§ A580-5. 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 municipality 2% of the gross revenues from all recurring charges in the nature of subscription fees paid by the subscribers for its cable television reception service in the Borough or any amount permitted by the New Jersey Cable Television Act. In the event that the franchise fee is increased by modification of applicable rules and regulations, such increase shall become automatically effective within 90 days following modification allowing such increase.