Common use of Minimum Balance of Account Clause in Contracts

Minimum Balance of Account. The Operator shall establish a reasonable minimum 13 balance for the operating account from which the Operator will make disbursements 14 for expenditures and obligations incurred by it pursuant to this Agreement. Such 15 minimum balance shall be reasonably calculated to provide adequate liquidity for 16 normal operations and to allow adequate time for notices and the exercise of 17 remedies against any of the Hassayampa Interconnectors, and may be revised by the 18 Operator from time to time to achieve such purposes. The Operator shall give 19 Interconnector notice of the amount of such minimum balance and any change 20 thereto. The Interconnector shall be responsible for its Pro Rata Share of such 21 minimum balance as in effect from time to time.

Minimum Balance of Account. The Operator shall establish a reasonable minimum 13 14 balance for the operating account from which the Operator will make disbursements 14 15 for expenditures and obligations incurred by it pursuant to this Agreement. Such 15 16 minimum balance shall be reasonably calculated to provide adequate liquidity for 16 17 normal operations and to allow adequate time for notices and the exercise of 17 18 remedies against any of the Hassayampa Interconnectors, and may be revised by the 18 19 Operator from time to time to achieve such purposes. The Operator shall give 19 20 Interconnector notice of the amount of such minimum balance and any change 20 21 thereto. The Interconnector shall be responsible for its Pro Rata Share of such 21 22 minimum balance as in effect from time to time.

Minimum Balance of Account. The Operator shall establish a reasonable minimum 13 12 balance for the operating account from which the Operator will make disbursements 14 13 for expenditures and obligations incurred by it pursuant to this Agreement. Such 15 14 minimum balance shall be reasonably calculated to provide adequate liquidity for 16 15 normal operations and to allow adequate time for notices and the exercise of 17 16 remedies against any of the Hassayampa Interconnectors, and may be revised by the 18 17 Operator from time to time to achieve such purposes. The Operator shall give 19 18 Interconnector notice of the amount of such minimum balance and any change 20 19 thereto. The Interconnector shall be responsible for its Pro Rata Share of such 21 20 minimum balance as in effect from time to time.