Common use of Rate Covenant Clause in Contracts

Rate Covenant. The Company shall establish and collect rates, rents, charges, fees and other compensation (collectively "Rates") (i) for the use or the sale of the output, capacity or service of the System which are reasonably expected to yield Margins for Interest for each fiscal year of the Company, equal to at least 1.10 times Interest Charges for such period, subject to the approval or determination of any regulatory or judicial authority with jurisdiction over Rates, and (ii) that, together with other moneys available to the Company, produce moneys sufficient to enable the Company to comply with its covenants under this Indenture. Promptly upon any material change in the circumstances which were contemplated at the time such Rates were most recently reviewed, but not less frequently than once every twelve (12) months, the Company shall review the Rates so established and shall, subject in the case of the Margins for Interest requirement in clause (i) to any necessary regulatory or judicial approval or determination, promptly establish or revise such Rates as necessary to comply with the foregoing requirements.

Rate Covenant. The Company shall establish and collect Subject to the approval or determination of any regulatory or judicial authority with jurisdiction over rates, rents, charges, fees and other compensation (collectively collectively, "Rates") , the Company shall establish and collect Rates (i) for the use or the sale of the output, capacity or service of the System which are reasonably expected to yield Margins for Interest for each fiscal year of the Company, equal to at least 1.10 times Interest Charges for such period, subject to the approval or determination of any regulatory or judicial authority with jurisdiction over Rates, and (ii) that, together with other moneys available to the Company, produce moneys sufficient to enable the Company to comply with its covenants under this Indenture. Promptly upon any material change in the circumstances which were contemplated at the time such Rates were most recently reviewed, but not less frequently than once every twelve (12) months, the Company shall review the Rates so established and shall, subject in the case of the Margins for Interest requirement in clause (i) to any necessary regulatory or judicial approval or determinationapproval, promptly establish or revise such Rates as necessary to comply with the foregoing requirements. Section 2.11. The Indenture is amended by deleting Section 14.15 thereof and substituting the following in lieu thereof: