Opening Cash Position definition
Opening Cash Position means (i) with respect to the first to fourth Rate Rebasing Dates and up to the date of execution of this Agreement, the Net Present Value as at June 30 following such Rate Rebasing Date of the real Cash Flows occurring between the Commencement Date and such Rate Rebasing Date in connection with the Concessionaire’s carrying out its obligations under this Concession Agreement using the Appropriate Discount Rate determined and approved by the MWSS and Regulatory Office and (ii) following the execution of this Agreement, the Net Present Value as at June 30 following such Rate Rebasing Date of Cash Flows occurring since the last Rate Rebasing Date together with the Opening Cash Position determined with respect to the last Rate Rebasing Date in connection with the Concessionaire’s carrying out its obligations under this Concession Agreement, using a fixed twelve percent (12%) nominal discount rate.
Opening Cash Position means (i) with respect to the first Rate Rebasing Date, the Net Present Value as at June 30 following such Rate Rebasing Date of the real Cash Flows occurring between the Commencement Date and such Rate Rebasing Date in connection with the Concessionaire’s carrying out its obligations under this Concession Agreement using the Appropriate Discount Rate determined as of the Commencement Date and (ii) with respect to any subsequent Rate Rebasing Date, the Net Present Value as at June 30 following such Rate Rebasing Date of Cash Flows occurring since the last Rate Rebasing Date together with the Opening Cash Position determined with respect to the last Rate Rebasing Date in connection with the Concessionaire’s carrying out its obligations under this Concession Agreement, using the Appropriate Discount Rate determined at the last Rate Rebasing Date. For purposes of calculating the Opening Cash Position, any prior negative Rebasing Convergence Adjustments shall be deemed to have been applied in full in the first Charging Year of the Respective Rate Rebasing period, and not over the five year period set forth in Section 9.4.3 (ii).
Examples of Opening Cash Position in a sentence
Not later than March 31 preceding each Rate Rebasing Date, the Concessionaire shall also supply the Regulatory Office with information on its Expenditures, Receipts, Cash Flows, Opening Cash Position and Future Cash Flows in a form and manner, and covering such time periods, as the Regulatory Office may determine.
Not later than March 31 preceding each Rate Rebasing Date, the Concessionaire shall supply the Regulatory Office with information on its Expenditures, Receipts, Cash Flows, Opening Cash Position and Future Cash Flows in a form and manner, and covering such time periods, as the Regulatory Office may determine.