Examples of System Net Revenues in a sentence
The Installment Purchase Agreement creates a valid pledge, to secure the payment of Purchase Payments by the City, of Distribution System Net Revenues to the extent legally available and, until the Crossover Date, Surplus Revenues of the Electric System, on the terms and conditions set forth therein.
The District shall punctually pay or cause to be paid the principal and interest to become due in respect of all of the 2017 Bonds, in strict conformity with the terms of the 2017 Bonds and of the Indenture, according to the true intent and meaning thereof, but only out of System Net Revenues and other assets pledged for such payment as provided in the Indenture.
The obligation of the City to make the Installment Payments under the Installment Purchase Agreement is a special obligation of the City payable solely from the System Net Revenues (as defined under the Installment Purchase Agreement), and does not constitute a debt of the City or of the State of California or of any political subdivision thereof in contravention of any constitutional or statutory debt limitation or restriction.
The City will not enter into any lease or agreement which impairs the operation of the System or any part thereof necessary to secure adequate System Net Revenues for the payment of the Installment Payments, or which would otherwise impair the rights of the Owners with respect to the System Net Revenues or the operation of the System.
This Bond and the interest, premium, if any, hereon and all other 2017 Bonds and the interest and premium, if any, thereon (to the extent set forth in the Indenture) are special obligations of the District, secured by a pledge and lien on the System Revenues and any other amounts on deposit in certain funds and accounts created under the Indenture, and payable from the System Net Revenues.
The term “Contracts” means all contracts of the District previously or hereafter authorized and executed by the District, the payments under which are payable from System Net Revenues on a parity with the 2017 Bonds and which are secured by a pledge and lien on System Revenues as described in Section 5.01 hereof; but excluding contracts entered into for operation and maintenance of the System.
Within 55 days of the end of each Bond Year, upon the Written Request of the District, an amount shall be deposited to the Rebate Fund by the Trustee from any System Net Revenues legally available for such purpose (as specified by the District in the aforesaid Written Request), if and to the extent required so that the balance in the Rebate Fund shall equal the amount of Rebatable Arbitrage so calculated in accordance with clause (i) of this subsection (a).
The obligation of the District to pay interest and principal on the 2017 Bonds is a special obligation of the District payable solely from the System Net Revenues, and does not constitute a debt of the District or of the State of California or of any political subdivision thereof (other than the District) in contravention of any constitutional or statutory debt limitation or restriction.
The obligation of the City to pay interest on, principal of and redemption premiums on, if any, the Bonds is a special obligation of the City payable solely from the System Net Revenues, and does not constitute a debt of the City or of the State of California or of any political subdivision thereof in contravention of any constitutional or statutory debt limitation or restriction.
Participial Modifier: A participial modifier is a meaningful phrase containing a participle, such as “running”, “related” etc that modifies a noun or verb phrase.