Operating Reserve Minimum definition

Operating Reserve Minimum means ( a ) 1,000 acre-feet of Operating Reserve Water in the Operating Reserve prior to the date that is three (3) years following the Performance Start Date,
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Operating Reserve Minimum means, at any particular time from and including the Completion Date, the aggregate projected Operating Expenditures, Taxes and working capital adjustments for the next 60 days determined with respect to the Base Case Financial Model.
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Operating Reserve Minimum means 1,000 acre-feet of Operating Reserve Water in the Operating Reserve.
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Examples of Operating Reserve Minimum in a sentence

  • The Performance Start Date shall not occur until the Operating Reserve Minimum has been allocated to the Operating Reserve.

  • Where amounts standing to the credit of the Operating Reserve Account have been applied in accordance with the previous sentence, the Borrower shall, within four (4) four months from such payment, ensure that the balance of the Operating Reserve Account is equal to or greater than the then applicable Operating Reserve Minimum.

  • Except as contemplated below, the Borrower shall, at all times, from the Reserve Account Funded Date maintain the balance in the Operating Reserve Account in an amount equal to or greater than the Operating Reserve Minimum.

  • The District and Agency may enter into water purchase agreements for AWT Water with Additional Project Participants subsequent to the Effective Date of this Agreement to the extent the District determines sufficient capacity exists, after accounting for the need to maintain the Operating Reserve Minimum and the Drought Reserve.

  • Any amount in the Operating Reserve Account in excess of the Operating Reserve Minimum (the "ORA Excess") may be transferred to the relevant Proceeds Account on any Repayment Date.

  • Obligations that are guaranteed include the following:  Operating Deficit Guaranty – The obligation to provide funds to cover any Operating Deficit after Breakeven Operations and continuing for three years and until the Operating Reserve Minimum balance of $542,143 has been achieved, as those terms are defined in the Operating Agreement.

  • Obligations that are guaranteed include the following: • Operating Deficit Guaranty – The obligation to provide funds to cover any Operating Deficit after Breakeven Operations and continuing for three years, with expiration on July 31, 2020, and until the Operating Reserve Minimum balance of $542,143 has been achieved, as those terms are defined in the Operating Agreement.

Related to Operating Reserve Minimum

  • Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

  • Primary Reserve Requirement means the megawatts required to be maintained in a Reserve Zone or Reserve Sub-zone as Primary Reserve, absent any increase to account for additional reserves scheduled to address operational uncertainty. The Primary Reserve Requirement is calculated in accordance with the PJM Manuals.

  • Required Reserve Amount means, with respect to any Payment Date, the lesser of (a) 0.25% of the difference of the Aggregate Starting Principal Balance less the Yield Supplement Overcollateralization Amount as of the applicable Cutoff Date of all Receivables transferred to the Trust and (b) the Outstanding Amount of the Notes.

  • Debt Service Reserve Requirement means, as of any date of calculation, and for any Fiscal Year, the amount equal to the maximum Adjusted Aggregate Debt Service on Bonds in the current or any future Fiscal Year on all Bonds Outstanding; provided, however, that if, upon the issuance of a Series of Bonds, such amount would require moneys, in an amount in excess of the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, to be deposited therein, the Debt Service Reserve Requirement shall mean an amount equal to the sum of the Debt Service Reserve Requirement immediately preceding issuance of such Bonds and the maximum amount permitted under the Code to be deposited therein from the proceeds of such Bonds, as certified by an Authorized Representative of the Authority; provided, further, that, if (i) the payment of the Principal Installments of or interest on any Series of Bonds or portion thereof is secured by a Special Credit Facility, (ii) the payment of the Tender Option Price of any Option Bond of a Series is secured by a Special Credit Facility or (iii) the Authority has determined in a Supplemental Resolution authorizing the issuance of a Series of Bonds that such Series of Bonds will not be secured by the Common Account in the Debt Service Reserve Fund, the Supplemental Resolution authorizing such Series may specify the Debt Service Reserve Requirement, if any, for the Bonds of such Series: provided, further, that if, as a result of the expiration or termination of a Financial Guaranty, a deficiency shall be created in the Debt Service Reserve Fund, the Debt Service Reserve Requirement shall be calculated so as to exclude the amount of such deficiency and the Debt Service Reserve Requirement shall be increased in each of the five Fiscal Years after the date such deficiency was created by an amount equal twenty per centum (20%) of the aforesaid deficiency.For the purpose of calculating the Debt Service Reserve Requirement for any Variable Rate Bonds of a Series, the maximum Adjusted Debt Service on such Series shall be determined by reference to the Pro Forma Bond Issue for the Variable Rate Bonds of such Series set forth in the Supplemental Resolution authorizing such Series.

  • Concentration Reserve Percentage means, at any time of determination, the largest of: (a) the sum of the five (5) largest Obligor Percentages of the Group D Obligors, (b) the sum of the three (3) largest Obligor Percentages of the Group C Obligors, (c) the sum of the two (2) largest Obligor Percentages of the Group B Obligors and (d) the largest Obligor Percentage of the Group A Obligors.

  • Reserve Zone means any of those geographic areas consisting of a combination of one or more Control Zone(s), as designated by the Office of the Interconnection in the PJM Manuals, relevant to provision of, and requirements for, reserve service.

  • Debt Service Reserve Fund Requirement means, with respect to the 2013 Series C Bonds and as of each determination date, an amount equal to maximum annual debt service on the 2013 Series C Bonds Outstanding from time to time and, with respect to any other Series of Bonds, the amount set forth in the Related Series Indenture.

  • Loss Reserve means, on any date, an amount equal to the Loss Percentage multiplied by the Net Receivables Balance as of the close of business of the Servicer on such date.

  • Primary Reserve Alert means a notification from PJM to alert Members of an anticipated shortage of Operating Reserve capacity for a future critical period.