Question: Consider the Outsourcing Agreement between WYZZ, Inc., WYZZ Licensee, Inc. and Nexstar Broadcasting of Peoria, L.L.C.; Is there a minimum commitment required under this contract?
Relevant contract clauses:
[{"span": [5464, 6591], "answer": "Within seventy-five (75) days following the end of each month of a calendar year during the Term that \"BCF\" (as defined below) for such month, when combined with BCF for all prior months during such calendar year (other than any month which is outside the Term) is less than the Minimum BCF, Nexstar shall pay a fee to WYZZ in an amount equal to thirty-five percent (35%) of BCF for such month. Within seventy-five (75) days following the end of each month of a calendar year during the Term that BCF for such month, when combined with BCF for all prior months of such calendar year (other than any month which is outside the Term) is greater than the Minimum BCF, Nexstar shall pay a fee to WYZZ in an amount equal to 50% of BCF for such month; provided, in the first month of each calendar year in which this sentence applies, the fee with respect to the portion of BCF for such month which, when combined with BCF for all prior months during such year (other than any month which is outside the Term) is exactly equal to the Minimum BCF, shall equal thirty-five percent (35%) of such portion rather than fifty percent (50%).", "file_path": "cuad/NEXSTARFINANCEHOLDINGSINC_03_27_2002-EX-10.26-OUTSOURCING AGREEMENT.txt"}, {"span": [7358, 9506], "answer": "The Minimum BCF shall be Three Million Seven Hundred Thousand Dollars ($3,700,000) for calendar year 2002 and shall be increased on January 1, 2003 and on each January 1 thereafter in an amount equal to the percentage increase in the Consumer Price Index (published by the U.S. Department of Labor, Bureau of Labor Statistics, Philadelphia Regional Office - All Urban Consumers for the United States - All Items) (the \"PI\") over the prior year. During the Term, Nexstar shall calculate BCF (the \"BCF Report\") for each calendar month. The last day of each calendar month is referred to herein as an \"End Date\". During the Term, Nexstar shall, within thirty (30) days of each End Date deliver to WYZZ-TV the BCF Report for the month ending on such End Date. Within ninety (90) days following each\n\n                                       3\n\ncalendar year during the Term, Nexstar shall notify WYZZ of the BCF for such year (the \"Final BCF Report\") and, subject to clause (h) of this Section 2, within thirty (30) days after such notification either Nexstar shall make a payment to WYZZ or WYZZ shall make a payment to Nexstar, as appropriate to \"true-up\" the payments made hereunder based on (i) the final determination of the BCF for the entire year, and (ii) the principle that the aggregate Section 2(a) Amount for the calendar year should be equal to (x) thirty-five percent (35%) of BCF for such calendar year up to the Minimum BCF for such year, plus (y) fifty percent (50%) of BCF for such calendar year in excess of the Minimum BCF for such year, minus (z) the sum of one hundred percent (100%) of any costs incurred by Nexstar during such calendar year in maintaining, replacing or purchasing capital equipment which is owned by WYZZ or which is used solely in connection with the operation of WYZZ-TV, and fifty percent (50%) of any costs incurred by Nexstar during such calendar year in maintaining, replacing or purchasing capital equipment which is not owned by WYZZ and which is used in connection with the combined operation of both Stations (in each case to the extent such costs were not otherwise deducted in the calculation of BCF).", "file_path": "cuad/NEXSTARFINANCEHOLDINGSINC_03_27_2002-EX-10.26-OUTSOURCING AGREEMENT.txt"}]