O&M Reserve Requirement definition

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

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, 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.

Examples of O&M Reserve Requirement in a sentence

• 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.

• In the event that upon the repayment of any O&M Reserve LC Loan and reinstatement of the Stated Amount of the O&M Reserve LC, the effect of which is that the aggregate sum of such reinstated Stated Amount and amount of funds on deposit in the Debt Service Reserve Account exceeds the O&M Reserve Requirement, then such excess amount shall be transferred to the Revenue Account to be applied pursuant to Section 6(b).

• 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.

• Letters of Credit issued under the Credit Facilities will be used to (a) fund the Debt Service Reserve Requirement and the O&M Reserve Requirement and (b) fund the Projects’ various security or credit support requirements under certain Major Project Contracts.

• No later than the Closing Date, the Borrower shall deposit or cause to be deposited into the O&M Reserve Account (through the delivery to the Collateral Agent of the OMR Letter of Credit, from the Revenue Account pursuant to Section 7.3(b) or otherwise) an amount equal to the O&M Reserve Requirement calculated as of the Closing Date.

More Definitions of O&M Reserve Requirement

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 has the meaning assigned to it in Appendix A to the MSA.

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 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, 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 $6,000,000.

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.