Operating Payment definition

Operating Payment shall have the meaning set forth in Section 27.4 hereof.

Operating Payment means the share of Operating Costs, including but not limited to funding of the Reserve and Replacement Fund and funding of new capital, annually allocated to each User, as annually determined by the Authority. ''Operating Period" means the period in each year from July 1 to and including the following June 30, during which time the Authority is operating the Project. 'Project'' means that certain public safety radio system to be financed with the proceeds of the Bonds and all other sources of financing available to the Authority, as described in Exhibit B hereto, as the same may be amended from time to time.

Operating Payment means Tenant’s Share of the increase in Operating Expenses for a particular calendar year falling within the Term over the Operating Expenses for the Base Operating Year.

Examples of Operating Payment in a sentence

• The Partnership hereby guarantees that the HEP Operating Payment Obligations will be paid, and the HEP Performance Obligations will be performed, strictly in accordance with the terms of this Agreement.

• All amounts payable by Tenant to or on behalf of Landlord under this Lease, whether or not expressly denominated Fixed Rent, Tenant’s Tax Payment, Tenant’s Operating Payment, Additional Rent or Rent, shall constitute rent for the purposes of Section 502(b)(6) of the United States Bankruptcy Code.

• The Partnership hereby waives promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HEP Operating Payment Obligations and any requirement for HFRM to protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against HEP Operating, any other entity or any collateral.

• For each Comparison Year, Landlord shall furnish to Tenant a statement setting forth Landlord’s reasonable estimate of Tenant’s Operating Payment for such Comparison Year (the “Expense Estimate”).

• The Partnership hereby waives promptness, diligence, all setoffs, presentments, protests and notice of acceptance and any other notice relating to any of the HEP Operating Payment Obligations and any requirement for the Applicable Refinery Owner to protect, secure, perfect or insure any security interest or lien or any property subject thereto or exhaust any right or take any action against HEP Operating, any other entity or any collateral.

More Definitions of Operating Payment

Operating Payment shall have the meaning ascribed to such term in Section 3.03(a);

Operating Payment. AND "OPERATING PAYMENTS" shall each have the meaning set forth in Section 4.5 hereof.

Operating Payment means, with respect to any Operating Year, the product obtained by multiplying (x) the Operating Expenses for such Operating Year, by (y) Tenant's Operating Share.

Operating Payment means, with respect to any Operating Period, an amount equal to the Operating Expenses for such Operating Period.

Operating Payment means a disbursement to the LLC to reimburse the LLC for any fees or expenses incurred by the LLC in connection with its operations; provided, however, that Operating Payment shall not include fees or expenses which AACI is obligated to pay pursuant to Section 3.5(a) of the Operating Agreement. "paid in full" or "payment in full" or any other similar term or phrase shall mean (a) when used with respect to the Senior Obligations, payment in full in cash and (b) when used with respect to the Guarantor Obligations, payment in full in cash or with respect to the "Make Whole" Obligations of AACI, satisfaction of such obligations through the payment of cash and/or the issuance of stock as provided in the Operating Agreement.

Operating Payment means Tenant's Operational Proportionate Share multiplied by the amount, if any, by which the Operating Expenses for the subject Operational Year exceeds the Base Operating Expenses, but in no event shall the Operating Payment be less than zero.

Operating Payment means the pro-rata share of Operating Costs annually allocated to each Member, as set forth in the Operating Agreement.