PEG Access Capital Support. (a) The Licensee shall provide funding to the Issuing Authority and/or the Access Provider, as directed by the Issuing Authority, in writing, in the total amount of Three Hundred Thousand Dollars ($300,000) for PEG Access capital support purposes. The Licensee shall provide such funding on annual basis, no later than July 1st of each year of this Renewal License, in the amount of Thirty Thousand Dollars ($30,000) each year. The first annual payment shall be made no later than July 1, 2020; the last annual payment shall be no later July 1, 2029.
(b) Under no circumstances shall said PEG Access Capital Support payments required herein be counted against (i) the annual PEG Access funding payable to the Issuing Authority and/or the Access Provider pursuant to Section 6.4 above; and/or (ii) the License Fees payable to the Town pursuant to 9.4 infra., and/or (iii) any other License Fees or payments required by applicable law.
PEG Access Capital Support. At its sole discretion, the Village may designate PEG Access capital projects to be funded by the Village. The Village shall send written notice of the Village’s desire for Grantee to collect as an external charge a PEG Access Capital Fee of up to thirty-five cents ($0.35) per customer per month to be passed on to each Subscriber pursuant Section 622(g)(2)(C) of the Cable Act (47 U.S.C. §542(g)(2)(C)). The notice shall include a detailed and itemized description of the intended utilization of the PEG Capital Fee for PEG Access Channel facilities and/or equipment (PEG Access capital costs) and the Grantee shall have the opportunity to review and make recommendations upon the Village’s plan prior to agreeing to collect and pay to the Village the requested amount. During the term of this Agreement, the Grantee shall collect the external charge and shall make the PEG Access capital payments from such sums at the same time and in the same manner as Franchise Fee payments. Said collection and payments shall continue until such time as the amount set forth in the Plan and Notice has been collected and paid. Consistent with the description of the intended utilization of the PEG Access Capital Fee, the Village shall be permitted to hold all or a portion of the PEG Capital Fee from year to year as a designated fund to permit the Village to make large capital expenditures, if necessary, provided that if the entire amount is not expended during the term of this agreement, any remaining funds shall be credited against PEG Access Capital obligations in the subsequent franchise renewal. Said PEG Access Capital Fee shall be imposed within one hundred twenty (120) days of the Village’s written request.
8.6.1. For any payments owed by Grantee in accordance with this Section which are not made on or before the due dates, Grantee shall make such payments including interest at an annual rate of the prime lending rate as quoted by JPMorgan Chase & 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 PEG Access Capital Fee liability otherwise accruing under this section.
8.6.2. Grantee and the Village agree that the capital obligations set forth in this Section are not “Franchise Fees” within the meaning of 47 U.S.C. § 542.
PEG Access Capital Support. In addition to the requirements of Section 4.2(a)-(d) above, the Grantee shall collect and remit a PEG capital fee of up to eighty-five cents ($.85) per Subscriber, per month (“PEG Capital Fee”). The Grantee shall remit such payments on the same schedule as the Franchise Fee. All amounts paid shall be subject to audit and recomputation and acceptance thereof does not constitute an accord that amounts paid are correct. The PEG Capital Fee as of the Effective Date is eighty-five cents ($.85) per Subscriber, per month. Grantee may itemize any PEG Capital Fee on Subscriber’s bills. Payment by Grantee must be separate from and in addition to any Franchise Fee.
