System Net Revenues definition

System Net Revenues means System Revenues remaining after payment of Maintenance and Operation Costs then due and payable.

System Net Revenues means the remaining System Revenues after deducting Operation and Maintenance Costs.

System Net Revenues means for any period, System Revenues less Operation and Maintenance Costs for such period; provided that certain adjustments in the amount of System Net Revenue deemed collected during a Fiscal Year may be made in connection with amounts deposited in the Rate Stabilization Fund as provided in Section 3.6 herein.

Examples of System Net Revenues in a sentence

• The Installment Purchase Agreement creates a valid pledge, to secure the payment of Purchase Payments by the City, of Distribution System Net Revenues to the extent legally available and, until the Crossover Date, Surplus Revenues of the Electric System, on the terms and conditions set forth therein.

• The District shall punctually pay or cause to be paid the principal and interest to become due in respect of all of the 2017 Bonds, in strict conformity with the terms of the 2017 Bonds and of the Indenture, according to the true intent and meaning thereof, but only out of System Net Revenues and other assets pledged for such payment as provided in the Indenture.

• The obligation of the City to make the Installment Payments under the Installment Purchase Agreement is a special obligation of the City payable solely from the System Net Revenues (as defined under the Installment Purchase Agreement), and does not constitute a debt of the City or of the State of California or of any political subdivision thereof in contravention of any constitutional or statutory debt limitation or restriction.

• The City will not enter into any lease or agreement which impairs the operation of the System or any part thereof necessary to secure adequate System Net Revenues for the payment of the Installment Payments, or which would otherwise impair the rights of the Owners with respect to the System Net Revenues or the operation of the System.

• This Bond and the interest, premium, if any, hereon and all other 2017 Bonds and the interest and premium, if any, thereon (to the extent set forth in the Indenture) are special obligations of the District, secured by a pledge and lien on the System Revenues and any other amounts on deposit in certain funds and accounts created under the Indenture, and payable from the System Net Revenues.

• The term “Contracts” means all contracts of the District previously or hereafter authorized and executed by the District, the payments under which are payable from System Net Revenues on a parity with the 2017 Bonds and which are secured by a pledge and lien on System Revenues as described in Section 5.01 hereof; but excluding contracts entered into for operation and maintenance of the System.

• Within 55 days of the end of each Bond Year, upon the Written Request of the District, an amount shall be deposited to the Rebate Fund by the Trustee from any System Net Revenues legally available for such purpose (as specified by the District in the aforesaid Written Request), if and to the extent required so that the balance in the Rebate Fund shall equal the amount of Rebatable Arbitrage so calculated in accordance with clause (i) of this subsection (a).

• The obligation of the District to pay interest and principal on the 2017 Bonds is a special obligation of the District payable solely from the System Net Revenues, and does not constitute a debt of the District or of the State of California or of any political subdivision thereof (other than the District) in contravention of any constitutional or statutory debt limitation or restriction.

• The obligation of the City to pay interest on, principal of and redemption premiums on, if any, the Bonds is a special obligation of the City payable solely from the System Net Revenues, and does not constitute a debt of the City or of the State of California or of any political subdivision thereof in contravention of any constitutional or statutory debt limitation or restriction.

• Participial Modifier: A participial modifier is a meaningful phrase containing a participle, such as “running”, “related” etc that modifies a noun or verb phrase.

More Definitions of System Net Revenues

System Net Revenues means, for any period, the System Revenues for such period less the Operation and Maintenance Costs for such period. When held by the Trustee in any funds or accounts established hereunder, System Net Revenues shall include all interest or gain derived from the investment of amounts in any of such funds or accounts.

System Net Revenues means for any period System Revenues less Operation and Maintenance Costs for such period; provided that certain adjustments in the amount of System Net Revenue deemed collected during a Fiscal Year may be made in connection with amounts deposited in the Rate Stabilization Fund as provided in the Indenture; provided further, that System Net Revenues does not include any amounts pledged to pay debt service on the Senior 2001 Bonds.

System Net Revenues means, for any Fiscal Year or other period of calculation, the System Revenues for such Fiscal Year or other period of calculation less the Maintenance and Operation Costs for such Fiscal Year or other period of calculation.

System Net Revenues means for any period System Revenues less Operation and Maintenance Costs for such period. System Revenue Fund

System Net Revenues means System Revenues less operations and maintenance (excluding depreciation and debt service) of a Member.