Common use of Rate Adjustment Event Notice Clause in Contracts

Rate Adjustment Event Notice. Upon the occurrence of any Rate Adjustment Event under Section 6.2(f), the Party seeking such adjustment shall promptly give written notice to the other Party and the Utility Director for the Parish (a “Rate Adjustment Event Notice”) stating that a Rate Adjustment Event has occurred. The Rate Adjustment Event Notice shall set forth and include: (1) the details of the Rate Adjustment Event, including a specific explanation of the reasons that the event constitutes a Rate Adjustment Event under the terms of this Agreement; (2) the impact of such Rate Adjustment Event; (3) the specific amount of the requested rate adjustment and the manner in which such adjustment was calculated; (4) in the case of a Rate Adjustment Event Notice delivered by the Operator, the financial reports of the Operator which may include, without limitation, the balance sheet, income statement, statement of sources and applications of funds, detailed supporting schedules of expenses, income, assets and other items as may be appropriate, (5) a statement of current and projected customers, including actual year-on-year growth; and (6) all other information or documentation reasonably necessary to establish that the requested rate adjustment is proper and reasonable. If the Rate Adjustment Event is being triggered by the District, the District may request that the Operator provide it with such information necessary for the District to determine items (2) and (3) above, which may include the Operator information set forth in item (4) above.

Rate Adjustment Event Notice. Upon the occurrence of any Rate Adjustment Event under Section 6.2(f), the Party seeking such adjustment shall promptly give written notice to the other Party and the Utility Director for the Parish (a “Rate Adjustment Event Notice”) stating that a Rate Adjustment Event has occurred. The Rate Adjustment Event Notice shall set forth and include: (1) the details of the Rate Adjustment Event, including a specific explanation of the reasons that the event constitutes a Rate Adjustment Event under the terms of this Agreement; (2) the impact of such Rate Adjustment Event; (3) the specific amount of the requested rate adjustment and the manner in which such adjustment was calculated; (4) in the case of a Rate Adjustment Event Notice delivered by the Operator, the financial reports of the Operator which may include, without limitation, the balance sheet, income statement, statement of sources and applications of funds, detailed supporting schedules of expenses, income, assets and other items as may be appropriate, (5) a statement of current and projected customers, including actual year-year- on-year growth; and (6) all other information or documentation reasonably necessary to establish that the requested rate adjustment is proper and reasonable. If the Rate Adjustment Event is being triggered by the District, the District may request that the Operator provide it with such information necessary for the District to determine items (2) and (3) above, which may include the Operator information set forth in item (4) above.