Major Maintenance Expenses definition

Major Maintenance Expenses. The meaning ascribed thereto in Section 9.8(c).

Major Maintenance Expenses means expenses for an item of maintenance or repair of the Complex which will require a material expenditure and which is anticipated to be performed in accordance with manufacturers’ recommendations, sound engineering practices or Prudent Utility Practices but which is not expected to be performed on an annual or more frequent basis.

Major Maintenance Expenses means all costs, expenses, fees and other charges (including liquidated damages or other damages or penalties) incurred by the Company and its Subsidiaries during such period for major maintenance of the Facilities under the Master Maintenance Services Agreement or otherwise.

Examples of Major Maintenance Expenses in a sentence

• In no event shall Revenues or amounts on deposit in the Trust Agreement Funds be used to pay for Operating Expenses, Major Maintenance Expenses or Capital Expenditures relating to the operation and maintenance of the Project to standards higher than the Project Agreement Standards, and Borrower shall use any other legally available funds for such purposes.

• In no event shall the proceeds of advances under the Toll Equity Loan Commitment be used to pay for Operating Expenses, Major Maintenance Expenses or Capital Expenditures in excess of the Project Budget or to operate and maintain the Project to standards higher than the Project Agreement Standards, and Borrower shall use any other legally available funds for such purposes.

• Borrower shall be responsible for obtaining funding from sources other than Senior Project Debt or advances under the Toll Equity Loan Commitment in the event Project Costs, Capital Expenditures, the Upfront Payment and Operating Expenses and Major Maintenance Expenses are higher than the Project Budget.

• Commencing one year after the Service Commencement Date, Borrower may be reimbursed out of moneys in the General Fund for Operating Expenses, Major Maintenance Expenses and Capital Expenditures made by the Borrower for such purposes from such other sources.

• The Authority shall pay the costs of Major Maintenance Expenses first from the Project Budget Account of the Major Maintenance Fund and then, to the extent amounts in such account are insufficient, from the Annual Operating Budget Account of the Major Maintenance Fund.

More Definitions of Major Maintenance Expenses

Major Maintenance Expenses means all costs, expenses, fees and other charges (including liquidated damages or other damages or penalties) incurred by the Borrower and its Subsidiaries during a period for major maintenance of the Facilities under the Master Maintenance Services Agreement or otherwise.

Major Maintenance Expenses means all expenditures by the Borrower on regularly scheduled (or reasonably anticipated) maintenance of the Project in accordance with good utility practice and vendor and supplier requirements constituting major maintenance (including, without limitation, teardowns, overhauls, capital improvements, replacements and/or refurbishment of major components of the Project).

Major Maintenance Expenses all costs, other than administrative costs and costs incurred in connection with the day-to-day operation and maintenance of the Project, incurred by the Borrower in accordance with Prudent Industry Practice for any overhaul of, or major maintenance procedure for, the Project or any part thereof (excluding any such costs that are payable by other Persons under warranty or similar agreements or insurance policies).

Major Maintenance Expenses has the meaning given in the Depositary Agreement.

Major Maintenance Expenses all costs, other than administrative costs, costs incurred in connection with the day-to-day operation and maintenance of the Project, and all scheduled payments pursuant to the Vestas Services and Maintenance Agreement incurred by the Borrower in accordance with Prudent Industry Practice for any overhaul of, or major maintenance procedure for, the Project or any part thereof (excluding any such costs that are payable by other Persons under warranty or similar agreements or insurance policies).

Major Maintenance Expenses all costs, other than administrative costs and costs incurred on an annual basis in connection with the normal maintenance of the Facility, incurred by the Borrower for any overhaul of, or major maintenance procedure for, the Facility or any part thereof which requires significant disassembly or shutdown of the Facility and which are incurred pursuant to manufacturers' guidelines or recommendations, engineering or operating considerations or the requirements of any applicable Governmental Approval (excluding any such costs that are payable by other Persons under warranty or similar agreements or insurance policies).

Major Maintenance Expenses means the reasonable and necessary expenses (but excluding non-cash expenses such as depreciation, depletion and amortization) of repair and maintenance of the Project that do not occur at annual or shorter periods, as determined by the Borrower, including, without limiting the generality of the foregoing, periodic roadway resurfacing and repair, replacement of toll collection, vehicle identification, toll integration and video enforcement equipment, and all administrative and engineering expenses relating to the repair and maintenance of the Project and any other maintenance expenses required to be paid by the Borrower, provided, however, that Major Maintenance Expenses shall exclude Operating Expenses.