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A. A final quarterly payment has been made on or before September 10, 2016 for <br />the privilege period of July 1, 2017 through September 30, 2017 in accordance with the <br />provisions in the previous franchise. <br />B. As authorized by Section 33.008(b) of PURA, the original franchise fee factor <br />calculated for the City in 2002 was 0.002407 (the "Base Factor"), multiplied by each kilowatt <br />hour of electricity delivered by Company to each retail customer whose consuming facility's <br />point of delivery is located within the City's municipal boundaries for determining franchise <br />payments going forward. <br />Due to a 2006 agreement between Company and City the franchise fee factor was increased to <br />a franchise fee factor of 0.002527 (the "Current Factor"), multiplied by each kilowatt hour of <br />electricity delivered by Company to each retail customer whose consuming facility's point of <br />delivery is located within the City's municipal boundaries on an quarterly basis. <br />However, consistent with the 2006 agreement, should the Public Utility Commission of Texas at <br />any time disallow Company's recovery through rates of the higher franchise payments made <br />under the Current Factor as compared to the Base Factor, then the franchise fee factor shall <br />immediately revert to the Base Factor of 0.002407 and all future payments, irrespective of the <br />time period that is covered by the payment, will be made using the Base Factor. <br />Payments to the City shall be made per the quarterly schedule as follows: <br />Payment Due Date <br />December 10 <br />March 10 <br />June 10 <br />September 10 <br />Basis Period <br />Jul. 1 — Sept. 30 <br />Oct. 1 — Dec. 31 <br />Jan. 1 — Mar. 31 <br />Apr. 1 — Jun. 30 <br />Privilege Period <br />(Following Year) <br />Oct. 1 — Dec. 31 <br />Jan. 1 — Mar. 31 <br />Apr. 1 — Jun. 30 <br />Jul. 1 — Sept. 30 <br />(1.) The first quarterly payment hereunder shall be due and payable on or before December 10, <br />2016, and will cover the basis period of July 1, 2016 through September 30, 2016 and the <br />privilege period of October 1, 2017 through December 31, 2017. If this Franchise is not <br />effective prior to the first quarterly payment date, Company will pay any payments due <br />within 30 days of the effective date of this agreement. The final payment under this <br />3 <br />