Semi-Annual Energy Transition Charge Adjustments Sample Clauses

Semi-Annual Energy Transition Charge Adjustments. The Servicer will calculate and make semi-annual Energy Transition Charge Adjustments as of each Adjustment Date commencing with the first Adjustment Date as follows: (i) subtract the preceding period’s Energy Transition Charge revenues collected and remitted from the preceding period’s Periodic Payment Requirement to calculate the under-collection or over-collection from the preceding period; (ii) calculate the amount of the Energy Transition Charge Adjustment, by (A) correcting any under-collection or over-collection calculated in step (i) over a period of up to 12 months covering the next two succeeding payment dates (in order to mitigate the size and impact of the adjustment), using the rules that (x) principal payments on the Energy Transition Bonds will be brought on schedule over the next two succeeding Payment Dates, but (y) the resulting periodic billing requirement always must be sufficient to cover Ongoing Financing Costs and interest on the Energy Transition Bonds and (over the next two succeeding bond payment dates) scheduled principal payments on the Energy Transition Bonds on a timely basis, plus (B) adding any amount carried forward from the previous Energy Transition Charge Adjustment by the operation of step (A) above during the preceding Energy Transition Charge Adjustment calculation, plus (C) adding any amount necessary to replenish the Capital Subaccount consistent with Findings of Fact Paragraph 66 and 85 of the Financing Order; (iii) add the amount calculated in step (ii) to the upcoming period’s trued-up Periodic Billing Requirement, and subtract the balance, if any, in the Excess Funds Subaccount to determine an adjusted Periodic Billing Requirement for the upcoming period; (iv) add the amount, if a positive number, equal to the difference of the return to Cleco Power on Cleco Power’s invested capital in the Issuer for the preceding period minus the actual investment earnings thereon from the eligible investments made by the Trustee at the written direction of the Issuer pursuant to the terms of the Indenture for the preceding period, to the amount calculated in step (iii); (v) allocate the result from step (iv) using the allocation factors approved by the LPSC in the Financing Order and develop Customer Class-specific Energy Transition Charge rates based on those allocated dollar amounts in accordance with Cleco Power’s most recently completed annual base revenue forecast; and (vi) file those adjusted Energy Transition Charge rat...
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Related to Semi-Annual Energy Transition Charge Adjustments

  • Indemnification Notwithstanding any contrary provision contained in this Agreement, any election hereunder or any termination of this Agreement, and whether or not this Agreement is otherwise carried out, the provisions of Section 5 shall not be in any way affected by such election or termination or failure to carry out the terms of this Agreement or any part hereof.

  • WHEREAS the Company desires the Warrant Agent to act on behalf of the Company, and the Warrant Agent is willing to so act, in connection with the issuance, registration, transfer, exchange, redemption and exercise of the Warrants; and

  • Miscellaneous The Vendor acknowledges and agrees that continued participation in TIPS is subject to TIPS sole discretion and that any Vendor may be removed from the participation in the Program at any time with or without cause. Nothing in the Agreement or in any other communication between TIPS and the Vendor may be construed as a guarantee that TIPS or TIPS Members will submit any orders at any time. TIPS reserves the right to request additional proposals for items or services already on Agreement at any time.

  • Governing Law This Agreement shall be governed by and construed in accordance with the laws of the State of New York.

  • Definitions As used in this Agreement, the following terms shall have the following meanings:

  • Termination In the event that either Party seeks to terminate this DPA, they may do so by mutual written consent so long as the Service Agreement has lapsed or has been terminated. Either party may terminate this DPA and any service agreement or contract if the other party breaches any terms of this DPA.

  • Severability Any provision of this Agreement that is prohibited or unenforceable in any jurisdiction shall, as to such jurisdiction, be ineffective to the extent of such prohibition or unenforceability without invalidating the remaining provisions hereof, and any such prohibition or unenforceability in any jurisdiction shall not invalidate or render unenforceable such provision in any other jurisdiction.

  • Limitation of Liability No provision hereof, in the absence of any affirmative action by the Holder to exercise this Warrant to purchase Warrant Shares, and no enumeration herein of the rights or privileges of the Holder, shall give rise to any liability of the Holder for the purchase price of any Common Stock or as a stockholder of the Company, whether such liability is asserted by the Company or by creditors of the Company.

  • Force Majeure If by reason of Force Majeure, either party hereto shall be rendered unable wholly or in part to carry out its obligations under this Agreement through no fault of its own then such party shall give notice and full particulars of Force Majeure in writing to the other party within a reasonable time after occurrence of the event or cause relied upon. Upon delivering such notice, the obligation of the affected party, so far as it is affected by such Force Majeure as described, shall be suspended during the continuance of the inability then claimed but for no longer period, and such party shall endeavor to remove or overcome such inability with all reasonable dispatch. In the event that Vendor’s obligations are suspended by reason of Force Majeure, all TIPS Sales accepted prior to the Force Majeure event shall be the legal responsibility of Vendor and the terms of the TIPS Sale Supplemental Agreement shall control Vendor’s failure to fulfill for a Force Majeure event.

  • Assignment This Agreement and all rights and obligations hereunder may not be assigned without the written consent of the other party.

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