RATE COVERAGE Sample Clauses

RATE COVERAGE. The Local Government shall maintain rates and charges for the services furnished by the Water and Sewer Systems which will be sufficient to provide, in each Fiscal Year, Pledged Revenues equal to or exceeding 1.15 times the sum of the Semiannual Loan Payments due in such Fiscal Year. In addition, the Local Government shall satisfy the coverage requirements of all Senior Revenue Debt and Parity Debt obligations.
Sample 1Sample 2See All (7)
AutoNDA by SimpleDocs
RATE COVERAGE. The Borrower shall, subject to the remainder of this paragraph, fix, charge and collect rates and charges such that Net Cash Flow in each Calculation Period through the Final Maturity Date shall be projected to produce (i) a Senior Debt Service Coverage Ratio at least equal to [____] in each such Calculation Period, (ii) a Total Debt Service Coverage Ratio at least equal to [___] in each such Calculation Period, and (iii) a TIFIA Loan Life Coverage Ratio at least equal to [_____] as of each Calculation Date through the Final Maturity Date (clauses (i), (ii), and (iii) collectively, the “Rate Coverage Test”). If the forecast furnished by the Borrower pursuant hereto demonstrates that projected Net Cash Flow may be inadequate to satisfy the Rate Coverage Test for any Calculation Period until the Final Maturity Date, or if the Borrower fails to satisfy the Rate Coverage Test in respect of any Calculation Period then ended, the Borrower shall (x) within [thirty (30)] days after request by the TIFIA Lender, engage the [Traffic Consultant] to review and analyze the operations of the Project and recommend actions regarding revising the rates or changing the methods of operations, or any other actions to increase the Net Cash Flow so as to satisfy the Rate Coverage Test, (y) cause the [Traffic Consultant] to issue its report, including any such recommended actions, no later than [ninety (90)] days following such engagement, and (z) either (A) implement the [Traffic Consultant’s] recommendation or (B) undertake an alternative course of action after demonstrating to the TIFIA Lender’s satisfaction the manifest errors contained in the [Traffic Consultant’s] recommended actions, or to the extent agreed upon by the TIFIA Lender, undertake an alternative course of action that will ensure the Borrower’s ability to meet its payment obligations under this Agreement.111
Sample 1See All (6)
RATE COVERAGE. The Project Sponsor shall maintain rates and charges for the services furnished by the Water and Sewer Systems which will be sufficient to provide, in each Fiscal Year, Pledged Revenues equal to or exceeding 1.15 times the sum of the Semiannual Loan Payments due in such Fiscal Year. In addition, the Project Sponsor shall satisfy the coverage requirements of all Senior Revenue Debt and Parity Debt obligations.
Sample 1Sample 2See All (5)
RATE COVERAGE. The Local Borrower shall maintain rates and charges for the services furnished by the Sewer System which will be sufficient to provide, in each Fiscal Year, Pledged Revenues equal to or exceeding 1.15 times the sum of the Semiannual Loan Payments due in such Fiscal Year. In addition, the Local Borrower shall satisfy the coverage requirements of all senior and parity debt obligations.
Sample 1
RATE COVERAGE. All terms used in this Section 16(m) that are not otherwise defined in this Agreement shall have the meanings assigned to such terms in the Indenture.
Sample 1
RATE COVERAGE. 48 The Borrower shall, subject to the remainder of this paragraph, fix, charge and collect rates and charges such that Net Cash Flow in any Calculation Period shall be projected to produce (i) a Senior Debt Service Coverage Ratio at least equal to [ ] in such Calculation Period and (ii) a Total Debt Service Coverage Ratio at least equal to [ ] in such Calculation Period (clauses (i) and (ii) collectively, the “Rate Coverage Test”). If the forecast furnished by the Borrower pursuant hereto demonstrates that projected Net Cash Flow may be inadequate to satisfy the Rate Coverage Test for any Calculation Period until the Final Maturity Date, or if the Borrower fails to satisfy the Rate Coverage Test in respect of any Calculation Period then ended, the Borrower shall (A) within [thirty (30)] days after request by the TIFIA Lender, engage the Traffic Consultant to review and analyze the operations of the Project and recommend actions regarding revising the rates or changing the methods of operations, or any other actions to increase the Net Cash Flow so as to satisfy the Rate Coverage Test,
Sample 1
RATE COVERAGE. The Local Government shall maintain rates and charges for the services furnished by the System which, together with impact fees, will be sufficient to provide, in each Fiscal Year, Pledged Revenues equal to or exceeding 1.15 times the sum of the Semiannual Loan Payments due in such Fiscal Year.
Sample 1
AutoNDA by SimpleDocs

Related to RATE COVERAGE

  • Life Coverage Paragraph 1: The Board shall provide a group term life coverage in the sum of $30,000 for all teachers employed half time or more. Any increases in coverage shall not be effective until the teacher reports or is able to report for work.

  • Single Coverage The School District will pay up to $28.00 per month for individual coverage for each full-time teacher who qualifies for and enrolls in the School District's group dental insurance plan.

  • Insurance Coverage The Company and each Subsidiary maintains in full force and effect insurance coverage that is customary for comparably situated companies for the business being conducted and properties owned or leased by the Company and each Subsidiary, and the Company reasonably believes such insurance coverage to be adequate against all liabilities, claims and risks against which it is customary for comparably situated companies to insure.

  • Retiree Coverage Pre-Medicare: Employees who retire on or after January 1, 2011, will be provided the same health care benefits, including but not limited to, cost sharing, that it provides to its active employees until the retiree becomes eligible for Medicare. In the event health care benefits for active employees are eliminated in their entirety, which shall include a change to a one-hundred (100%) percent employee contributory health savings plan, the last health care benefits plan in effect for retirees preceding the elimination of the plan shall remain in effect (absent a contrary order from a Court of competent jurisdiction) until the Employer again provides a health care benefits plan to active employees. Medicare: Retirees must enroll in the Part B Medicare program commencing on the date they first become eligible to participate in the program. Retirees shall be responsible for the cost of such coverage. The Employer shall make available to those retirees who are properly enrolled in the Part B Medicare Program as above provided, a Supplemental Plan, with a $100 deductible. Such Plan will have the same Rx drug benefits the County provides its active employees. In the event Rx drug benefits for active employees are eliminated in their entirety, which shall include a change to a one-hundred (100%) percent employee contributory health savings plan, the Rx drug benefits last in effect for retirees preceding the elimination of the Rx drug benefits for active employees shall remain in effect (absent a contrary order from a Court of competent jurisdiction) until the Employer again provides Rx drug benefits to active employees.

  • Double Coverage County employees may have double coverage under County-sponsored medical plans.

  • Insurance Coverages The Contractor shall procure and maintain, at its sole cost and expense, in a form and content satisfactory to City, during the entire term of this Agreement including any extension thereof, the following policies of insurance which shall cover all elected and appointed officers, employees and agents of City:

  • Life Insurance Coverage a. Fifteen Thousand ($15,000) Dollars life insurance policy with AD&D from an insurance carrier selected by the Board, subject to the provisions of this section. Such insurance shall pay double in the case of accidental death or dismemberment.

  • Insurance Coverage Requirements 8.25.1 General Liability insurance written on ISO policy form CG 00 01 or its equivalent with limits of not less than the following: General Aggregate: $2 million Products/Completed Operations Aggregate: $1 million Personal and Advertising Injury: $1 million Each Occurrence: $1 million

  • Other Insurance Coverage When another policy is in existence which provides benefits also covered by this policy, benefits will be coordinated. All claims incurred in the country of residence must be made in the first instance against the other policy. This policy shall only provide benefits when such other benefits payable under the other policy have been exhausted. Outside the country of residence, Bupa Insurance Company will function as the primary Insurer and retains the right to collect any payment from local or other insurers.

  • TAM Service Coverage Each TAM Service Subscription will be limited to certain parameters (that is, a region, a customer team and/or a product line) and will be listed in the Order Form and, if not listed, the TAM parameters will be established upon the initiation of the TAM Service. • Regions: North America, Latin America, EMEA, Asia-Pacific (excluding Japan, China and India), China, India or Japan. • Customer Team: The customer team supported by the TAM, such as your development team, your system administration team, your support team, etc. • Red Hat Product Line: The supported Red Hat product line, such as the Red Hat Enterprise Linux, Red Hat JBoss Middleware, Red Hat Storage or Red Hat Cloud product lines.

Time is Money Join Law Insider Premium to draft better contracts faster.