Renewal and Replacement Requirement definition

Renewal and Replacement Requirement means the amount, if any, for the then current Fiscal Year in the Annual Budget.
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Renewal and Replacement Requirement means, so long as the Outstanding Parity Bonds are Outstanding, the amount required to be on deposit in the Renewal and Replacement Account pursuant to the Master Ordinance, and thereafter, shall be the amount determined by the City as reasonably necessary for such purposes.
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Renewal and Replacement Requirement means the amount, if any, for the then- current Fiscal Year as set forth in the Annual Budget.
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Examples of Renewal and Replacement Requirement in a sentence

  • Beginning in the month in which the initial Project Bonds are delivered, if such delivery occurs before the 20th day of any month or in the following month if such delivery occurs after the 20th day of any month, and continuing in each month thereafter, deposits to the Renewal and Replacement Account shall be increased by one-twelfth ( 1/12) of the Renewal and Replacement Requirement until the amount in the Renewal and Replacement Account is equal to the Renewal and Replacement Requirement.

  • Based on the pro forma, the parties anticipate that the Buyer will realize Net Revenues in each of the first four 12 month periods following the Closing ("Test Year(s)") sufficient to (i) fund the Renewal and Replacement Requirement, (ii) fund (iii) the Capital Improvement Plan Requirement pay 30 year level debt service on the Acquisition Bonds, and (iv) provide Buyer with net profits of $4.5 Million.

  • There shall be accumulated in the Renewal and Replacement Fund the greater of (i) $10,000,000 or (ii) four percent (4%) of the original cost of the buildings, equipment, and furnishings constituting the System as determined at the end of each Fiscal Year (the "Renewal and Replacement Requirement").

  • If the amount on deposit in the Renewal and Replacement Fund is, at any time, less than the Renewal and Replacement Requirement, payments shall be made from Pledged Revenues, but after and subject to the payments required in provisions contained in paragraph (a) of this Section, in semiannual installments on or before each May 20 and November 20 on which there is a deficiency, in amounts not less than $50,000.


More Definitions of Renewal and Replacement Requirement

Renewal and Replacement Requirement means has the meaning assigned to it in Section 4.06 of the Master Trust Indenture. ―Requisition‖ has the meaning provided in Section 4. ―RTD‖ means the Regional Transportation District, a public agency created in 1969 by the Colorado General Assembly whose bus and light rail transportation system serves all or parts of Denver, Broomfield, Boulder, Jefferson, western Xxxxx and Arapahoe counties, northern Xxxxxxx County, and small areas of Weld County. ―RTD Funding Agreement‖ means the CDOT, HPTE, and RTD U.S. 36 Project Intergovernmental Agreement, dated as of August 31, 2011, among CDOT, the Borrower and RTD, which among other items, includes RTD’s $120 million funding commitment. ―Secretary‖ means the United States Secretary of Transportation. ―Secured Parties‖ means the Trustee, the TIFIA Lender and the Hedging Banks. ―Semi-Annual Payment Date‖ means each January 1 and July 1 or if such day is not a Business Day, then the Business Day following such January 1 or July 1. ―Senior Bonds Debt Service Reserve Account‖ means the Senior Bonds Debt Service Reserve Account established and maintained pursuant to the Master Trust Indenture for purposes of complying with Section 15(n) hereof.
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Renewal and Replacement Requirement means the amount recommended to be deposited in the Renewal and Replacement Fund for any 12-month period by the Chief Executive Officer pursuant to the Indenture.
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Renewal and Replacement Requirement means, with respect to each Fiscal Year, an amount to be set forth in the Annual Budget for Renewal and Replacement Costs for that Fiscal Year.
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Renewal and Replacement Requirement means has the meaning assigned to it in Section 4.06 of the Master Indenture.
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Renewal and Replacement Requirement means, as of the Effective Date and for any Calculation Date thereafter, an amount equal to the aggregate of (a) one hundred percent (100%) of expected Renewal and Replacement Costs for the following 12-month period, (b) eighty percent (80%) of expected Renewal and Replacement Costs for the next following 12-month period (i.e., year 2), (c) sixty percent (60%) of expected Renewal and Replacement Costs for the next succeeding 12-month period (i.e., year 3), (d) forty percent (40%) of expected Renewal and Replacement Costs for the next succeeding 12-month period (i.e., year 4), and (e) twenty percent (20%) of expected Renewal and Replacement Costs for the next succeeding 12-month period (i.e., year 5), as of the Effective Date, based on the forecast of estimated life cycle maintenance costs with respect to the I-25N Express Lanes set forth in the Base Case Financial Model and thereafter based on the then-current Engineer’s Report and the forecast of estimated life cycle maintenance costs with respect to the I-00X Xxxxxxx Xxxxx set forth in the Revised Financial Model submitted to the XXXXX Xxxxxx as part of the then-current Financial Plan.
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Renewal and Replacement Requirement means, as of any date, the amount that is necessary, in the opinion of the City Engineer of the City or a Parking Consultant, to provide during the next five years (or such longer period not to exceed ten years as such City Engineer or Parking Consultant may specify) for the reasonably anticipated costs of repair, replacement and renewal of the Project in order to maintain the Project in good repair, working order and condition, as required by the Indenture, and which amount shall be set forth in the current annual budget for the Project filed by the Authority with the Trustee in accordance with the Indenture.
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Related to Renewal and Replacement Requirement

  • Insurance Requirements means, collectively, all provisions of the Insurance Policies, all requirements of the issuer of any of the Insurance Policies and all orders, rules, regulations and any other requirements of the National Board of Fire Underwriters (or any other body exercising similar functions) binding upon each Loan Party which is an owner of Mortgaged Property and applicable to the Mortgaged Property or any use or condition thereof.

  • Approved Replacement means, with respect to a Market Quotation, an entity making such Market Quotation, which entity would satisfy conditions (a), (b), (c) and (d) of the definition of Permitted Transfer (as determined by Party B in its sole discretion, acting in a commercially reasonable manner) if such entity were a Transferee, as defined in the definition of Permitted Transfer.

  • Payment Requirement means the amount specified as being applicable to the Reference Entity in the Standard or its equivalent in the relevant Obligation Currency (or, if no such amount is specified, USD 1,000,000 or its equivalent in the relevant Obligation Currency) in either case as of the occurrence of the relevant Failure to Pay or Potential Failure to Pay, as applicable.

  • Project Requirements means the statement included in the Request for Proposal detailing the technical and other requirements of Canada which are to be met by the successful Bidder, and which are to be addressed in the Bid;

  • Maintenance Requirements shall have the meaning set forth in Clause 14.2;

  • performance requirement means a requirement that:

  • Performance Requirements The ordering entity reserves the right to inspect and verify that all deliveries are in accordance with specifications, both at the point of delivery and at the point of use. For orders that specify an “authorized party” to receive and inspect deliveries and/or installations, acceptance and inspection procedures must be performed by the” authorized party” to be considered and accepted by the ordering entity. Products inspected at the time of use are subject to refusal and return requirements for issues of quality such as defects in manufacturing and/or workmanship. Products will not be considered accepted by the ordering entity until the installation is complete for the applicable products.

  • Capital Replacement means the replacement of those items listed on Exhibit F.

  • Minimum Improvements means the acquisition of land and construction of a 152-unit market rate residential apartment building, construction of a stormwater pond and related improvements. The Minimum Improvements are more fully depicted in Exhibit B, which is attached hereto and incorporated herein.

  • Minimum Extended Summer Resource Requirement means, for Delivery Years through May 31, 2017, the minimum amount of capacity that PJM will seek to procure from Extended Summer Demand Resources and Annual Resources for the PJM Region and for each Locational Deliverability Area for which the Office of the Interconnection is required under Tariff, Attachment DD, section 5.10(a) to establish a separate VRR Curve for such Delivery Year. For the PJM Region, the Minimum Extended Summer Resource Requirement shall be equal to the RTO Reliability Requirement minus [the Limited Demand Resource Reliability Target for the PJM Region in Unforced Capacity]. For an LDA, the Minimum Extended Summer Resource Requirement shall be equal to the LDA Reliability Requirement minus [the LDA CETL] minus [the Limited Demand Resource Reliability Target for such LDA in Unforced Capacity]. The LDA CETL may be adjusted pro rata for the amount of load served under the FRR Alternative.

  • Minimum Balance Requirements The minimum balance to open the account is $5.00. If the balance falls below $5 at any time, the account may be closed. See Balance Computation Method above. Fees and Charges; Other Requirements: See our Schedule of Fees at xxxxxxx.xxx/xxxx. Dividends: See Disclosures Concerning Dividends above. Current rates are disclosed on the Credit Union’s website.

  • Minimum Hourly Work Requirement means the work hours over a given time period that are required of you by your Employer in order to be eligible for coverage. Your Minimum Hourly Work Requirement is specified in the Schedule of Benefits.

  • Construction Phase Services means the coordination, implementation and execution of the Work required by this Agreement, which are further defined in Article 8.

  • essential requirements means all the conditions set out in Annex III which must be met by the rail system, the subsystems, and the interoperability constituents, including interfaces;

  • Improvement completion assurance means a surety bond, letter of credit,

  • Substantial compliance means a level of compliance with these rules where any deficiencies pose no greater risk to resident health or safety than the potential for causing minor harm.

  • Major Alteration means change other than repair or replacement of building materials or equipment with materials and equipment of a similar type.

  • Equipment with Specific Operational Limits means any Equipment related to the thermal oxidation of waste or waste derived fuels, fume incinerators or any other Equipment that is specifically referenced in any published Ministry document that outlines specific operational guidance that must be considered by the Director in issuing of a Certificate of Approval.

  • Relevant Requirements means all applicable Law relating to bribery, corruption and fraud, including the Bribery Act 2010 and any guidance issued by the Secretary of State for Justice pursuant to section 9 of the Bribery Act 2010;

  • Tenant Improvement Work means the construction of the Tenant Improvements, together with any related work (including demolition) that is necessary to construct the Tenant Improvements.

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

  • Landlord’s Work means the work of constructing the Tenant Improvements.

  • Tenant’s Taxes means (a) all taxes, assessments, license fees and other governmental charges or impositions levied or assessed against or with respect to Tenant's personal property or Trade Fixtures in the Premises, whether any such imposition is levied directly against Tenant or levied against Landlord or the Property, (b) all rental, excise, sales or transaction privilege taxes arising out of this Lease (excluding, however, state and federal personal or corporate income taxes measured by the income of Landlord from all sources) imposed by any taxing authority upon Landlord or upon Landlord's receipt of any rent payable by Tenant pursuant to the terms of this Lease ("Rental Tax"), and (c) any increase in Taxes attributable to inclusion of a value placed on Tenant's personal property, Trade Fixtures or Alterations. Tenant shall pay any Rental Tax to Landlord in addition to and at the same time as Base Rent is payable under this Lease, and shall pay all other Tenant's Taxes before delinquency (and, at Landlord's request, shall furnish Landlord satisfactory evidence thereof). If Landlord pays Tenant's Taxes or any portion thereof, Tenant shall reimburse Landlord upon demand for the amount of such payment, together with interest at the Interest Rate from the date of Landlord's payment to the date of Tenant's reimbursement.

  • Corrective Maintenance means the maintenance which is required when an item has failed or worn out, to bring it back to working order, which may also include those services necessary to partially restore, renew or strengthen an existing Department facility or system, following damage caused by use or normal wear and tear.

  • Base Building Work means the base building work for the Building as described in this Manual.

  • Tenant Improvements Defined in Exhibit B, if any.