Application of Moneys Received from Default Invoices. Moneys received by or on behalf of SCPPA from the payment of Default Invoices shall be credited on each non- Defaulting SCPPA Participant’s next monthly Billing Statement or Billing Statements in an amount equal to the aggregate amount such non-Defaulting SCPPA Participant paid as a result of Step-Up Invoices with respect to such Default Invoice, plus a pro- rata share, based upon the Participant Facility Products Cost Shares of the non- Defaulting SCPPA Participants, of the amount SCPPA received regarding late payment interest charges. In the event a Defaulting SCPPA Participant pays less than the full amount of its Default Invoice, the credit to each non-Defaulting SCPPA Participant shall be adjusted in proportion to such non-Defaulting SCPPA Participant’s Facility Products Cost Shares.
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Application of Moneys Received from Default Invoices. Moneys received by or on behalf of SCPPA from the payment of Default Invoices shall be credited on each non- Defaulting SCPPA Participant’s next monthly Billing Statement or Billing Statements in an amount equal to the aggregate amount such non-Defaulting SCPPA Participant paid as a result of Step-Up Invoices with respect to such Default Invoice, plus a pro- pro-rata share, based upon the then-current Participant Facility Products Output Cost Shares of the non- Defaulting SCPPA Participants, of the amount SCPPA received regarding late payment interest charges. In the event a Defaulting SCPPA Participant pays less than the full amount of its Default Invoice, the credit to each non-Defaulting SCPPA Participant shall be adjusted in proportion to such nontheir then-Defaulting SCPPA Participant’s current Participant Facility Products Output Cost Shares.
Appears in 1 contract
Samples: Power Sales Agreement
Application of Moneys Received from Default Invoices. Moneys received by or on behalf of SCPPA from the payment of Default Invoices shall be credited on each non- non-Defaulting SCPPA Participant’s next monthly Billing Statement or Billing Statements in an amount equal to the aggregate amount such non-Defaulting SCPPA Participant paid as a result of Step-Up Invoices with respect to such Default Invoice, plus a pro- pro-rata share, based upon the SCPPA Participant Facility Products Output Cost Shares of the non- non-Defaulting SCPPA Participants, of the amount SCPPA received regarding late payment interest charges. In the event of a Defaulting SCPPA Participant pays less than the full amount of its Default Invoice, the credit to each non-Defaulting SCPPA Participant shall be adjusted in proportion to such non-Defaulting SCPPA Participant’s Facility Products Cost Sharesproportionately.
Appears in 1 contract
Samples: Power Purchase Agreement
Application of Moneys Received from Default Invoices. Moneys received by or on behalf of SCPPA from the payment of Default Invoices shall be credited on each non- Defaulting SCPPA Participant’s next monthly Billing Statement or Billing Statements in an amount equal to the aggregate amount such non-Defaulting SCPPA Participant paid as a result of Step-Up Invoices with respect to such Default Invoice, plus a pro- pro-rata share, based upon the Participant Facility Products Output Cost Shares of the non- non-Defaulting SCPPA Participants, of the amount SCPPA received regarding late payment interest charges. In the event of a Defaulting SCPPA Participant pays less than the full amount of its Default Invoice, the credit to each non-Defaulting SCPPA Participant shall be adjusted in proportion to such non-Defaulting SCPPA Participant’s Facility Products Cost Sharesproportionately.
Appears in 1 contract
Samples: Power Purchase Agreement
Application of Moneys Received from Default Invoices. Moneys received by or on behalf of SCPPA from the payment of Default Invoices shall be credited on each non- non-Defaulting SCPPA Participant’s next monthly Billing Statement or Billing Statements in an amount equal to the aggregate amount such non-Defaulting SCPPA Participant paid as a result of Step-Up Invoices with respect to such Default Invoice, plus a pro- pro-rata share, based upon the Participant Facility Products Output Cost Shares of the non- non-Defaulting SCPPA Participants, of the amount SCPPA received regarding late payment interest charges. In the event of a Defaulting SCPPA Participant pays less than the full amount of its Default Invoice, the credit to each non-Defaulting SCPPA Participant shall be adjusted in proportion to such non-Defaulting SCPPA Participant’s Facility Products Cost Sharesproportionately.
Appears in 1 contract
Samples: Power Purchase Agreement