NON-UTILITY LINES OF BUSINESS Sample Clauses

NON-UTILITY LINES OF BUSINESS. (i) IF AT ANY TIME (A) THE CONSOLIDATED NON-UTILITY ASSETS OF PARENT, CALCULATED AS OF THE LAST DAY OF EACH FISCAL QUARTER OF PARENT, EXCEED 30% OF THE ASSETS OF PARENT AND ITS SUBSIDIARIES, INCLUDING THE CORPORATION (SUCH EVENT BEING HEREIN REFERRED TO AS A "NON-UTILITY EXCESS") AND SUCH NON-UTILITY EXCESS CONTINUES FOR A PERIOD OF EIGHT (8) CONSECUTIVE FISCAL QUARTERS OF PARENT (SUCH PERIOD BEING HEREIN REFERRED TO AS A "NON-UTILITY EXCESS PERIOD") AND (B) THE RONA DURING THE NON-UTILITY EXCESS PERIOD, CALCULATED AS OF THE LAST DAY OF THE NON-UTILITY EXCESS PERIOD, IS LESS THAN THE ROA FOR THE SAME PERIOD, THEN THE BONDHOLDER SHALL HAVE THE RIGHT, AT THE BONDHOLDER'S SOLE OPTION, TO REQUIRE THE CORPORATION TO PREPAY IN WHOLE 50% OF THE OUTSTANDING PRINCIPAL AMOUNT OF THE BONDHOLDER'S SERIES J BONDS, TOGETHER WITH INTEREST THEREON TO THE DATE OF SUCH PREPAYMENT OF SAID SERIES J BONDS AND WITHOUT ANY PREMIUM; PROVIDED, FURTHER, THAT (C) IF THE NON-UTILITY EXCESS REFERRED TO IN CLAUSE (A) ABOVE SHALL RE-OCCUR AT ANY TIME AND CONTINUE FOR A PERIOD OF AT LEAST FOUR (4) ADDITIONAL CONSECUTIVE FISCAL QUARTERS OF PARENT (THE "ADDITIONAL NON-UTILITY EXCESS PERIOD") AND (D) THE RONA DURING THE ADDITIONAL NON-UTILITY EXCESS PERIOD AND THE FOUR (4) FISCAL QUARTERS IMMEDIATELY PRECEDING THE ADDITIONAL NON-UTILITY EXCESS PERIOD, CALCULATED AS OF THE LAST DAY OF THE ADDITIONAL NON-UTILITY EXCESS PERIOD, IS LESS THAN THE ROA FOR THE SAME PERIOD, THEN THE BONDHOLDER SHALL HAVE THE RIGHT, AT THE BONDHOLDER'S SOLE OPTION, TO REQUIRE THE CORPORATION TO PREPAY IN WHOLE THE REMAINING 50% OF THE OUTSTANDING PRINCIPAL AMOUNT OF THE BONDHOLDER'S SERIES J BONDS, TOGETHER WITH INTEREST THEREON TO THE DATE OF SUCH PREPAYMENT AND WITHOUT ANY PREMIUM. (ii) PARENT AND THE CORPORATION SHALL PROMPTLY AT THE END OF EACH FISCAL QUARTER OF PARENT JOINTLY CALCULATE THE NON-UTILITY ASSET RATIO AND, IN THE EVENT OF THE EXISTENCE OF A NON-UTILITY EXCESS, RONA AND ROA, FOR PURPOSES OF THIS PARAGRAPH (b) OF THIS SECTION 1, AND SHALL WITHIN THIRTY (30) DAYS AFTER THE END OF EACH FISCAL QUARTER DELIVER TO THE BONDHOLDER AND THE TRUSTEE A WRITTEN REPORT DETAILING THE DETERMINATION OF THE FOREGOING ITEMS AND THE CALCULATIONS WITH RESPECT THERETO.
Sample 1
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Related to NON-UTILITY LINES OF BUSINESS

  • Lines of Business Enter into any business, either directly or through any Subsidiary, except for those businesses in which the Borrower and its Subsidiaries are engaged on the date of this Agreement or that are reasonably related thereto.

  • Interconnection Facilities 4.1.1 The Interconnection Customer shall pay for the cost of the Interconnection Facilities itemized in Attachment 2 of this Agreement. The NYISO, in consultation with the Connecting Transmission Owner, shall provide a best estimate cost, including overheads, for the purchase and construction of its Interconnection Facilities and provide a detailed itemization of such costs. Costs associated with Interconnection Facilities may be shared with other entities that may benefit from such facilities by agreement of the Interconnection Customer, such other entities, the NYISO, and the Connecting Transmission Owner. 4.1.2 The Interconnection Customer shall be responsible for its share of all reasonable expenses, including overheads, associated with (1) owning, operating, maintaining, repairing, and replacing its own Interconnection Facilities, and

  • Purpose of Interconnection Facilities Except as may be required by Applicable Laws and Regulations, or as otherwise agreed to among the Parties, the Interconnection Facilities shall be constructed for the sole purpose of interconnecting the Large Generating Facility to the Participating TO’s Transmission System and shall be used for no other purpose.

  • Interconnection Customer’s Interconnection Facilities The Interconnection Customer shall design, procure, construct, install, own and/or control the Interconnection Customer’s Interconnection Facilities described in Appendix A at its sole expense.

  • Limitation on Lines of Business Enter into any business, either directly or through any Subsidiary, except for those businesses in which the Borrower and its Subsidiaries are engaged on the date of this Agreement or that are reasonably related thereto.

  • Personnel, Office Space, and Facilities of Manager The Manager at its own expense shall furnish or provide and pay the cost of such office space, office equipment, office personnel, and office services as the Manager requires in the performance of its investment advisory and other obligations under this Agreement.

  • Interconnection 2.1 This section applies to linking with suppliers providing public telecommunications transport networks or services in order to allow the users of one supplier to communicate with users of another supplier and to access services provided by another supplier, where specific commitments are undertaken.

  • Scope of Interconnection Service 1.3.1 The NYISO will provide Energy Resource Interconnection Service and Capacity Resource Interconnection Service to Interconnection Customer at the Point of Interconnection. 1.3.2 This Agreement does not constitute an agreement to purchase or deliver the Interconnection Customer’s power. The purchase or delivery of power and other services that the Interconnection Customer may require will be covered under separate agreements, if any, or applicable provisions of NYISO’s or Connecting Transmission Owner’s tariffs. The Interconnection Customer will be responsible for separately making all necessary arrangements (including scheduling) for delivery of electricity in accordance with the applicable provisions of the ISO OATT and Connecting Transmission Owner’s tariff. The execution of this Agreement does not constitute a request for, nor agreement to, provide Energy, any Ancillary Services or Installed Capacity under the NYISO Services Tariff or any Connecting Transmission Owner’s tariff. If Interconnection Customer wishes to supply or purchase Energy, Installed Capacity or Ancillary Services, then Interconnection Customer will make application to do so in accordance with the NYISO Services Tariff or Connecting Transmission Owner’s tariff.

  • Interconnection Service Interconnection Service allows the Interconnection Customer to connect the Large Generating Facility to the Participating TO’s Transmission System and be eligible to deliver the Large Generating Facility’s output using the available capacity of the CAISO Controlled Grid. To the extent the Interconnection Customer wants to receive Interconnection Service, the Participating TO shall construct facilities identified in Appendices A and C that the Participating TO is responsible to construct.

  • Good Utility Practice The Interconnection Customer shall construct, interconnect, operate and maintain its Small Generating Facility and construct, operate, and maintain its Interconnection Facilities in accordance with the applicable manufacturer’s recommended maintenance schedule, and in accordance with this Agreement, and with Good Utility Practice.

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