Adjustments to Project Incentive Sample Clauses

Adjustments to Project Incentive. (a) In the event a Change Notice is delivered to and accepted by the LDC pursuant to Section 6.3(b) prior to the In-Service Date, the LDC and the Technical Reviewer will re-calculate, based on the best information available at the time, including any revised calculations arising from the information in the Change Notice, the Project Incentive pursuant to Section 4.3(b). (b) At the date of the fourth submission of the Request for Payment pursuant to Section 7.1(a)(iv) or the submission of the Final Status Report pursuant to Section 5.3(b)(i)B, as the case may be, the LDC and the Technical Reviewer will re-calculate, based on the best information available at the time, the Project Incentive pursuant to Section 4.4(c). (c) The Project Incentive for the Project shall be an amount equal to the lowest of the following: (i) 70% of the Actual Eligible Costs of the Project in the case of a WER Project or, in the case of a CCHP Project, 40% of such Actual Eligible Costs, incurred and paid by the Participant as of such date; provided, however, that this amount may not exceed 70% of the Estimated Eligible Costs of the Project in the case of a WER Project or, in the case of a CCHP Project, 40% of such Estimated Eligible Costs; (ii) the product of the estimated Annualized Electricity Savings of the Project multiplied by $200/MWh; and (iii) the amount that would provide a Project Payback of one year for the Project. (d) If the re-calculated Project Incentive pursuant to Section 4.4(a) or 4.4(b) is greater than the Project Incentive determined pursuant to Section 4.3, no adjustments will be made to the Project Incentive and the Project Incentive for all purposes of this Agreement will be deemed to be the amount determined pursuant to Section 4.3. (e) If, however, the re-calculated Project Incentive pursuant to Section 4.4(a) or 4.4(b) is less than the Project Incentive determined pursuant to Section 4.3, then the LDC will notify the Participant in accordance with Section 4.4(f). In the case of the Advanced Incentive Payment Option where any portion of the Net Participant Incentive has been paid to the Participant, the Participant will re-pay to the LDC within 10 Business Days of such notice, or, to the extent further amounts are payable to the Participant hereunder the LDC may set-off against future payments due and payable to the Participant, an amount (for greater certainty, plus Applicable Taxes) equal to the difference between the amount calculated in accordance with ...
Sample 1
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Adjustments to Project Incentive. (a) If, based on the Invoice Reconciliation Form, the Technical Reviewer determines that the Actual Eligible Costs for the Project are less than the Estimated Eligible Costs, the Project Incentive will be adjusted by the IESO based on the Actual Eligible Costs for the Project and the Net Project Incentive will be adjusted accordingly, pursuant to Section 1.2 of this Schedule “C”. For greater clarity, if the Actual Eligible Costs for the Project are greater than the Estimated Eligible Costs, the Project Incentive will not be adjusted. (b) If, based on the M&V Plan and any M&V Report, the Technical Reviewer determines that the actual Annualized Electricity Savings for the Project are less than 90% of the Anticipated Electricity Savings, the Project Incentive will be adjusted by the IESO based on the actual Annualized Electricity Savings for the Project, and the Net Project Incentive will be adjusted accordingly, pursuant to Section 1.2 of this Schedule “C”. (c) If the Project Incentive is adjusted in accordance with Section 1.1(a) and/or (b) herein, the amount that would provide a Project Payback of one year for the Project will be recalculated by the Technical Reviewer or the IESO. (d) If the adjusted Project Incentive is less than the Project Incentive set out in Schedule “B”, then the IESO will promptly notify the Participant of the amount of the adjusted Project Incentive and such adjusted Project Incentive will be binding upon the Parties. For greater certainty, if the adjusted Net Project Incentive is less than the Initial NPI Payment, the Participant will repay to the IESO within 10 Business Days of such notice, an amount (for greater certainty, plus Applicable Taxes) equal to the difference between Initial NPI Payment and the adjusted Net Project Incentive.
Sample 1

Related to Adjustments to Project Incentive

  • Operating Plan To Agent and Lenders, as soon as available, but not later than thirty (30) days after the end of each Fiscal Year, an annual combined operating plan (the "Operating Plan") for Parent and its Subsidiaries, approved by the Board of Directors of Parent, for the following Fiscal Year, which (i) includes a statement of all of the material assumptions on which such plan is based, (ii) includes projected monthly income statement, balance sheets and source and use of funds for the following year and (iii) Borrowing Availability projections, all prepared on the same basis and in similar detail as that on which operating results are reported (and in the case of cash flow projections, representing management's good faith estimates of future financial performance based on historical performance), and including plans for personnel, Capital Expenditures and facilities.

  • Project Goals The schedule, budget, physical, technical and other objectives for the Project shall be defined.

  • Adjustments to Prevent Dilution In the event that the Company changes the number of Shares or securities convertible or exchangeable into or exercisable for Shares issued and outstanding prior to the Effective Time as a result of a reclassification, stock split (including a reverse stock split), stock dividend or distribution, recapitalization, merger, issuer tender or exchange offer, or other similar transaction, the Per Share Merger Consideration shall be equitably adjusted.

  • Project Schedule Construction must begin within 30 days of the date set forth in Appendix A, Page 2, for the start of construction, or this Agreement may become null and void, at the sole discretion of the Director. However, the Recipient may apply to the Director in writing for an extension of the date to initiate construction. The Recipient shall specify the reasons for the delay in the start of construction and provide the Director with a new start of construction date. The Director will review such requests for extensions and may extend the start date, providing that the Project can be completed within a reasonable time frame.

  • Improvements to Premises Lessee shall take the Premises in its "as-is" condition for the Extended Term except for certain Leasehold Improvements (herein so called) to the Premises which shall be completed in accordance with the specifications attached hereto as Exhibit A (the "Approved Plans"), which have been approved by both Lessor and Lessee. Lessor shall cause the Leasehold Improvements to be installed or constructed in accordance with the Approved Plans by Lessor's contractor. So long as no Event of Default (or event which with notice or lapse of time could become an Event of Default) has occurred under the Lease, Lessor agrees to provide Lessee an allowance equal to One Hundred Fifty-Three Thousand One Hundred Nineteen and No/100 Dollars ($153,119.00) (the "Improvement Allowance"), which allowance is to be used solely for completion of the Leasehold Improvements in accordance with the Approved Plans, and an additional allowance equal to Three Thousand Two Hundred and No/100 Dollars ($3,200.00) (the "Architectural Allowance"), which allowance is to be used solely for space planning and design services for the Premises. In the event that any alterations or modifications to the Premises are required in order to comply with applicable law, including, without limitation, the Americans with Disabilities Act of 1990, as amended, or the State of Texas equivalent laws and regulations, the cost of any such alterations or modifications shall be satisfied out of the Improvement Allowance. The cost of the Leasehold Improvements and the space planning and design fees is to be paid by Lessor out of the Improvement Allowance and the Architectural Allowance, respectively. Any completed work (labor or materials) outside the scope of the Approved Plans or the cost of which is in excess of the Improvement Allowance or the Architectural Allowance, as the case may be, shall be at Lessee's sole cost and will be billed to Lessee by Lessor and will be due and payable within ten (10) days after Lessee's receipt of an invoice therefor. Notwithstanding the foregoing, Lessee will not be liable for work outside the scope of the Approved Plans or excess costs over the amount of the Improvement Allowance or the Architectural Allowance unless Lessee has consented in writing to such work outside the scope of the Approved Plans or excess costs prior to the commencement of such work or the incurring of such excess costs. Any portion of the Improvement Allowance or the Architectural Allowance remaining upon the completion of the Leasehold Improvements shall be deemed forfeited by Lessee. Lessor further acknowledges and agrees that Section 4.07 of the Lease is hereby amended to provide that Lessee shall not be required to surrender possession of the Premises to Lessor "in the same condition as when received", but rather shall be entitled to surrender possession of the Premises in the same condition as exists upon the completion of the Leasehold Improvements described in Paragraph 3 above, subject to any and all other requirements set forth in Section 4.07 of the Lease.

  • Annual Work Plans and Budgets The Recipient shall furnish to the Association as soon as available, but in any case not later than September 1 of each year, the annual work plan and budget for the Project for each subsequent year of Project implementation, of such scope and detail as the Association shall have reasonably requested, except for the annual work plan and budget for the Project for the first year of Project implementation, which shall be furnished no later than one (1) month after the Effective Date.

  • Performance Schedule The Parties will perform their respective responsibilities in accordance with the Performance Schedule. By executing this Agreement, Customer authorizes Motorola to proceed with contract performance.

  • Performance Improvement Plan timely and accurate completion of key actions due within the reporting period 100 percent The Supplier will design and develop an improvement plan and agree milestones and deliverables with the Authority 3.2 The Authority may from time to time make changes to the KPIs measured as set out in paragraph 3.1 above and shall issue a replacement version to the Supplier. The Authority shall give notice In Writing of any such change to the KPIs measured and shall specify the date from which the replacement KPIs must be used for future reports. Such date shall be at least thirty (30) calendar days following the date of the notice to the Supplier.

  • Development Schedule The Project shall substantially comply with the specific timetables and triggers for action set forth in Article 5 of this Agreement. The parties acknowledge that, as provided in G.S. 160A-400.25(b), the failure to meet a commencement or completion date shall not, in and of itself, constitute a material breach of this Agreement pursuant to G.S. 160A-400.27 but must be judged based upon the totality of the circumstances.

  • Adjustments to Option The Option shall be subject to the adjustment provisions of Sections 8 and 9 of the Plan, provided, however, that in the event of the payment of an extraordinary dividend by the Company to its shareholders: the Exercise Price of the Option shall be reduced by the amount of the dividend paid, but only to the extent the Committee determines it to be permitted under applicable tax laws and to not have adverse tax consequences to the Optionee under Section 409A of the Code; and, if such reduction cannot be fully effected due to such tax laws and it will not have adverse tax consequences to the Optionee, then the Company shall pay to the Optionee a cash payment, on a per Share basis, equal to the balance of the amount of the dividend not permitted to be applied to reduce the Exercise Price of the applicable Option as follows: (a) for each Share subject to a vested Option, immediately upon the date of such dividend payment; and (b) for each Share subject to an unvested Option, on the date on which such Option becomes vested and exercisable with respect to such Share.

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