Common use of RATES AND CONNECTION CHARGES Clause in Contracts

RATES AND CONNECTION CHARGES. 9.1 Standard Rates Subject to the limitation of Section 12 of the Charter and the ADR, Standard Rates may be adjusted from time to time in accordance with the rate adjustment provisions set forth in Sections 9.2, 9.3 and 9.4 below. There shall be no increase in Standard Rates for water and sewerage services until December 31, 2022. For avoidance of doubt, approved Expenditures not recoverable during the tariff freeze period shall be, in part or in its entirety, considered as recoverable Expenditures in subsequent Rate Rebasing exercises as determined and approved by the Regulatory Office. The Regulatory Office shall determine and approve such Expenditure and its reasonable return based on the ADR in a manner consistent with Section 12.1 of this Agreement. Such Expenditure is deemed to have been incurred on the next Rate Rebasing Date, the recovery of which is subject to the preceding paragraph. The determination and approval by the Regulatory Office, if any, of such Expenditures and the non- recovery of such Expenditures shall not result (i) in the amendment of the Service Obligations of the Concessionaire; or (ii) the amendment of the Capital Expenditures Plan; or (iii) the extension of the Expiration Date of this Agreement.

RATES AND CONNECTION CHARGES. 9.1 Standard Rates Subject to the limitation of Section 12 of the Charter and the ADR, Standard Rates may be adjusted from time to time in accordance with the rate adjustment provisions set forth in Sections 9.2, 9.3 and 9.4 below. There shall be no increase in Standard Rates for water and sewerage services until December 31, 2022. For avoidance of doubt, approved Expenditures not recoverable during the tariff freeze period shall be, in part or in its entirety, considered as recoverable Expenditures in subsequent Rate Rebasing exercises as determined and approved by the Regulatory Office. The Regulatory Office shall determine and approve such Expenditure and its reasonable return based on the ADR in a manner consistent with Section 12.1 of this Agreement. Such Expenditure is deemed to have been incurred on the next Rate Rebasing Date, the recovery of which is subject to the preceding paragraph. The determination and approval by the Regulatory Office, if any, of such Expenditures and the non- recovery of such Expenditures shall not result (i) in the amendment of the Service Obligations service obligations of the Concessionaire; or (ii) the amendment of the Capital Expenditures PlanPlan in Annex [x]; or (iii) the extension of the Expiration Date of this Agreement.