Excess Increment definition
Examples of Excess Increment in a sentence
In any event, the corporation shall have the right to purchase and maintain insurance on behalf of any such persons whether or not the corporation would have the power to indemnify such person against the liability insured against.
For the avoidance of doubt, any Excess Increment shall be net [***] of Landfill Gas reserved for use by Republic.
If at any time during the Term, Republic makes available to Developer at the Delivery Point a minimum, monthly average of [***] of Excess Landfill Gas for [***] months (the “Excess Increment”), Republic will provide written notice to Developer as to the existence of such Excess Increment.
At the conclusion of the Excess Option Period, providing that the Excess Increment has been maintained, if Developer has not increased its Design Capacity to utilize the Excess Increment, Republic may utilize the Excess Increment for any and all purposes, including, without limitation, making long-term commitments with respect to such Excess Increment, and Developer shall not have any priority with respect to such Excess Increment specified in such notice.
However, for the avoidance of doubt, Developer will maintain priority rights to any future Excess Increment up to the Design Capacity of the Developer Facility.
Developer will then have eighteen (18) months from the date of such notice from Republic (the “Excess Option Period”) in which to modify the Design Capacity of the Developer Facility to allow for utilization of each Excess Increment.
The quantity of such Excess Increment will be confirmed by mutual agreement of the parties.
Developer acknowledges that: (A) in no event may the City’s General Fund or any of the Agency’s general funds be obligated for any Agency indebtedness under this Financing Plan; and (B) the Agency must apply Net Available Increment(including Excess Increment, if any) only in compliance with the CCRL and this Financing Plan.