Compensation and Auditing Clause Samples
Compensation and Auditing. 24 11.1 Amount of Compensation 24 11.2 Effect of Additional Commitments on Franchise Fees 24 11.3 Payment of Franchise Fees on Bundled Services 25 11.4 Payments and Monthly Reports 25 11.5 Interest on Late Payments 26 11.6 Acceptance of Payment and Recomputation. 26 11.7 Audits 26 11.8 Compensation for Non-Cable Services 26 11.9 No Offset or Credit Against Franchise Fees 26 SECTION 12. INDEMNIFICATION, INSURANCE, BONDS AND SECURITY FUND 27 12.1 Indemnification 27 12.2 Insurance 28 12.3 Construction Bond. 29
Compensation and Auditing.
11.1 Amount of Compensation Franchise Fee. In consideration of permission to use the Rights of Way of the City, the Grantee shall pay annually as a Franchise Fee to the City, throughout the duration of this Franchise, an amount of up to five percent (5%) of Grantee's Gross Revenues. The Franchise Fee shall be set by ordinance passed by the City Council. If during the term of this Franchise, the FCC, federal or state government, or the courts effectively permit the City to impose a Franchise Fee greater than the five percent (5%) authorized by federal law, the City shall have the right to increase the Franchise Fee to take full advantage thereof. Any change in Franchise Fee percentage shall be subject to the provision of subsection 1.4 of this Franchise.
Compensation and Auditing. Blue-U will pay to NEPPA an amount totaling 5% of total annual revenues, generated from NEPPA members as a result of the efforts extended by NEPPA pursuant to the terms of this Agreement. Payment will be made to NEPPA within 30 days following the end of each quarter - March 31, June 30, Sept 30, and December 31 and shall be accompanied by an accounting of the total revenues generated by NEPPA members. NEPPA shall have the right, not more than once per year, to examine
Compensation and Auditing