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<br />B. Subject to Section 7.C, the franchise fee due pursuant to Section 33.008 of <br />PURA, plus additional amounts which may be due, if any, in accordance with the Agreement to <br />Resolve Outstanding Franchise Issues dated January 27, 2006, shall be payable on a quarterly <br />prospective basis as follows: <br /> <br />Payment Due Date Basis Period Privilege Period <br />Sep. 10 Apr. 1 - June 30 July 1 - Sep. 30 <br />Dec. 10 July 1 - Sep. 30 Oct. 1- Dec. 31 <br />Mar. 10 Oct. 1- Dec. 31 Jan. 1 - Mar. 31 <br />June. 10 Jan. 1- Mar. 31 Apr. 1 - June 30 <br /> <br />The first payment made in accordance with this Franchise will be due and payable on September <br />10, 2006, based on the period beginning April 1, 2006 and ending June 30, 2006 for the rights <br />and privileges granted hereunder during the period July 1, 2007 and ending September 30, 2007., <br />Subsequent payments will be made on a quarterly basis as provided in the above schedule. The <br />final payment under this Franchise will be made on or before June 10,2015, based on the period <br />beginning January 1,2015 and ending March 31, 2015, for the rights and privileges beginning <br />October 1,2016 and ending December 31,2016. After the final payment date of June 10,2015, <br />Company may continue to make additional quarterly payments in accordance with the above <br />schedule. City acknowledges that such continued payments will correspond to privilege periods <br />that extend beyond the term of this franchise and that such continued payments will be <br />recognized in any subsequent franchise agreement as full payment for the relevant quarterly <br />periods. <br />C. The payment schedule outlined above in Section 7(B) becomes valid only upon <br />the effectiveness of the Agreement to Resolve Outstanding Franchise Issues dated January 27, <br />2006. In the event the January 27, 2006 settlement fails to become effective, the payment <br />schedule shall be an annual payment due on or before June 10 of each year throughout the life of <br />this franchise. The payment will be based on the preceding twelve month period ended March <br />31 (April 1 - March 31) and cover the privilege period of July 1 - June 30 following the <br />payment date. The final payment under this Franchise will be due on or before June 10, 2015 <br />based on the preceding twelve month period ended March 31, 2015 for the privilege period of <br />July 1,2015 - June 30, 2016. <br />D. The franchise fee amounts based on Discretionary Service Charges shall be <br />calculated on an annual calendar year basis, i.e., from January 1 through December 31 of each <br /> <br />7 <br />