Net System Revenues definition

Net System Revenues means the Gross Revenues of the System minus Operation and Maintenance Expenses, indirect charges, amounts expended for capital replacements and repairs, required set asides for debt and replacement requirements, and any other payments from the gross revenues reasonably required for operation of the System.

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Net System Revenues means, for any Fiscal Year, the System Revenues for such Fiscal Year less the Maintenance and Operation Costs of the Wastewater System for such Fiscal Year.

Examples of Net System Revenues in a sentence

The Agreement does not permit the issuance of any debt secured by the Net System Revenues to rank senior to the Commercial Paper Notes or the Payment Obligations, other than Permitted Parity Obligations.
The Agreement creates, for the benefit and security of the Subordinated Credit Provider Reimbursement Obligations, including the Payment Obligations, the legally valid, binding and irrevocable subordinate lien on and pledge of the Net System Revenues.
Such lien and pledge shall constitute a first priority lien on Net System Revenues.
The Reimbursement Obligations owed to the Bank hereunder shall be secured by and payable from the Net System Revenues on a parity basis with the Installment Payments and the other Parity Obligations.
Such lien and pledge shall constitute a second priority lien on Net System Revenues.

Net System Revenues means, for any Fiscal Year, all System Revenues received by the Purchaser for such Fiscal Year less the Operations and Maintenance Costs for such Fiscal Year after payment of Senior Debt Service.

Net System Revenues means, for any period, the System Revenues for such period less Maintenance and Operation Costs for such period.

Net System Revenues means, for any Fiscal Year, all System Revenues received by the District for such Fiscal Year, less the Operations and Maintenance Costs for such Fiscal Year.

Net System Revenues means, for any Fiscal Year, all System Revenues received by the Purchaser for such Fiscal Year less the Operations and Maintenance Costs for such Fiscal Year.

Net System Revenues has the meaning given to that term in the Agreement.

Net System Revenues shall have the meaning ascribed thereto in the Master Resolution.