Availability Failure Sample Clauses

Availability Failure. If, within twenty-four (24) hours of an Availability Failure which continues for eight (8) consecutive Settlement Periods, KPLC calls for a Contracted Early Generation Capacity Test or Contracted Plant Capacity Test for the Plant which suffered the Availability Failure (as the case may be) pursuant to Clause 9.10 and such test demonstrates that the capacity available is less than the Contracted Early Generation Capacity or Contracted Plant Capacity of such Plant (as the case may be) then for the period beginning from the Settlement Period within which such Availability Failure occurred and ending when the Available capacity has been agreed or determined pursuant to the Contracted Early Generation Test or Contracted Plant Capacity Test for such Plant (as the case may be), the Contracted Early Generation Capacity or Contracted Plant Capacity of such Plant for such period shall be equal to the average Availability of the Early Generation Facility or of such Plant (as the case may be) achieved in response to Despatch Instructions for the Settlement Periods in which such Availability Failure occurred or the capacity demonstrated to be Available by such test, if greater.
Sample 1
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Availability Failure. If within forty eight (48) hours of an Availability Failure, Purchaser calls for a Contracted Capacity Test pursuant to Clause 6.10 and such Contracted Capacity Test (which shall be carried out immediately after Purchaser calls for such test) demonstrates that the Capacity Available is less than the Contracted Capacity demonstrated by the preceding Contracted Capacity Test then for the period beginning from the Settlement Period within which such Availability Failure occurred and ending when the Available Capacity has been agreed or determined pursuant to the Contracted Capacity Test, the Contracted Capacity for such period shall be equal to the average Availability of the Plant achieved in response to Despatch Instructions for the Settlement Period immediately after the one in which such Availability Failure occurred.
Sample 1
Availability Failure. If within forty eight (48) hours of an Availability Failure, Purchaser calls for a Contracted Capacity Test pursuant to Clause 6.10 and such Contracted Capacity Test (which shall be carried out immediately after Purchaser calls for such test) demonstrates that the Capacity Available is less than the Contracted Capacity demonstrated by the preceding Contracted Capacity Test then for the period beginning from the Settlement Period within which such Availability Failure occurred and ending when the Available Capacity has been agreed or determined pursuant to the Contracted Capacity Test, the Contracted Capacity for such period shall be equal to the average Availability of the Plant achieved in response to Dispatch Instructions for the Settlement Period immediately after the one in which such Availability Failure occurred. Seller shall also pay to Purchaser liquidated damages calculated in accordance with the relevant formula , provided however that the total amount of Liquidated Damages shall not exceed an amount equivalent to USD [ ]in any one calendar year.
Sample 1

Related to Availability Failure

  • Undrawn Availability After giving effect to the initial Advances hereunder, Borrowers shall have Undrawn Availability of at least $10,000,000;

  • Mandatory Prepayments due to Borrowing Base Deficiency In the event that at any time any Borrowing Base Deficiency shall exist, the Borrower shall, within five Business Days after delivery of the applicable Borrowing Base Certificate, prepay the Loans (or provide Cash Collateral for Letters of Credit as contemplated by Section 2.05(k)) or reduce Other Covered Indebtedness in such amounts as shall be necessary so that such Borrowing Base Deficiency is cured; provided that, if the Borrower (x) chooses, by written notice to the Administrative Agent within such five (5) Business Day period, to make such repayment by means of a Capital Call (which notice shall include a certification by a Financial Officer that the uncalled capital commitments of the Borrower at such time, excluding uncalled capital commitments of Defaulted Investors, exceed the amount of such Borrowing Base Deficiency), the Borrower shall have thirty (30) Business Days to cure the Borrowing Base Deficiency (which 30-Business Day period shall include the five (5) Business Days permitted for delivery of such written notice to the Administrative Agent) and (y) makes the Capital Call to its Investors (as defined in the Guarantee and Security Agreement) within ten (10) Business Days of the date of notice to the Administrative Agent (and provides the Administrative Agent with written evidence of the Capital Call notice within two (2) Business Days of such notice being sent); and provided further that (i) the aggregate amount of such prepayment of Loans (and Cash Collateral for Letters of Credit) shall be at least equal to the Revolving Percentage times the aggregate prepayment of the Covered Debt Amount, and (ii) if, within five Business Days after delivery of a Borrowing Base Certificate demonstrating such Borrowing Base Deficiency, the Borrower shall present the Lenders with a reasonably feasible plan (other than the use of a Capital Call as described above) acceptable to the Required Lenders in their sole discretion to enable such Borrowing Base Deficiency to be cured within 30 Business Days (which 30-Business Day period shall include the five (5) Business Days permitted for delivery of such plan), then such prepayment or reduction shall not be required to be effected immediately but may be effected in accordance with such plan (with such modifications as the Borrower may reasonably determine), so long as such Borrowing Base Deficiency is cured within such 30-Business Day period.

  • Excess Availability Borrowers shall have Excess Availability at all times of at least (i) as of any date of determination during the period from June 24, 2016 through and including July 7, 2016, $10,000,000, (ii) as of any date of determination during the period from July 8, 2016 through and including September 29, 2016, $17,500,000, and (iii) as of any date of during the period from September 30, 2016 through and including December 31, 2016, $20,000,000.

  • Availability Period The line of credit is available between the date of this Agreement and December 8,2012, or such earlier date as the availability may terminate as provided in this Agreement (the “Facility No. 1 Expiration Date”).

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • Minimum Excess Availability Borrower shall have Excess Availability under the Revolving Credit Loans facility of not less than the amount specified in the Schedule, after giving effect to the initial advance hereunder and after giving effect to any applicable Loan Reserves against borrowing availability under the Revolving Credit Loans.

  • Product Availability Under no circumstances shall Company be responsible to Representative or anyone else for its failure to fill accepted orders, or for its delay in filling accepted orders, when such failure or delay is due to strike, accident, labor trouble, acts of nature, freight embargo, war, civil disturbance, vendor problems or any cause beyond Company's reasonable control.

  • Borrowing Base Deficiency If at any time there exists a Borrowing Base Deficiency the Borrower shall cure same in accordance with Section 2.06 hereof.

  • Availability Reserves All Revolving Loans otherwise available to Borrower pursuant to the lending formulas and subject to the Maximum Credit and other applicable limits hereunder shall be subject to Lender's continuing right to establish and revise Availability Reserves.

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