RATE STABILIZATION COVENANT Sample Clauses

RATE STABILIZATION COVENANT. The Buyer, subject to approval of the Board of Public Utilities, agrees that it shall propose rates for ten (10) years as set forth in Exhibit M and shall use best efforts in each future rate case before the Board of Public Utilities to maintain the rate schedule set forth in Exhibit M. In the event that the Board of Public Utilities does not approve rates as set forth in Exhibit M, Xxxxx agrees to work cooperatively with the Borough and the Board of Public Utilities to preserve the rate schedule set forth in Exhibit M to the maximum extent acceptable to the Board of Public Utilities. Buyer acknowledges that the rate schedule set forth in Exhibit M is a significant inducement to the Borough entering into the Agreement and that without same, the Borough may choose to terminate this Agreement, without consequence to the Borough. Any future base rate increases shall be included in Buyer’s base rate cases periodically filed with the Board of Public Utilities. The Buyer shall use good faith efforts to minimize rate increases to Borough customers by spreading costs of the System across its statewide customer base to the extent permitted by law.
Sample 1
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RATE STABILIZATION COVENANT. On and after the Closing Date, the Buyer shall adopt and charge rates and charges to Township customers in accordance with the 2018 rates and charges as set forth in Exhibit D-1. Such rates will not be increased for at least 2 years from the Closing (based on 2018 sewer rates) and rates will not be raised more than 9% in total over the three (3) years after that. Any future base rate increases shall be included in Buyer’s base rate cases periodically filed with the BPU. The Buyer shall use good faith efforts to minimize rate increases to Township customers including as set forth in Section 19 of its proposal in response to the Township’s RFB.
Sample 1
RATE STABILIZATION COVENANT. [NOTE: To be developed based on Buyer’s Bid.] Covenant will reflect that rates will not be increased for at least years from the closing (based on 2021 sewer rates) and rates will not be raised more than % in total over the ( ) years after that. [ add additional language] Any future base rate increases shall be included in Buyer’s base rate cases periodically filed with the BPU. The Buyer shall use good faith efforts to minimize rate increases to Borough customers by spreading costs of the Wastewater System across its statewide customer base to the extent permitted by law.
Sample 1

Related to RATE STABILIZATION COVENANT

  • Rate Covenant Purchaser will establish, maintain and collect rates and charges for the electric service of its electric system each year so as to provide revenues sufficient, together with any legally available electric system reserves, to enable Purchaser to pay to SCPPA all amounts payable when due under this Agreement and to pay all other amounts payable from, and all lawful charges against or liens on, the revenues of its electric system.

  • Information Covenants The Borrower will furnish to the Administrative Agent (which shall promptly make such information available to the Lenders in accordance with its customary practice):

  • Indemnification Covenants (a) Notwithstanding any other provisions in this Fee Agreement or in any other agreements with the County, the Company agrees to indemnify, defend and save the County, its County Council members, elected officials, officers, employees, servants and agents (collectively, the “Indemnified Parties”) harmless against and from all claims by or on behalf of any person, firm or corporation arising from the conduct or management of, or from any work or thing done on the Project or the Land by the Company or any Sponsor Affiliate, their members, officers, shareholders, employees, servants, contractors, and agents during the Term, and, the Company further, shall indemnify, defend and save the Indemnified Parties harmless against and from all claims arising during the Term from (i) entering into and performing its obligations under this Fee Agreement, (ii) any condition of the Project, (iii) any breach or default on the part of the Company or any Sponsor Affiliate in the performance of any of its obligations under this Fee Agreement, (iv) any act of negligence of the Company or any Sponsor Affiliate or its agents, contractors, servants, employees or licensees, (v) any act of negligence of any assignee or lessee of the Company or any Sponsor Affiliate, or of any agents, contractors, servants, employees or licensees of any assignee or lessee of the Company or any Sponsor Affiliate, or (vi) any environmental violation, condition, or effect with respect to the Project. The Company shall indemnify, defend and save the County harmless from and against all costs and expenses incurred in or in connection with any such claim arising as aforesaid or in connection with any action or proceeding brought thereon, and upon notice from the County, the Company shall defend it in any such action, prosecution or proceeding with legal counsel acceptable to the County (the approval of which shall not be unreasonably withheld).

  • - Progression on the Wage Grid (The following clause is applicable to part-time employees only) Effective October 10, 1986 part-time employees, including casual employees, shall accumulate service for the purpose of progression on the wage grid, on the basis of one year for each 1725 hours worked. Notwithstanding the above, employees hired prior to October 10, 1986 will be credited with the service they held for the purpose of progression on the wage grid under the Agreement expiring September 28, 1985 and will thereafter accumulate service in accordance with this Article.

  • Particular Covenants Section 4.01. In the carrying out of the Project and operation of the Project facilities, the Borrower shall perform, or cause to be performed, all obligations set forth in Schedule 5 to this Loan Agreement.

  • Leverage Ratio The Borrower will not permit the Leverage Ratio to exceed 4.50 to 1.0 on the last day of any Fiscal Quarter.

  • Release and Indemnification Covenants Company releases Issuer from and covenants and agrees that Issuer shall not be liable for, and agrees to indemnify and hold Issuer harmless against, any expense or liability incurred by Issuer, including attorneys' fees, resulting from any loss or damage to property or any injury to or death of any person occurring on or about or resulting from any defect in the Project or from any action commenced in connection with the financing thereof. If any such claim is asserted, Issuer agrees to give prompt notice to the Company and Company will assume the defense thereof, with full power to litigate, compromise or to settle the same in its sole discretion, it being understood that Issuer will not settle or consent to the settlement of the same without the consent of Company.

  • Leverage The Fund has no liability for borrowed money or under any reverse repurchase agreement.

  • Coronavirus Relief Fund – Rental Assistance Application The Coronavirus Relief Fund – Rental Assistance Application should contain all the necessary information to determine whether a Household is potentially eligible for CRF assistance. In accordance with the provisions of Sections 760.20-760.37, Fla. Stat., it is unlawful to discriminate on the basis of race, religion, color, sex, familial status, national origin, or handicap in the award application process for Eligible Housing.

  • Most Favoured Nation Provision Neither Contracting Party shall in its territory subject investments admitted in accordance with the provisions of Article 2 or returns of nationals and companies of the other Contracting Party to treatment less favourable than that which it accords to investments or returns of nationals and companies of any third State.

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