Availability Adjustment Sample Clauses
An Availability Adjustment clause defines how payments or obligations are modified based on the actual availability of a service, asset, or resource. In practice, this clause typically sets out a formula or method for adjusting fees if the contracted service (such as equipment uptime or facility access) falls below agreed performance levels. By establishing clear rules for financial adjustments tied to availability, the clause incentivizes consistent performance and protects parties from losses due to unexpected downtime or service interruptions.
Availability Adjustment. The applicable “
Availability Adjustment. Each month during the Delivery Term, Seller shall ensure that the Storage Facility has an Monthly Actual Availability of no less than ninety-eight percent (98%) (the “Guaranteed Monthly Availability”). If the Storage Facility has Monthly Actual Availability less than the Guaranteed Monthly Availability during any month, then the Contract Price that would be owed to Seller for such month shall be adjusted as follows, after any adjustments have been made to the Contract Price due to the Guaranteed Round-Trip Efficiency Adjustment pursuant to Section 7.7(e) (the “Guaranteed Monthly Availability Adjustment”):
(i) If the Monthly Actual Availability is less than the Guaranteed Storage Availability, but greater than or equal to 70%, then the Contract Price for such month will equal the product of
(i) the Contract Price multiplied by (ii) 100% - [(98% - Monthly Actual Availability) × 2]; and
(ii) If the Monthly Actual Availability is less than 70%, then the Contract Price for such month will equal the product of (i) the Contract Price multiplied by (ii) 0.0%.
Availability Adjustment. (i) During each month of the Delivery Term in which the Availability of the Units is less than the applicable Guaranteed Availability, the Availability Adjustment (“AA”), measured as a percentage, shall be determined as follows: For Summer Months: If Availability is greater than or equal to 98% but less than 99%, then AA=100%; if Availability is less than 98%, but not less than 70%, then AA = 100% - [(98% - Availability) x 2]; and if Availability is less than 70% then AA=0 For Non-Summer Months: If Availability is greater than or equal to 96%, then AA=100%; if Availability is less than 96%, but not less than 60%, then AA = 100% - [(96% - Availability) x 2]; and If Availability is less than 60%, then AA=0
Availability Adjustment. If the Monthly Storage Capacity Availability during any month of the Delivery Period is less than the Guaranteed Storage Availability, the Monthly Storage Capacity Payment shall be multiplied by an Availability Adjustment (“Availability Adjustment” or “AA”) calculated as follows: If the Monthly Storage Capacity Availability is greater than or equal to the Guaranteed Storage Availability, then: AA = 100% If the Monthly Storage Capacity Availability is less than the Guaranteed Storage Availability, but greater than or equal to 70%, then: AA = The lesser of the Monthly Storage Capacity Availability or 100% - [(Guaranteed Storage Availability - Monthly Storage Capacity Availability) × 2] If the Monthly Storage Capacity Availability is less than 70%, then: AA = 0 Guaranteed Efficiency Rate: [__] percent ([__]%) for all Contract Years Minimum Efficiency Rate: Seventy percent (70%) for all Contract Years Storage Maximum Annual Throughput [XX] MWh per Contract Year.
Availability Adjustment. The Availability Adjustment (“AA”), which is calculated as follows: (i) If the monthly storage availability is greater than or equal to the Guaranteed Storage Availability, then: AA = 100% (ii) If the monthly storage availability is less than the Guaranteed Storage Availability, but greater than or equal to 70%, then: AA = 100% - [(98% - monthly storage availability) × 2] (iii) If the monthly storage availability is less than 70%, then: AA = 0
Availability Adjustment. “Availability Adjustment” shall have the meaning set forth in Section 7(a).
Availability Adjustment. If the Monthly Storage Capacity Availability during any month of the Delivery Period is less than the Guaranteed Storage Availability, the Monthly Storage Capacity Payment shall be multiplied by an Availability Adjustment (“Availability Adjustment” or “AA”) calculated as follows: (i) If the Monthly Storage Capacity Availability is greater than or equal to the Guaranteed Storage Availability, then: AA = 100% (ii) If the Monthly Storage Capacity Availability is less than the Guaranteed Storage Availability, but greater than or equal to 70%, then: AA = The lesser of the Monthly Storage Capacity Availability or 100% - [(Guaranteed Storage Availability - Monthly Storage Capacity Availability) × 2] (iii) If the Monthly Storage Capacity Availability is less than 70%, then: AA = 0 Guaranteed Efficiency Rate: [ ] percent ([ ]%) for all Contract Years Minimum Efficiency Rate: Seventy percent (70%) for all Contract Years Efficiency Rate Liquidated Damages If during any month during the Delivery Term, the Efficiency Rate is less than the Guaranteed Efficiency Rate, Seller shall pay liquidated damages to Buyer calculated as the total Charging Energy for the month multiplied by the percentage by which the Efficiency Rate is less than the Guaranteed Efficiency Rate multiplied by Buyer’s average cost of procuring Charging Energy. Storage Maximum Annual Throughput [XX] MWh per Contract Year.
Availability Adjustment. Each Contract Month, the Capacity Charge will be adjusted to reflect the actual Availability delivered from the Portfolio. The Availability of the Portfolio shall be computed as follows: M Availability = [Sigma] Monthly Unit Capability units = 1 Original Sheet No. 61 Period Hours [Sigma] Hourly Contact Capacity hour = 1 Period Hours Fraction of
Availability Adjustment. The Availability Adjustment (“AA”) will be applied in calculating the Monthly Fixed Payment in accordance with Section 3.1(a). Section 3.3(b) contains the formula to calculate Availability. For each month of the Delivery Term, the Availability Adjustment is: For Summer Months: If Availability is greater than or equal to 98%, then AA=100%; If Availability is less than 98%, but not less than 70%, then AA = 100% - [(98% - Availability) × 2]; and If Availability is less than 70% then AA=0 For Non-Summer Months: If Availability is greater than or equal to 96%, then AA=100%; If Availability is less than 96%, but not less than 60%, then AA = 100% - [(96% - Availability) × 2]; and If Availability is less than 60%, then AA=0 (b) Calculation of Availability.
(i) Seller shall calculate the availability of the Project in a given month using the formula set forth below (“Availability”): Availabilitym = [MNTHHRSm-MAINTHRSm-UNAVAILHRSm -UNAVAILPRODHRSm ] [MNTHHRSm-MAINTHRSm] where: m = relevant month “m” in which Availability is calculated. MNTHHRSm is the total number of hours for the month. MAINTHRSm is the total number of hours that the Project was unavailable to deliver Adjusted Duration Energy or unable to accept Charging Energy due to Excused Scheduled Maintenance Outages or Force Majeure declared by Seller during the month, provided that the number of MAINTHRS in a month due to Excused Scheduled Maintenance Outages may not exceed the maximum number of hours per year permitted for Excused Scheduled Maintenance Outages pursuant to Section 9.2(e)(ii) and the number of MAINTHRS in a month due to Force Majeure declared by Seller may not exceed the number of Excused Hours available to the Seller at the end of the applicable month. An Excused Scheduled Maintenance Outage or Force Majeure (declared by Seller) that results in partial Outage of the Project or occurs for less than a full hour will count as an equivalent percentage of the applicable hour(s) for this calculation. For example, if the Seller Notifies Buyer of a change in the Project’s Dmax that results in a reduction in Adjusted Duration Energy by ten percent (10%) for twenty