Common use of Repayment of Debt Clause in Contracts

Repayment of Debt. (a) By the 10th day of each month, the TP shall calculate and communicate to the Az ISA, the Az ISA’s repayment obligation to the TP for the subsequent billing month (the “Transmission Provider’s Repayment” or “TPREPAY”) as defined in Rate Schedule 1. (b) Within five (5) business days of the day on which the Az ISA receives the information specified in Section 4.02(a), the Az ISA shall notify the TP by phone or E-mail if it disagrees with the TP’s calculation. Disagreements as to the correct amount that are not resolved within five (5) days of the date the Az ISA gives said notice to the TP shall be subject to the dispute resolution procedures contained herein. (c) By the 10th day of each billing month, the TP shall remit to the Az ISA, in accordance with the provisions in Section 4.04 (Electronic Payment) and Rate Schedule 1, all revenues associated with the Az ISA’s repayment obligation for that billing month collected by the TP from each SC. (d) To the extent the TP collects from SCs an amount of money that exceeds the TP’s TPREPAY, the excess revenue shall be used to reduce the remaining principal associated with the repayment obligation to the TP, as listed in Exhibit 1. Whenever said additional payment is made, the TP shall recalculate the repayment obligation in accordance with an amortization schedule agreed to by the Parties. (e) To the extent the TP collects from SCs an amount of money that is less than the TP’s TPREPAY, the TP shall recalculate the repayment obligation in accordance with an amortization schedule agreed to by the Parties.

Repayment of Debt. (a) By the 10th day of each month, the TP shall calculate and communicate to the Az ISA, the Az ISA’s repayment obligation debtrepayment obligationowed to the TP for the subsequent billing month (the “Transmission Provider’s Provider’sDebt Repayment” or “TPREPAYTPDR”) as described“TPREPAY”) as defined in Rate Schedule 1. (b) Within five (5) business days of the day on which the Az ISA receives the information specified in Section 4.02(a), the Az ISA shall notify the TP by phone or E-mail if it disagrees with the TP’s calculation. Disagreements as to the correct amount that are not resolved within five (5) days of the date the Az ISA gives said notice to the TP shall be subject to the dispute resolution procedures contained herein. (c) By the 10th day of each billing month, the TP shall remit to the Az ISA, in accordance with the provisions in Section 4.04 4.054.04 (Electronic Payment) and Rate Schedule 1, all revenues associated with the Az ISA’s repayment repaymentofthe Az ISA’s debt obligation for that billing month collected by the TP from each SC. (d) To the extent the TP collects from SCs an amount of money that exceeds the TP’s TPDR,TPREPAY, the excess revenue shall be used to reduce the remaining principal associated with the repayment obligation to the TP, as on the loan made by the TPas listed in Exhibit 1. Whenever said suchsaid additional payment is made, the TP shall recalculate the repayment loan paymentrepayment obligation in accordance with an amortization schedule agreed to by the Parties. (e) To the extent the TP collects from SCs an amount of money that is less than the TP’s TPDR,TPREPAY, the TP shall recalculate the repayment loan paymentrepayment obligation in accordance with an amortization schedule agreed to by the Parties.. 4.03