Net Revenues Available for Debt Service definition

Net Revenues Available for Debt Service means the Revenues less amounts necessary to pay Operation and Maintenance Expenses.

Net Revenues Available for Debt Service means all Net Revenues less debt service on Senior Obligations.

Net Revenues Available for Debt Service means the Net Revenues.

Examples of Net Revenues Available for Debt Service in a sentence

• There shall be charged rates for each fiscal year which shall ensure that its Net Revenues Available for Debt Service will equal at least 110% of its System Debt Service for such fiscal year.

• In each fiscal year, or as soon as practicable, and in any event by the date of the delivery of the unaudited financial statements required in the Loan Agreement, the City shall (a) calculate its Net Revenues Available for Debt Service and System Debt Service for the fiscal year, and (b) certify such figures to the South Dakota Conservancy District.

• If in any Fiscal Year, Net Revenues Available for Debt Service are an amount less than as hereinbefore provided, the Issuer will make adjustments to such rates, fees and charges to bring the Utility into compliance with this covenant.

• The Issuer will, from time to time as often as necessary, in accordance with and subject to applicable legal requirements, revise the rates and charges aforesaid in such manner as may be necessary or proper so that the Net Revenues Available for Debt Service will be sufficient to cover the obligations under the provisions of the Bond Resolution.

• It shall be the policy of the Issuer that the rates, fees and charges established for the Water Utility and the Sewer Utility shall each be sufficient to provide Net Revenues Available for Debt Service with respect to Utility Indebtedness issued for improvements to each such component of the Utility which meet the coverage requirements set forth herein to the extent reasonably practical.

More Definitions of Net Revenues Available for Debt Service

Net Revenues Available for Debt Service means, for the period of determination, all Revenues less all Expenses.

Net Revenues Available for Debt Service means, for any period, the sum of (i) unrestricted revenues (operating and nonoperating) less unrestricted expenses (operating and nonoperating), exclusive of unrealized and realized gains and losses on long-term investments, (ii) all interest expense of the Borrower for such period with respect to Long-Term Indebtedness, and (iii) all depreciation expense for such period; provided that no determination of Net Revenues Available for Debt Service shall take into account any disposition of capital assets not in the ordinary course of business to the extent otherwise included in the foregoing calculations of revenue and expenses, any other gains or losses resulting from changes in accounting principles not involving the receipt or expenditure of cash, or any other non-operating, non-cash expenses.

Net Revenues Available for Debt Service means, for the period of determination, total revenues from the Borrower’s System, including investment income, penalties, hook-up fees, sign-up fees, membership fees and similar income not received from users for System use, and proceeds of any business interruption insurance but excluding grants, less expenses of the System other than noncash expenses and interest, provided there shall be excluded from both revenues and expenses any internal transfers, profits or losses on the early extinguishment of debt or the sale or other disposition, not in the ordinary course of business, of investments or fixed or capital assets and other extraordinary gains or losses.

Net Revenues Available for Debt Service means for the period of determination, Revenues less all Current Expenses, all as determined in accordance with generally accepted accounting principles, but excluding any profits or losses on the early extinguishment of debt or on the sale or other disposition, not in the ordinary course of business, of investment or fixed or capital assets.

Net Revenues Available for Debt Service means, for the period of determination, Revenues less Current Expenses.

Net Revenues Available for Debt Service means the total of all unrestricted revenues, income, receipts and money received by or on behalf of the Corporation from any and all sources whatsoever (other than proceeds of borrowing and other than revenues, income, receipts and money received by the Corporation as agent of someone other than the Corporation) including, but without limiting the generality of the foregoing, (i) net tuition and fees (being gross tuition and fees less scholarship and fellowship allowances), (ii) unrestricted gifts, grants and contributions, (iii) auxiliary enterprises revenues, (iv) return on investments (excluding unrealized gains or losses), (v) net assets released from restriction, (vi) unrestricted amounts received for governmental grants and programs, and (vii) all other revenue, remaining after deduction of the Corporation's operating expenses (other than depreciation, amortization, and interest expense); provided, however, that no determination of Net Revenues Available for Debt Service shall take into account any (a) gain or loss resulting from either the extinguishment or refinancing of indebtedness or the sale, exchange or other disposition of capital assets not made in the ordinary course of business, or (b) unrealized gains and losses on investments or hedging transactions, or (c) termination amounts or mark to market on investments or hedging transactions, or (d) audit restatements, or (e) any "other than temporary" impairment loss, or (f) non- recurring, unanticipated gains or losses that are considered to be extraordinary under generally accepted accounting principles.

Net Revenues Available for Debt Service under the Bond Resolution means, for any Fiscal Year or period of 12 calendar months, the Revenues during such Fiscal Year or period less Operation and Maintenance Expenses during such Fiscal Year or period.