Common use of – PEG ACCESS SUPPORT Clause in Contracts

– PEG ACCESS SUPPORT. The Licensee shall provide annual funding to the Issuing Authority for PEG Access Channel operating support or other PEG Access Channel costs and expenses (“PEG Access Support”) in the amount of four percent (4.0%) of Licensee's annual Gross Revenue, subject to the limitation in Section 6.2; provided however, that the percentage shall increase to five percent (5.0%) of annual Gross Revenue on and after October 1, 2020 if the Town notifies Verizon in writing no less than sixty (60) days before such date that Charter Communications will also be obligated to pay the Town as of that date five percent (5.0%) for PEG Access Support under its cable television renewal license with the Town; and provided further, that if the Town issues or renews any cable licenses after the Effective Date that provide for a lower percentage of PEG Access Support, then the percentage of the Licensee’s PEG Access Support payments shall be reduced to match such lower percentage over that same time period. The Issuing Authority shall place Licensee’s PEG Access Support payments in a restricted account for cable related purposes in the nature of a grant account and not into the general fund, which account will be under the Issuing Authority’s control. The Licensee shall provide annual funding to the Issuing Authority for PEG Access Channel operating support or other PEG Access Channel costs and expenses (“PEG Access Support”) in the amount of four percent (4.0%) of Licensee's annual Gross Revenue, subject to the limitation in Section 6.2; provided however, that the percentage shall increase to five percent (5.0%) of annual Gross Revenue on and after October 1, 2020, if as of that date Charter Communications is also obligated to pay the Town five percent (5.0%) for PEG Access Support under its cable television license with the Town; and provided further, that if the Town issues or renews any cable licenses after the Effective Date that provide for a lower percentage of PEG Access Formatted: Legal3_L3, Left, Outline numbered + Level: 3 + Numbering Style: 1, 2, 3, … + Start at: 1 + Alignment: Left + Aligned at: 1.5" + Indent at: 0" Support, then the percentage of the Licensee’s PEG Access Support payments shall be reduced to match such lower percentage over that same time period. The Issuing Authority shall place Licensee’s PEG Access Support payments in a restricted account for cable related purposes in the nature of a grant account and not into the general fund, which account will be under the Issuing Authority’s control.