Extraordinary Coverage Protection Sample Clauses

Extraordinary Coverage Protection. Airline agrees that in addition to paying charges for its use of space and equipment in the Terminals calculated in accordance with the Rate Methodology as modified by this Agreement, Airline shall when required by this Agreement pay a separate charge to provide extraordinary coverage protection to City (the “Extraordinary Coverage Protection Charge” or “ECPC”) in accordance with the following terms and conditions.
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Extraordinary Coverage Protection. 9.12.1 Airline acknowledges that in order to satisfy the Coverage Amount for Debt Service on Bonds and Subordinated Indebtedness, Airline shall be required to make extraordinary coverage protection payments in addition to the Landing Fees and Terminal Rents otherwise established by this Article 9 in any Fiscal Year in which the amount of Revenues less Operating Expenses is projected to be less than the amount required by Section 7.13 of the Master Agreement, as such rate covenant may be amended, supplemented or restated from time to time. Any amounts that must be collected for such extraordinary coverage protection payments shall be allocated to the Airfield Revenue Requirement or the Airline Terminal Revenue Requirement. Should Extraordinary Coverage Protection payments be made in any given Fiscal Year, City shall in subsequent Fiscal Years refund to Airline its proportionate share of such payments as soon as there are sufficient Net Remaining Revenues available under Section 9.10 to first allow City to retain Four Million Dollars ($4,000,000) (until the first Fiscal Year after the DBO of the New Terminal Project) or Two Million Dollars ($2,000,000) (in Fiscal Years beginning after the DBO of the New Terminal Project), as provided by Section 9.10. The refund of Extraordinary Coverage Protection payments shall occur before the remaining balance of Net Remaining Revenue, if any, is divided sixty percent (60%) to the Signatory Passenger Carriers and forty percent (40%) to City in accordance with Section 9.10.
Sample 1
Extraordinary Coverage Protection. The AUTHORITY shall include Extraordinary Coverage Protection payments in the rates for rentals, fees, and charges at the Airport in any Fiscal Year in which the amount of Revenues plus Transfers, less O&M Expenses is projected to be less than one hundred twenty-five percent (125%) of the sum of Debt Service on Bonds and Subordinated Indebtedness for the Airport System. Any amounts which must be collected for such Extraordinary Coverage Protection payments will be allocated to Cost Centers within the Airline Supported Areas on the basis of the Net Requirement of such Cost Centers. Should Extraordinary Coverage Protection payments be made, AUTHORITY will refund to the Signatory Airlines such payments made by each Signatory Airline as soon as uncommitted funds become available in the General Purpose Fund.
Sample 1
Extraordinary Coverage Protection. It is imperative that XXXX generate sufficient Airport Revenues to meet the requirements of any applicable Rate Covenant. As such, XXXX may adjust the Terminal Rental Rates, the Signatory Passenger Airline Loading Bridge Rental Rate and/or the Signatory Landing Fee Rate, upon thirty (30) days prior written notice to the Signatory Passenger Airlines, if XXXX estimates that it will not meet its Rate Covenant Airport Revenue requirements during any Fiscal Year of the Term hereof. XXXX will retain such Extraordinary Coverage Protection Airport Revenues only to the extent necessary to meet the Rate Covenant requirements.
Sample 1
Extraordinary Coverage Protection. AUTHORITY shall include Extraordinary Coverage Protection payments in the calculation of rates for rentals, fees and charges at the Airport in any Fiscal Year in which the amount of Revenues, less O&M Expenses, is projected to be less than one hundred twenty- five percent (125%) of the amount of Debt Service. Payments will be allocated to the Airfield and Terminal Cost Centers on the basis of Total Landing Fee Requirement and Total Terminal Requirement, each as determined in accordance with Exhibit “G.”
Sample 1

Related to Extraordinary Coverage Protection

  • Primary Coverage All insurance policies shall provide that the required coverage shall apply on a primary and not on an excess or contributing basis as to any other insurance that may be available to OGS or any Authorized User for any claim arising from a Contractor’s work under any Contract awarded as a result of this solicitation, or as a result of a Vendor or Contractor’s activities. Any other insurance maintained by OGS or any Authorized User shall be excess of and shall not contribute with the Vendor/Contractor’s insurance.

  • INSURANCE PROTECTION Insurance protection for employees travelling on work related business is provided in accordance with the DHB’s insurance policy. The provisions of the insurance policy are available through the Human Resources department.

  • Family Coverage The employee’s cost for family coverage will be nineteen and one-half percent (19.5%) of the family rate for the employee’s Base Medical Plan. If the employee chooses a plan other than the Base Medical Plan, the employee’s cost will be the standard employee’s family rate established for that plan (i.e. the rate applicable where it has not been modified to be a zone’s Base Medical Plan). The employer shall pay the rate over and above the employee’s cost for the Base Medical Plan.

  • Income Protection All workers will be covered by the extended Incolink Leisure Time Insurance and Income protection Scheme which provides defined weekly payments ($500 per week to workers with dependants, $400 per week to workers without dependants) for up to a maximum 104 weeks in the event of an extended work absence arising from any personal illness or injury (whether or not work related). The costs of this benefit will be shared between Incolink and the company on a 30/70 basis. Agreed premium costs will be: Incolink - $2.10 per week/worker Employer - $4.90 per week/worker It is a condition of the company’s agreement to provide this benefit that premium costs be maintained at not more than the February 1998 equivalent. In the event of premium costs escalating, the parties are agreed that the benefits table will be revised downwards so as to contain premium costs within the agreed limits. To maintain this cover the company agrees to pay the amounts every week for each employee. In the event the company does not maintain the above policy, the company will be liable in full to pay equivalent benefits to an employee who meets eligibility criteria as set out in the policy document.

  • Disability Coverage In the event a State employee goes on an extended medical disability, or is receiving Workers’ Compensation benefits, the Employer-policyholder shall continue at no cost to the employee the coverage of the group life insurance for such employee for the period of such extended leave, but not beyond two (2) years.

  • Eye Protection Approved eye protection shall be supplied to individual prescription to all employees who normally wear glasses and are required to wear eye protection for an appreciable amount of time in the performance of their duties.

  • PICKET LINE PROTECTION 1. All employees covered under this Agreement have the right to refuse to cross or work behind a picket line unless same is declared illegal by the Labour Relations Board.

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