EXHIBIT 10.47
***PORTIONS OF THIS EXHIBIT MARKED BY BRACKETS ("[______]") OR OTHERWISE
IDENTIFIED HAVE BEEN OMITTED PURSUANT TO A REQUEST FOR CONFIDENTIAL TREATMENT.
THE OMITTED PORTIONS HAVE BEEN FILED SEPARATELY WITH THE SECURITIES AND EXCHANGE
COMMISSION.***
ADDENDUM TO
FIBER OPTIC CAPACITY MARKETING AND OPERATING AGREEMENT
THIS ADDENDUM TO FIBER OPTIC CAPACITY MARKETING AND OPERATING AGREEMENT,
for good and valuable consideration, is made this 10th day of July, 1997, by and
between Florida Power & Light Company ("FPL") and Interstate FiberNet or its
Assign ("IFN").
1. This Addendum is intended to confirm and ratify the terms of that
certain Fiber Optic Capacity Marketing and Operating Agreement entered into
between the parties and dated March 21, 1996 ("Agreement"), except as
specifically modified herein.
2. Paragraph 4.5.5, Billing and Collection, of that Agreement shall be
----------------------
deleted and replace by the following paragraph:
4.5.5 Billing and Collection IFN shall xxxx and collect monthly from all
----------------------
Licensees all License fees. Payments will be due on the 20th day of the month
in which service is provided, and IFN shall forward to FPL by wire transfer the
aggregate sum of such License fees contracted for less IFN's commission as set
forth in Exhibit "E", attached hereto and incorporated herein. If service is
initiated prior to the 20th day of the first month of service, then the first
payment shall be due on the 20th day of the month following acceptance of
service and shall include payment for the partial initial month and the next
month's charges. If service is initiated on or after the 20th day of the first
month of service, then the first payment shall be due on the 20th day of the
second month following acceptance of service and shall include payment for the
partial initial month and the next two month's charges. If FPL does not receive
payment within one month of the due date, then FPL may assess a late payment
charge of one and a half (1 1/2) percent of the amount due per month calculated
on a daily basis or the highest amount then permitted by law, whichever is
higher. Failure to forward such payment to FPL as due and after notice of such
nonpayment by FPL to IFN and after a 15 day cure period shall constitute a
default going to the essence of this Agreement and FPL, at its discretion, may
cancel this Agreement in whole or in part.
3. Exhibit E, Commission Schedule, of that Agreement shall be amended by
deleting the existing Exhibit E and replacing such Exhibit E with the Exhibit E
attached hereto and incorporated herein.
4. Except as this Addendum has amended and changed the Fiber Optic
Capacity Marketing and Operating Agreement, the terms, conditions and provisions
of that Agreement shall remain in full force and effect.
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IN WITNESS WHEREOF, IFN and FPL have executed this Addendum the day and
year first above written.
FLORIDA POWER & LIGHT COMPANY COMPANY:
By: /s/ Xxxx Xxxxx By: /s/ Xxxx Xxxxxxx
---------------------------------- -------------------------------
Print Name: Xxxx Xxxxx Print Name: Xxxx Xxxxxxx
-------------------------- -----------------------
Title: Director of Telecommunications
and Technology Title: Snr. VP CFO
------------------------------- ----------------------------
Attest: /s/ Xxxxxx Xxxxxx
----------------------------
(Seal)
Approved as to Form by
FPL Law Department
[SIGNATURE ILLEGIBLE], Attorney
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EXHIBIT E
[Amended]
COMMISSION SCHEDULE
For purposes of this commission schedule, [_______________________
_________________________________________________________________
________________________________________________________________
________________________________________________]
FPL shall pay IFN for IFN's Marketing and Operating Services provided under this
Agreement as follows:
[_] of total monthly capacity revenues remitted to FPL
under all License Agreements up to [_______]
[_] of total monthly capacity revenues remitted to FPL
under all License Agreements in excess of [_______]and
up to [______], and
[_] of monthly capacity revenues remitted to FPL under
all License Agreements in excess of [_______]
[_______________________________________________________________________________
_________________________________________________________________________
________________________________________________]
For joint circuits which are routes including sections within FPL's network as
well as the balance of IFN's network, FPL will pay to IFN the commissions shown
above for capacity revenue on the FPL system which results from the marketing
efforts of IFN (that is, [_] on monthly capacity revenues up to [______], [_] on
monthly capacity revenues in excess of [_______]up to [______], and [_] on
monthly capacity revenues in excess of [______]). Reciprocally, on joint
circuits, IFN will pay to FPL the same commissions shown above, less [_], for
capacity revenue on the balance of the IFN system which results from the
marketing efforts of FPL (that is, [_]on monthly capacity revenues up to
[______], [_] on monthly capacity revenues up to [______], [_] on monthly
capacity revenues in excess of [______] up to [______], and [_] on monthly
capacity
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EXHIBIT E
(Continued)
revenues in excess of [_______].
[________________________________________________________________].
[________________________________________________________________].
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