Costs of Operation and Maintenance Sample Clauses

Costs of Operation and Maintenance. The Landlord shall determine the amount by which its budgeted cost of operation and maintenance of the Building for the current year are estimated to increase or decrease relative to the maximum amount of costs of operation and maintenance of the Building to be borne by Landlord for the base year as set forth in paragraph 1.07. The term “costs of operation and maintenance” shall be deemed to mean those expenses actually incurred by Landlord with respect to the operation and maintenance of the Building which, in accordance with accepted principles of sound accounting practice as consistently applied to the operation and maintenance of a generally first-class building, are properly chargeable to the operation and maintenance of the Building including, without limitation, utilities, heating, air conditioning, repair and maintenance, (which under generally accepted accounting principles would not be capitalized), cost of janitorial and other services and maintenance contracts therefore, supplies, wages and salaries of employees used in the management (but not any salaries or wages for employees or agents above the grade of on-site building operation or management) of the Building, and payroll taxes with respect thereto, or alternatively the cost of contracting for the management services with a third party, a Landlord administration fee of fifteen (15%) percent of operating expenses (excluding property taxes), depreciation (on personal property owned by Landlord) or rental of personal property used in the maintenance of the Building, insurance, including fire and extended coverage, public liability and property damage and workmen’s compensation insurance and war risk and earthquake insurance and such other insurance to the extent customarily carried by the owners of first-class office buildings within the limits of Salt Lake County, property taxes as hereinafter defined, and other charges directly and properly related to the operation and maintenance of the Building. Landlord shall exclude from the cost of operation and maintenance any and all expenses relating to any operation, maintenance or supplies provided and furnished by any Tenant at Tenant’s own expense, and any expense, otherwise chargeable as part of the cost of operation and maintenance, that solely benefits a specific tenant in the Building. Notwithstanding anything contained in the Lease, no expenses incurred for the following shall be included in costs of operation and maintenance herein: (i) Re...
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Costs of Operation and Maintenance. PARTICIPANT shall own all facilities in the substation that PARTICIPANT needs to operate its own system and that VT Transco does not need to operate its system, as determined by VT Transco ("Exclusive Facilities"). Other than Exclusive Facilities owned by one or more PARTICIPANTS, VT Transco shall own all facilities in the substation. VT Transco shall determine the O&M costs for each substation. For each substation in which a PARTICIPANT owns Exclusive Facilities, it shall pay a portion of the O&M costs, such portion to be determined by dividing the original cost of that PARTICIPANT’S Exclusive Facilities in that substation by the total original cost of the entire substation, including any PARTICIPANT’S Exclusive Facilities in that substation and any other facilities in that substation. VT Transco shall issue an invoice to PARTICIPANT each month, identifying the amount of O&M costs that PARTICIPANT owes for each substation in which it owns Exclusive Facilities. Such amounts shall be payable within 10 days of issuance of the invoice. Any amount due and remaining unpaid 10 days following the date of issuance of the invoice shall bear interest at an annual rate to be calculated in accordance with regulations of the Federal Energy Regulatory Commission, codified in the Code of Federal Regulations, Volume 18, Section 35.19a, as such regulations may be amended from time to time. .
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Costs of Operation and Maintenance. VT Transco shall determine the O&M costs for each substation. For each substation in which a PARTICIPANT owns Exclusive Facilities, it shall pay a portion of the O&M costs, such portion to be determined by multiplying the sum of all costs of operation and maintenance of equipment at the substation, as recorded in FERC Accounts 562 and 570, by a fraction of which the numerator is PARTICIPANT'S Exclusive Costs and the denominator equals the original cost of the substation plus the original cost of any capital additions, as booked to VT Transco’s Account No. 353, plus any Exclusive Costs for that substation. VT Transco shall issue an invoice to PARTICIPANT each month, identifying the amount of O&M costs that PARTICIPANT owes for each substation in which it owns Exclusive Facilities. Such amounts shall be payable within 10 days of issuance of the bill. Any amount due and remaining unpaid 10 days following the date of issuance of the invoice shall bear interest from that date until the amount due is paid at the FERC Interest Rate.
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Costs of Operation and Maintenance. The Operations and Maintenance Expenses for the Common Use Assets shall be initially allocated between CRC (“CRC Expense Allocation”) and JVC as more particularly described on Exhibit C-4 (“JVC Expense Allocation,” and together with the CRC Expense Allocation, the “Expense Allocation(s)”). The Expense Allocations set forth on Exhibit C-4 were established by the Parties as of the Effective Date. If an Owner believes that the initial Expense Allocation set forth on Exhibits C-4 or an Expense Allocation that has been previously adjusted in accordance with the provisions of this Section, no longer fairly and equitably allocates the Operations and Maintenance Expenses for that Common Use Asset and related Services, that Owner may give CRSC a written proposal (and CRSC shall give the other Owner a copy of this proposal), setting forth a proposed change in the Expense Allocation for that Common Use Asset and related Services. If the non-requesting Owner does not reply to CRSC’s notice within thirty (30) days of receiving the proposal (which will be deemed a rejection of the proposal), timely rejects the proposal or timely proposes an alternate allocation, a designated Representative of each Owner shall meet in person, or by video conference, to negotiate with one another, in a commercially reasonable manner, in an effort to agree on a revised Expense Allocation in response to such proposal. To the extent that Owners are unable to reach such an agreement within one-hundred eighty (180) days after the non-requesting Owner’s receipt of the proposal, then the dispute will be resolved in accordance with the provisions of Article XIV. To the extent Owners agree to a revised Expense Allocation for a Common Use Asset and related Services, or the Expense Allocation is revised pursuant to the provisions of Article XIV, then the Parties shall amend Exhibit C-4 to reflect such revised Expense Allocation.
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Costs of Operation and Maintenance. If due to the occurrence of an event for which LIPA is responsible under Section 6.11 hereof, there shall be an increase in the Manager's cost of Construction Work or Operation and Maintenance Services, the amount of any such incremental cost increase shall be borne by LIPA to the extent it is responsible therefor under Section 6.11
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Costs of Operation and Maintenance. During the term of this Parking Agreement, Developer shall be solely responsible for all costs and expenses incurred for operating and maintaining, or causing to be operated and maintained, the Xxxxxxxx Garage, in accordance with the terms of this Parking Agreement.
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Costs of Operation and Maintenance. Costs of operation and maintenance of each substation shall be determined and billed monthly and shall be payable within 10 days of billing. The portion of operation and maintenance costs to be paid by PARTICIPANT shall be determined by multiplying the sum of all costs of operation and maintenance of equipment at the substation, as recorded in FERC Accounts 562 and 570, by a fraction of which the numerator is PARTICIPANT'S Exclusive Costs and the denominator equals the original cost of the substation plus the original cost of any capital additions, as booked to VELCO’s Account No. 353, plus Exclusive Costsis. the sum of all costs of station equipment in the substation, including Exclusive Costs, as recorded in FERC Account 353.
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Related to Costs of Operation and Maintenance

  • Maintenance of Operations The Company shall maintain operations at the Project for a minimum of ten (10) years beginning on the date the Project is Placed in Service. In addition to any other rights the Department may have under the terms of this Agreement, in the event that the Company discontinues of operations at the Project, such discontinuation may subject the Company to certain statutory provisions, including: 1. Pursuant to the Corporate Accountability for Tax Expenditures Act, 20 ILCS 715, et seq., a discontinuance of operations at the Project during the five-year period after the beginning of the first Taxable Year for which the Department issues a Certificate of Verification shall result in all Credits taken by the Company during such five-year period being deemed Wrongfully Exempted Illinois State Income Taxes and shall subject said Wrongfully Exempted Illinois State Income Taxes to the forfeiture provisions of Section VIII.D hereof. 2. Pursuant to Section 5-65 of the Act, discontinuance by the Company of operations at the Project during the term of this Agreement with the intent to terminate operations in the State of Illinois shall result in all Credits taken by the Company being deemed Wrongfully Exempted Illinois State Income Taxes and shall subject said Wrongfully Exempted Illinois State Income Taxes to the forfeiture provisions of Section VIII.D hereof.

  • Operation and Maintenance 17.1 O&M obligations of the Concessionaire 17.1.1 During the Operation Period, the Concessionaire shall operate and maintain the Bus Terminal in accordance with this Agreement either by itself, or through the O&M Contractor and if required, modify, repair or otherwise make improvements to the Bus Terminal to comply with the provisions of this Agreement, Applicable Laws and Applicable Permits, and conform to Specifications and Standards and Good Industry Practice. The obligations of the Concessionaire hereunder shall include: (a) permitting safe, smooth and uninterrupted flow of traffic on the Bus Terminal during normal operating conditions. Buses of other state road transport corporations shall be parked inside the Bus Terminal for which no charges shall be payable to the Concessionaire and if any charges are applicable for such parking then it shall be realized by Authority only; (b) minimising incidents affecting the safety and use of the Bus Terminal by providing a rapid and effective response and maintaining liaison with emergency services of the State; (c) carrying out periodic preventive maintenance of the Bus Terminal; (d) undertaking routine maintenance including prompt repairs of ticket counters, Workshops, Authority's Office and other infrastructure as mentioned in the Operation and Maintenance Schedule; (e) undertaking major maintenance such as per the Maintenance Schedule of the major infrastructure in the Bus Terminal; (f) preventing, with the assistance of the concerned law enforcement agencies, any encroachments on the Bus Terminal; (g) protection of the environment and provision of equipment and materials therefor; (h) operation and maintenance of all communication, control and administrative systems necessary for the efficient operation of the Bus Terminal; (i) maintaining a public relations unit to interface with and attend to suggestions from the Users, passengers, government agencies, media and other agencies; (j) complying with Safety Requirements in accordance with Article 18; (k) operation and maintenance of all Project Assets diligently and efficiently and in accordance with Good Industry Practice; (l) maintaining punctuality and reliability in operating the Bus Terminal; and (m) maintaining a high standard of cleanliness and hygiene in the Bus Terminal. 17.1.2 The Concessionaire shall remove promptly from the Bus Terminal all surplus construction machinery and materials, waste materials (including hazardous materials and waste water), rubbish and other debris (including, without limitation, accident debris) and keep the Bus Terminal in a clean, tidy and orderly condition,

  • Payment of Operating Expenses Subject to the provisions of Section 6.08(c), Borrower will (i) pay the expenses of operating, managing, maintaining and repairing the Mortgaged Property (including utilities, Repairs and Capital Replacements) before the last date upon which each such payment may be made without any penalty or interest charge being added, and (ii) pay Insurance premiums at least 30 days prior to the expiration date of each policy of Insurance, unless applicable law specifies some lesser period.

  • Operations and Maintenance Seller shall not during the months of June through September inclusive schedule any non-emergency maintenance that reduces the energy generating capability of the Facility by more than ten percent (10%), unless (i) such outage is required to avoid damage to the Facility, (ii) such maintenance is necessary to maintain equipment warranties and cannot be scheduled outside the months of June through September, (iii) such outage is required in accordance with prudent electrical practices, or (iv) the Parties agree otherwise in writing.

  • Duties of Operator Operator shall perform all required testing of Manufacturer’s Bus in accordance with the FTA Regulations and the established testing procedures used at the bus testing facility and provided to Manufacturer which procedures are attached hereto marked Exhibit “A” and fully described and incorporated herein by this reference.

  • Definition of Operating Expenses Operating Expenses" shall mean and include all expenses incurred and payable in connection with the ownership, operation, maintenance, repair and management of the Premises and the improvements thereon and, without restricting the generality of the foregoing, shall include:

  • CONTINUITY OF OPERATIONS Engage in any business activities substantially different than those in which Borrower is presently engaged, (2) cease operations, liquidate, merge, transfer, acquire or consolidate with any other entity, change its name, dissolve or transfer or sell Collateral out of the ordinary course of business, or (3) pay any dividends on Borrower's stock (other than dividends payable in its stock), provided, however that notwithstanding the foregoing, but only so long as no Event of Default has occurred and is continuing or would result from the payment of dividends, if Borrower is a "Subchapter S Corporation" (as defined in the Internal Revenue Code of 1986, as amended), Borrower may pay cash dividends on its stock to its shareholders from time to time in amounts necessary to enable the shareholders to pay income taxes and make estimated income tax payments to satisfy their liabilities under federal and state law which arise solely from their status as Shareholders of a Subchapter S Corporation because of their ownership of shares of Borrower's stock, or purchase or retire any of Borrower's outstanding shares or alter or amend Borrower's capital structure.

  • CONTINUITY OF OPERATION Section 1: No Strikes, Work Stoppages or Lockouts

  • Statement of Operations Statement of Changes in Net Assets.

  • Commencement of Operations The Partnership shall not begin operations on its Leases unless the Managing General Partner is satisfied that necessary title requirements have been satisfied.

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