Common use of Replacement and Maintenance Reserve Clause in Contracts

Replacement and Maintenance Reserve. 17.2.1 The Parties agree and acknowledge that a replacement and maintenance reserve sub- account shall be opened as a sub-account of the Escrow Account, wherein a reserve (being the “Replacement and Maintenance Reserve”) shall be maintained towards the O&M Expenses in respect of the SFM Project, and shall be exclusively so applied, in the event of an insufficiency of the Station Revenue for any monthly period or in accordance with the directions of Authority.

Replacement and Maintenance Reserve. 17.2.1 The Parties agree and acknowledge that a replacement and maintenance reserve sub- account shall be opened as a sub-account of the Escrow Account, for wherein a reserve (being the “Replacement and Maintenance Reserve”) shall be maintained towards the O&M Expenses in respect of the SFM Project, and shall be exclusively so applied, in the event of an insufficiency of the Station Revenue for any monthly period or in accordance with the directions of Authority.

Replacement and Maintenance Reserve. 17.2.1 The Parties agree and acknowledge that a replacement and maintenance reserve sub- account shall be opened as a sub-account of the Escrow Account, wherein a reserve (being the “Replacement ―Replacement and Maintenance Reserve”Reserve‖) shall be maintained towards the O&M Expenses in respect of the SFM Project, and shall be exclusively so applied, in the event of an insufficiency of the Station Revenue for any monthly period or in accordance with the directions of Authority.