Economic Test. Applications to extend Energy Services to one or more new Customers will be subject to an economic test, a model which is accepted by the British Columbia Utilities Commission. The economic test will be a discounted cash flow analysis of the projected revenue and costs associated with the Distribution Extension. The Distribution Extension will be deemed to be economic and constructed if the results of the economic test indicate a zero or positive net present value.
Economic Test. 16.4.1 If all or substantially all of the Facility is destroyed or substantially destroyed in a single event or series of related events and the insurance proceeds (when taken together with any other funds available to the Facility Operator) are equal to or greater than the amount required to repair or reinstate the Facility, then the Facility Operator shall calculate the [loan life cover ratio] (on the assumption that the Facility is repaired or reinstated in accordance with this Agreement). [loan life cover ratio will be the relevant defined terms in the Finance Agreements.]
16.4.2 If the calculation referred to in clause 16.4.1 above shows that the [loan life cover ratio] is greater than or equal to the [event of default level], then the Facility Operator shall be subject to the reinstatement procedure set out in clause 16.3 (reinstatement).
Economic Test. 44.1 If all or substantially all of the Project Assets are destroyed or substantially destroyed in a single event or a series of related events and the insurance proceeds (when taken together with any other funds available to the Private Party) in respect of that event or series of events (the Reinstatement Proceeds) are equal to or greater than the amount required to repair, reinstate or replace the Project Assets, then the Private Party shall calculate the loan life cover ratio in accordance with the Financing Agreements (on the assumption that the Project Assets are repaired or reinstated in accordance with this PPP Agreement).
44.2 Subject to the Direct Financing Agreement and/or the Financing Agreements if the calculation referred to in clause 44.1 above shows that the loan life cover ratio is greater than or equal to the event of default level then the Private Party shall apply the insurance proceeds in accordance with the Reinstatement Plan set out in clause 45 (Reinstatement).
44.3 Subject to the Direct Financing Agreement and/or the Financing Agreements if the calculation referred to in clause 44.1 above shows that the loan life cover ratio is less than the event of default level, then an amount equal to the lesser of:
44.3.1 the amount of the Reinstatement Proceeds; and
44.3.2 the amount of the Debt less, to the extent that it is a positive amount, the aggregate, as at the date of calculation, of:
(a) all credit balances on any bank accounts held by or on behalf of the Private Party and the value of any right of the Private Party or the Lenders to receive insurance proceeds or any proceeds pursuant to letters of credit and of any such proceeds actually received by them (save where such credit balances or proceeds are paid to the Municipality and/or are to be applied in reinstatement) and sums due and payable from the Subcontractors and any other third parties;
(b) all amounts payable by the Lenders (or the counter-parties to the interest rate or exchange rate hedging arrangements provided for in the Financing Agreements) to the Private Party in connection with the early termination of such hedging arrangements as a result of prepayment of amounts outstanding under the Financing Agreements; and
(c) the market value of any other assets and rights of the Private Party or the Lenders (other than those that are transferable to the Municipality pursuant to this PPP Agreement) less liabilities of the Private Party or the Lenders properly incurred in con...
Economic Test. All applications to extend the Hydronic Energy distribution system to one or more new Customers will be subject to an economic test approved by the British Columbia Utilities Commission. The economic test will be a discounted cash flow analysis of the projected revenue and costs associated with the Main Extension. The Main Extension will be deemed to be economic and will be constructed if the results of the economic test indicate a zero or positive net present value.
Economic Test. All applications to extend distribution facilities to new Customers are subject to a Facilities Investment Analysis (FIA) to determine economic viability. This analysis is used to determine if an extension or modification is justified without additional contribution and will determine the level of additional contribution, if required. Annual consumption and construction costs for each new Customer will be determined by PSE, using Schedule 7 Facility Extension Standards.
