Underground Conversion Program. The Company shall budget and allocate an annual amount, equivalent to one percent (1%) of the preceding year’s Electric Gross Revenues, for the purpose of undergrounding its existing overhead electric distribution facilities located in City Streets (excluding privately owned electrical equipment, Public Utility Easements, and Other City Property within the City, as may be requested by the City Designee (the “Underground Program”), so long as the underground conversion does not result in end use customers of the Company incurring any costs related to the conversion and does not require the Company to obtain any additional land use rights. If the City requires Relocation of overhead electric facilities in the Streets and Other City Property and the Company determines that there is not adequate room within the Streets and Other City Property to relocate the Facilities overhead, the Company may relocate the Facilities underground and may charge the cost of undergrounding to the Underground Program.
Underground Conversion Program. The Company shall budget and allocate an annual amount, equivalent to one percent (1%) of the preceding year’s Electric Gross Revenues, for the purpose of undergrounding its existing overhead electric distribution lines in the City Streets (excluding alleys and access easements) and Other City Property, as may be requested by the City Designee (the “Underground Program”), so long as the underground conversion does not result in end use customers of the Company incurring any costs related to the conversion and does not require the Company to obtain any additional land use rights. If the City requires Relocation of overhead electric lines in the Streets and Other City Property and there is no room to relocate the lines overhead, the Company may relocate the Facilities underground and may charge the cost of undergrounding to the Underground Program.
Underground Conversion Program. The Company shall budget and allocate an annual amount, equivalent to one percent (1%) of the preceding year’s Electric Gross Revenues, for the purpose of undergrounding its existing overhead electric distribution lines located in City Streets (excluding alleys and access easements) and Other City Property within the City, as may be requested by the City Designee (the “Underground Program”), so long as the underground conversion does not result in end use customers of the Company incurring any costs related to the conversion and does not require the Company to obtain any additional land use rights. If the City requires Relocation of overhead distribution lines in the Streets and Other City Property and the Company determines that there is not adequate room within the Streets and Other City Property to relocate the overhead distribution lines, the Company may relocate the overhead distribution lines underground and may charge the cost of undergrounding to the Underground Program.
