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-10- <br /> To provide clarity, the term “Maintenance and Operation Costs” does not include Pleasanton Local Maintenance and Operation Costs. “Maximum Annual Expansion Project Debt Service” means, as of the date of any calculation and with respect to Expansion Project Debt Service, the maximum amount of Expansion Project Debt Service for the current or any future fiscal year during the term of this Contract and the Bonds. “Member” means Livermore, Pleasanton or the District. “Members” means Livermore, Pleasanton and the District. “Net Revenues” means, for each Member, such Member’s Gross Revenues, less such Member’s Maintenance and Operation Costs, less such Member’s share of LAVWMA Maintenance and Operation Costs, whether paid directly by such Member or, as in the case of Pleasanton, paid for Pleasanton by the District. “Obligations” means bonds, notes, installment sale agreements or other obligations issued or to be issued by the Members, the proceeds of which are applied to finance or refinance improvements or repair to their respective Sewer Systems, and payable from Charges. “Parity Bonds” has the meaning given to said term in the Indenture. “Participating Underwriter” has the meaning ascribed thereto in the Continuing Disclosure Certificate. “Pleasanton” means the City of Pleasanton, a municipal corporation duly organized and existing under and pursuant to the Constitution and laws of the State of California. “Pleasanton Local Charges” means fees, connection fees, capacity fees, tolls, assessments, rates and charges prescribed and collected by Pleasanton for the wastewater collection services and facilities of Pleasanton’s Sewer System furnished by Pleasanton within its jurisdiction. To provide clarity, the term “Pleasanton Local Charges” does not include the Regional Service Charge or the Regional Capacity Reserve Fee. “Pleasanton Local Maintenance and Operation Costs” means, for any given period for any given facilities of Pleasanton’s Sewer System, the reasonable and necessary costs of maintaining and operating such facilities during such period, calculated on sound accounting principles, including (among other things) the reasonable expenses of management and repair and other expenses necessary to maintain and preserve such facilities in good repair and working order, and reasonable amounts for administration, overhead, insurance, taxes (if any) and other similar costs, but excluding in all cases depreciation, replacement and obsolescence charges or reserves therefor; debt service, amortization of intangibles or other book-keeping