Operation and Maintenance Reserve definition

Operation and Maintenance Reserve means an amount equal to one sixth (1/6) of the amount appropriated in the annual budget for Operation and Maintenance Expenses for the then current Fiscal Year; provided, however, the amount may be reduced by a supplemental resolution in accordance with the Bond Resolution.
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Examples of Operation and Maintenance Reserve in a sentence

  • The remaining start numbers between 1 and 30 will then be drawn amongst the competitors ranked 16 to 30 according to current FIS points.

  • The FIS Facility Fee shall be equal to the sum of Operation and Maintenance Expenses, Debt Service, Debt Service Coverage, Debt Service Reserve Requirement, Operation and Maintenance Reserve, Non-amortized Capital Expenditures and Amortization Charges attributable to the FIS Facility divided by projected total international Deplaned Passengers using the FIS Facility during the Rate Setting Period.

  • Any amounts remaining in the Local Water Fund on the last day of each Fiscal Year shall be paid to the General Account in the Operation and Maintenance Reserve Fund.

  • This Line Item includes the Operation and Maintenance Reserve for the current Rate Setting Period less the Operation and Maintenance Reserve for the prior Rate Setting Period allocated to the Terminal, Airfield and Baggage Handling System Cost Centers.

  • The Total Requirement is the sum of the following line items: Operation and Maintenance Expenses, Operation and Maintenance Reserve Charge, Debt Service, Debt Service Coverage, Debt Service Reserve Requirement, Non- amortized Capital Expenditures and Amortization Charges.

  • This line item includes the Operation and Maintenance Reserve for the current Rate Setting Period less the Operation and Maintenance Reserve for the prior Rate Setting Period allocated to the Terminal, Airfield and Baggage Handling System Cost Centers.

  • The Total Requirement is the sum of the following line items: Operation and Maintenance Expenses, Operation and Maintenance Reserve, Debt Service, Debt Service Coverage, Debt Service Reserve Requirement, Non-amortized Capital Expenditures and Amortization Charges.

  • On the twentieth day of each month, the City shall, from the remaining money in the Revenue Fund, credit or transfer to the Operation and Maintenance Reserve Account, an amount equal to one-thirty sixth (1/36) of the Operation and Maintenance Reserve Requirement.

  • It includes, among others; an Operation and Maintenance Reserve for repairs of damaged Water District’s facilities due to natural calamities, public disorders, and the like; and a Capital Reserve for expansion of the Water District’s facilities.

  • Once the aggregate amount credited or transferred to the Operation and Maintenance Reserve Account equals the Operation and Maintenance Reserve Requirement, no credit or transfer need be made if the amount of money contained therein is at least equal to the Operation and Maintenance Reserve Requirement.

Related to Operation and Maintenance Reserve

  • Operation and Maintenance or “O&M” shall mean all activities required to operate, maintain, and monitor the effectiveness of the RA as specified in the SOW or any EPA-approved O&M Plan.

  • Operation and Maintenance Expenses or ‘O&M expenses' means the expenditure incurred on operation and maintenance of the project, or part thereof, and includes the expenditure on manpower, repairs, spares, consumables, insurance and overheads;

  • Operation and Maintenance Costs means the costs of:

  • Operations and maintenance means a project delivery method in which the District enters into a single contract for the routine operation, routine repair, and routine maintenance of an infrastructure facility.

  • Planned Maintenance means any Maintenance BT has planned to do in advance.

  • Routine maintenance means actions performed on a regular or controllable basis or in response to uncontrollable events upon a highway, road, street, or bridge. Routine maintenance includes, but is not limited to, 1 or more of the following:

  • Deferred Maintenance means improvements necessary for continued operations which do not improve productivity or alter the process technology.

  • Maintenance Adder means an adder that may be included to account for variable operation and maintenance expenses in a Market Seller’s Fuel Cost Policy. The Maintenance Adder is calculated in accordance with the applicable provisions of PJM Manual 15, and may only include expenses incurred as a result of electric production.

  • Maintenance and Operations Revenue or “M&O Revenue” means (i) those revenues which the District receives from the levy of its annual ad valorem maintenance and operations tax pursuant to Section 45.002 of the TEXAS EDUCATION CODE, or other lawful authority, and Article VII § 3 of the TEXAS CONSTITUTION, plus (ii) all State revenues to which the District is or may be entitled under the applicable provisions of the TEXAS EDUCATION CODE or any other statutory provision as well as any amendment or successor statute to these provisions, as applicable, less

  • Maintenance area means any geographic region of the United States previously designated nonattainment pursuant to the CAA Amendments of 1990 and subsequently redesignated to attainment subject to the requirement to develop a maintenance plan under Section 175A of the CAA, as amended.

  • Maintenance Costs means parts and materials, sublet and labour costs of a qualified licensed mechanic for the maintenance of the Revenue Service Vehicles, but shall not include costs associated with interior and exterior transit advertising signs and non-mechanical servicing of Revenue Service Vehicles such as fuelling, clearing fareboxes, cleaning and painting wheel rims, vehicle washing and other work performed by a serviceman; and,

  • Maintenance Term means the period of time for which Customer has purchased Maintenance Services, as evidenced by the Purchase Order delivered by Customer in connection therewith, together with all renewals effected in accordance with Section 4 of this Agreement.

  • Support and Maintenance Services means the support and maintenance services described in Section 1 of these Support Terms.

  • Prosecution and Maintenance or “Prosecute and Maintain” means, with regard to a Patent Right, the preparing, filing, prosecuting and maintenance of such Patent Right, as well as handling re-examinations, reissues, and requests for patent term extensions with respect to such Patent Right, together with the conduct of interferences, the defense of oppositions and other similar proceedings with respect to the particular Patent Right. For clarification, “Prosecution and Maintenance” or “Prosecute and Maintain” will not include any other enforcement actions taken with respect to a Patent Right.

  • Emergency Maintenance means any period of maintenance for which, due to reasons beyond its reasonable control, Sprint Convergence is unable to provide prior notice of.

  • Monthly Maintenance Statement shall have the meaning set forth in Clause 19.6;

  • Software Maintenance means the process of modifying software after delivery to correct faults, improve performance or other attributes, or adapt to a changed environment. (Reference ISO/IEC 14764:2006, as amended or superseded.) Software maintenance does not include any customization or configuration.

  • Scheduled Maintenance means any adjustment, repair, removal, disassembly, cleaning, or replacement of components or systems required by the manufacturer which is performed on a periodic basis to prevent part failure or equipment or engine malfunction, or anticipated as necessary to correct an overt indication of malfunction or failure for which periodic maintenance is not appropriate.

  • AMPS Basic Maintenance Amount, as of any Valuation Date, means the dollar amount equal to (i) the sum of (A) the product of the number of shares of AMPS and Other AMPS Outstanding on such Valuation Date multiplied by the sum of (a) $25,000 and (b) any applicable redemption premium attributable to the designation of a Premium Call Period; (B) the aggregate amount of cash dividends (whether or not earned or declared) that will have accumulated for each share of AMPS and Other AMPS Outstanding, in each case, to (but not including) the end of the current Dividend Period that follows such Valuation Date in the event the then current Dividend Period will end within 49 calendar days of such Valuation Date or

  • Maintenance Fees means the non-refundable fees payable annually by Licensee to OT for Support Services;

  • Maintenance work means the repair of existing facilities when the size, type or extent of such facilities is not thereby changed or increased. While “maintenance” includes painting and decorating and is covered under the law, it does not include work such as routine landscape maintenance or janitorial services.

  • Maintenance Fee The Maintenance Fee (see Contract Schedule I) will be deducted during the Accumulation Period from the Current Value on each anniversary of the date the Account is established and upon surrender of the entire Account.

  • Maintenance Test means the maintenance test set out in Clause 12.1 (Maintenance Test).

  • maintenance order , in relation to a court, means an order made by a court —

  • Retail Service and Maintenance Sector Means the service and maintenance of retail facilities which includes financial institutions, retail businesses, schools and hospitals but does not include commercial premises as defined.

  • Maintenance agreement means a document recorded in the land records that acts as a property deed restriction, and which provides for long-term maintenance of stormwater management practices.