Additional Rate Provisions Sample Clauses

Additional Rate Provisions. (1) If during the Operations Period, Seller has in good faith determined that it has reached a leveraged after tax internal rate of return of Twelve Percent (12%) for the transactions contemplated hereunder, specifically including but not limited to all of Seller’s fees, costs, and expenses related to the Existing Turbine, the New Turbine, and the Payment Obligation (as such term is defined in the Project Agreement) (the “Seller IRR Benchmark”), a benchmark rate will be established that will be based on the market rate at that time (the “Benchmark Rate”). Then for the remainder of the Operations Period thereafter on each occasion that the Retail Rate (and thereby the PPA Rate) increases, any such increase above the Benchmark Rate will be shared on an 70/30 basis between Seller and the Town such that: (a) prior to the Payment Obligation being satisfied, Seller will make a prepayment against the Payment Obligation in an amount equal to Thirty Percent (30%) of the amount that Buyer would otherwise have paid based on such increase (by way of example, if subsequent to Seller reaching the Seller IRR Benchmark the Retail Rate increases by Ten Percent (10%) above the Benchmark Rate, and such increase results in Buyer making Ten Thousand Dollars ($10,000) in payments more than it would have made without the increase for the period between the date of such rate change and the date that the next annual installment payment is due for the Payment Obligation, on the next date that an annual installment payment is due with respect to the Payment Obligation Seller will make a prepayment in the amount of Three Thousand Dollars ($3,000) against the Payment Obligation; and (b) after the Payment Obligation being satisfied, Buyer will receive a Thirty Percent (30%) discount against the amount that it would otherwise pay under this Agreement based on such increase above the Benchmark Rate. For example, if after the Seller IRR Benchmark is reached the Benchmark Rate is $0.20 kWh and the Retail Rate increases from $0.20 to $0.22 kWh, the new effective rate charged to Buyer will be $0.214 kWh (which represents 70% of the increase from $0.20 to $0.22). By way of further example, if thereafter the Retail Rate increases from $0.22 to $0.24 kWh, the new effective rate charged to Buyer will be $0.228 kWh (which represents 70% of the increase from $0.22 to $0.24).
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Related to Additional Rate Provisions

  • Applicable Provisions Nothing in this Article is to be interpreted as a waiver of other provisions or procedures contained elsewhere in this agreement.

  • Extension of Agreement Prior to the original expiration date of this Agreement, the Parties mutually agree to extend this Agreement to the February 15 extension date identified in Paragraph VIII(A). The Parties acknowledge that no further extensions of this Agreement are authorized. Xxxxxxxxx has hereunto signed on this Day of , 20 . Landowner(s): The Secretary of the Department of Agriculture, acting and through his or her authorized representative has executed this Contract on behalf of the United States of America on this Day of , 20 . THE UNITED STATES OF AMERICA BY: NONDISCRIMINATION STATEMENT The U.S. Department of Agriculture (USDA) prohibits discrimination in all its programs and activities on the basis of race, color, national origin, age, disability, and where applicable, sex, marital status, familial status, parental status, religion, sexual orientation, genetic information, political beliefs, reprisal, or because all or a part of an individual’s income is derived from any public assistance program. (Not all prohibited bases apply to all programs.) Persons with disabilities who require alternative means for communication of program information (Braille, large print, audiotape, etc.) should contact USDA’s TARGET Center at 0 (000) 000-0000 (voice and TDD). To file a complaint of discrimination, write to USDA, Director, Office of Civil Rights, 0000 Xxxxxxxxxxxx Xxxxxx, XX., Xxxxxxxxxx, XX 00000-0000 or call (000) 000-0000 (voice) or (000) 000-0000 (TDD). USDA is an equal opportunity provider and employer. PRIVACY ACT STATEMENT

  • Additional Fee on Late Payments For any payments thirty (30) calendar days or more overdue under this Agreement, Registry Operator shall pay an additional fee on late payments at the rate of 1.5% per month or, if less, the maximum rate permitted by applicable law.

  • Top-up Provisions Employees accessing short-term disability leave as set out in paragraph c) will have access to any unused sick leave days from their last fiscal year worked for the purpose of topping up wages to one hundred percent (100%) under the short-term disability leave. This top-up is calculated as follows: Eleven (11) days less the number of sick leave days used in the most recent fiscal year worked. Each top-up to 100% from 90 to 100% requires the corresponding fraction of a day available for top-up. In addition to the top-up bank, top-up for compassionate reasons may be considered at the discretion of the board on a case by case basis. The top-up will not exceed two (2) days and is dependent on having two (2) unused Short-Term Paid Leave Days/Miscellaneous Personal Leave Days in the current year. These days can be used to top-up salary under the short-term disability leave. When employees use any part of a short-term disability leave day they may access their top up bank to top up their salary to 100%.

  • Extension Terms County may, at its sole option, extend the term of this Agreement beyond the Initial Term for up to ___ additional one-year terms at the same rates and under the same terms provided for herein (each such period being an “Extension Term”). County shall notify Contractor of its election for an Extension Term(s) as provided for in §6.

  • C4 Price adjustment on extension of the Initial Contract Period C4.1 The Contract Price shall apply for the Initial Contract Period. In the event that the Client agrees to extend the Initial Contract Period pursuant to clause F8 (Extension of Initial Contract Period) the Client shall, in the 6 month period prior to the expiry of the Initial Contract Period, enter into good faith negotiations with the Contractor (for a period of not more than 30 Working Days) to agree a variation in the Contract Price.

  • Administrative Provisions (a) Grievances and replies at Step 3 of the grievance procedure and notification to arbitrate shall be by registered mail.

  • Exceptions and Extension of Payment Due Date NYSERDA has determined that, notwithstanding the provisions of Sections 504.3 and 504.4 of this Exhibit, any of the following facts or circumstances, which may occur concurrently or consecutively, reasonably justify extension of the Payment Due Date:

  • Termination Provisions In this Agreement:

  • Extension; Waiver At any time prior to the Effective Time any party hereto may, to the extent legally allowed, (i) extend the time for the performance of any of the obligations or other acts of the other parties hereto, (ii) waive any inaccuracies in the representations and warranties made to such party contained herein or in any document delivered pursuant hereto and (iii) waive compliance with any of the agreements or conditions for the benefit of such party contained herein. Any agreement on the part of a party hereto to any such extension or waiver shall be valid only if set forth in an instrument in writing signed on behalf of such party.

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