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Common use of Annual Guaranteed Energy Quantity Clause in Contracts

Annual Guaranteed Energy Quantity. If, in any Contract Year, Seller does not deliver Delivered Energy to Buyer at the Energy Financial Delivery Point (taking into account, in each applicable MISO Settlement Interval of such Contract Year, only amounts up to the Maximum Adjustment for such applicable MISO Settlement Interval) in an amount equal to or above the Annual Guaranteed Energy Quantity, then, for each MWh of shortfall: (a) Seller shall pay to Buyer liquidated damages in the amount equal to the product of (i) the positive difference, if any, between (A) the product of (x) 1.80 and (y) the average of the LMPs (expressed in $/MWh) in the MISO Day-Ahead Energy Market applicable for Energy delivered at the Energy Financial Delivery Point for the MISO Settlement Intervals occurring during the hours ending 1000 through 1900 BA Time over the course of such Contract Year minus

Appears in 16 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement

Annual Guaranteed Energy Quantity. If, in any Contract Year, Seller does not deliver Delivered Energy to Buyer at the Energy Financial Delivery Point (taking into account, in each applicable MISO Settlement Interval of such Contract Year, only amounts up to the Maximum Adjustment for such applicable MISO Settlement Interval) in an amount equal to or above the Annual Guaranteed Energy Quantity, then, for each MWh of shortfall: (a) Seller shall pay to Buyer liquidated damages in the amount equal to the product of (i) the positive difference, if any, between (A) the product of (x) 1.80 1.82 and (y) the average of the LMPs (expressed in $/MWh) in the MISO Day-Ahead Energy Market applicable for Energy delivered at the Energy Financial Delivery Point for the MISO Settlement Intervals occurring during the hours ending 1000 through 1900 BA Time over the course of such Contract Year minus

Appears in 3 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement