Topic:"Corporate Adjustments" in M03413

1. ADJUSTMENT TO PRINCIPAL AMOUNT 1.1 The Principal Amount may be adjusted as provided in the Agreement and the Undersigned and the Holder agree to execute and deliver such amendments, revisions, supplements or releases necessary to make a...

AI summary The Principal Amount may be adjusted as outlined in the Agreement, with the Undersigned and Holder agreeing to execute necessary amendments, revisions, or supplements to implement such adjustments. This provision outlines the process for modifying the principal amount under the terms of the agreement.

NON-CONFIDENTIAL 1 Request IR-6: 2 3 Please explain the nature of the "Thermal & Hydro Contracts AO" in Appendix 2. 4 5 (a) Please explain whether these costs are an allocation of NSPI overheads, EUS 6 overheads, or something else. 7 8 Res...

AI summary The document discusses the 'Thermal & Hydro Contracts AO,' which is an allocation of NSPI overheads at a rate of 6.55 percent on thermal and hydro contracts. The AO rate is derived from NSPI Accounting Policies 6230 and 6235, which were approved by the UARB in 1998 and updated as necessary.

REVIEW OF OVERHEAD APPLICATION RATE 14 The overhead application rate will be reviewed on a periodic basis by Corporate Accounting Services to assess its reasonableness.

AI summary The overhead application rate will be periodically reviewed by Corporate Accounting Services to evaluate its reasonableness, ensuring alignment with operational and financial standards.

APPLICATION OF OVERHEAD 14 The overhead charged to a particular project is determined by multiplying the labour costs charged to the project by the overhead application rate. The charge is debited to a Capital Work Order while the credit i...

AI summary Overhead is calculated by multiplying project labor costs by the overhead application rate, with charges debited to Capital Work Orders and credited to specific general ledger accounts (095 and 092) under Operating, Maintenance, and General Expenses.

- .2 CSA Standards - .1 C156.1, Ceramic and Glass Station Post Insulators - .2 G164, Hot Dipped Galvanized or Irregularly Shaped Articles - .3 W59, Welded Steel Construction (metal-ark welding) - .3 NEMA Standards - .1 Std. SG-6, Power Swi...

AI summary This document outlines the standards and submittal requirements for electrical components, including CSA, NEMA, ANSI/IEEE, and ISO standards, as well as specifications for operation and maintenance data and manufacturer drawings for disconnect switches.

- .8 Formwork: - .1 Forms: to CSA-A23.1, plywood and lumber, clean and free of loose knots, splits or metal. - .2 Form Ties: to CSA-A23.1, removable or snap-off metal ties, fixed or adjustable length. Form ties, tie wire, spacers or other...

AI summary The text outlines specifications for formwork and concrete mix, referencing various Canadian standards and testing methods. It details requirements for materials such as form ties, release agents, and curing compounds, as well as specifications for concrete mix proportions and air content.

Protocols - 6.1 NSPI will provide access to regulated utility services on a non-discriminatory basis and will not in respect of those utility services directly or indirectly state, imply or offer any preference or favored treatment to NSPI...

AI summary The document outlines protocols for NSPI to ensure non-discriminatory treatment of affiliates, maintain financial separation, and apply fair market value pricing for goods and services exchanged with affiliates. It also emphasizes the need for Board approval for asset transfers and fair allocation of corporate support costs.

Protocols - 7.1 NSPI shall report annually to the Board the following information: - (a) A detailed listing of all assets, services and products provided to and from NSPI and each of its affiliated companies. - (b) Each item on the listing...

AI summary NSPI is required to annually report detailed information on its affiliate transactions to the Board, including asset listings, pricing, cost allocations, and explanations of fair market value determinations. The Board also reserves the right to audit these transactions as needed.

A. Transactions Between NSPI and its Affiliates [17] The issue of transactions between NSPI and its affiliated companies under the umbrella of Emera Inc. has been, for some time, a major area of concern to the Board. In the Board's view, a...

AI summary The document discusses concerns raised by the Board regarding transactions between NSPI and its affiliates under Emera Inc., highlighting past issues such as questionable financial benefits to affiliates, lack of transparency in salaries, and improper outsourcing. The Board has implemented and revised a Code of Conduct to protect ratepayers and ensure fair practices.