Common use of Franchise Fee Clause in Contracts

Franchise Fee. (a) Grantee shall pay to Grantor a Franchise Fee which shall be calculated pursuant to this Section. It is understood that Grantee has or will enter into Franchise agreements with the City of Salem ("Salem") and the Town of Vinton ("Vinton") (Grantor, Salem, and Vinton being hereinafter sometimes collectively referred to as the "localities") with fee provisions identical to this one, and that the total annual Franchise Fee to be paid to the three localities in aggregate is $56,000 for calendar year 1996 ("base year total annual Franchise Fee"). Grantor's Franchise Fee shall be a percentage share of the base year total annual Franchise Fee, which shall be determined on a pro rata basis according to its percentage share of the total dollar value of Grantee's gas sales occurring within the localities during the calendar year. For each calendar year of the Franchise, each locality's percentage share shall be determined by the following formula: total dollar value of Grantee's gas sales Locality's percentage share =within the Territorial Limits of the locality --------------------------------------------- total dollar value of Grantee's gas sales in the three localities For calendar year 1996, the Franchise Fee shall be paid to Grantor on or before March 31, 1997. (b) For each succeeding calendar year during the term of this Franchise, the total annual Franchise Fee paid by Grantee to the localities shall be the base year total annual Franchise Fee increased by three (3) percent compounded annually over the term of the Franchise. For each calendar year during the term of this Franchise, Grantor's percentage share shall be determined pursuant to this Section, and paid to Grantor on or before March 31 of the succeeding calendar year.

Franchise Fee. (a) Grantee shall pay to Grantor a Franchise Fee which shall be calculated pursuant to this Section. It is understood that Grantee has or will enter into Franchise agreements with the City of Salem Roanoke ("SalemRoanoke") and the Town of Vinton ("Vinton") (Grantor, Salem, Roanoke and Vinton being hereinafter sometimes collectively referred to as the "localities") with fee provisions identical to this one, and that the total annual Franchise Fee to be paid to the three localities in aggregate is $56,000 for calendar year 1996 ("base year total annual Franchise Fee"). Grantor's Franchise Fee shall be a percentage share of the base year total annual Franchise Fee, which shall be determined on a pro rata basis according to its percentage share of the total dollar value of Grantee's gas sales occurring within the localities during the calendar year. For each calendar year of the Franchise, each locality's percentage share shall be determined by the following formula: total Total dollar value of Grantee's gas sales Locality's percentage share =within the Territorial Limits of the Locality's percentage share = locality --------------------------------------------- -------------------------------------------- total dollar value of Grantee's gas sales in the three localities For calendar year 1996, the Franchise Fee shall be paid to Grantor on or before March 31, 1997. (b) For each succeeding calendar year during the term of this Franchise, the total annual Franchise Fee paid by Grantee to the localities shall be the base year total annual Franchise Fee increased by three (3) percent compounded annually over the term of the Franchise. For each calendar year during the term of this Franchise, Grantor's percentage share shall be determined pursuant to this Section, and paid to Grantor on or before March 31 of the succeeding calendar year.

Franchise Fee. (a) Grantee shall pay to Grantor a Franchise Fee which shall be calculated pursuant to this Section. It is understood that Grantee has or will enter into Franchise franchise agreements with the City of Roanoke (“Roanoke”) and the City of Salem ("“Salem"”) and the Town of Vinton ("“Vinton"”) (Grantor, Salem, Roanoke and Vinton Salem being hereinafter sometimes collectively referred to as the "“localities"” and singularly as a “locality”) with fee provisions identical to this one, and that the total annual Franchise Fee to be paid to the three localities in aggregate is $56,000 98,196 for calendar year 1996 2016 ("“base year total annual Franchise Fee"”). Grantor's ’s Franchise Fee shall be a percentage share of the base year total annual Franchise Fee, which shall be determined on a pro rata basis according to its percentage share of the total dollar value of Grantee's ’s gas sales occurring within the localities during the calendar year. For each calendar year of the Franchise, each locality's ’s percentage share shall be determined by the following formula: total dollar value of Grantee's ’s gas sales within Locality's ’s percentage share =within = the Territorial Limits of the locality --------------------------------------------- total dollar value of Grantee's ’s gas sales in the three localities For calendar year 19962016, the Franchise Fee shall be paid to Grantor on or before March 31, 19972017. (b) For each succeeding calendar year during the term of this Franchise, the total annual Franchise Fee paid by Grantee to the localities shall be the base year total annual Franchise Fee increased by three (3) percent compounded annually over the term of the Franchise. For each calendar year during the term of this Franchise, Grantor's ’s percentage share shall be determined pursuant to this Section, and paid to Grantor on or before March 31 of the succeeding calendar year.

Franchise Fee. (a) Grantee shall pay to Grantor a Franchise Fee which shall be calculated pursuant to this Section. It is understood that Grantee has or will enter into Franchise franchise agreements with the City of Salem Roanoke ("Salem"“Roanoke”) and the Town of Vinton ("“Vinton"”) (Grantor, SalemRoanoke, and Vinton being hereinafter sometimes collectively referred to as the "“localities"” and singularly as a “locality”) with fee provisions identical to this one, and that the total annual Franchise Fee to be paid to the three localities in aggregate is $56,000 98,196.00 for calendar year 1996 2016 ("“base year total annual Franchise Fee"”). Grantor's ’s Franchise Fee shall be a percentage share of the base year total annual Franchise Fee, which shall be determined on a pro rata basis according to its percentage share of the total dollar value of Grantee's ’s gas sales occurring within the localities during the calendar year. For each calendar year of the Franchise, each locality's ’s percentage share shall be determined by the following formula: total dollar value of Grantee's ’s gas sales within Locality's ’s percentage share =within = the Territorial Limits of the locality --------------------------------------------- total dollar value of Grantee's ’s gas sales in the three localities For calendar year 19962016, the Franchise Fee shall be paid to Grantor on or before March 31, 19972017. (b) For each succeeding calendar year during the term of this Franchise, the total annual Franchise Fee paid by Grantee to the localities shall be the base year total annual Franchise Fee increased by three (3) percent compounded annually over the term of the Franchise. For each calendar year during the term of this Franchise, Grantor's ’s percentage share shall be determined pursuant to this Section, and paid to Grantor on or before March 31 of the succeeding calendar year.

Franchise Fee. (a) Grantee shall pay to Grantor a Franchise Fee which shall be calculated pursuant to this Section. It is understood that Grantee has or will enter into Franchise franchise agreements with the City of Salem ("“Salem"”) and the Town of Vinton ("“Vinton"”) (Grantor, Salem, and Vinton being hereinafter sometimes collectively referred to as the "“localities"” and singularly as a “locality”) with fee provisions identical to this one, and that the total annual Franchise Fee to be paid to the three localities in aggregate is $56,000 98,196 for calendar year 1996 2016 ("“base year total annual Franchise Fee"”). Grantor's ’s Franchise Fee shall be a percentage share of the base year total annual Franchise Fee, which shall be determined on a pro rata basis according to its percentage share of the total dollar value of Grantee's ’s gas sales occurring within the localities during the calendar year. For each calendar year of the Franchise, each locality's ’s percentage share shall be determined by the following formula: total dollar value of Grantee's ’s gas sales within Locality's ’s percentage share =within = the Territorial Limits of the locality --------------------------------------------- total dollar value of Grantee's ’s gas sales in the three localities For calendar year 19962016, the Franchise Fee shall be paid to Grantor on or before March 31, 19972017. (b) For each succeeding calendar year during the term of this Franchise, the total annual Franchise Fee paid by Grantee to the localities shall be the base year total annual Franchise Fee increased by three (3) percent compounded annually over the term of the Franchise. For each calendar year during the term of this Franchise, Grantor's ’s percentage share shall be determined pursuant to this Section, and paid to Grantor on or before March 31 of the succeeding calendar year.

Franchise Fee. (a) Grantee shall pay to Grantor a Franchise Fee which shall be calculated pursuant to this Section. determined as follows: It is understood that Grantee has or will enter into Franchise agreements with the City of Roanoke ("Roanoke") and the City of Salem ("Salem") and the Town of Vinton ("Vinton") (Grantor, Salem, Roanoke and Vinton Salem being hereinafter sometimes collectively referred to as the "localities") with fee provisions identical to this one, and that the total annual Franchise Fee to be paid to the three localities in aggregate is $56,000 for calendar year 1996 ("base year total annual Franchise Fee"). Grantor's Franchise Fee shall be a percentage share of the base year total annual Franchise Fee, which shall be determined on a pro rata basis according to its percentage share of the total dollar value of Grantee's gas sales occurring within the localities during the calendar year. For each calendar year of the Franchise, each locality's percentage share shall be determined by the following formula: total Total dollar value of Grantee's gas sales Locality's percentage share =within the Territorial Limits of the Locality's percentage share = locality --------------------------------------------- -------------------------------------------- total dollar value of Grantee's gas sales in the three localities For calendar year 1996, the Franchise Fee shall be paid to Grantor on or before March 31, 1997. (b) For each succeeding calendar year during the term of this Franchise, the total annual Franchise Fee paid by Grantee to the localities shall be the base year total annual Franchise Fee increased by three (3) percent compounded annually over the term of the Franchise. For each calendar year during the term of this Franchise, Grantor's percentage share shall be determined pursuant to this Section, and paid to Grantor on or before March 31 of the succeeding calendar year.