Weighted Factor definition
Weighted Factor means the weighted average of the annual percentage rates (averaged over the Basic Lease Term and (x) if the Pricing Assumptions contemplate the Lessor claiming investment tax credits, the basic term of all other leases so contemplating (the ITC Leases) entered into by PNM pursuant to the authority granted by the NMPSC Order or (y} if the Pricing Assumptions do not contemplate the Lessor claiming investment tax credits, the basic term of all other leases not so contemplating (the Non-ITC Leases) entered into by PNM pursuant to the authority granted by the NMPSC Order) (i) as such percentage rates may be adjusted from time to time pursuant to the terms of the Facility Lease and the ITC Leases or the Non-ITC Leases, as the case may be, but excluding any such adjustments in connection with supplemental financing of capital improvements, and (ii) adjusted to reflect the amortization over the Basic Lease Term and the basic term of the ITC Leases or the Non-ITC Leases, as the case may be, of any gain or loss to the Lessee from any hedging or interest protection program implemented by the Lessee with respect to the Notes and with respect to the comparable notes to be issued with respect to the ITC Leases or the Non-ITC Leases, as the case may be, which, when multiplied by the aggregate of the Purchase Price and the. comparable purchase prices payable by the lessors under the ITC Leases or the Non-ITC Leases, as the case may be, determines, respectively, the amount of Basic Rent payable under the Facility Lease and the comparable basic rent payable under the ITC Leases or the Non-ITC Leases, as the case may be.