O&M Reserve Requirement definition

O&M Reserve Requirement means the amount calculated on or before July 1 of each year by the Management Committee to be equal to one quarter (1/4) of the projected amount of Operation and Maintenance Expenses for the immediately succeeding fiscal year as such amount may be revised upward or downward during the course of such fiscal year.

O&M Reserve Requirement means $2,570,000.

O&M Reserve Requirement has the meaning assigned to it in Appendix A to the MSA.

Examples of O&M Reserve Requirement in a sentence

• Currently, this includes O&M Expenses, O&M Reserve Requirement, net Depreciation, Amortization, Capital Outlay, and Debt Service.

• Currently, this includes the O&M Expenses, O&M Reserve Requirement, net Depreciation, Amortization, Capital Outlay, and Debt Service.

• The O&M Reserve Requirement may be revised from time to time and is currently set to equal at least six (6) months of the annual O&M Expenses budgeted for the current Fiscal Year.

• At the end of each Fiscal Year, after determination of Settlement in Section 8.04, AUTHORITY will share with the passenger Signatory Airlines a portion of Net Remaining Revenues (Total Revenues less O&M Expenditures, O&M Reserve Requirement, and Debt Service), if available, calculated in accordance with Exhibit F.

• Any amount in deposit in the O&M Reserve Account that exceeds the O&M Reserve Requirement at any time shall be transferred to the Project Revenue Subaccount of the Project Proceeds Account.

More Definitions of O&M Reserve Requirement

O&M Reserve Requirement means, as of any Quarterly Date following the Project Account Funding Date, an amount equal to total O&M Costs (other than O&M Costs for insurance and those described in clause (b) of the definition of O&M Costs) scheduled to be due and payable under the then current Annual Operating Budget within six months after such Quarterly Date.

O&M Reserve Requirement means, as of any Quarterly Payment Date, the amount equal to the total O&M Costs scheduled to be due and payable under the then current Annual Operating Budget within six months after such Quarterly Payment Date.

O&M Reserve Requirement means, for any Calculation Date, an amount equal to fifty percent (50%) of expected O&M Expenses for the following 12-month period.

O&M Reserve Requirement means, as of a given date, the amount of O&M Expenses due and payable over the following 6 month period as set forth in the Base Case Forecast.

O&M Reserve Requirement means an amount equal to 50% of the sum of the projected Fixed and Variable O&M Costs for the immediately succeeding twelve month period following the termination or expiry of the Operations Support Agreement, as set forth in the applicable Base Case Projections.

O&M Reserve Requirement means an amount equal to the maximum amount of Operating Costs for Borrower’s Project during the following six (6) months (as reflected in the Conversion Date Base Case Model).

O&M Reserve Requirement means $6,000,000.