Operating Ratio. Except as ADB shall otherwise agree, the Borrower shall ensure that the REPC maintains, for each of its fiscal years after its fiscal year ending on 31 December 2009, a ratio of total operating expenses to total operating revenue not higher than 80% (eighty percent).
Operating Ratio. As defined in Attachment A, the “Operating Ratio” shall be a ratio of projected net revenues to Contractor’s projected allowable expenses, excluding Pass-Through Costs, and shall fall within a range of 88% to 92%.
Operating Ratio. The “Operating Ratio” shall be a “fair and reasonable” percentage of projected Gross Receipts based upon negotiations between Contractor and County after such an Operating Ratio has been proposed by Contractor, which occurs only at the time of Contractor’s submittal of the Application for Detailed Rate Review. Pass-Through Costs3 Pass-Through Costs shall include: Governmental fees and charges; Franchise fees; Rent and property taxes for use of County-owned facility(ies); and All processing and disposal costs incurred at a processing facility, transfer station or disposal facility. Pass-Through Costs will be included as an element of costs for setting the Rates, however these expenses shall not be included in any costs used as a basis for calculating or determining Profit.
Operating Ratio. Except as ADB shall otherwise agree, the Borrower shall maintain, for each of its fiscal years starting after the Effectiveness Date, a ratio of total operating expenses to total operating revenue not higher than 100%.
Operating Ratio. An Operating Ratio of not less than 1.25-1.0 through March 31, 1998, and at June 30, 1998 and at all times thereafter of not less than 1.50-1.
Operating Ratio. Except as ADB shall otherwise agree, USP shall maintain, for each of its fiscal years starting loan effectiveness date of the Project, a ratio of total operating expenses to total operating revenue not higher than 100%.
Operating Ratio. (a) Except as the Bank shall otherwise agree, the Borrower, through each Participating PEMDA, shall ensure that each respective Participating PDAM shall maintain, for each of its Fiscal Years commencing with its Fiscal Year ending on December 31, 2010, a ratio of total operating expenses to total operating revenues not higher than 1.0.
(b) Before March in each of its Fiscal Years commencing in January 2010, the Borrower shall ensure that each Participating PEMDA shall, through the relevant PDAM Performance Agreement, ensure that the Participating PDAM shall, on the basis of forecasts prepared by the Participating PDAM and satisfactory to the Bank and the Borrower, review whether it would meet the requirements set forth in paragraph (a) in respect of such year and the next following Fiscal Year, and shall furnish to the Bank the results of such review upon its completion.
(c) If any such review shows that the Participating PDAM would not meet the requirements set forth in paragraph (a) for the Fiscal Years covered by such review, the Borrower shall ensure that the respective Participating PEMDA shall, through the relevant PDAM Performance Agreement, ensure that the relevant Participating PDAM shall promptly take all necessary measures (including, without limitation, adjustments of the structure or levels of its tariffs and fees) in order to ensure that the Participating PDAM shall meet such requirements.
(d) For the purposes of this paragraph 2:
Operating Ratio. “Operating Ratio” or “OR” means the relationship, expressed as a percentage, between Contractor’s total annual cost of operations and the Contractor’s total annual cost of operations plus profit. The OR for purposes of this Agreement is 88 percent. The formula by which profit is calculated is shown in Attachment N-2, Section 3.B.
