Calculation of Debt Service Charge (Contingent upon Issuance of Bonds for the Municipality Sample Clauses

Calculation of Debt Service Charge (Contingent upon Issuance of Bonds for the Municipality. For prior or subsequent Bonds issued to finance Capital Costs at the request of or for the benefit of the Connected Municipalities or, if applicable, other parties using the Treatment Plant, pursuant to Section 4.04, the payment of the Debt Service Charge shall commence upon issuance of the Bonds, or at such other time as may be required to assure the timely payment of debt service due on the Bonds. Such debt service charge shall be calculated in a manner consistent with the coverage and other covenants with respect to the Bonds and the calculation of the Capital Contribution hereunder, i.e., the principal and interest attributable to the Capital Costs, together with financing costs, multiplied by a factor equal to the percentage that the Municipality’s capacity increase in the Treatment Plant bears to the total increased capacity of the Treatment Plant (for example if the Municipality has additional capacity of 10% of the total increased capacity and is thus responsible for paying 10% of the capital cost of the project, the Municipality shall pay 10% of any debt service charge if it elects to use Bonds to pay for its share of the capital costs). Accelerated payments made by or on behalf of York on any Bonds shall not release the Municipality of its obligation to pay the debt service charge for any Capital Costs and any Capital Contribution funded pursuant to this section during the period such Bonds would have been outstanding but for accelerated payment. An amortization schedule of all outstanding Bonds as of the date of this Agreement is attached hereto as Exhibit D, and the Parties agree that such schedule shall be updated from time to time upon the issuance of additional Bonds.
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Related to Calculation of Debt Service Charge (Contingent upon Issuance of Bonds for the Municipality

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