Local Furnishing Bonds Sample Clauses

Local Furnishing Bonds. Tax-exempt bonds issued by a Transmission Owner under an agreement between the Transmission Owner and the New York State Energy Research and Development Authority (“NYSERDA”), or its successor, or by a Transmission Owner itself, and pursuant to Section 142(f) of the Internal Revenue Code, 26 U.S.C. § 142(f).
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Local Furnishing Bonds. Tax-exempt bonds utilized to finance facilities for the local furnishing of electric Energy, as described in section 142(f) of the Internal Revenue Code, 26 U.S.C. §142(f). Local Furnishing Bonds do not include Municipal Tax-Exempt Debt.
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Local Furnishing Bonds. No responsibility of the Transmission Owner ---------------------- hereunder shall conflict with the provisions of the OATT relating to facilities financed with local furnishing bonds.
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Local Furnishing Bonds. 15.6.1 Participating TOs That Own Facilities Financed by Local Furnishing Bonds
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Local Furnishing Bonds. The PTO is the sole owner of a system of electric utility facilities which are directly connected to retail customers who receive electric energy supply service and/or electric energy delivery service from the PTO (such customers, the “Local Retail Customers”; such facilities, the “Local System Facilities”). The PTO has financed or refinanced substantial portions of its Local System Facilities with proceeds from approximately $412.5 million of outstanding Local Furnishing Bonds (“LFBs”) issued by the City of Chula Vista. This includes approximately $139.0 million that financed costs of the PTO’s wholly-owned electric transmission facilities located in San Diego, Orange and Imperial Counties, and approximately $273.5 million of the PTO’s wholly-owned electric distribution facilities located in San Diego and Orange Counties. Interest on the LFBs is tax-exempt, and the PTO claims income tax deductions for interest expense on the LFBs. If the proposed Project would impair the tax-exempt status of interest on the LFBs or the deductibility of interest expense on the LFBs to the PTO under the Internal Revenue Code, Treasury Regulations and/or applicable IRS rulings (“Impairment”), the IC will be required to pay the costs properly attributable to the proposed Project if the IC fails for any reason to follow the CAISO-directed remedial measures, if any, applicable to the IC to avoid or mitigate an Impairment. Under existing IRS letter rulings issued to the PTO, a proposed interconnection might result in an Impairment if the proposed interconnection either (1) will cause the PTO to fail to be an annual net importer of electric energy (the “Amended Annual Net Importer Test”), or (2) will require the PTO to acquire any component of the Local System Facilities sooner, or will cause any component of the Local System Facilities to be built larger, more costly or with a different design than is reasonably expected to be needed to provide reliable service to the Local Retail Customers (the “Character Test”). The CAISO Tariff Section 3 states that: Nothing in this CAISO Tariff or the TCA shall compel (and the CAISO is not authorized to request) any Local Furnishing Participating TO or other Tax Exempt Participating TO to violate: (1) restrictions applicable to facilities which are part of a system that was financed in whole or part with Local Furnishing Bonds or other Tax Exempt Debt or (2) the contractual restrictions and covenants regarding the use of any transmission fac...
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Local Furnishing Bonds. Local Furnishing Bonds means the conduit revenue bonds to finance or refinance a portion of SDG&E’s costs of improvements to its local electric system in the approximate aggregate principal amount of $686 million. This includes approximately $168 million that financed transmission facilities and approximately $518 million that financed distribution facilities. They are comprised of the following series of bonds, as refunded from time to time: City of Chula Vista Series 1992 B Series 1992 C Series 1992 D Series 1996 A Series 1996 B Series 1997 A Series 2004 A Series 2004 B Series 2004 C Series 2004 D Series 2004 E Series 2004 F Series 2006 A
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Local Furnishing Bonds. 5.1 Transmission Providers That Own Facilities Financed by Local Furnishing Bonds This provision is applicable only to Transmission Providers that have financed facilities for the local furnishing of electric energy with tax- exempt bonds, as described in Section 142(f) of the Internal Revenue Code (‘‘local furnishing bonds’’). Notwithstanding any other provision of this Tariff, the Transmission Provider shall not be required to provide transmission service to any Eligible Customer pursuant to this Tariff if the provision of such transmission service would jeopardize the tax-exempt status of any local furnishing bond(s) used to finance the Transmission Provider’s facilities that would be used in providing such transmission service.
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Local Furnishing Bonds 
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Related to Local Furnishing Bonds

  • Replacement Bonds In the event that any Bond is not delivered due to any occurrence, act or event beyond the control of the Depositor and of the Trustee (such a Bond being herein called a "Special Bond"), the Depositor may so certify to the Trustee and instruct the Trustee to purchase Replacement Bonds which have been selected by the Depositor having a cost and an aggregate principal amount not in excess of the cost and aggregate principal amount of the Special Bonds not so delivered. To be eligible for inclusion in the Trust, the Replacement Bonds which the Depositor selects must: (i) for Trusts containing municipal bonds, yield current interest which is exempt from taxation for federal income tax purposes and, if the Trust is a State Trust, exempt from taxation under the personal income tax law of the particular state involved; (ii) have a fixed maturity or disposition date comparable to the bonds replaced; (iii) be purchased at a price that results in a yield to maturity and in a current return, in each case as of the execution and delivery of the applicable Reference Trust Agreement, which is approximately equivalent to the yield maturity and current return of the Special Bonds which failed to be delivered and for which the Replacement Bonds are substituted; (iv) be purchased within twenty days after delivery of notice of the failed contract to the Trustee or to the Depositor, whichever occurs first and (v) be of comparable credit quality to the Special Bond which failed to be delivered. Any Replacement Bonds received by the Trustee shall be deposited hereunder and shall be subject to the terms and conditions of this Indenture to the same extent as other Bonds deposited hereunder. No such deposit of Replacement Bonds shall be made after the earlier of (i) 90 days after the date of execution and delivery of the applicable Reference Trust Agreement or (ii) the first Distribution Date to occur after the date of execution and delivery of the applicable Reference Trust Agreement.

  • Bonds The Contractor shall furnish both a performance bond and a payment bond and shall pay the premiums thereon as a Cost of the Work. The Performance Bond shall guarantee the full performance of the Contract.

  • State Facilities If the State makes space available to the Party in any State facility during the term of this Agreement for purposes of the Party’s performance under this Agreement, the Party shall only use the space in accordance with all policies and procedures governing access to and use of State facilities which shall be made available upon request. State facilities will be made available to Party on an “AS IS, WHERE IS” basis, with no warranties whatsoever.

  • Construction Bonds In accordance with 153.54, et. seq. of the Ohio Revised Code, the recipient shall require that each of its Contractors furnish a performance and payment bond in an amount at least equal to 100 percent (100%) of its contract price as security for the faithful performance of its contract;

  • RECYCLED BOND PAPER Consistent with the Board of Supervisors’ policy to reduce the amount of solid waste deposited at the County landfills, the Contractor agrees to use recycled-content paper to the maximum extent possible on this Contract.

  • Construction Bonds, Insurance and Supervision (i) The Recipient shall require that each of its Contractors furnish a performance and payment bond in an amount at least equal to 100 percent (100%) of its contract price as security for the faithful performance of its contract.

  • Performance Bonds Buyer shall have obtained, or caused to be obtained, in the name of Buyer, replacements for Seller’s and/or Seller’s Affiliates’ bonds, letters of credit and guarantees, and such other bonds, letters of credit and guarantees to the extent required by Section 7.05.

  • Banking Facilities CLAUSE 2.29 of the Disclosure Schedule sets forth ------------------ a true, correct and complete list of:

  • Corporate Actions, Put Bonds, Called Bonds, Etc Upon receipt of Instructions, the Custodian shall: (a) deliver warrants, puts, calls, rights or similar Securities to the issuer or trustee thereof (or to the agent of such issuer or trustee) for the purpose of exercise or sale, provided that the new Securities, cash or other Assets, if any, acquired as a result of such actions are to be delivered to the Custodian; and (b) deposit Securities upon invitations for tenders thereof, provided that the consideration for such Securities is to be paid or delivered to the Custodian, or the tendered Securities are to be returned to the Custodian. Unless otherwise directed to the contrary in Instructions, the Custodian shall comply with the terms of all mandatory or compulsory exchanges, calls, tenders, redemptions, or similar rights of security ownership of which the Custodian receives notice through data services or publications to which it normally subscribes, and shall promptly notify the appropriate Fund of such action. Each Fund agrees that if it gives an Instruction for the performance of an act on the last permissible date of a period established by the Custodian or any optional offer or on the last permissible date for the performance of such act, the Fund shall hold the Custodian harmless from any adverse consequences in connection with acting upon or failing to act upon such Instructions. If a Fund wishes to receive periodic corporate action notices of exchanges, calls, tenders, redemptions and other similar notices pertaining to Securities and to provide Instructions with respect to such Securities via the internet, the Custodian and such Fund may enter into a Supplement to this Agreement whereby such Fund will be able to participate in the Custodian’s Electronic Corporate Action Notification Service.

  • Insurance and Bonds Unless otherwise specified in this Contract, Grantee shall acquire and maintain, for the duration of this Contract, insurance coverage necessary to ensure proper fulfillment of this Contract and potential liabilities thereunder with financially sound and reputable insurers licensed by the Texas Department of Insurance, in the type and amount customarily carried within the industry as determined by the System Agency. Grantee shall provide evidence of insurance as required under this Contract, including a schedule of coverage or underwriter’s schedules establishing to the satisfaction of the System Agency the nature and extent of coverage granted by each such policy, upon request by the System Agency. In the event that any policy is determined by the System Agency to be deficient to comply with the terms of this Contract, Grantee shall secure such additional policies or coverage as the System Agency may reasonably request or that are required by law or regulation. If coverage expires during the term of this Contract, Grantee must produce renewal certificates for each type of coverage. In addition, if required by System Agency, Grantee must obtain and have on file a blanket fidelity bond that indemnifies System Agency against the loss or theft of any grant funds, including applicable matching funds. The fidelity bond must cover the entirety of the grant term and any subsequent renewals. The failure of Grantee to comply with these requirements may subject Grantee to remedial or corrective actions detailed in section 10.1, General Indemnity, above. These and all other insurance requirements under the Grant apply to both Grantee and its Subcontractors, if any. Grantee is responsible for ensuring its Subcontractors’ compliance with all requirements.

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