Rate Covenant and Fees Sample Clauses

Rate Covenant and Fees. The Issuer represents that it has fixed and covenanted that it will fix, maintain and collect just, equitable and sufficient Fees and will operate the Auxiliary Facilities so as to produce Gross Operating Revenues, which combined Fees and Gross Operating Revenues shall at all times produce Pledged Revenues sufficient, when combined with other moneys legally available to be used for such purposes, to make the prescribed payments into the funds and accounts created under this Indenture. The Issuer will, from time to time, take all action within its power to revise the then existing schedules of Fees and to operate the Auxiliary Facilities so as to provide for all reasonable Operating Expenses and leave Net Pledged Revenues, amounts earmarked for capitalized interest and other moneys legally available to be used for such purposes, each Fiscal Year equal to at least % of Maximum Annual Debt Service. If Debt Service Charges are not paid in accordance with Section 5.04 hereof, no Pledged Revenues may be used for Operating Expenses or any other purposes other than the payment of Debt Service Charges, but shall be paid directly to the Trustee.
Sample 1
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Rate Covenant and Fees. The Lessee has fixed and will assess and maintain just and equitable Fees, which shall at all times be adequate to produce Pledged Revenues sufficient to make the prescribed payments into the funds and accounts created under this Indenture. The amount of the Fees shall be revised from time to time to provide Pledged Revenues each Fiscal Year equal to at least 100% of Maximum Annual Debt Service.
Sample 1

Related to Rate Covenant and Fees

  • Rate Covenant Purchaser will establish, maintain and collect rates and charges for the electric service of its electric system each year so as to provide revenues sufficient, together with any legally available electric system reserves, to enable Purchaser to pay to SCPPA all amounts payable when due under this Agreement and to pay all other amounts payable from, and all lawful charges against or liens on, the revenues of its electric system.

  • Payment and Fees 4.1 Invoices will be sent via email and invoiced amounts include applicable sales taxes and VAT.

  • Computation of Interest and Fees All computations of interest for Base Rate Loans (including Base Rate Loans determined by reference to the Eurodollar Rate) shall be made on the basis of a year of 365 or 366 days, as the case may be, and actual days elapsed. All other computations of fees and interest shall be made on the basis of a 360-day year and actual days elapsed (which results in more fees or interest, as applicable, being paid than if computed on the basis of a 365-day year). Interest shall accrue on each Loan for the day on which the Loan is made, and shall not accrue on a Loan, or any portion thereof, for the day on which the Loan or such portion is paid, provided that any Loan that is repaid on the same day on which it is made shall, subject to Section 2.12(a), bear interest for one day. Each determination by the Administrative Agent of an interest rate or fee hereunder shall be conclusive and binding for all purposes, absent manifest error.

  • Special Covenants If any Company shall fail or omit to perform and observe Section 5.7, 5.8, 5.9, 5.11, 5.12, 5.13 or 5.15 hereof.

  • Interest and Fees 24 3.1 Interest................................................................................24 3.2

  • Refinancing Preparation Advance; Capitalizing Front-end Fee and Interest (a) If the Loan Agreement provides for the repayment out of the proceeds of the Loan of an advance made by the Bank or the Association (“Preparation Advance”), the Bank shall, on behalf of such Loan Party, withdraw from the Loan Account on or after the Effective Date the amount required to repay the withdrawn and outstanding balance of the advance as at the date of such withdrawal from the Loan Account and to pay all accrued and unpaid charges, if any, on the advance as at such date. The Bank shall pay the amount so withdrawn to itself or the Association, as the case may be, and shall cancel the remaining unwithdrawn amount of the advance.”

  • Financial Covenants Section 4.01. (a) The Borrower shall maintain or cause to be maintained records and accounts adequate to reflect in accordance with sound accounting practices the operations, resources and expenditures in respect of the Project of the departments or agencies of the Borrower responsible for carrying out the Project or any part thereof.

  • Specific Obligations The HSP:

  • Payments and Fees Customer must pay the Fees according to the payment terms in the Sales Order in the currency stated. All invoices will only be delivered electronically using the billing and contact information provided by Customer. Customer agrees to provide clear indication with its payment as to which invoices (or portions thereof) the payment should be applied. Alternatively, these payment details can be emailed to Xxxxxxx@Xxxxxxx.xxx no later than the date of payment.

  • Dues and Fees Grantee certifies that it is not prohibited from receiving an Award because it pays dues or fees on behalf of its employees or agents, or subsidizes or otherwise reimburses them for payment of their dues or fees to any club which unlawfully discriminates (775 ILCS 25/1 et seq.).

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