Ratemaking Overview

Settlement & True-Up

Not available

Extraordinary Coverage Protection (ECP)

Not available

Landing Fee Methodology

Not available

Terminal Rental Rate

Not available

Common Use & Gate Allocation

Additional Bonds Test

Not fully specified in extracted text; references exist to Additional Senior Bonds issuance conditions under the Master Senior Indenture

Rate Covenant

Net Revenues in each Fiscal Year must be at least equal to: (i) interest on and principal of Outstanding Senior Bonds required to be funded; (ii) required deposits to any Senior Debt Service Reserve Fund; (iii) reimbursement owed to any Credit Provider or Liquidity Provider; (iv) interest on and principal of any indebtedness other than Senior Bonds, including Subordinate Obligations; and (v) payments of any reserve requirement for debt service for any indebtedness other than Senior Bonds. Additionally, Net Revenues must be equal to at least 125% of total Senior Aggregate Annual Debt Service on Outstanding Senior Bonds.

Flow of Funds

All Revenues deposited in Revenue Account. Priority waterfall: (1) Operation and Maintenance Subaccount - monthly deposit of 1/12 of estimated annual O&M expenses; (2) Senior Debt Service Funds - monthly transfers by 15th of month for 1/6 interest, 1/12 principal, 1/12 sinking installments; (3) Senior Debt Service Reserve Funds - amounts required to replenish reserves; (4) Subordinate Obligations Debt Service Funds - monthly by 20th for subordinate debt payments; (5) Subordinate Obligations Debt Service Reserve Funds - monthly by 20th for replenishment; (6) Operation and Maintenance Reserve Subaccount - monthly by 20th; (7) Renewal and Replacement Subaccount - monthly by 20th. Remaining revenues transferred to Revenue Fund at fiscal year end unless otherwise directed.