Property Additions definition

Property Additions has the meaning specified in Section 1.03.

Property Additions means, as of any particular time, any item, unit or element of property which at such time is owned by the Company and is Mortgaged Property.

Property Additions means, as of any particular time, any item, unit or element of property which at such time is owned by the Company and is subject to the Lien of this Indenture; provided, however, that Property Additions shall not include:

Examples of Property Additions in a sentence

• The Eligible Property Additions being constructed, acquired, procured or replaced are part of the Mortgagor’s Utility System.

• The Property Additions referred to in paragraph 3 are Eligible Property Additions, i.e. Property Additions acquired or whose construction was completed not more than 5 years prior to the issuance of additional Notes and Property Additions acquired or whose construction is started and/or com- pleted not more than 4 years after issuance of the additional Notes, but shall exclude any Property Additions financed by any other debt secured under the Mortgage at the time additional Notes are issued.

• The Mortgage contains restrictions on the issuance of First Mortgage Bonds based on Property Additions that are subject to other liens and upon the increase of the amount of those liens.

• Securities, fuel (including nuclear fuel unless expressly subjected to the lien of the Mortgage), automobiles or other vehicles, or property used principally for the production or gathering of natural gas will not qualify as Property Additions.

• Newly Acquired Property or Property Additions associated with Builders Risk, members are advised to report all such exposures immediately to the Fund Administrator.

More Definitions of Property Additions

Property Additions means, as of any particular time, any item, unit or element of property which (i) at such time is owned by the Company, and (ii) constitutes Mortgaged Property; provided, however, that Property Additions shall not include:

Property Additions has the meaning specified in Section 103.

Property Additions has the meaning specified in Section 1.04(a).

Property Additions means, as of any particular time, any item, unit or element of property which at such time is owned by the Company and is subject to the Lien of this Indenture. Property Additions:

Property Additions is defined in Section 1.04 hereof.

Property Additions as used herein shall mean all tangible property owned by the Company and made, constructed or otherwise acquired by it subsequent to December 31, 1975, which the Company is authorized to acquire, own and operate and which is used or useful in the business of impounding, storing, transmitting, producing, manufacturing, transporting, distribution or supplying water for any and all purposes. Permanent improvements, extensions, additions or replacements in the process or construction or erection, shall be included as Property Additions as of any particular time, insofar as actually constructed or erected after December 31, 1975, and before such particular time. There shall not be included as Property Additions (a) Excepted Property, (b) going value or good will, as such, (c) any item of property retired the retirement of which has not been credited to utility plant account, (d) any item of property acquired to replace a similar item of property whose retirement has not been credited to utility plant account, or any item of property whose cost has been charged or is properly chargeable to repairs, maintenance or other operating expense account or whose cost has been charged or is not properly chargeable to utility plant account, or (e) any property not located in the State of New Jersey or in a State contiguous thereto.

Property Additions has the meaning specified in Section 102.