Availability Guaranty Clause Samples
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Availability Guaranty. Seller guarantees that, as calculated by the thirtieth (30th) Day of each Invoice Month following the Commercial Operation Date, the Facility shall have achieved (a) a Mechanical Availability Percentage of 96% for operations during the months of June, July, August, September, October, December, January and February; and (ii) a Mechanical Availability Percentage of 94% for operations during the months of November, March, April and May. For purposes of this Agreement, except as provided in the Dispatch Agreement, Mechanical Availability Percentage shall be calculated using the following equation: N ÷ N' WHERE: N = the number of MW-hrs the Facility delivered Energy to Department during the immediately preceding month N' = the number of MW-hrs Department requested Seller to deliver Energy to Department from the Facility during the immediately preceding month pursuant to Section 2.04, provided, however, that such number shall not exceed the Contract Capacity for any Period in the immediately preceding month
Availability Guaranty. The Capacity Payment paid or payable in each month shall be subject to adjustment (by the Seller paying a rebate or earning a bonus, as the case may be) so as to equal the Adjusted Capacity Payment (“ACP”). Where: If EA > 0.97 for the Summer Season or > 0.94 for the Winter Season ACP = [1+ (EA-Bonus Target EA)/ Bonus Target EA)] x [capacity payment paid or payable]. If EA≤ 0.97 for the Summer Season or ≤ 0.94 for the Winter Season ACP = [lesser of: 1.0 and 1- (2*(Target ▇▇-▇▇)/Target EA)] x [capacity payment paid or payable]. EA = (Summation of Hourly Availability Factors for Monthly Availability Hours) / (# of Monthly Availability Hours in month) Hourly Availability Factor is determined for each Monthly Availability Hour as the quotient of (a) the capacity reflected in Seller’s Availability Notice applicable for such hour, divided by (b) the Hourly Ambient Capacity for such hour. Bonus Target EA = 0.97 for the Summer Season or 0.94 for the Winter Season. Target EA = 0.95 for the Summer Season or 0.92 for the Winter Season. The Summer Season is the months May through October. The Winter Season is the months November through April.
Availability Guaranty. (A) On or before the date that is sixty (60) Days after the Commercial Operation Date, Seller shall provide Buyers with the Production Model. The Production Model shall be used for purposes of calculating Expected Amounts and any amount of Deemed Delivered Energy. Periodically throughout the Term but no more often than twice in each Year during the Term, if a Party believes that the Production Model does not contain the proper variables or inputs or yields incorrect results when it is used to calculate an Expected Amount or any amount of Deemed Delivered Energy, such Party may propose an adjustment or correction to the Production Model, and if the Parties are not able to resolve such issues within sixty (60) Days of the initial notice of the suspected inaccuracy, then the Parties shall submit such dispute to an independent engineering company with experience with solar production models to resolve such issue and selected by Seller in its reasonable discretion.
(B) Seller guarantees that the actual Availability of the Facility shall be at least percent ( %) (the “Guaranteed Availability”) measured over each Availability Day. From time to time, Buyers may, if Buyers’ data indicates that one or more consecutive Availability Days constitute Availability Unsatisfactory Days, request that Seller provide, and Seller shall provide, a report of the Expected Amount (calculated using the Production Model) for such Availability Day or Availability Days. If Seller did not achieve the Guaranteed Availability for one or more such Availability Days, Buyers may provide Seller with written notice that the Facility did not achieve the Guaranteed Availability for such Availability Day or Availability Days (an “Availability Underperformance Notice”). If an Availability Underperformance Notice is delivered, then: (i) if an Availability Satisfactory Day occurs or has occurred during the Availability LD Cure Period established under such Availability Underperformance Notice, then (1) such Availability LD Cure Period shall end, (2) such Availability LD Cure Period shall not resume, (3) no Availability Damage Period shall commence as a result of the occurrence of such Availability Underperformance Notice, and (4) Seller shall not be in default or owe damages as a result of such Availability Underperformance Notice; or (ii) if an Availability Satisfactory Day does not occur or has not occurred during the Availability LD Cure Period established under such Availability Underperformanc...
Availability Guaranty. [Discuss]
Availability Guaranty