ECONOMIC-FINANCIAL BALANCE Sample Clauses

ECONOMIC-FINANCIAL BALANCE. 15.1 The Parties acknowledge that the Agreement -at the Closing Date- is in a situation of economic and financial balance in terms of rights, responsibilities and risks assigned to the Parties. 15.2 This clause stipulates a mechanism for restoring economic and financial balance, to which the Concessionaire and the Grantor shall be entitled, in the event that the Concession is affected, exclusively and explicitly due to changes in the Applicable Laws and Provisions, to the extent exclusively related to economic-financial aspects connected to the variation of revenues, investment costs or operating and maintenance costs associated Service supply. 15.3 Any Party that considers that the economic and financial balance of the Agreement has been affected may invoke its reinstatement by proposing the solutions and procedures to be followed for its reinstatement -in writing and with sufficient substantiation- to the other Party . 15.4 In this regard, the Parties shall ratify or refuse to invoke the breach of the economic and financial balance by one of the Parties, as well as determine the compensation amount to restore such balance. 15.5 The economic-financial balance will be restored if, as a result of what is stated in Section 15.2, and in comparison with what would have happened in the same period if the changes referred to in that section had not occurred: a) The investment costs incurred by the Concessionaire from Closing Date to Commercial Commissioning vary in an amount equal to ten percent (10%) or more of the Investment Cost specified in Section 8.1 b). After the eventual adjustments indicated in said clause, the totality of the variation should be considered for restoring economic-financial balance; or, b) The revenues or Service operation and maintenance costs are affected in such a way that the difference between Concessionaire revenues less operation and maintenance costs for operating the Service, during a period of twelve (12) consecutive months or more, varies in the equivalent of ten percent (10%) or more of the current Tariff Base. 15.6 If the economic and financial balance of this Agreement is affected, as defined in the preceding paragraph, the Concessionaire or the Grantor may propose to the other Party -in writing and with the necessary substantiation-, the solutions and procedures to be followed to restore the affected economic balance. Restoration of economic-financial balance shall consider the present value of the effects on future Conces...
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ECONOMIC-FINANCIAL BALANCE. 15.1 The Parties recognize that the economic-financial balance of the Contract, in accordance with the rights, responsibilities, and risks assigned to the Parties, is that in force on the Closing Date. The Parties undertake to maintain the economic-financial balance of the Contract throughout its term. 15.2 This clause establishes a mechanism for reestablishing the economic-financial balance, to which both the CONCESSIONAIRE and the GRANTOR shall be entitled in the event that the Concession is affected exclusively and explicitly due to changes in the Applicable Laws and Provisions, provided it is exclusively related to economic-financial aspects tied to a change in: i) capital expenditures; ii) revenues; or iii) operating and maintenance costs related to the provision of the Service.
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ECONOMIC-FINANCIAL BALANCE. 15.1 The Parties recognize that the economic-financial balance of the Contract, in accordance with the rights, responsibilities, and risks assigned to the Parties, is that in force on the Closing Date. The Parties undertake to maintain the economic-financial balance of the Contract throughout its term. 15.2 This clause establishes a mechanism for reestablishing the economic-financial balance, to which both the CONCESSIONAIRE and the GRANTOR shall be entitled in the event that the Concession is affected exclusively and explicitly due to changes in the Applicable Laws and Provisions, provided it is exclusively related to economic-financial aspects tied to a change in: i) capital expenditures; ii) revenues; or iii) operating and maintenance costs related to the provision of the Service. 15.3 Either of the Parties who believes that the economic-financial balance of the Contract has been affected may request the restoration thereof when the percentage established in Clause 15.6 has been reached, sending a written proposal to the other Party with sufficient support for the solutions and procedures to be followed for its restoration. The copy of the request shall be submitted to the OSINERGMIN, so that it may issue a technical/economic opinion regarding the request within twenty (20) Days, which shall then be evaluated by the GRANTOR, without said opinion be binding upon it. The Party receiving the request shall respond to it within thirty (30) Days. In the event any objections are raised, they shall be absolved within a term not to exceed thirty (30) Days after receipt of the notice, and the pronouncement shall be communicated within the following thirty
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ECONOMIC-FINANCIAL BALANCE. The parties declare their commitment to maintain throughout the duration of the contract, the economic and financial balance thereof. In this regard, the parties acknowledge that the Contract to the date of signing thereof, is in a situation of economic and financial balance in terms of rights, responsibilities and risks assigned to the parties
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ECONOMIC-FINANCIAL BALANCE. 15.1. The Parties recognize that on the date of Proposal submission the current situation was one of Economic and Financial balance in terms of rights, responsibilities and risks assigned to the Parties. 15.2. This Clause provides a mechanism to restore economic and financial balance, which the Concessionaire and the Grantor shall be entitled to, in case the economic and financial balance of the Concession is exclusively and explicitly significantly affected by changes in Applicable Laws, to the extent that it has direct relation with financial and economic aspects related to changes in income, investment costs or operating and maintenance costs associated with the provision of the Service. 15.3. Economic and financial balance will be restored if, as a result of what is stated in the previous clause, and compared to what would have happened in the same period if the changes referred to in this Clause had not happened: a) The investment costs incurred by the Concessionaire change from the Closing Date until the Commercial Operation Commissioning in the amount of five percent (5%) or more of the Investment Cost indicated in Section 8.1.b after the adjustment indicated in Annex 9, as applicable; or; in addition, the total variation shall be taken into account to restore the economic-financial balance, or b) Income or operating and maintenance costs of the Service are affected so that the difference between revenue less operating and maintenance costs of the Concessionaire in the operation of the Service, for a period of twelve (12) consecutive months or more vary in the amount of five percent (5%) or more regarding the existing Base tariff.
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Related to ECONOMIC-FINANCIAL BALANCE

  • Closing Date Balance Sheet a. Not later than sixty (60) days after the Closing, Seller shall prepare a balance sheet of the Company as of the close of business on the Closing Date (the "Closing Date Balance Sheet"), in accordance with United States generally accepted accounting principles ("GAAP") applied in a manner consistent with the accounting principles and practices applied in the preparation of the Financial Statements (as defined herein). Seller agrees to use reasonable efforts to cause the Closing Date Balance Sheet to be prepared and delivered to Purchaser within sixty (60) days after the Closing, unless such inability to deliver the Closing Date Balance Sheet is as a result of Purchaser's failure to give Seller reasonable access to the necessary books, records and/or personnel, in which event the requirement to deliver the Closing Date Balance Sheet shall be tolled until Seller is given reasonable access to the necessary documentation or personnel. The date of delivery of the Closing Date Balance Sheet to Purchaser is referred to herein as the "Delivery Date". b. Without charge by Purchaser, Purchaser shall cause its and the Company's employees to cooperate reasonably and on a timely basis and to assist Seller with the preparation of the Closing Date Balance Sheet, and shall make reasonably available to Seller and its authorized representatives the books, records, and personnel of the Company which Seller reasonably requires in order to prepare and deliver the Closing Date Balance Sheet. Purchaser and Seller shall, throughout the entire period from the date of this Agreement to the Delivery Date, meet and discuss any and all financial and business matters relating to such process and the preparation of the Closing Date Balance Sheet, and Seller shall make available its work papers for confidential inspection and review by Purchaser and Purchaser's accountants; provided, however, that Seller may omit or redact information that contains competitively sensitive information concerning Seller's or any of Seller's Affiliate's unrelated operations, contracts, customers, pricing, costs, or related matters.

  • Remaining Principal Balance At the Cutoff Date the Principal Balance of each Receivable set forth in the Schedule of Receivables is true and accurate in all material respects.

  • Outstanding Principal Balance Each Receivable has an outstanding principal balance of at least $500.

  • Original Class B Principal Balance The Original Class B Principal Balance is $12,006,549.92.

  • Cash Balance Within two (2) Business Days after the end of each Fiscal Month, Borrower will deliver a certificate reporting to Agent the Cash Balance as of the last day of the Fiscal Month just ended, which certificate shall be executed and certified by a Responsible Officer of the Borrower as true and correct; (d)

  • Net Receivables Balance Seller has determined that, immediately after giving effect to each purchase hereunder, the Net Receivables Balance is at least equal to the sum of (i) the Aggregate Capital, plus (ii) the Aggregate Reserves.

  • Pro Forma Balance Sheet; Financial Statements The Lenders shall have received (i) the Pro Forma Balance Sheet, (ii) audited consolidated financial statements of the Borrower and its Subsidiaries for the most recently ended fiscal year and (iii) unaudited interim consolidated financial statements of the Borrower and its Subsidiaries for each fiscal quarter ended after the date of the latest applicable financial statements delivered pursuant to clause (i) of this paragraph as to which such financial statements are available.

  • Pro Forma Balance Sheet The Administrative Agent shall have received the Pro Forma Balance Sheet in form and substance satisfactory to the Administrative Agent and the Required Lenders;

  • Principal Balance Each Receivable had a remaining Principal Balance as of the Cutoff Date of not less than $500.

  • Capitalization Ratio Permit the ratio of Consolidated Debt of the Borrower to Consolidated Capital of the Borrower to exceed .58 to 1.00.

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