Laserfiche WebLink
(iv) The dates on which the principal of and interest on the Loan is <br /> paid; and <br /> (v) The existence and amount of reserve funds for the Loan, if any. <br /> (b) The delegation in paragraph (a) of this Section 3 shall be subject to the <br /> following parameters and restrictions: <br /> (i) the interest rate on each of the Loan shall not exceed 2.00%; <br /> (ii) the aggregate principal amount of the Loans shall not exceed$17,392,200; <br /> (iii) the final maturity of any of the Loans shall not be later than December 31, <br /> 2055; and <br /> (iv) the amortization of such loan shall result in substantially level annual <br /> payments of aggregate principal and interest in each year in which <br /> principal shall be payable. <br /> SECTION 4. Pledge of Revenues. The creation, perfection, enforcement, and priority <br /> of the pledge of revenues to secure or pay the Financing Documents provided herein shall be <br /> governed by Section 11-57-208 of the Supplemental Act and this Resolution. The amounts <br /> pledged to the payment of the Financing Documents shall immediately be subject to the lien of <br /> such pledge without any physical delivery, filing, or further act. The lien of such pledge shall <br /> have the priority described in the Loan Contract. The lien of such pledge shall be valid, binding, <br /> and enforceable as against all persons having claims of any kind in tort, contract, or otherwise <br /> against the Enterprise irrespective of whether such persons have notice of such liens. <br /> For purposes of repayment of the Loan Contract with CWCB, the Pledged Power <br /> Revenues shall be defined as follows: <br /> The Pledged Power Revenues shall consist of the Net Power Revenues of the Project, as <br /> defined below: <br /> "Net Power Revenues" means the Gross Power Revenues after deducting the Operation <br /> and Maintenance Expenses. <br /> "Gross Power Revenues" means all income and revenues directly or indirectly derived <br /> by the Enterprise from the operation and use of the Project, or any part thereof, including <br /> without limitation, any rates, fees (including without limitation plant investment fees and <br /> availability fees), and charges for the services furnished by, or the use of, the Project, and <br /> all income attributable to any past or future dispositions of property or rights, or to any <br /> related contracts, settlements, or judgments held or obtained in connection with the <br /> Project or its operations (including, without limitation, a Power Purchase Agreement), <br /> and any amendments or modifications thereto and including investment income accruing <br /> from such moneys; provided however, that there shall be excluded from Gross Power <br /> APPENDIX 4 <br />