Material Operating Expense Factor (MOEF) Sample Clauses

Material Operating Expense Factor (MOEF). The Settling Parties agree and recommend that the Commission approve the establishment of a Material Operating Expense Factor, or MOEF. The Settling Parties further recommend that the MOEF should become a component of the revenue requirement structure utilized by PAC in the calculation of its permanent rates in this and subsequent rate proceedings. The Settling Parties agree that the MOEF would work in similar manner to the Debt Service Revenue Requirement-0.1 (DSRR-0.1) that provides a 10% over-cover for PAC’s annual debt service obligations in order to satisfy debt lending requirements. In similar fashion, the MOEF would be a percentage factor applied to PAC’s Material Operating Expense Revenue Requirement (MOERR) as established in each rate proceeding.8 The result of which would be included in the Operating Expense Revenue Requirement (OERR) component of PAC’s overall revenue requirement. Unlike the DSRR-0.1 revenue component, which remains fixed at 10%, the MOEF would be re-evaluated and revised, as necessary, in future rate proceedings. The intended purpose of the MOEF is to sufficiently enhance the MOERR portion of PAC’s allowed revenues to better enable adequate cash flow coverage between rate cases for increases in material operating expenses experienced by the Company. The MOEF is proposed to enable PAC to adequately maintain the MOERR-RSF at its established imprest level. Thus, in each rate proceeding, the MOEF would be re-established in conjunction with the MOERR-RSF. It is anticipated that doing so would enable the MOERR-RSF to become a more effective buffer against unanticipated revenue fluctuations due to weather, which has a direct impact on the funding or reimbursement of the MOERR-RSF during any given year, as well as the impact of regulatory lag experienced by the Company, which, for PAC, is exacerbated by the fact that it is a debt-only financed utility.
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Material Operating Expense Factor (MOEF). The Settling Parties agree and recommend the Commission approve the establishment of a MOEF. The Settling Parties further recommend that the MOEF should become a permanent component of the revenue requirement structure utilized by PWW in the calculation of its permanent rates in this and subsequent rate proceedings. The Settling Parties agree that the MOEF would work in similar manner to the Debt Service Revenue Requirement-0.1 (DSRR-0.1) established in DW 16-806 that provides a 10% over-cover for PWW’s annual debt service obligations in order to satisfy debt lending requirements. In similar fashion, the MOEF would be a percentage factor applied to PWW’s Material Operating Expense Revenue Requirement (MOERR) as established in each rate proceeding.10 The result of which would be included in the Operating Expense Revenue Requirement (OERR) component of PWW’s overall revenue requirement. Unlike the DSRR-0.1 revenue component, however, which remains fixed during each succeeding rate proceeding, the MOEF would be an adjustable factor, the sufficiency of which would be re-evaluated and revised, as necessary, in succeeding rate cases.
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Related to Material Operating Expense Factor (MOEF)

  • Operating Expenses Unless modified in accordance with Exhibit D, Landlord maintenance addendum, attached hereto, it is the intention of the parties and they hereby agree that this shall be a triple net Lease, and the Landlord shall have no obligation to provide any services, perform any acts or pay any expenses, charges, obligations or costs of any kind whatsoever with respect to the Premises, and Tenant hereby agrees to pay one hundred percent (100%) of any and all Operating Expenses as hereafter defined for the entire term of the Lease and any extensions thereof in accordance with specific provisions hereinafter set forth. The term Operating expenses shall include all costs to Landlord of operating and maintaining the Building and related parking areas, and shall include, without limitation, real estate and personal property taxes and assessments, management fee, heating, electricity, water, waste disposal, sewage, operating materials and supplies, service agreements and charges, lawn care, snow removal, restriping, repairs, repaving, cleaning and custodial, security, insurance, the cost of contesting the validity or applicability of any governmental acts which may affect operating expenses, and all other direct operating costs of operating and maintaining the Building and related parking areas, unless expressly excluded from operating expenses. Notwithstanding the foregoing, operating costs (and Tenant's obligations in relation thereto) shall not include (i) any expense chargeable to a capital account or capital improvement, ground leases; principal or interest payments on any mortgage or deed of trust on the premises; (ii) any amount for which Landlord is reimbursed through insurance, by third persons, or directly by other tenants of the premises, (iii) repair costs occasioned by fire, windstorm or other casualty, (iv) any construction, repair or maintenance expenses or obligations that are the sole responsibility of Landlord (not to be reimbursed by Tenant), (v) leasing commissions and other expenses incurred in connection with leasing any other area located on the premises to any other party, (vi) any expense representing an amount paid to an affiliate or subsidiary of Landlord which is in excess of the amount which would be paid in the absence of such relationship, and (vii) costs of items and services for which Tenant reimburses Landlord or pays third persons directly.

  • Cost Share Federal and provincial governments support AgriInsurance programs by paying all administration expenses and sharing premium costs with the Insured.

  • Operating Costs The Assuming Institution agrees, during its period of use of any Leased Data Management Equipment, to pay to the Receiver or to appropriate third parties at the direction of the Receiver all operating costs with respect thereto and to comply with all relevant terms of any existing Leased Data Management Equipment leases entered into by the Failed Bank, including without limitation the timely payment of all rent, taxes, fees, charges, maintenance, utilities, insurance and assessments.

  • Direct Expenses 1. Fees and expenses of its directors (including the fees of those directors who are deemed to be "interested persons" of the Fund as that term is defined in the Investment Company Act of 1940) and the meetings thereof;

  • Cost Estimate An estimate of the total project cost including but not limited to direct expenses, indirect expenses, land cost, and capital expenses.

  • Construction Cost Estimate At 50% completion of the contract documents, the design team will present and submit copies of the project plans and manual. The Construction Administrator will prepare and issue the fourth of five construction cost estimates. The estimate shall be derived from actual takeoffs, subcontractor and vendor input, and material and labor cost data. All quantitative systems information shall be provided in detail.

  • Operation Delays STATE shall have the authority to delay or suspend the operations of PURCHASER and contractors of PURCHASER, wholly or in part, under this contract for such period or periods necessary due to fire hazard conditions, severe weather occurrence, surveying for threatened or endangered species listed under the state or federal Endangered Species Act, or any other activity STATE determines to be necessary for identification, management, or protection of a threatened or endangered species. PURCHASER agrees to cooperate with surveying efforts of STATE or its contractors. In no event shall STATE be liable for any costs incurred by PURCHASER by reason of delay or suspension under this section, including but not limited to costs of additional move-in/move-out of equipment and personnel, extra fire and equipment security, and insurance or bonding expenses.

  • ANNUAL OPERATING PLAN Purchaser may be required to submit a written annual operating plan, as specified by, and at the request of the Forest Officer.

  • ESTIMATED / SPECIFIC QUANTITY CONTRACTS Estimated quantity contracts, also referred to as indefinite delivery / indefinite quantity contracts, are expressly agreed and understood to be made for only the quantities, if any, actually ordered during the Contract term. No guarantee of any quantity is implied or given. With respect to any specific quantity stated in the contract, the Commissioner reserves the right after award to order up to 20% more or less (rounded to the next highest whole number) than the specific quantities called for in the Contract. Notwithstanding the foregoing, the Commissioner may purchase greater or lesser percentages of Contract quantities should the Commissioner and Contractor so agree. Such agreement may include an equitable price adjustment.

  • PRICE ESCALATION/DE-ESCALATION (CPI) The County may allow a price escalation provision within this award. The original contract prices shall be firm for an initial one (1) year period. A price escalation/de-escalation will be considered at one (1) year intervals thereafter, provided the Contractor notifies the County, in writing, of the pending price escalation/de-escalation a minimum of sixty (60) days prior to the effective date. Price adjustments shall be based on the latest version of the Consumers Price Index (CPI-U) for All Urban Consumers, All Items, U.S. City Average, non-seasonal, as published by the U.S. Department of Labor, Bureau of Labor Statistics. This information is available at xxx.xxx.xxx. Price adjustment shall be calculated by applying the simple percentage model to the CPI data. This method is defined as subtracting the base period index value (at the time of initial award) from the index value at time of calculation (latest version of the CPI published as of the date of request for price adjustment), divided by the base period index value to identify percentage of change, then multiplying the percentage of change by 100 to identify the percentage change. Formula is as follows: Current Index – Base Index / Base Index = % of Change % of Change x 100 = Percentage Change CPI-U Calculation Example: CPI for current period 232.945 Less CPI for base period 229.815 Equals index point change 3.130 Divided by base period CPI 229.815 Equals 0.0136 Result multiplied by 100 0.0136 x 100 Equals percent change 1.4% A price increase may be requested only at each time interval specified above, using the methodology outlined in this section. To request a price increase, Contractor shall submit a letter stating the percentage amount of the requested increase and adjusted price to the Orange County Procurement Division. The letter shall include the complete calculation utilizing the formula above, and a copy of the CPI-U index table used in the calculation. The maximum allowable increase shall not exceed 4%, unless authorized by the Manager, Procurement Division. All price adjustments must be accepted by the Manager, Procurement Division and shall be memorialized by written amendment to this contract. No retroactive contract price adjustments will be allowed. Should the CPI-U for All Urban Consumers, All Items, U.S City Average, as published by the U.S. Department of Labor, Bureau of Labor Statistics decrease during the term of the contract, or any renewals, the Contractor shall notify the Orange County Procurement Division of price decreases in the method outlined above. If approved, the price adjustment shall become effective on the contract renewal date. If the Contractor fails to pass the decrease on to the County, the County reserves the right to place the Contractor in default, cancel the award, and remove the Contractor from the County Vendor List for a period of time deemed suitable by the County. In the event of this occurrence, the County further reserves the right to utilize any options as stated herein.

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