Common use of Recycling Program Clause in Contracts

Recycling Program. On and after the Commencement Date and provided that no event of default (including the issuance by CRRA of a Notice of Non-Compliance with Delivery Obligations) exists hereunder, for any period with respect to which (i) revenues received by CRRA from the sale of Acceptable Recyclables exceed CRRA’s processing and administrative costs with respect to such Acceptable Recyclables, as determined by CRRA in a commercially reasonable manner, and (ii) the CRRA Board of Directors has declared a surplus with respect to such revenues pursuant to Conn. Gen. Stat. § 22a-267(6), as the same may be amended, supplemented or superseded, CRRA shall provide a rebate (a “Recycling Rebate”) to the Municipality for each Ton of Acceptable Recyclables delivered by or on behalf of the Municipality during such period. If so provided, Recycling Rebates shall be provided retroactively for any applicable Contract Year (or portion thereof). Nothing in this Section 3.4 shall establish a claim or any other right of the Municipality to any Recycling Rebate, or impose any obligation on CRRA to declare any Recycling Rebate.

Recycling Program. On and after the Commencement Date and provided that no event of default (including the issuance by CRRA MIRA of a Notice of Non-Compliance with Delivery Obligations) exists hereunder, for any period with respect to which (i) revenues received by CRRA MIRA from the sale of Acceptable Recyclables exceed CRRAMIRA’s processing and administrative costs with respect to such Acceptable Recyclables, as determined by CRRA MIRA in a commercially reasonable manner, and (ii) the CRRA MIRA Board of Directors has declared a surplus with respect to such revenues pursuant to Conn. Gen. Stat. § 22a-267(6), as the same may be amended, supplemented or superseded, CRRA MIRA shall provide a rebate (a “Recycling Rebate”) to the Municipality for each Ton of Acceptable Recyclables delivered by or on behalf of the Municipality during such period. If so provided, Recycling Rebates shall be provided retroactively for any applicable Contract Year (or portion thereof). Nothing in this Section 3.4 shall establish a claim or any other right of the Municipality to any Recycling Rebate, or impose any obligation on CRRA MIRA to declare any Recycling Rebate.