Rate Cases Sample Clauses

Rate Cases. Between the date of this Agreement and the Closing, the Company and its Subsidiaries shall be permitted to continue to diligently pursue the rate cases set forth on Section 6.5(f) of the Company Disclosure Letter (collectively, the “Rate Cases”) consistent with past practice, and to the extent permitted by Law, notify Parent about any material developments, or material communications with the FERC or the applicable State Commission, relating thereto. Except as required by Exhibit B, prior to making any commitments or settlement offers in the Rate Cases, the Company shall (and shall cause its Subsidiaries to) consult with Parent and consider in good faith any suggestions made by Parent in connection therewith. The Company shall not (and shall cause its Subsidiaries not to) settle the Rate Cases without the prior written consent of Parent (such consent not to be unreasonably withheld, conditioned or delayed) to the extent that such settlement would result in an outcome for the Company and its Subsidiaries that would be materially adverse to the Company or any of its Subsidiaries, taking into account the requests made by the Company and its Subsidiaries in the proceeding, the resolution of similar recent proceedings by the Company and its Subsidiaries and the reasonable expectations of Parent as of the date hereof for such outcome.
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Rate Cases. Arizona Bermuda Water Co. – Xxxxxx Xx. X-00000X-00-0000 Xxxxxxx Xxxxxxx Utility Services – Docket No. 10-001 Cypress Lakes Utilities Inc. – Docket No. 090349-WS Labrador Utilities Inc. – Docket No. 110264-WS Lake Placid Utilities Inc. – Docket No. 090531-WS Lake Utility Services Inc. – Docket No. 100426-WS Mid-County Services Inc. – Docket No. 090381-XX Xxxxx Creek Utility Services – Docket No. 10-002 Sanlando Utilities Corp – Docket No. 110257-WS Tierra Verde Utilities Inc. – Docket No. 080248-SU Utilities Inc. of Eagle Ridge – Docket No. 110153-SU Utilities Inc. of Florida – Docket No. 090462-WS Utilities Inc. of Longwood – Docket No. 090381-SU Utilities Inc. of Pennbrooke – Docket No. 090392-WS Utilities Inc. of Sandalhaven – County regulated, so no docket number assigned.
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Rate Cases. In connection with any filings made with respect of the rates for any Utility Subsidiary, Seller shall cause Company and the Subsidiaries to (a) provide Purchaser with an opportunity to review and comment on any such filing, (b) give reasonable consideration to all comments provided by Purchaser and (c) reasonably consult with Purchaser from time to time with respect to the status thereof. Seller shall not make any filing nor take any position in any such filing that, individually or in the aggregate, would be expected to have a Company Material Adverse Effect.
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Rate Cases. Between the date of this Agreement and the Closing, Seller hereby agrees to cause the Company and its Subsidiaries to continue to diligently pursue the Rate Cases consistent with past practice, and to the extent permitted by Law and Governmental Order, notify Purchaser about any material developments, or material communications with FERC or the State Commissions, relating thereto. Except as required by Section 5.14 and Exhibit B, prior to making any commitments or settlement offers in the Rate Cases, Seller shall cause the Company and its Subsidiaries to consult with Purchaser and to consider in good faith any suggestions made by Purchaser in connection therewith. Seller shall not permit the Company or its Subsidiaries to settle the Rate Cases without the prior written consent of Purchaser (such consent not to be unreasonably withheld, conditioned or delayed) to the extent that such settlement would result in an outcome for the Company and its Subsidiaries that would be materially adverse to the Company or any of its Subsidiaries, taking into account the requests made by the Company and its Subsidiaries in the proceeding, the resolution of similar recent proceedings under similar circumstances in the utility industry and the reasonable expectations of Purchaser as of the date hereof for such outcome.
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Rate Cases. On December 1, 1998, Stingray filed a rate case with the FERC (Docket No. RP99-166) which reflected a proposed annual revenue increase of $3.5 million. The timing of the rate case filing was in accordance with the requirements of Stingray's previous rate case settlement in Docket No. RP94-301. The FERC issued an order on December 30, 1998 which suspended the rates to be effective, subject to refund, until June 1, 1999. As of December 31, 2000 and 1999, Stingray has recorded a reserve of approximately $7.5 million and $3.6 million, respectively, for rates subject to refund. Major issues in the rate case included throughput levels used in the design of rates, levels of depreciation rates, return on investment and the overall cost of service, which included a management fee. Settlement discussions with parties to the rate case are underway. This matter is currently pending the Administrative Law Judge's initial decision with regard to the hearing held in December 1999. On September 18, 1995, by letter order, the FERC approved the settlement of HIOS' and UTOS' rate filings (Docket No. RP94-162 and RP94-161, respectively) which required that HIOS and UTOS file a new rate case within three years. On October 8, 1998, the FERC granted a request for an extension of time for the filing of their next general rate case until January 1, 2003. Costs incurred in connection with the extension of the rate case settlement have been deferred and are being amortized on a straight-line basis through the period ending December 31, 2002. NOTE 5 -- INDEBTEDNESS We are a party to credit agreements under which we have outstanding obligations that may restrict our ability to pay distributions to our respective owners. 82 85 DEEPWATER HOLDINGS, L.L.C. AND SUBSIDIARIES (A LIMITED LIABILITY COMPANY) NOTES TO CONSOLIDATED FINANCIAL STATEMENTS -- (CONTINUED) We have a revolving credit facility with a syndicate of commercial banks to provide up to $175 million of available credit, subject to incurrence limitations. At our election, interest under our credit facility is determined by reference to the reserve-adjusted London interbank offer rate, the prime rate or the 90-day average certificate of deposit. As of December 31, 2000, we had $157 million outstanding under our credit facility bearing interest at approximately 8.15% per year, and as of December 31, 1999, we had $122 million outstanding under our credit facility bearing interest at approximately 7.27% per year. A commitment fee is...
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Related to Rate Cases

  • Rates of Interest Borrowers jointly and severally agree to pay interest in respect of all unpaid principal amounts of the Revolver Loans from the respective dates such principal amounts are advanced until paid (whether at stated maturity, on acceleration or otherwise) at a rate per annum equal to the applicable rate indicated below:

  • Interest Rate Computations All interest hereunder shall be computed on the basis of a year of 360 days, unless such computation would exceed the Highest Lawful Rate, in which case interest shall be computed on the basis of a year of 365 days (or 366 days in a leap year), except that interest computed by reference to the Alternate Base Rate at times when the Alternate Base Rate is based on the Prime Rate shall be computed on the basis of a year of 365 days (or 366 days in a leap year), and in each case shall be payable for the actual number of days elapsed (including the first day but excluding the last day). The applicable Alternate Base Rate, Adjusted LIBO Rate or LIBO Rate shall be determined by the Administrative Agent, and such determination shall be conclusive absent manifest error, and be binding upon the parties hereto.

  • Money Market Borrowings (a) In addition to Committed Borrowings pursuant to Section 2.01, the Borrower may, as set forth in this Section, request the Banks during the Revolving Credit Period to make offers to make Money Market Loans to the Borrower. The Banks may, but shall have no obligation to, make such offers and the Borrower may, but shall have no obligation to, accept any such offers in the manner set forth in this Section.

  • Interest Rate Agreements 13 Investment..................................................................13

  • Interest Rate Cap Agreement (a) The Interest Rate Cap Agreement in effect on the Closing Date has a LIBOR strike price equal to the Strike Price and a scheduled termination date of the Initial Maturity Date. The Interest Rate Cap Agreement (i) is in a form and substance reasonably acceptable to Lender, (ii) is with an Acceptable Counterparty, (iii) directs such Acceptable Counterparty to pay directly to an account pledged to Lender any amounts due Borrower under such Interest Rate Cap Agreement unless and until otherwise instructed by Lender (it being agreed as between Lender and Borrower that Lender will so instruct the Counterparty at such time as the Debt shall no longer exist, provided that the Debt shall be deemed to exist if the Properties are transferred by judicial or non-judicial foreclosure or deed-in-lieu thereof), and (iv) has a notional amount at least equal to the principal balance of the Loan outstanding on the Closing Date (it being understood that the notional amount of the Interest Rate Cap Agreement may be reduced, from time to time, as the principal balance of the Loan is reduced (in the amounts of such reduction in principal) pursuant to clause (g) below). Borrower shall collaterally assign to Collateral Agent (for the benefit of Lender), pursuant to the Collateral Assignment of Interest Rate Cap Agreement, all of its right, title and interest to receive any and all payments under the Interest Rate Cap Agreement, and shall deliver to Collateral Agent an executed counterpart of such Interest Rate Cap Agreement (which shall, by its terms, authorize the assignment to Collateral Agent (for the benefit of Lender) and require that payments be paid directly into an account pledged to Collateral Agent (for the benefit of Lender) as provided above in this Section 2.2.7). Provided no Event of Default has occurred and is continuing, amounts contained in the foregoing pledged account shall be released to Borrower on a monthly basis to the extent not applied toward debt service on the Loan.

  • Currency and Funds of Payment All Guarantors’ Obligations for payment will be paid in lawful currency of the United States of America and in immediately available funds, regardless of any law, regulation or decree now or hereafter in effect that might in any manner affect the Guaranteed Liabilities, or the rights of any Secured Party with respect thereto as against the Borrower or any other Loan Party, or cause or permit to be invoked any alteration in the time, amount or manner of payment by the Borrower or any other Loan Party of any or all of the Guaranteed Liabilities.

  • Fixed Rate Loans Each Mortgage Loan bears interest at a rate that remains fixed throughout the remaining term of such Mortgage Loan, except in the case of an ARD Loan after its Anticipated Repayment Date and except for the imposition of a default rate.

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