Calculation Rules Sample Clauses
Calculation Rules. For purposes of determining Transaction Loss under the New Issue Bond Program:
(1) Transaction Loss will be calculated only with respect to the Bonds actually held by the related Trust. Any Bonds that were not acquired by the Trust shall be excluded from the calculation of Transaction Loss.
(2) For purposes of calculating Transaction Loss, all payments made by the trustee for the Bonds shall be applied as principal or interest as characterized by the trustee for the Bonds in making such payment. Should the trustee for the Bonds not characterize a payment as either principal or interest, then that payment shall be characterized as required by the indenture or bond resolution for the Bonds. If the trustee for the Bonds does not characterize the payment as principal or interest and the related indenture or resolution contains no relevant terms, then the payment shall be applied first to outstanding and unpaid principal of the Bonds in the order of their stated maturity dates and then to accrued and unpaid interest on the Bonds in the order of their stated maturity dates.
Calculation Rules. 1. In no case shall the standard rate used to calculate a Transportation Capacity reduction exceed a) 1,688 bbl per hour during the first three (3) calendar months, or b) 2,250 bbl per hour for the remaining term.
2. In the event that two or more of the facilities set forth above are experiencing Service capacity reductions at the same time the highest standard rate of such facilities shall be used to calculate a Transportation Capacity reduction, except as set forth in Calculation Rule 3. 3. Notwithstanding anything to the contrary contained in this Section 4, if a) both the Large Dock and the Small Dock are unable to receive Marine Vessels during the same period of time, b) both the 8" pipeline and the 6" pipeline (after the first three (3) calendar months) are unable to move Product during the same period of time, c) two Marine Vessels are experiencing a Transportation Capacity reduction while Berthing and Vacating, or d) two or more tanks are experiencing a Transportation Capacity reduction during the same period of time, then the sum of the standard rates for such facilities shall be used to calculate a Transportation Capacity reduction.