Funding of Replacements Sample Clauses

Funding of Replacements. Following Acceptance, the Parties, in consultation with the Advisory Committee, shall establish a budget for the current Calendar Year and a multi-Calendar Year budget (covering as many Calendar Years as the Parties determine is prudent) for the following repairs and replacements as required for the continued operation, safety and performance of the Project Facilities during the Term of this Agreement in accordance with Best Industry Practices and/or in order to satisfy MCWRA's and MCWD's obligations under Article 9 of this Agreement (the “Replacement Budget”): (i) routine or planned expenditures for capital equipment or facilities, capital additions, capital replacements, upgrades, betterments, extensions or improvements to the Project Facilities, (ii) unplanned expenditures of the type described in clause (i) above in order to address emergency and exigent circumstances, and (iii) individual expenditures for non-routine repairs which have a cost in excess of $250,000.00 (or such other amount established by the Advisory Committee from time to time) (collectively, subsections (i) through (iii) above, the “Replacements”). Replacements shall be paid for from the Reserve Fund Payments Account (each, a “Reserve Fund Expenditure”), and the Project Escrow Account Agreement shall provide, as follows: If the Replacement is anticipated by the Replacement Budget for the current Calendar Year, MCWD or MCWRA, as applicable, shall cause the Replacement to be paid from the Reserve Fund Payments Account. If the Replacement is not anticipated by the Replacement Budget for the current Calendar Year, the Parties must approve the Replacement and the estimated cost thereof. If such approval is given, MCWD or MCWRA, as applicable, shall cause the Replacement to be paid from the Reserve Fund Payments Account. Should the Parties determine that Replacements for the MCWD Owned Facilities and/or the MCWRA Owned Facilities cannot be funded from the Reserve Fund Payments Account, MCWD, MCWRA, or both as the circumstance requires, shall use their reasonable efforts to obtain MCWD Replacement Indebtedness or MCWRA Replacement Indebtedness, as applicable, which represents the maximum, best available financing, such as tax exempt private activity bonds, notes, or other evidence of indebtedness, SRF loans, any grants or any other similar funding opportunities for the Regional Desalination Project. If such financing is not obtained or if such financing will not fund the full amount of the ...
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Related to Funding of Replacements

  • Delivery of replacements Subject to receipt of sufficient Temporary Global Notes, Permanent Global Notes, Definitive Notes, Coupons, Global Registered Notes and Individual Note Certificates in accordance with Clause 4.9 (Duties of Fiscal Agent, Registrar and Replacement Agent), the Replacement Agent shall, upon and in accordance with the instructions (which instructions may, without limitation, include terms as to the payment of expenses and as to evidence, security and indemnity) of the Issuer but not otherwise, authenticate (if necessary) and deliver a Temporary Global Note, Permanent Global Note, Definitive Note, Coupon, Global Registered Note or Individual Note Certificate as the case may be, as a replacement for any of the same which has been mutilated or defaced or which has or has been alleged to have been destroyed, stolen or lost provided, however, that:

  • Emergency Replacement SAP may replace a Subprocessor without advance notice where the reason for the change is outside of SAP’s reasonable control and prompt replacement is required for security or other urgent reasons. In this case, SAP will inform Customer of the replacement Subprocessor as soon as possible following its appointment. Section 6.3 applies accordingly.

  • Domestic Iron and Steel Certification Pursuant to Sections 2252.201-2252.205 of the Government Code, Service Provider certifies that it is in compliance with the requirement that any iron or steel product produced through a manufacturing process and used in the project is produced in the United States.

  • Card Replacement If you need to replace the Card for any reason except at the time of Card expiration, please contact (000) 000-0000 to request a replacement. You will be required to provide personal information which may include your Account number, 16-digit Card number, full name, transaction history, copies of acceptable documentation, etc. Standard shipping of your replacement card will be provided without a fee. Expedited shipping is available via FedEx; however, an Expedited Shipping Fee of $50 will be assessed.

  • Alternative Risk Financing Programs The County reserves the right to review, and then approve, Contractor use of self-insurance, risk retention groups, risk purchasing groups, pooling arrangements and captive insurance to satisfy the Required Insurance provisions. The County and its Agents shall be designated as an Additional Covered Party under any approved program.

  • Card Replacement Fee If your account is subject to a Card Replacement Fee, a fee will be charged for each replacement card that is issued to you for any reason.

  • Modifications and Updates to the Wire Center List and Subsequent Transition Periods 2.1.4.12.1 In the event BellSouth identifies additional wire centers that meet the criteria set forth in Section 2.1.4.5, but that were not included in the Initial Wire Center List, BellSouth shall include such additional wire centers in a carrier notification letter (CNL). Each such list of additional wire centers shall be considered a “Subsequent Wire Center List”.

  • Vehicle Condition and Return 3.1 Apollo will supply the Vehicle in a safe and road worthy condition, displaying a valid, current Certificate of Fitness and fitted with a number plate.

  • Loss Mitigation and Consideration of Alternatives (i) For each Single Family Shared-Loss Loan in default or for which a default is reasonably foreseeable, the Assuming Institution shall undertake reasonable and customary loss mitigation efforts, in accordance with any of the following programs selected by Assuming Institution in its sole discretion, Exhibit 5 (FDIC Mortgage Loan Modification Program), the United States Treasury's Home Affordable Modification Program Guidelines or any other modification program approved by the United States Treasury Department, the Corporation, the Board of Governors of the Federal Reserve System or any other governmental agency (it being understood that the Assuming Institution can select different programs for the various Single Family Shared-Loss Loans) (such program chosen, the “Modification Guidelines”). After selecting the applicable Modification Guideline for each such Single Family Shared-Loss Loan, the Assuming Institution shall document its consideration of foreclosure, loan restructuring under the applicable Modification Guideline chosen, and short-sale (if short-sale is a viable option) alternatives and shall select the alternative the Assuming Institution believes, based on its estimated calculations, will result in the least Loss. If unemployment or underemployment is the primary cause for default or for which a default is reasonably foreseeable, the Assuming Institution may consider the borrower for a temporary forbearance plan which reduces the loan payment to an affordable level for at least six (6) months.

  • Delinquent Child Support Obligations A child support obligor who is more than 30 days delinquent in paying child support and a business entity in which the obligor is a sole proprietor, partner, shareholder, or owner with an ownership interest of at least 25 percent is not eligible to receive payments from state funds under an agreement to provide property, materials, or services until all arrearages have been paid or the obligor is in compliance with a written repayment agreement or court order as to any existing delinquency. The Texas Family Code requires the following statement: “Under Section 231.006, Texas Family Code, the vendor or applicant certifies that the individual or business entity named in this contract, bid, or application is not ineligible to receive the specified grant, loan, or payment and acknowledges that this contract may be terminated and payment may be withheld if this certification is inaccurate.”

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