Net System Revenues definition

Net System Revenues means the Gross Revenues of the System minus Operation and Maintenance Expenses, indirect charges, amounts expended for capital replacements and repairs, required set asides for debt and replacement requirements, and any other payments from the gross revenues reasonably required for operation of the System.

Net System Revenues means the Gross Revenues of the System owned and operated by the Governmental Unit minus Operation and Maintenance Expenses, indirect charges, amounts expended for capital replacement and repairs, required set asides for debt and replacement requirements, and any other payments from the gross revenues reasonably required for operation of the water utility system.

Net System Revenues means, for any Fiscal Year, all System Revenues received by the Purchaser for such Fiscal Year less the Operations and Maintenance Costs for such Fiscal Year.

Examples of Net System Revenues in a sentence

• The City shall, and shall take all actions reasonable and within its power and authority to cause the Authority and the Corporation to, take any and all actions necessary or reasonably requested by the Bank to defend and maintain the pledge of Net System Revenues to secure the Payment Obligations.

• The Agreement creates, for the benefit and security of the Subordinated Credit Provider Reimbursement Obligations, including the Payment Obligations, the legally valid, binding and irrevocable subordinate lien on and pledge of the Net System Revenues.

• No filing, registering, recording or publication of the Agreement or any other instrument is required to establish the pledge under the Agreement or to perfect, protect or maintain the lien created thereby on the Net System Revenues.

• The City has not entered into any Swap Contract secured by Net System Revenues (a) wherein any termination payment thereunder is senior to or on a parity with the payment of the Payment Obligation or (b) which requires the City to post cash collateral to secure its obligations thereunder.

• The Agreement does not permit the issuance of any debt secured by the Net System Revenues to rank senior to the Commercial Paper Notes or the Payment Obligations, other than Permitted Parity Obligations.

More Definitions of Net System Revenues

Net System Revenues means, for any Fiscal Year, all System Revenues received by the District for such Fiscal Year, less the Operations and Maintenance Costs for such Fiscal Year.

Net System Revenues means, for any Fiscal Year, all System Revenues received by the Purchaser for such Fiscal Year less the Operations and Maintenance Costs for such Fiscal Year after payment of Senior Debt Service.

Net System Revenues has the meaning given to that term in the Agreement.

Net System Revenues means the Gross Revenues of the System minus Operation and Maintenance Expenses, indirect charges, amounts expended for capital replacements and repairs, required set asides for debt and replacements requirements, and any other payments from the gross revenues reasonably required for operation of the System.

Net System Revenues means, for any Fiscal Year, the System Revenues for such Fiscal Year less the Maintenance and Operation Costs of the Water System for such Fiscal Year.

Net System Revenues means the Gross Revenues of the water and wastewater utility system owned and operated by the Borrower/Grantee minus Operation and Maintenance

Net System Revenues means the System Gross Revenues less the Cost of Operations, Maintenance and Administration.