Undedicated I-Net Funds Clause Samples

Undedicated I-Net Funds. The restrictions upon the Jurisdictions’ use of the one percent (1%) paid by Grantee to the Jurisdictions to fund Capital Costs related to the I-Net and its use (“I-Net Capital Funds”) under Section 7 will survive the termination of this Franchise for any cause. Any encumbered or dedicated I-Net Capital funds must be expended within four years of receipt by the Jurisdictions. Within 30 days after December 31, 2015 and December 31, 2020, the Jurisdictions shall document any unencumbered and undedicated amounts in Jurisdictions accounts from I-Net Capital funds paid to the Jurisdictions through June 30, 2015 and through June 30, 2020, respectively. If the amount of unencumbered and undedicated I-Net Capital Funds is in excess of twice the total amount paid to the Jurisdictions and intended for I-Net purposes for the fiscal year period July 1, 2014 through June 30, 2015 or July 1, 2019 through June 30, 2020, respectively, the Jurisdictions will return the excess of such I-Net Capital Funds to Grantee for the purpose of refunding these amounts to cable subscribers or to apply such funds to offset Capital construction costs of line extensions that exceed Grantee’s Capital contribution obligations under Section 8.6, for the purpose of distributing Cable Services, including PEG programming, within the Franchise Area.‌