's gross revenue from the use of the Cable as determined by an independent auditor selected by the mutual consent of the Parties. If Grantor elects clause (ii), the payments provided for in that clause shall be in addition to any Annual Fees due Grantor and this Agreement shall be extended for another 30 years from the date it would have otherwise terminated.
Appears in 1 contract
Samples: Agreement for the Provision of Fiber Optic Facilities and Services (Globix Corp)
