Maintenance and Operation Expense definition

Maintenance and Operation Expense means all reasonable expenses incurred by the RECIPIENT in causing the Utility to be operated and maintained in good repair, working order, and condition including payments to other parties, but will not include any depreciation or RECIPIENT levied taxes or payments to the RECIPIENT in lieu of taxes.

Maintenance and Operation Expense means all reasonable expenses incurred by the RECIPIENT in causing the Utility to be operated and maintained in good repair, working order, and condition including payments to other parties, but will not include any depreciation or RECIPIENT levied taxes or payments to the RECIPIENT in lieu of taxes. “Net Revenue” means the Gross Revenue less the Maintenance and Operation Expense.

Maintenance and Operation Expense means all reasonable expenses incurred by the City in causing the Waterworks Utility System to be operated and maintained in good repair, working order and condition, including payments made to any other municipal corporation or private entity for drainage, sewerage, and water service (or other utility service if the City combines such service in the Waterworks Utility System and enters into a contract for such services), but not including any depreciation or taxes levied or imposed by the City or payments to the City in lieu of taxes, or capital additions to or capital replacements of any portion of the Waterworks Utility System.

Examples of Maintenance and Operation Expense in a sentence

• Annual Commercial Maintenance and Operation Expense per Square Foot n.

• Annual Residential Maintenance and Operation Expense per Square Foot m.

• The Council hereby finds that in fixing the amounts to be paid into the Bond Fund out of Gross Revenue, it has exercised due regard for the Maintenance and Operation Expense and has not obligated the City to set aside and pay into such Fund a greater amount of such Gross Revenue than in its judgment will be available over and above the Maintenance and Operation Expense.

• The premiums or other payments due with respect to such insurance policies (or municipal self-insurance pool) are declared to be a normal part of Maintenance and Operation Expense.

• The City Council finds and determines that the Gross Revenue and benefits to be derived from the operation and maintenance of the System at the rates to be charged for services from the System will be more than sufficient to meet all Maintenance and Operation Expense and to permit the setting aside into the Bond Fund out of the Gross Revenue of amounts sufficient to pay the principal of and interest on the Outstanding Parity Bonds and the Bonds when due.

• The Building Maintenance and Operation Expense shall be evaluated each year no later than March 31st, and Landlord’s obligation for its share of the Building Maintenance Expense shall be adjusted downward if applicable.

• It will pay all Maintenance and Operation Expense and the debt service requirements for the outstanding Parity Bonds, and otherwise meet the obligations of the City as herein set forth.

• For the first ten years of this lease, beginning January 1, 2020, Landlord shall pay to Tenant a portion of the Building Maintenance and Operation Expense for Resident Members’ use of the Demised Premises in the amount of $28.00 per month per taxable parcel within the District.

• Landlord and Tenant acknowledge and agree that the portion of the Building Operation and Maintenance Expense for Resident Members’ use of the Demised Premises in the amount of $28.00 per month is based on estimates of all of the Building Maintenance and Operation Expense, particularly insurance, and the number of Resident Members.

• Depreciation shall never be considered as a Maintenance and Operation Expense.

More Definitions of Maintenance and Operation Expense

Maintenance and Operation Expense means all reasonable expenses incurred by the City in causing the System to be operated and maintained in good repair, working order and condition, including payments made to any other municipal corporation for water or water service or for sewage treatment and disposal service in the event the City enters into a contract for such services, but not including any depreciation or taxes levied or imposed by the City or payments to the City in lieu of taxes.

Maintenance and Operation Expense means all current expenses of operating and maintaining the System, including all salaries, labor, materials, repairs and extensions necessary to render efficient service; provided, however, that only such repairs and extensions, as in the judgment of the City Council, reasonably and fairly exercised, are necessary to maintain the operations and render adequate service to the Issuer, or such as might be necessary to meet some physical accident or condition which would otherwise impair obligations payable from Pledged Revenues, shall be deducted in determining "Pledged Revenues." Maintenance and Operating Expenses shall include payments under contracts for water supply, treatment of sewage or other materials, goods or services for the System to the extent authorized by law and the provisions of such contract. Payments made by the Issuer for water supply or treatment of sewage which (i) under the law and (ii) pursuant to the terms of the contract therefor, are to be, operation and maintenance expenses shall be considered herein as expenses incurred in the operation and maintenance of the System. Depreciation shall never be considered as an expense of operation and maintenance.

Maintenance and Operation Expense means all reasonable expenses incurred by the recipient in causing the project to be operated and maintained in good repair, working order, and condition including payments to other parties, but will not include any depreciation or recipient levied taxes or payments to the recipient in lieu of taxes.

Maintenance and Operation Expense means all reasonable expenses incurred by the City in causing the Water Utility to be operated and maintained in good repair, working order and condition.