Common use of Franchise Fee Clause in Contracts

Franchise Fee. 7 Within thirty (30) days after the close of the first full billing month following the 8 effective date of this Franchise Agreement, and each month thereafter during the term of 9 this Franchise Agreement, the Company, its successors or assigns, shall pay to the City, 10 or its successors, a sum of money which is equal to six percent (6%) of the Company’s 11 Gross Revenues as defined in Section 1.E., less any adjustments for uncollectable 12 accounts, from Customers within the corporate limits of the City. The franchise fee 13 payment shall be deemed paid on time if post-marked within thirty (30) days of the close 14 of the preceding billing month.

Franchise Fee. 7 Within Subject to Section 11 below, within thirty (30) days after the close of the first full billing month following the 8 effective date of this Franchise Agreement, and each month thereafter during the term of 9 this Franchise Agreement, the Company, its successors or assigns, shall pay to the CityTown, 10 or its successors, a sum of money which is equal to six percent (6%) of the Company’s 11 Gross Revenues as defined in Section 1.E.Revenue, less any adjustments for uncollectable 12 accounts, from the sale, transportation, distribution or delivery of Natural Gas to Customers within the corporate limits of the CityTown. The franchise fee 13 payment shall be deemed paid on time if post-marked within thirty (30) days of the close 14 of the preceding billing month.