Rate for Ring Main Clause Samples

Rate for Ring Main. (a) The Company shall pay to the Council a rate, calculated and payable quarterly, equal to such of the Loan Charges (as hereinafter defined) for that quarterly period applicable to the Company Share of Cost of Ring Main as are not capitalised pursuant to Clause 3.06. The rate shall be calculated and payable from the date when the Loan Charges applicable to the Company Share of Cost of Ring Main are first incurred by the Council until whichever is the sooner of the date when the said loan (including renewals thereof or of part thereof) shall have been repaid or the date when the Company is first supplied with water through the Tiwai Trunk Main (when at such latter time the rate shall be incorporated in the cost of water as set out in Clause