Common use of Computation of Adjustments Clause in Contracts

Computation of Adjustments. Upon the occurrence of an event requiring an adjustment to Basic Rent payable pursuant to clause (ii) of Section 3(a), and the schedules of Casualty Values, special Casualty Values and Termination Values attached hereto, pursuant to paragraph (d) or (e) of this Section 3, the Owner Participant shall make the necessary computations and furnish to the Lessee, the Loan Participant, the Lessor and the Indenture Trustee the revised amounts and percentages, which amounts and percentages shall be implemented upon delivery thereof and effective as of the date of occurrence of the event requiring such adjustment (taking into account any payment of Basic Rent already made) and shall remain effective until changed in consequence of any verification procedure set forth below. Such revised amounts and percentages shall be subject to verification (at the Lessee's request made within 45 days after the Owner Participant shall have furnished the revised amounts to the Lessee) by the Owner Participant's nationally recognized independent public accountants (to whom the Owner Participant shall have provided all information necessary to perform such verification), in which case such accountants shall either (i) confirm to the Lessee in writing that such revised amounts were computed on a basis consistent with the original calculations, or (ii) if such accountants shall for any reason be unable to provide such confirmation, compute and provide to the Lessee, the Lessor, the Owner Participant, the Loan Participant and the Indenture Trustee revised amounts and percentages on such a basis. The revised amounts and percentages, as so confirmed or computed if applicable, shall be conclusive and binding upon the Lessee, the Lessor, and the

Appears in 1 contract

Sources: Facility Lease (Public Service Co of New Mexico)

Computation of Adjustments. Upon the occurrence of an event requiring an adjustment to Basic Rent payable pursuant to clause (ii) of Section 3(a), and the schedules of Casualty Values, special Special Casualty Values and Termination Values attached hereto, pursuant to paragraph (d) or (e) of this Section 3, the Owner Participant shall make the necessary computations and furnish to the Lessee, the Loan Participant, the Lessor and the Indenture Trustee the revised amounts and percentages, which amounts and percentages shall be implemented upon delivery thereof and effective as of the date of occurrence of the event requiring such adjustment (taking into account any payment of Basic Rent already made) and shall remain effective until changed in consequence of any verification procedure set forth below. Such revised amounts and percentages shall be subject to verification (at the Lessee's Lessee9s request made within 45 90 days after the Owner Participant shall have furnished furnishes the revised amounts to the Lessee, the Loan Participant, the Lessor and the Indenture Trustee) by the Owner Participant's nationally recognized independent public accountants (to whom the Owner Participant shall have provided all information necessary to perform such verification)accountants, in which case such accountants shall either (i) confirm to the Lessee in writing that such revised amounts were computed on a basis consistent with the original calculations, or (ii) if such accountants shall for any reason be unable to provide such confirmation, compute and provide to the Lessee, the Lessor, the Owner Participant, the Loan Participant and the Indenture Trustee revised amounts and percentages on such a basis. The revised amounts and percentages, as so confirmed or computed if applicable, shall be conclusive and binding upon the Lessee, the Lessor, and the

Appears in 1 contract

Sources: Facility Lease (Public Service Co of New Mexico)

Computation of Adjustments. Upon the occurrence of an event requiring an adjustment to Basic Rent payable pursuant to clause (ii) of Section 3(a), and the schedules of Casualty Values, special Special Casualty Values and Termination Values attached hereto, pursuant to paragraph (d) or (e) of this Section 3, the Owner owner Participant shall make the necessary computations and furnish to the Lessee, the Loan Participant, the Lessor and the Indenture indenture Trustee the revised amounts and percentages, which amounts and percentages shall be implemented upon delivery thereof and effective as of the date of occurrence of the event requiring such adjustment (taking into account any payment of Basic Rent already made) and shall remain effective until changed in consequence of any verification procedure set forth below. Such revised amounts and percentages shall be subject to verification (at the Lessee's request made within 45 90 days after the Owner Participant shall have furnished furnishes the revised amounts to the Lessee, the Loan Participant, the Lessor and the Indenture Trustee) by the Owner Participant's nationally recognized independent public accountants (to whom the Owner Participant shall have provided all information necessary to perform such verification)accountants, in which case such accountants shall either (i) confirm to the Lessee in writing that such revised amounts were computed on or' a basis consistent with the original calculations, or (ii) if such accountants shall for any reason be unable to provide such confirmation, compute and provide to the Lessee, the Lessor, the Owner Participant, the Loan Participant and the Indenture Trustee revised amounts and percentages on such a basis. The revised amounts and percentages, as so confirmed or computed if applicable, shall be conclusive and binding upon the Lessee, the Lessor, and the

Appears in 1 contract

Sources: Facility Lease (Public Service Co of New Mexico)