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12.4.2. Commence an action at law for monetary damages or seek other equitable relief; or 12.4.3. In the case of a substantial default of a material provision of the Franchise, seek to revoke the Franchise in accordance with Section 12.6; or 12.4.4. Draw from the Letter of Credit required of Franchisee in Section 12.5 of this Agreement pursuant to the procedure set forth in section 12.5.2. 12.4.5. Liquidated Damages: Enforce the following liquidated damages for the following violations of this Agreement, because such violations will result in injury to the LFA, and because it is and will be impracticable to determine the actual amount of such damage in the event of delay or nonperformance: 12.4.5.1. For failure to comply with the reporting requirements as set forth in Article 8 and Exhibit B of this Agreement: One hundred dollars ($100.00) per day for each day the violation continues; 12.4.5.2. For failure to materially comply with the carriage of PEG Access Channel requirements as set forth in Section 5.1 of this Agreement: Two hundred dollars ($200.00) per day for each day the violation continues; 12.4.5.3. For failure to materially comply with Customer Service Standards set forth in Exhibit B of this Agreement: One hundred -fifty dollars ($150.00) per day for each day the violation continues, except where compliance is measured quarterly, in which case liquidated damages shall be as follows: (a) Franchisee shall be liable for liquidated damages in the amount of one thousand dollars ($1,000.00) for each quarter in which such standards were not met if the failure was by less than five percent (5%); two thousand dollars ($2,000.00) for each quarter in which such standards were not met if the failure was by five percent (5%) or more but less than fifteen percent (15%); and three thousand dollars ($3,000.00) for each quarter in which such standards were not met if the failure was by fifteen percent (15%) or more. 12.4.5.4. For purposes of any liquidated damages assessments, all similar violations or failures arising out of the same factual events affecting multiple Subscribers shall be assessed as a single violation, and a violation or a failure may only be assessed under any single one of the above -referenced categories. Violations or failures shall not be deemed to have occurred or commenced until they are deemed not cured as provided in Section 12.2. 12.4.6. The amount of all liquidated damages per annum shall not exceed fifteen thousand dollars ($15,000.00) in the aggregate. 12.5. Letter of Credit: Franchisee shall maintain throughout the term of this Agreement an irrevocable letter of credit as set forth in this Section 12.5 (the "Letter of Credit") and in substantially the same form as attached hereto in Exhibit C. The Letter of Credit shall be in the amount of ten thousand dollars ($10,000.00); provided, however, that the Franchisee shall increase the amount of the Letter of Credit to an amount equivalent to that provided in a letter of credit by any other cable operator in the Franchise Area up to a maximum of twenty thousand