Annual Refunds Sample Clauses

Annual Refunds. In addition to the Discount applicable to deliveries of the Daily Contract Quantity to Gas Purchaser under this Agreement, [Issuer]shall provide such annual refund to Gas Purchaser as may be available for distribution by [Issuer]pursuant to Section 5.15(b) of the Indenture. Such annual refund, if any, shall be paid by [Issuer]to Gas Purchaser and the other Project Participants as soon as practicable following each Annual Reconciliation Date after the release of funds for such purpose to [Issuer]under the terms of the Indenture. Gas Purchaser acknowledges and agrees that there is no assurance that any annual refund will be achieved, and that under the structure of the Project none is expected. In determining the amount of such annual refund, if any, to be paid to Gas Purchaser, [Issuer]may reserve such funds as may be required under the terms of the Transaction Documents or as it deems reasonably necessary and appropriate, including but not limited to amounts required to fund or maintain the Minimum Discount for any future Reset Period, to fund or maintain any rate stabilization or working capital reserve, and/or to reserve or account for unfunded liabilities and expenses, including future sinking fund or other principal amortization of the Bonds. All such refunds, if any, shall be made to Gas Purchaser in an amount reflecting the allocation of such refunds that the Project Management Committee recommends and the Board of Directors determines by calculating the ADQ of Gas Purchaser for the previous Annual Delivery Period and dividing Gas Purchaser’s ADQ by the aggregate total ADQ for such Annual Delivery Period of all of the Project Participants.
Sample 1
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Annual Refunds. In addition to the Monthly Discount applicable to deliveries of‌ the Daily Contract Quantity to Purchaser under this Agreement, TEAC shall provide such Annual Refund to Purchaser as may be available for distribution by TEAC pursuant to Section 5.10(b) of the Bond Indenture. Such Annual Refund, if any, shall be paid by TEAC to Purchaser and the other Project Participants as soon as practicable following the release of funds for such purpose to TEAC under the terms of the Bond Indenture. In determining the amount of such Annual Refund, if any, to be paid to Purchaser, TEAC may reserve such funds as may be required under the terms of the Bond Indenture or as it deems reasonably necessary and appropriate, including but not limited to amounts required to fund or maintain the Minimum Discount for any future Reset Period, to fund or maintain any rate stabilization or working capital reserve, and/or to reserve or account for unfunded liabilities and expenses, including future sinking fund or other principal amortization of the Bonds, or for other costs of the Prepaid Project. All such refunds, if any, shall be allocated among and paid to the Project Participants in proportion to their respective purchases for such Delivery Year. On the date of this Agreement, the projected Annual Refund for the Initial Discount Period is [ cents ($0. )] per MMBtu. ARTICLE V TERM‌
Sample 1
Annual Refunds. In addition to the Discount applicable to deliveries of the Daily Contract Quantity to Gas Purchaser under this Agreement, MMGA shall provide such annual refund to Gas Purchaser as may be available for distribution by MMGA pursuant to Section 5.15(b) of the Indenture. Such annual refund, if any, shall be paid by MMGA to Gas Purchaser and the other Project Participants as soon as practicable following each Annual Reconciliation Date after the release of funds for such purpose to MMGA under the terms of the Indenture. Gas Purchaser acknowledges and agrees that there is no assurance that any annual refund will be achieved, and that under the structure of the Project none is expected. In determining the amount of such annual refund, if any, to be paid to Gas Purchaser, MMGA may reserve such funds as may be required under the terms of the Transaction Documents or as it deems reasonably necessary and appropriate, including but not limited to amounts required to fund or maintain the Minimum Discount for any future Reset Period, to fund or maintain any rate stabilization or working capital reserve, and/or to reserve or account for unfunded liabilities and expenses, including future sinking fund or other principal amortization of the Bonds. All such refunds, if any, shall be made to Gas Purchaser in an amount reflecting the allocation of such refunds that the Project Management Committee recommends and the Board of Directors determines by calculating the ADQ of Gas Purchaser for the previous Annual Delivery Period and dividing Gas Purchaser’s ADQ by the aggregate total ADQ for such Annual Delivery Period of all of the Project Participants.
Sample 1

Related to Annual Refunds

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