Amount and Determination of the Customer Facility Charge Sample Clauses

Amount and Determination of the Customer Facility Charge. 6.2.5.1 Subject only to covenants made in connection with the issuance of any Bonds, the Port shall have the sole authority to determine the amount of the Customer Facility Charge. The Customer Facility Charge may specifically be established and set at a level sufficient to cover any costs authorized by Section 14.08.120(7) of the Revised Code of Washington; provided, however, the Port agrees that it shall not use the Customer Facility Charge to pay: (i) any Costs of the Small Operator Improvements or Additional Small Operator Improvements, (ii) any Costs of Additional Special Facilities unless the Port had the right to undertake the Additional Special Facilities under Section 2.5.1 or, with respect to any Additional Special Facilities the Port did not have the right to make under Section 2.5.1, unless the Port complied with Section 2.5.2, (iii) any costs associated with the Port’s maintenance of the Reserved Areas under Section 15.2.2.2, (iv) any costs associated with the Port’s maintenance of the Special Airport Systems under Section 15.2.2.3, or (v) any costs for restoration of the Consolidated Rental Car Facility under ARTICLE 20 where, and to the extent, property insurance proceeds are available and paid to the Port. Without limiting the foregoing authority, the parties acknowledge and agree that the Port expects to set the amount of the Customer Facility Charge (when multiplied by the total annual number of Transaction Days) at an annual level sufficient to cover the Bond Obligations; the Costs of the CFC Administration; subject to Section 2.5, the Cost of the Additional Special Facilities (if any); subject to Section 12.3.5, the Common Transportation Costs; plus an amount, as reasonably determined by the Port, sufficient to fund the future projected costs associated with Major Maintenance. In setting the level of the Customer Facility Charge the Port specifically has the right to establish one or more reserve funds that it reasonably believes to be prudent to either minimize significant year-over-year increases or decreases in the level of the Customer Facility Charge (e.g. a rate stabilization fund) or meet future needs associated with the Consolidated Rental Car Facility, Consolidated Rental Car Facility Site or Common Transportation System that are not best funded on a current basis (e.g. a fund to address Major Maintenance or BMF Major Maintenance). Nothing in the former sentence, however, shall permit the Port to establish a reserve fund for pu...
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Related to Amount and Determination of the Customer Facility Charge

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