§ A126-6. Franchise fee.

Pursuant to the terms and conditions of the Act, the company shall, during each year of operation under the consent granted herein, pay to the Borough 2% of the gross revenues from all recurring charges in the nature of subscription fees paid by subscribers to its cable television reception service in the municipality or any amount permitted by the New Jersey Cable Television Act or otherwise allowed by law. In the event that the franchise fee is increased by law or practice, then the company shall increase the amount paid to the Borough equal to the increase. This requirement shall continue throughout the term of this franchise.