* “Life Underground: The Unseen Power of Microbes,” June 10-12, grades 9-12, University of Nebraska-Lincoln. Cost: $200; $150 (commuters)
On October 29, 2012 OTP entered into a Second Amended and Restated Credit Agreement (the OTP Credit Agreement), providing for an unsecured $170 million revolving credit facility that may be increased to $250 million on the terms and subject to the conditions described in the OTP Credit Agreement. On October 31, 2018 the OTP Credit Agreement was amended to extend its expiration date by one year from October 31, 2022 to October 31, 2023. OTP can draw on this credit facility to support the working capital needs and other capital requirements of its operations, including letters of credit in an aggregate amount not to exceed $50 million outstanding at any time. Borrowings under this line of credit bear interest at LIBOR plus 1.25%, subject to adjustment based on the ratings of OTP’s senior unsecured debt or the issuer rating if a rating is not provided for the senior unsecured debt. OTP is required to pay commitment fees based on the average daily unused amount available to be drawn under the revolving credit facility. The OTP Credit Agreement contains a number of restrictions on the business of OTP, including restrictions on its ability to merge, sell assets, make investments, create or incur liens on assets, guarantee the obligations of any other party, and engage in transactions with related parties. The OTP Credit Agreement also contains affirmative covenants and events of default, and financial covenants as described below under the heading ‘Financial Covenants.’ The OTP Credit Agreement does not include provisions for the termination of the agreement or the acceleration of repayment of amounts outstanding due to changes in OTP’s credit ratings. OTP’s obligations under the OTP Credit Agreement are not guaranteed by any other party.
Under the 2013 Note Purchase Agreement and the 2018 Note Purchase Agreement, OTP may not permit its Interest-bearing Debt to exceed 60% of Total Capitalization and may not permit its Priority Indebtedness to exceed 20% of its Total Capitalization, in each case as provided in the related agreement.
7. Retained Earnings and Dividend Restriction The Company is a holding company with no significant operations of its own. The primary source of funds for payments of dividends to the Company’s shareholders is from dividends paid or distributions made by the Company’s subsidiaries. As a result of certain statutory limitations or regulatory or financing agreements, restrictions could occur on the amount of distributions allowed to be made by the Company’s subsidiaries. Both the Company and OTP credit agreements contain restrictions on the payment of cash dividends upon a default or event of default. An event of default would be considered to have occurred if the Company did not meet certain financial covenants. As of December 31, 2018, the Company was in compliance with these financial covenants. Under the Federal Power Act, a public utility may not pay dividends from any funds properly included in a capital account. What constitutes ‘funds properly included in a capital account’ is undefined in the Federal Power Act or the related regulations; however, the FERC has consistently interpreted the provision to allow dividends to be paid as long as (1) the source of the dividends is clearly disclosed, (2) the dividend is not excessive and (3) there is no self-dealing on the part of corporate officials. The MPUC indirectly limits the amount of dividends OTP can pay to the Company by requiring an equity-to-total-capitalization ratio between 47.9% and 58.5% based on OTP’s 2018 capital structure petition effective by order of the MPUC on October 18, 2018. As of December 31, 2018, OTP’s equity-to-total-capitalization ratio including short-term debt was 53.2% and its net assets restricted from distribution totaled approximately $477 million. Total capitalization for OTP cannot currently exceed $1.2 billion.
Today much of the facility beyond the central administration block resembles the set for a post-apocalyptic action film
Fayemi says he’s convinced that Nigeria can no longer afford not to process its own resources. “The idea that we must be taking our iron ore out, our gold out, every raw material, for others to add value, and then send back to us to pay probably 10 times what it’s worth when we send them out is unthinkable,” he said.
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Multiple contractors, including Road & Bridge, are working concurrently under separate contracts to extend the expressway another 30 kilometers to reach Daishan Island, with a spur reaching Changbai Island. Meanwhile, the 8.8-km Yushan Bridge is being built to connect Yushan and Daishan islands. Together with the 2010 bridges, the roadway will stretch 86.68 km, the majority of it over water. Future sections will complete a giant circular route through the Yangtze River Delta area, creating an economic and physical beltway linking Shanghai, Ningbo and Zhoushan.
This course covers creating inventory, dealing with items and adjusting inventory counts on a continual basis. Students will learn about sales tax and sales tax groups, paying sales tax, running payroll and paying payroll liabilities. They will create capital assets and loan accounts and also discuss dealing with bad debt.
In the fourth quarter of 2018, Vallourec recorded revenue of €1,116 million, up 4.3% compared with the fourth quarter of 2017, and up 5.7% at constant exchange rates, driven by a 5.9% volume increase, particularly in the EA-MEA Oil & Gas market. Lower Powergen revenue was largely offset by higher Oil & Gas revenue.
Aside from players currently under contract, this will also affect how the Jets may plan to go about their offseason. In particular, the 2019 NFL Draft may present a host of different options now.
On a hot April morning, workers are furiously cleaning a decorative fountain in front of the executive office of Nigeria’s largest steel complex. An onsite power plant is being repaired by electricians. Others around the 39-year-old facility are clearing brush. In the middle of it all, administrator Abdul-Akaba Sumaila is meeting in turn with the 20 or so people crowding his waiting room, a mix of union officials, local politicians and job applicants.
OU Bounces Jackrabbits 30-6 | Sch 40 Steel Pipe Related Video:
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