Shortfall Payment definition

Shortfall Payment has the meaning specified in Section 3.7.

Shortfall Payment has the meaning set forth in Section 2.4(e).

Shortfall Payment has the meaning set forth in Section 7(b).

Examples of Shortfall Payment in a sentence

• The Parties agree that actual damages to Customer as the result of Seller’s failure to produce the Minimum Production Threshold would be difficult to ascertain, and the Shortfall Payment is a reasonable approximation of the damages suffered by Customer as a result of Shortfall during the Guarantee Term.

• If the Adjusted Energy Production Amount is less than the Minimum Production Threshold (any such shortfall, measured in kWh, a “Shortfall”), then Seller may cure such Shortfall by paying or crediting Customer liquidated damages in the amount of the Shortfall Payment.

• Except as otherwise expressly stated in Section 12 of the General Terms and Conditions, the Shortfall Payment shall be Customer’s sole and exclusive remedy for Seller’s failure to produce the Minimum Production Threshold during the Guarantee Term.

• Seller shall have thirty (30) days after receipt of SCE’s Notice to review SCE’s calculation and either pay the entire Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment amount claimed by SCE or pay any undisputed portion and provide Notice to SCE of the portion it disputes along with a detailed explanation of, and rationale for, Seller’s calculation methodology, annotated work papers and source data.

• If the Parties are unable to resolve a dispute regarding any Seller’s Annual Shortfall Payment and/or Seller’s Long Term Availability Shortfall Payment amount within thirty (30) days after the sending of a Notice of dispute by Seller, either Party may submit the dispute to arbitration as provided in Article Twelve.

More Definitions of Shortfall Payment

Shortfall Payment has the meaning set forth in Section 4(d).

Shortfall Payment means an amount determined by taking the product of (i) the Shortfall multiplied by

Shortfall Payment has the meaning set forth in Exhibit B.

Shortfall Payment shall have the meaning assigned to such term in Section 6.5(a).

Shortfall Payment shall have the meaning provided in Section 2.8(j).

Shortfall Payment as defined in Section 8.3.

Shortfall Payment means, without duplication, (i) any payments or allocations of the Issuer or Canadian Co-Issuer, as applicable, that are applied to fund a shortfall of the amount payable or allocable pursuant to the Priority of Payments for a Weekly Allocation Date due to a lack of Canadian Collections of the Canadian Co-Issuer or U.S. Collections of the Issuer, as applicable, (ii) any payments or allocations of the Issuer on account of U.S. Dollar-denominated expenses of the Canadian Co-Issuer that are applied to fund a shortfall pursuant to the Priority of Payments for a Currency Conversion Opt-Out Weekly Allocation Date due to a lack of U.S. Dollar-denominated Canadian Collections of the Canadian Co-Issuer, (iii) any payments from the funds of the Issuer or Canadian Co-Issuer, as applicable, that are made to fund a shortfall on account of the other Co-Issuer on a Quarterly Payment Date due to a lack of funds in any Indenture Trust Account of a Co-Issuer and (iv) any payments or allocations of the Issuer or Canadian Co-Issuer, as applicable, that are applied to fund a shortfall on account of the other Co-Issuer for any other purpose not set forth in clauses (i)-(iii). Shortfall Payments paid (except for Canadian Direct Payment Amounts paid to the Canadian Manager or a third party, in each case, pursuant to the Priority of Payments or pursuant to priority (v) or (xix) of the Priority of Payments) or allocated on a Currency Conversion Opt-Out Weekly Allocation Date may initially be denominated in a different currency than the currency of such payment or obligation.