Future Rates Clause Samples
The "Future Rates" clause defines how interest rates, fees, or other variable charges will be determined for future periods under an agreement. Typically, this clause outlines the method for calculating these rates, such as referencing a published benchmark rate plus a margin, or specifying a process for adjusting rates at set intervals. Its core practical function is to provide transparency and predictability regarding how future financial obligations will be calculated, thereby reducing uncertainty and potential disputes between the parties.
Future Rates. Purchaser shall seek adoption of rates and charges set forth in Schedule 7.07 and so long as adopted by the IURC shall not seek additional rates during that period, subject to unforeseen circumstances and developments, unanticipated regulatory conditions or compliance costs, any need for emergency rate relief under IND. CODE § 8-1-2-113, necessary increases in rates to avoid a default under coverage or other covenants of Purchaser set forth in any applicable bond indenture or agreement and such other exceptions as shall be mutually agreed by the Parties. To the extent Purchaser is entitled to seek rate relief under this Section 7.07 or otherwise with respect to one of the Systems, it shall also have the right to do so with respect to the other System. Neither this Section nor the rates and charges set forth in Schedule 7.07 shall preclude Purchaser from seeking or obtaining approval of a distribution system improvement charge under applicable Law or deferred accounting authorizations.
Future Rates. After the Second Closing Date, the commissions, rates and fees paid by Zone Trading or any of its Affiliates to Inet ATS, Inc. with respect to any securities transactions shall not exceed those as are from time to time provided on the relevant rate schedule, if any, applicable to all broker-dealer customers of Inet ATS, Inc.
Future Rates. All interstate rates established by the TAPS Carriers for periods after December 31, 2015, whether through the FERC VTM Agreement, or otherwise if the FERC VTM Agreement expires or is terminated, shall reflect the following agreements:
(a) Starting rate base balances (in $ millions) as of December 31, 2015, are as follows:2 Land $18.245 Carrier Property in Service $9,035.029 Accrued Depreciation $8,082.052 Net Carrier Property in Service $952.977 Net AFUDC $172.382 Working Capital $65.630 Accumulated Deferred Income Taxes $158.888 Net Deferred Return $173.417 Net Trended Original Cost Rate Base $1,205.519 Construction Work in Progress $169.877
(b) The TAPS Carriers shall be permitted to amortize $300 million in Strategic Reconfiguration project costs over the remaining life of the pipeline used for FERC ratemaking depreciation purposes. This amortized amount shall be in the cost of service, but shall not be in rate base and shall not earn a return. The accrued amortization as of December 31, 2015, is $46.723 million.
(c) Except as provided in Section 6(b), the TAPS Carriers shall not include in rates any costs charged to any Authorization for Expenditure related to the Strategic Reconfiguration project (“SR AFE”). The Strategic Reconfiguration project is the project 2 The rate base balances underlying the FERC Tariff Settlement Rates in this proceeding for the years 2011 through 2014 are shown in Attachment D.
1. The SR AFEs are listed in Attachment E. Except for costs charged to the SR AFEs listed in Attachment E, no Party shall challenge the recovery of any cost included in the TAPS Carriers’ interstate rates as imprudent or otherwise impermissible on the ground that such costs, or the specific activity set that gave rise to such costs, was part of the Strategic Reconfiguration project or was otherwise found to be imprudent in Opinion No. 544; provided, however, that no costs charged to an SR AFE on Attachment E can be reassigned to AFEs that are not on Attachment E.
(d) The litigation payments referenced in Section 5 shall not be included in TAPS rates.
(e) With respect to ad valorem tax costs:
(i) If at any time during the period after December 31, 2015, the TAPS Carriers incur any supplemental ad valorem tax payments, including payments made by the TAPS Carriers pursuant to a settlement with the relevant taxing jurisdictions, associated interest charges, and any payment of opposing counsel’s legal fees related to tax obligations for a prior tax year (...
Future Rates. However, notwithstanding any provision in this Agreement to the contrary, Service Company, its successors and assigns, may establish, amend or revise, from time to time in the future, and enforce rates or rate schedules and rules and regulations covering water services to the Property. However, all such rates and rate schedules and rules and regulations so established and enforced and shall at all times be reasonable and subject to regulations and approval by the Florida Public Service Commission, or as may otherwise be provided by law. Any such initial or future decreased or increased rates, rate schedules, and rules and regulations established, amended or revised and enforced by Service Company from time to time in the future, as provided by law, shall be binding upon Developer; upon any person or other entity holding by, through or under Developer; and upon any user or consumer of the water services provided to the Property by Service Company.
Future Rates. Customer electricity rates, charges and service fees determined by the Missouri Public Service Commission are subject to change. Future rate adjustments may positively or negatively impact financial savings projected from your generation investment. Ameren Missouri makes no guarantees regarding savings based on future electricity rate projections, including those formulated by third parties. I have read, understand, and accept the provisions of Section D, subsections 1 through 9 of this Application/Agreement. Signed (Customer-Generator): Date: * Indicates Reissue ** Indicates Addition DATE OF ISSUE March 13, 2017 DATE EFFECTIVE April 12, 2017 ISSUED BY ▇▇▇▇▇▇▇ ▇▇▇▇▇ President St. Louis, Missouri INTERCONNECTION APPLICATION/AGREEMENT FOR NET METERING SYSTEMS WITH CAPACITY OF 100 kW OR LESS – (Cont'd.)