Protection of Lenders’ Investment. During each successive five-year period beginning with the five-year period which commenced on October 1, 2015, apply Net Power Proceeds either in reduction (directly or through payments into reserve or sinking funds) of its capital obligations, including bonds and the Appropriation Investment, or to reinvestment in Power Assets, at least to the extent of the combined amount of the aggregate of the depreciation accruals and other charges representing the amortization of capital expenditures applicable to its Power Properties plus the net proceeds realized from any disposition of power facilities in said period.
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Samples: Bank Credit Agreement (Tennessee Valley Authority), September Maturity Credit Agreement (Tennessee Valley Authority), September Maturity Credit Agreement (Tennessee Valley Authority)
Protection of Lenders’ Investment. During each successive five-year period beginning with the five-year period which commenced on October 1, 20152010, apply Net Power Proceeds either in reduction (directly or through payments into reserve or sinking funds) of its capital obligations, including bonds and the Appropriation Investment, or to reinvestment in Power Assets, at least to the extent of the combined amount of the aggregate of the depreciation accruals and other charges representing the amortization of capital expenditures applicable to its Power Properties plus the net proceeds realized from any disposition of power facilities in said period.
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Samples: Credit Agreement (Tennessee Valley Authority), Credit Agreement (Tennessee Valley Authority)
Protection of Lenders’ Investment. During The Borrower, during each successive five-year period beginning with the five-year period which commenced on October 1, 20152020, shall apply Net Power Proceeds either in reduction (directly or through payments into reserve or sinking funds) of its capital obligations, including bonds and the Appropriation Investment, or to reinvestment in Power Assets, at least to the extent of the combined amount of the aggregate of the depreciation accruals and other charges representing the amortization of capital expenditures applicable to its Power Properties plus the net proceeds realized from any disposition of power facilities in said period.
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Protection of Lenders’ Investment. During each successive five-year period beginning with the five-year period which commenced on October 1, 20152010, apply Net Power Proceeds either in reduction (directly or through payments into reserve or sinking funds) of its capital obligations, including bonds and the Appropriation Investment, or to reinvestment in Power Assets, at least to the extent of the combined amount of the aggregate of the depreciation accruals and other charges representing the amortization of capital expenditures applicable to its Power Properties plus the net proceeds realized from any disposition of power facilities in said period.. -62- SC1:3922355.6
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Protection of Lenders’ Investment. During each successive five-year fiveyear period beginning with the five-year fiveyear period which commenced on October 1, 2015, apply Net Power Proceeds either in reduction (directly or through payments into reserve or sinking funds) of its capital obligations, including bonds and the Appropriation Investment, or to reinvestment in Power Assets, at least to the extent of the combined amount of the aggregate of the depreciation accruals and other charges representing the amortization of capital expenditures applicable to its Power Properties plus the net proceeds realized from any disposition of power facilities in said period.
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