July (pdf) - New York Power Authority

Operating Expenses means the Authority’s expenses for operation, maintenance, ordinary repairs and
ordinary replacements of any Project, including, without limiting the generality of the foregoing, the costs
of supplies, fuel, fuel assemblies and components required by the Authority for the operation of any Project
(including any payments made pursuant to a ‘‘take-or-pay’’ fuel supply or energy contract that obligates the
Authority to pay for fuel, energy or power regardless of whether fuel or energy is delivered or made
available for delivery, other than any such contract or portion thereof that is designated by the Authority as
either a Subordinate Contract Obligation or a Parity Contract Obligation), administrative expenses,
insurance premiums, legal and engineering expenses, consulting and technical services, payments for
energy conservation and load management programs, payments relating to fuel or electricity hedging
instruments, payments for employee benefits, including payments to savings, pension, retirement, health and
hospitalization funds, charges payable by the Authority pursuant to any licenses, orders or mandates from
any agency or regulatory body having lawful jurisdiction, any payments in lieu of taxes or other payments to
municipal governments agreed to be paid by the Authority and any taxes, governmental charges, and any
other expenses required to be paid by the Authority, all to the extent properly and directly attributable to
any Project; financing costs of any Series of Obligations; the expenses, liabilities and compensation of the
fiduciaries required to be paid under the General Resolution or pursuant to any agreement executed by the
Authority; all costs and expenses associated with or arising out of the research, development (including
feasibility and other studies) and/or implementation of any project, facility, system, task or measure deemed
desirable or necessary by the Authority; and all other costs and expenses arising out of or in connection with
the conduct of Authority business (other than costs and expenses attributable to a Separately Financed
Project), including those expenses the payment of which is not immediately required, such as those
expenses referenced in the second paragraph of the discussion of Operating Fund. Operating Expenses
shall not include any costs or expenses for new construction or for reconstruction other than restoration of
any part of a Project to the condition of serviceability thereof when new.
Operating Fund means the fund by that name established pursuant to the General Resolution.
Outstanding, when used with reference to Obligations or Obligations of a Series, means, as of any
date, Obligations or Obligations of such Series theretofore or thereupon being delivered under the General
Resolution except: (i) Any Obligations cancelled at or prior to such date; (ii) Obligations the principal and
Redemption Price, if any, of and interest on which have been paid in accordance with the terms thereof;
(iii) Obligations in lieu of or in substitution for which other Obligations shall have been delivered pursuant
to the General Resolution; (iv) Obligations deemed to have been paid as provided in the General Resolution;
and (v) Put Obligations tendered or deemed tendered in accordance with the provisions of the Supplemental
Resolution authorizing such Obligations on the applicable tender date, if the purchase price thereof and
interest thereon shall have been paid or amounts are available and set aside for such payment as provided
in such Supplemental Resolution, except to the extent such tendered Put Obligations thereafter may be
resold pursuant to the terms thereof and of such Supplemental Resolution.
Owner or any similar terms, means the registered owner of any Obligation as shown on the books for
the registration and transfer of Obligations maintained in accordance with the General Resolution.
Parity Contract Obligation has the meaning provided in the discussion of Credit Facilities; Qualified
Swaps and Other Similar Arrangements; Parity Debt herein.
Parity Debt means the 1985 Notes, any note issued pursuant to the 1995 Revolving Credit
Agreement, and any Parity Contract Obligation, Parity Reimbursement Obligation or Parity Swap
Obligation.
Parity Reimbursement Obligation has the meaning provided in the discussion of Credit Facilities;
Qualified Swaps and Other Similar Arrangements; Parity Debt herein.
App. 1-4