Operations and Maintenance Expenses means (a) all expenses that do not constitute expenses for a capital project as defined at 49 U.S.C. 5302(3) and (b) the costs incurred in connection with the administration of the Borrower, including but not limited to a share, determined by the Borrower in its reasonable discretion in accordance with the formula set forth in its internal cost allocation plan of the salaries and benefits payable to employees of the Borrower. For the avoidance of doubt, the term “Operations and Maintenance Expenses” shall not include any allowance for amortization or depreciation or any non-cash expenses.
Operations and Maintenance Expenses means those Generating Resource Expenses chargeable to Accounts 500 through 557 (excluding Accounts 501, 509, 547, and 555) as defined in the Uniform System of Accounts.
Operations and Maintenance Expenses means all actual cash maintenance and operation costs (excluding costs of Capital Expenditures) incurred and paid (or if applicable forecast to be incurred and paid) in connection with the operation and maintenance of the Project in any particular calendar year, Borrower Fiscal Year or other period to which said term is applicable, including payments made pursuant to the Concession Agreement, payments for taxes (excluding income taxes), insurance, consumables, advertising, marketing, payments under real property agreements pursuant to which the Borrower has rights in the Project, payments pursuant to the agreements for the management, operation or maintenance of the Project, reasonable legal fees and expenses paid by the Borrower in connection with the management, maintenance or operation of the Project, fees paid in connection with obtaining, transferring, maintaining or amending any approvals from any Governmental Authority, costs incurred in connection with the performance of environmental mitigation work to be carried out by the Borrower, amounts required for the acquisition of any Qualified Hedge or for deposits into any account maintained in accordance with the Collateral Agency Agreement for such purposes and reasonable general and administrative expenses, but exclusive in all cases of noncash charges, including depreciation or obsolescence charges or reserves therefor, amortization of intangibles or other bookkeeping entries of a similar nature.
Examples of Operations and Maintenance Expenses in a sentence
City shall give due consideration to the possibility of eliminating or reducing the amount, frequency and duration of ECPCs by changing the scope or phasing of or the funding sources for Capital Improvements, increasing the amounts of Nonairline Revenues or reducing Operations and Maintenance Expenses; provided, however, that City shall not be required to take any of these steps.
For purposes of this Section, the “Net Terminal Area Cash Flow” for any Fiscal Year shall mean the difference between (a) the total revenues received by City from all sources for use of space in the Terminals (excluding ECPCs, if any) and (b) the sum of (x) debt service (net of PFC’s) and Operations and Maintenance Expenses allocable to the Terminals and (y) required Reserve Deposits allocable to the Terminals for the immediately preceding Fiscal Year.
The Governmental Agency shall maintain an operations and maintenance reserve in an amount equal to three months of Operations and Maintenance Expenses excluding depreciation of the System as set forth in the annual budget for the current fiscal year but in no event greater than $1,250,000.
The Revenue shall be applied, on or before the last day of each month, first to the payment of the Operations and Maintenance Expenses (as defined in paragraph 3.
Within 180 days after the close of each Fiscal Year after 2022, LAWA shall recalculate the rates and charges as set forth in this Section 2 on the basis of actual Capital Costs and Operations and Maintenance Expenses, Airline activity and other factors affecting the prescribed calculations and shall determine the amount of any overpayment (credit) or underpayment (deficit) due to or from each Airline.
More Definitions of Operations and Maintenance Expenses
Operations and Maintenance Expenses shall not include any allowance for amortization or depreciation or any non-cash expenses.
Operations and Maintenance Expenses means all actual maintenance and operation costs (excluding costs of Capital Expenditures) incurred and paid (or, if applicable, forecasted to be incurred and paid) in connection with the operation and maintenance of the Project in any particular time period to which said term is applicable, including payments for taxes (excluding income taxes), insurance, consumables, advertising, marketing, [payments under real property agreements pursuant to which the Borrower has rights in the Project]40, payments pursuant to any agreements for the management, operation or maintenance of the Project, reasonable legal fees and expenses paid by the Borrower in connection with the management, maintenance or operation of the Project, fees paid in connection with obtaining, transferring, maintaining or amending any Governmental Approvals, costs incurred in connection with the performance of environmental mitigation work to be carried out by the Borrower (but only to the extent such work has a useful life of less than twelve (12) months),41 amounts required for the acquisition of any Qualified Hedge or for deposits into any account maintained in accordance with the Indenture Documents for such purposes and reasonable general and administrative expenses, but exclusive in all cases of noncash charges, including depreciation or obsolescence charges or reserves therefor, amortization of intangibles or other bookkeeping entries of a similar nature.42
Operations and Maintenance Expenses. The term means expenses incurred as direct costs, reasonable in nature, including, but not limited to, those associated with repairs, utility costs, insurance and safety-related costs to the physical plant. Such expenses shall not include capital budget expenditures as well as other costs specifically prohibited by Commonwealth statute.
Operations and Maintenance Expenses means all actual cash maintenance and operation costs incurred and paid or forecast to be incurred and paid in connection with the operation and maintenance of the Project, including Renewal Expenditures, other amounts (including Capital Expenditures) required to be incurred pursuant to the terms of the Project Agreement, payment for taxes (other than income taxes), insurance, consumables, advertising or marketing, payments pursuant to any agreements for the management, operation or maintenance of the Project, including payments to Affiliates under contracts with such Affiliates that are described in clause (ii) of Section 17(g) of the TIFIA Loan Agreement, payments of fees, costs and expenses payable in respect of the TIFIA Obligations and the Senior Secured Obligations pursuant to the Financing Documents, payments under real property agreements, management costs, fees and expenses of consultants and advisors, environmental mitigation costs, fees paid to rating agencies, and general and administrative expenses, but excluding in all cases Discretionary Capital Expenditures, Restricted Payments that would otherwise be considered Operations and Maintenance Expenses, payments in respect of Indebtedness other than as explicitly set forth in this definition, and noncash charges, including depreciation or obsolescence charges or reserves therefor, amortization of intangibles or other bookkeeping entries of a similar nature.
Operations and Maintenance Expenses means all actual cash maintenance and operation costs incurred and paid or forecast to be incurred and paid in connection with the operation and maintenance of the Project, including Renewal Expenditures, other amounts (including Capital Expenditures) required to be incurred pursuant to the terms of the Project Agreement, payment for taxes (other than income taxes), insurance, consumables, advertising or marketing, payments pursuant to any agreements for the management, operation or maintenance of the Project, including payments to Affiliates under contracts with such Affiliates that are described in clause (ii) of Section 17(g) of the TIFIA Loan Agreement, payments of fees, costs, expenses and indemnities payable in respect of the TIFIA Obligations and the Senior Secured Obligations (including amounts owing to the Agents) pursuant to the Financing Documents, payments under real property agreements, management costs, fees and expenses of consultants and advisors, environmental mitigation costs, fees paid to rating agencies, and general and administrative expenses, but excluding in all cases Discretionary Capital Expenditures, Restricted Payments that would otherwise be considered Operations and Maintenance Expenses, payments in respect of Indebtedness other than as explicitly set forth in this definition, and noncash charges, including depreciation or obsolescence charges or reserves therefor, amortization of intangibles or other bookkeeping entries of a similar nature.
Operations and Maintenance Expenses means all actual cash maintenance and operation costs incurred and paid or forecast to be incurred and paid in connection with the operation and maintenance of the Project, including Renewal Expenditures, other amounts (including Capital Expenditures) required to be incurred pursuant to the terms of the Project Agreement, payment for taxes (other than income taxes), insurance, consumables, advertising or marketing, payments pursuant to any agreements for the management, operation or maintenance of the Project, including payments to Affiliates under contracts with such Affiliates that are described in clause (ii) of [Section 17(g)] of the TIFIA Loan Agreement, payments of fees, costs, expenses and indemnities payable in respect of the TIFIA Obligations and the Senior Secured Obligations (including amounts owing to the Agents) pursuant to the Financing Documents, payments under real property agreements, management costs, fees and expenses of consultants and advisors, environmental mitigation costs, fees paid to rating agencies, and general and administrative expenses, but excluding in all cases Discretionary Capital Expenditures, Restricted Payments that would otherwise be considered Operations and Maintenance Expenses, payments in respect of Indebtedness other than as explicitly set forth in this definition, and noncash charges, including depreciation or obsolescence charges or reserves therefor, amortization of intangibles or other bookkeeping entries of a similar nature.
Operations and Maintenance Expenses means all actual maintenance and operation costs of the System incurred by the Governmental Agency in any particular period or charges made therefor during such period, but only if such charges are made in conformity with Generally Accepted Accounting Principles (as defined in paragraph (3) of Exhibit A of this Loan Agreement) including amounts reasonably required to be set aside in reserves for items of Operating Expenses the payment of which is not then immediately required. Such Operating Expenses include, but are not limited to, expenses for ordinary repairs, renewals and replacements of the System, salaries and wages, employees’ health, hospitalization, pension and retirement expenses, fees for services, materials and supplies, rents, administrative and general expenses, insurance expenses, legal, engineering, accounting, trustee, paying agent and financial advisory fees and expenses and costs of other consulting and technical services, taxes (except as set forth in the following paragraph), payments in lieu of taxes and other governmental charges, payments of the United States Treasury pursuant to Section 148 of the Internal Revenue Code or similar requirement to pay rebate, fuel costs, and any other current expenses or obligations required to be paid by the Governmental Agency by law, all to the extent properly allocable to the System. Such Operating Expenses do not include depreciation or obsolescence charges or reserves, amortization of intangibles or other bookkeeping entries of a similar nature, interest charges and charges for the payment of principal, or amortization, of bonded or other indebtedness of the Governmental Agency, costs, or charges made therefor, for capital additions, replacements, betterments, extensions or improvements to or retirements from the System which under Generally Accepted Accounting Principles are properly chargeable to the capital account or the reserve for depreciation, and do not include losses from the sale, abandonment, reclassification, revaluation or other disposition of any properties of the System nor such property items, including taxes and fuel, which are capitalized pursuant to the then existing accounting practice of the Governmental Agency.