Major Maintenance Costs definition
Examples of Major Maintenance Costs in a sentence
Each Repauno Entity will have the right to request disbursements from the Repair and Replacement Reserve Account upon delivery to the Collateral Agent a Funds Transfer Certificate for the purpose of paying Major Maintenance Costs in accordance with the Major Maintenance Plan.
The Concessionaire shall sign the Approved Major Maintenance Contract(s) prior to the Major Maintenance Costs Funding Date and deliver certified (as being true and correct) copies of the Approved Major Maintenance Programme and the Approved Major Maintenance Contract(s), to the Authority, the Independent Engineer and the Independent Auditor within [seven (7) days] of signing of the same.
Not later than [six (6) months] prior to the Major Maintenance Commencement Date, the Independent Auditor and the Independent Engineer shall jointly issue a certificate to the Concessionaire specifying the Major Maintenance Costs payable on the relevant Major Maintenance Costs Funding Date (Major Maintenance Cost Certificate).
The Parties acknowledge and agree that the costs of each of the Major Maintenances (the Major Maintenance Costs) are expressly set out in the Financial Model and shall be adjusted for inflation in accordance with the Financial Model.
The Concessionaire shall fund the Major Maintenance Costs on each Major Maintenance Costs Funding Date based on the Major Maintenance Cost Certificate.