![]() ![]() ![]() Any increase in charges assessed by Seller to Buyer under the Services Agreement attached as Exhibit F will not be used in calculating the percentage change in clause (v), except that, if Buyer incurs any such costs that are not prudent, then Seller shall have the right to object to such costs.Įxcepted Issuances means, collectively, (i) the Borrower’s issuance of securities in connection with strategic license agreements and other partnering arrangements so long as such issuances are not for the purpose of raising capital and in which holders of such securities or debt are not at any time granted registration rights, and (ii) the Borrower’s issuance of Common Stock or the issuances or grants of options to purchase Common Stock to employees, directors, and consultants, pursuant to plans which are constituted on the date of this Note.For purposes of any computation to be made in accordance with this Section 5, the following provisions shall be applicable:Īpplicable Maturity Date has the meaning assigned to such term in Section 2.25(a).Īpplicable to any Interest Period means a rate per annum determined pursuant to the following formula: * ACDR = + AR ACDR = Adjusted CD Rate CDBR = CD Base Rate DRP = Domestic Reserve Percentage AR = Assessment Rate _ * The amount in brackets being rounded upward, if necessary, to the next higher 1/100 of 1% The "CD Base Rate" applicable to any Interest Period is the rate of interest determined by the Agent to be the average (rounded upward, if necessary, to the next higher 1/100 of 1%) of the prevailing rates per annum bid at 10:00 A.M. Excepted Rate Matters" means: (i) any changes in the rate design or rate formula (ii) any change in the Rate Treatments proposed by Buyer, or placed into effect by the FERC ( iii) any misapplication of the formula rate that is the subject of the FERC Approvals (iv) any increase in transmission gross plant associated with projects undertaken as a result of satisfying RTO investment requirements that exceeds 115% of the RTO- estimated costs for the project (v) any cost components ( including, without limitation, Administrative and General Expenses and Operations and Maintenance Expenses (each as defined by the FERC Uniform System of Accounts), but excluding capital expenditures) that exceed by 15% the prior year's costs and (vi) any new rates, charges or surcharges and any terms and conditions of service.
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