Common use of Xxx Xxxxx Clause in Contracts

Xxx Xxxxx. 5.3.1. Licensee shall pay to the Town a XXX Xxxxx to be used for PEG Access capital funding purposes (the “XXX Xxxxx”), as follows: within forty-five (45) days of the Effective Date, Licensee shall pay to the Town the sum of Forty-seven Thousand Five Hundred Dollars ($47,500). An additional payment of Forty-seven Thousand Five Hundred Dollars ($47,500) shall be paid by the Licensee to the Town on the first anniversary of the Effective Date of the License. (1) Within forty-five (45) days of the Effective Date, Licensee shall pay to the Town the sum of Ten Thousand Dollars ($10,000). Four additional payments of Ten Thousand Dollars ($10,000) shall be paid by the Licensee to the Town on the first, second, third, and fourth anniversaries of the Effective Date of the License; and (2) The Licensee shall pay to the Town the sum of twenty-five one hundreds of one percent (0.25%) of Gross Revenue as defined in Section 1.19 above, payable on a quarterly basis. Said payments shall be made on the following quarterly basis: (i) on or before May 15th of each year of this License for the previous (3) month period of January, February and March; (ii) on or before August 15th of each year of this License for the previous three (3) month period of April, May and June; (iii) on or before November 15th of each year of this License for the previous three (3) month period of July, August and September; and (iv) on or before February 15th of each year of this License for the previous three (3) month period of October, November and December. The first twenty-five one hundreds of one percent (0.25%) PEG Formatted: Font: Not Italic Grant payment under this License shall be made on or before [date], for the previous period from the Effective Date through [date]. Each such payment shall be accompanied by a Gross Revenue report documenting, in reasonable detail, the Gross Revenue as defined in Section 1.19.

Xxx Xxxxx. 5.3.1. Licensee shall pay to the Town a XXX Xxxxx to be used for PEG Access capital funding purposes (the “XXX Xxxxx”), as follows: within forty-five (45) days of the Effective Date, Licensee shall pay to the Town the sum of Forty-seven Thousand Five Hundred Dollars ($47,500). An additional payment of Forty-seven Thousand Five Hundred Dollars ($47,500) shall be paid by the Licensee to the Town on the first anniversary of the Effective Date of the License. (1) Within forty-five (45) days of the Effective Date, Licensee shall pay to the Town the sum of Ten Thousand Dollars ($10,000). Four additional payments of Ten Thousand Dollars ($10,000) shall be paid by the Licensee to the Town on the first, second, third, and fourth anniversaries of the Effective Date of the License; and (2) The Licensee shall pay to the Town the sum of twenty-five one hundreds of one percent (0.25%) of Gross Revenue as defined in Section 1.19 above, payable on a quarterly basis. Said payments shall be made on the following quarterly basis: (i) on or before May 15th of each year of this License for the previous (3) month period of January, February and March; (ii) on or before August 15th of each year of this License for the previous three (3) month period of April, May and June; (iii) on or before November 15th of each year of this License for the previous three (3) month period of July, August and September; and (iv) on or before February 15th of each year of this License for the previous three (3) month period of October, November and December. The first twenty-five one hundreds of one percent (0.25%) PEG Formatted: Font: Not Italic Grant XXX Xxxxx payment under this License shall be made on or before [date], for the previous period from the Effective Date through [date]. Each such payment shall be accompanied by a Gross Revenue report documenting, in reasonable detail, the Gross Revenue as defined in Section 1.19.