Common use of Tariff adjustments Clause in Contracts

Tariff adjustments. Unless EBRD otherwise agrees in writing, the Borrower shall take, or cause to be taken, all actions required to adjust the tariffs applicable (as of the date of this Agreement) to any of the Borrower’s services to reflect inflation and ensure full cost recovery and compliance with the financial covenants provided under Section 5.11 (Financial Ratios) throughout the term of this Agreement, as follows: each tariff shall be increased to (x) cover: direct operating and exploitation expenses (including, without limitation, royalties); maintenance and repair costs; amortization and depreciation; financial costs (including interest expenses and repayment of principal); mandatory investments required for the replacement, rehabilitation and refurbishment of existing assets and any other investment required for the purpose of implementing the projects co-financed with EU Cohesion Funds; and (y) ensure profit for the Borrower in accordance with the Delegation Contract; each tariff for the water supply service and the wastewater service shall also be increased in real terms in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) of this Agreement; the adjustments of the tariffs in real terms contemplated in paragraph (ii) above do not include: (a) the inflation from the period between the tariff adjustments made in accordance with paragraph (ii); and (b) VAT. The tariffs increased in real terms as contemplated in Section 5.12 (ii) above, will be adjusted to reflect the inflation in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) to this Agreement. the tariffs shall also be increased in accordance with the Delegation Contract..

Tariff adjustments. Unless EBRD otherwise agrees in writing, the Borrower shall take, or cause to be taken, all actions required to adjust the tariffs applicable (as of the date of this Agreement) to any of the Borrower’s services to reflect inflation and ensure full cost recovery and compliance with the financial covenants provided under Section 5.11 (Financial Ratios) throughout the term of this Agreement, as follows: : (i) each tariff shall be increased to (x) cover: : (a) direct operating and exploitation expenses (including, without limitation, royalties); ; (b) maintenance and repair costs; ; (c) amortization and depreciation; ; (d) financial costs (including interest expenses and repayment of principal); ; (e) mandatory investments required for the replacement, rehabilitation and refurbishment of existing assets and any other investment required for the purpose of implementing the projects co-financed with EU Cohesion Funds; and (y) ensure profit for the Borrower in accordance with the Delegation Contract; ; (ii) each tariff for the water supply service and the wastewater service shall also be increased in real terms in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) of to this Agreement; ; (iii) the adjustments of the tariffs in real terms contemplated in paragraph (ii) above do not include: (a) the inflation from the period between the tariff adjustments made in accordance with paragraph (ii); and (b) VAT. The tariffs increased in real terms as contemplated in Section 5.12 (ii) above, will be adjusted to reflect the inflation in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) to this Agreement. ; and (iv) the tariffs shall also be increased in accordance with the Delegation Contract...

Tariff adjustments. Unless EBRD otherwise agrees in writing, the Borrower shall take, or cause to be taken, all actions required to adjust the tariffs applicable (as of the date of this Agreement) to any of the Borrower’s services to reflect inflation and ensure full cost recovery and compliance with the financial covenants provided under Section 5.11 (Financial Ratios) throughout the term of this Agreement, as follows: each tariff shall be increased to (x) cover: direct operating and exploitation expenses (including, without limitation, royalties); maintenance and repair costs; amortization and depreciation; financial costs (including interest expenses and repayment of principal); mandatory investments required for the replacement, rehabilitation and refurbishment of existing assets and any other investment required for the purpose of implementing the projects co-financed with EU Cohesion Funds; and (y) ensure profit for the Borrower in accordance with the Delegation Contract; each tariff for the water supply service, the wastewater service and the wastewater storm water service shall also be increased in real terms in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) of to this Agreement; the adjustments of the tariffs in real terms contemplated in paragraph (ii) above do not include: (a) the inflation from for the period between the tariff adjustments made in accordance with paragraph (ii); and (b) VAT. The tariffs increased in real terms as contemplated in Section 5.12 (ii) above, will shall be adjusted to reflect the inflation in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) to this Agreement. ; and the tariffs shall also be increased in accordance with the Delegation Contract...

Tariff adjustments. Unless EBRD otherwise agrees in writing, the Borrower shall take, or cause to be taken, all actions required to adjust the tariffs applicable (as of the date of this Agreement) to any of the Borrower’s services to reflect inflation and ensure full cost recovery and compliance with the financial covenants provided under Section 5.11 (Financial Ratios) throughout the term of this Agreement, as follows: : (i) each tariff shall be increased to (x) cover: : (a) direct operating and exploitation expenses (including, without limitation, royalties); ; (b) maintenance and repair costs; ; (c) amortization and depreciation; ; (d) financial costs (including interest expenses and repayment of principal); ; (e) mandatory investments required for the replacement, rehabilitation and refurbishment of existing assets and any other investment required for the purpose of implementing the projects co-financed with EU Cohesion Funds; and (y) ensure profit for the Borrower in accordance with the Delegation Contract; ; (ii) each tariff for the water supply service, the wastewater service and the wastewater storm water service shall also be increased in real terms in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) of to this Agreement; ; (iii) the adjustments of the tariffs in real terms contemplated in paragraph (ii) above do not include: (a) the inflation from for the period between the tariff adjustments made in accordance with paragraph (ii); and (b) VAT. The tariffs increased in real terms as contemplated in Section 5.12 (ii) above, will shall be adjusted to reflect the inflation in accordance with the tariff strategy contemplated in Schedule 4 (Tariff Strategy) to this Agreement. ; and (iv) the tariffs shall also be increased in accordance with the Delegation Contract...