Annual Capital Equivalency Charge Sample Clauses

Annual Capital Equivalency Charge. In addition to the Fixed OM&R Charges and the variable OM&R charges required in Sections 14.1.1 and 14.1.2, the Contractor shall make payment to CAWCD in equal semiannual installments of a Capital Equivalency Charge based on a maximum entitlement of acre-feet per year of Contractor Water. The amount of this charge in any year shall be equal to the M&I water service capital charge, as published in CAWCD's annual rate schedule for that year, multiplied by acre-feet per year of Contractor Water. The Capital Equivalency Charge shall be paid on Contractor's full entitlement to Contractor Water regardless of the amount delivered in any year under this Agreement. The Capital Equivalency Charge payment for the initial year shall be advanced to CAWCD in equal semiannual installments on or before December 1 preceding the initial Year and June 1 of said initial Year. Thereafter, for each subsequent Year, payments by the Contractor in accordance with the foregoing provisions shall be made in equal semiannual installments on or before the December 1prededing said subsequent Year and the June 1 of said subsequent Year as may be specified by XXXXX in written notices to the Contractor.
Sample 1
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Related to Annual Capital Equivalency Charge

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