Rate Cap Limit definition

Rate Cap Limit means the limit set forth in Section 1-75(d)(2) of the Illinois Power Agency Act, as now in effect or hereafter amended, on the annual estimated average net increase in the amounts paid by Eligible Retail Customers in connection with electric service due to the costs incurred pursuant to sourcing agreements with Clean Coal Facilities. As of the Effective Date of this agreement, the Rate Cap Limit is as follows:
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Rate Cap Limit means the limit set forth in Section 1-75(d)(2) of the Illinois Power Agency Act, as now in effect or hereafter amended, on the annual estimated average net increase in the amounts paid by Eligible Retail Customers in connection with electric service due to the costs incurred pursuant to sourcing agreements with Clean Coal Facilities. As of the Effective Date of this agreement, the Rate Cap Limit is as follows:for Commonwealth Edison Eligible Retail Customers and Non-Eligible Retail Customers, $2.382 per MWh, per year;for Ameren Illinois Eligible Retail Customers and Non-Eligible Retail Customers, $2.169 per MWh, per year; andfor customers of each ARES, the Rate Cap Limit for the utility set forth in subsections (i) and (ii) of this definition, as applicable, which provides distribution services for the customers of the ARES.
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Rate Cap Limit means the limit set forth in Section 1‐75(d)(2) of the Illinois Power Agency Act, as now in effect or hereafter amended, on the annual estimated average net increase in the amounts paid by Eligible Retail Customers in connection with electric service due to the costs incurred pursuant to sourcing agreements with Clean Coal Facilities. As of the Effective Date of this agreement, the Rate Cap Limit is as follows:
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Examples of Rate Cap Limit in a sentence

  • Within 60 Days of the end of the Term, Seller shall provide for review and approval a determination of the final Contract Price Adjustment and Shortfall Damages Payment, given the Rate Cap Limit.

  • If the Monthly Clean Coal Rate results in a rate exceeding the applicable Rate Cap Limit, then Seller shall refund to Buyer an amount equal to the difference between the Monthly Clean Coal Rate and the applicable Rate Cap Limit, multiplied by Buyer’s total annual Final Buyer Retail Sales.

  • The Commission shall determine, pursuant to section 5.2, whether the Monthly Clean Coal Rate for the next Contract Year, excluding any penalties or other payments to Seller, would result in an estimated average incremental rate increase for Buyer’s customers for the next Contract Year greater than the applicable Rate Cap Limit.

  • Subject to any requirements of the Commission from time to time and subject to the Rate Cap Limit, Seller may change the Monthly Contract Price, or any component thereof, based on actual Project Costs incurred or projected to be incurred by Seller.

  • If for any Contract Year Seller determines that the Monthly Clean Coal Rate would result in an average incremental rate increase greater than the applicable Rate Cap Limit, then the Monthly Clean Coal Rate for each Contract Month in the next Contract Year will be adjusted downward in a manner pro- rata across all Contract Months so that the Monthly Clean Coal Rate does not result in an estimated average incremental rate increase greater than the applicable Rate Cap Limit.

  • The Rate Cap Limit of the Monthly Contract Price is determined on a Monthly basis pursuant to Sections 5.2(d) and 6.3 and Exhibit 6.3.

  • The Projected Rate Cap Limit for each Buyer is provided below which illustrates these calculations.

  • Some of these functions will be very useful in a military market, others will not.

  • Not later than 60 Days before the end of each Contract Year, Seller The Commission shall determine, pursuant to section 5.2, and submit to Buyer and the Commission its determination whether the Monthly Clean Coal Rate for the next Contract Year, excluding any penalties or other payments to Seller, would result in an estimated average incremental rate increase for Buyer’s customers for the next Contract Year greater than the applicable Rate Cap Limit.

  • An example of this determination is attached as Exhibit 6.3(b).(b) Not later than 110 Days following the end of each Contract Year, Seller shall determine and report to the Commission whether the Monthly Clean Coal Rate for the immediately preceding Contract Year, excluding any penalties or other payments to Seller, resulted in an estimated average incremental rate increase for Buyer’s customers for the applicable Contract Year greater than or less than the applicable Rate Cap Limit.

Related to Rate Cap Limit

  • Interest Rate Cap Payment (a) With respect to the Class A-2, Class A-3 and Class A-4 Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 35 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class A-2, Class A-3 and Class A-4 Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis, (ii) the applicable Class A-2 and Class A-3 notional amount set forth on Schedule A to the Class A-2, Class A-3 and Class A-4 Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; (b) with respect to the Class M Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class M Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class M notional amount set forth on Schedule A to the Class M Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement; and (c) with respect to the Class B Certificates, beginning on the first Distribution Date and continuing through the immediately succeeding 43 Distribution Dates thereafter, the amount, if any, equal to the product of (i) the excess, if any, of the lesser of (A) one-month LIBOR rate as of the related reset date under the Class B Cap Agreement and (B) the applicable cap ceiling rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date over the applicable cap strike rate set forth on Schedule A to such Interest Rate Cap Agreement for such Distribution Date, calculated on an "actual/360" basis; (ii) the applicable Class B notional amount set forth on Schedule A to the Class B Cap Agreement for that Distribution Date and (iii) the multiplier set forth on Schedule A to such Interest Rate Cap Agreement.

  • Net WAC Cap The Group 1 Net WAC Cap, the Group 2 Net WAC Cap or the Subordinate WAC Cap, as applicable.

  • Maximum Swingline Amount means $5,000,000.

  • Maximum Cap Rate For any Distribution Date with respect to the Group I Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group I Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Group II Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group II Mortgage Loans minus an amount, expressed as a percentage, equal to the Net Swap Payment and Swap Termination Payment, if any (other than termination payments resulting from a Swap Provider Trigger Event), due from the Trust for such Distribution Date, multiplied by 12, weighted on the basis of the outstanding Stated Principal Balances of the Group II Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12. For any Distribution Date with respect to the Mezzanine Certificates, a per annum rate equal to the sum of (i) the product of (x) the weighted average (weighted on the basis of the results of subtracting from the aggregate Stated Principal Balance of the applicable Loan Group, the current Certificate Principal Balance of the related Class A Certificates) of the weighted average of the Expense Adjusted Net Maximum Mortgage Rates of the Group I Mortgage Loans and the Group II Mortgage Loans, in each case, weighted on the basis of the outstanding Stated Principal Balances of the related Mortgage Loans as of the first day of the month preceding the month of such Distribution Date (after giving effect to scheduled payments of principal due during the related Due Period, to the extent received or advanced, and unscheduled collections of principal received during the related Prepayment Period) and (y) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days elapsed in the related Interest Accrual Period and (ii) an amount, expressed as a percentage, equal to a fraction, the numerator of which is equal to the Net Swap Payment made by the Interest Rate Swap Provider and the denominator of which is equal to the aggregate Stated Principal Balance of the Mortgage Loans, multiplied by 12.

  • Maximum Loan Rate With respect to each Mortgage Loan, the percentage set forth in the related Mortgage Note as the maximum Loan Rate thereunder.

  • Net WAC Cap Rate With respect to any Distribution Date, the product of (i) a per annum rate equal to the weighted average of the Net Mortgage Rates (or, if applicable, the Modified Net Mortgage Rates) using the Net Mortgage Rates in effect for the Monthly Payments due on such Mortgage Loans during the related Due Period, weighted on the basis of the respective Stated Principal Balances thereof for such Distribution Date and (ii) a fraction equal to 30 divided by the actual number of days in the related Interest Accrual Period.

  • Interest Rate Cap means a Cap.

  • Excess Overcollateralization Amount With respect to any Distribution Date, the excess, if any, of (a) the Overcollateralization Amount on such Distribution Date over (b) the Required Overcollateralization Amount for such Distribution Date.

  • Maximum Rate Cap Any of the Class A-1 Maximum Rate Cap, the Class A-2 Maximum Rate Cap or the Weighted Average Maximum Rate Cap.

  • Maximum Face Amount means, with respect to any outstanding Letter of Credit, the face amount of such Letter of Credit including all automatic increases provided for in such Letter of Credit, whether or not any such automatic increase has become effective.

  • Maximum Revolving Advance Amount means $25,000,000.

  • Specified Overcollateralization Amount means for any Distribution Date, the greater of:

  • Interest Rate Cap Agreement means, as applicable, an Interest Rate Cap Agreement (together with the confirmation and schedules relating thereto) in form and substance reasonably satisfactory to Lender between Borrower and an Acceptable Counterparty or a Replacement Interest Rate Cap Agreement.

  • Maximum Stock Loan Rate As provided in Annex A to this Confirmation.

  • Advance Amount means with respect to Class A Advances, the Class A Advance Amount and, with respect to Class B Advances, the Class B Advance Amount.

  • Periodic Mortgage Rate Cap With respect to an Adjustable Rate Mortgage Loan, the periodic limit on each Mortgage Rate adjustment as set forth in the related Mortgage Note.

  • Maximum Advance Amount shall be Two Hundred Fifty Thousand Dollars ($250,000) per Advance Notice.

  • Maximum Yield Supplement Amount means with respect to any Collection Period and the related Deposit Date, after giving effect to the Yield Supplement Amount, the maximum amount required to be on deposit in the Yield Supplement Account on the immediately succeeding Payment Date, which is equal to the present value (using an interest rate of: 0.25%) of the sum of all Yield Supplement Amounts for all future Payment Dates, assuming that future Scheduled Payments on the Discount Receivables are made on the date on which they are scheduled as being due.

  • Excess Overcollateralized Amount With respect to the Class A Certificates and the Mezzanine Certificates and any Distribution Date, the excess, if any, of (i) the Overcollateralized Amount for such Distribution Date (calculated for this purpose only after assuming that 100% of the Principal Remittance Amount on such Distribution Date has been distributed) over (ii) the Overcollateralization Target Amount for such Distribution Date.

  • Maximum Facility Amount means the aggregate Commitments as then in effect, which amount shall not exceed $200,000,000; provided that at all times after the Reinvestment Period, the Maximum Facility Amount shall mean the aggregate Advances Outstanding at such time.

  • Maximum Credit Amount means, as to each Lender, the amount set forth opposite such Lender’s name on Annex I under the caption “Maximum Credit Amounts”, as the same may be (a) reduced or terminated from time to time in connection with a reduction or termination of the Aggregate Maximum Credit Amounts pursuant to Section 2.06(b) or (b) modified from time to time pursuant to any assignment permitted by Section 12.04(b).

  • Overcollateralization Reduction Amount With respect to any Distribution Date on which the Excess Overcollateralization Amount is, after taking into account all other distributions to be made on such Distribution Date, greater than zero, the Overcollateralization Reduction Amount shall be equal to the lesser of (i) the Excess Overcollateralization Amount for that Distribution Date and (ii) the Principal Remittance Amount on such Distribution Date.

  • Overcollateralization Increase Amount With respect to any Distribution Date, the lesser of (a) the Overcollateralization Deficiency Amount as of such Distribution Date and (b) the Net Monthly Excess Cashflow for such Distribution Date.

  • WAC Cap With respect to the Mortgage Loans as of any Distribution Date, the product of (i) the weighted average of the Adjusted Net Mortgage Rates then in effect on the beginning of the related Due Period on the Mortgage Loans and (ii) a fraction, the numerator of which is 30 and the denominator of which is the actual number of days in the Interest Accrual Period related to such Distribution Date.

  • Class B-2 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-2 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-2 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-2 Prepayment Percentage for such Distribution Date will be zero.

  • Class B-6 Prepayment Percentage As to any Distribution Date, except as set forth in the next sentence, the percentage calculated by multiplying (i) the Subordinated Prepayment Percentage by (ii) a fraction, the numerator of which is the Class B-6 Principal Balance (determined as of the Determination Date preceding such Distribution Date) and the denominator of which is the sum of the Principal Balances of the Classes of Class B Certificates eligible to receive principal distributions for such Distribution Date in accordance with the provisions of Section 4.01(d). Except as set forth in Section 4.01(d)(ii), in the event that the Class B-6 Certificates are not eligible to receive distributions of principal in accordance with Section 4.01(d)(i), the Class B-6 Prepayment Percentage for such Distribution Date will be zero.