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
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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.
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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...
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Availability Guaranty. [Discuss]
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Availability Guaranty 
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Related to Availability Guaranty

  • No Quantity Guarantees The System Agency makes no guarantee of volume or usage of work under this Grant Agreement. All work requested may be on an irregular and as needed basis throughout the Grant Agreement term.

  • Reaffirmation of Credit Party Obligations Each Credit Party hereby ratifies the Credit Agreement and acknowledges and reaffirms (a) that it is bound by all terms of the Credit Agreement applicable to it and (b) that it is responsible for the observance and full performance of its respective Credit Party Obligations.

  • Daily Guarantee (a) Subject to the provisions of Subsection (c), an employee reporting for a scheduled shift on the call of the Corporation, shall receive the employee's regular hourly rate of pay for the entire period spent at the place of work, with a minimum of two (2) hours' pay at the regular hourly rate. (b) Subject to the provisions of Subsection (c), an employee other than a school student on a school day who commences work on a scheduled shift, shall receive the employee's regular hourly rate of pay for the entire period spent at the place of work, with a minimum of four (4) hours' pay at the regular hourly rate. (c) In any case where an employee: (i) reports for a regular shift but refuses to commence work, or (ii) commences work but refuses to continue working, the employee shall not be entitled to receive the minimum payments set forth in Subsections (a) and (b).

  • Guaranty Each Guarantor hereby absolutely and unconditionally, jointly and severally guarantees, as primary obligor and as a guaranty of payment and performance and not merely as a guaranty of collection, prompt payment when due, whether at stated maturity, by required prepayment, upon acceleration, demand or otherwise, and at all times thereafter, of any and all Secured Obligations (for each Guarantor, subject to the proviso in this sentence, its “Guaranteed Obligations”); provided that (a) the Guaranteed Obligations of a Guarantor shall exclude any Excluded Swap Obligations with respect to such Guarantor and (b) the liability of each Guarantor individually with respect to this Guaranty shall be limited to an aggregate amount equal to the largest amount that would not render its obligations hereunder subject to avoidance under Section 548 of the Bankruptcy Code of the United States or any comparable provisions of any applicable state law. Without limiting the generality of the foregoing, the Guaranteed Obligations shall include any such indebtedness, obligations, and liabilities, or portion thereof, which may be or hereafter become unenforceable or compromised or shall be an allowed or disallowed claim under any proceeding or case commenced by or against any debtor under any Debtor Relief Laws. The Administrative Agent’s books and records showing the amount of the Obligations shall be admissible in evidence in any action or proceeding, and shall be binding upon each Guarantor, and conclusive for the purpose of establishing the amount of the Secured Obligations. This Guaranty shall not be affected by the genuineness, validity, regularity or enforceability of the Secured Obligations or any instrument or agreement evidencing any Secured Obligations, or by the existence, validity, enforceability, perfection, non-perfection or extent of any collateral therefor, or by any fact or circumstance relating to the Secured Obligations which might otherwise constitute a defense to the obligations of the Guarantors, or any of them, under this Guaranty, and each Guarantor hereby irrevocably waives any defenses it may now have or hereafter acquire in any way relating to any or all of the foregoing.

  • Performance by Borrower Borrower shall in a timely manner observe, perform and fulfill each and every covenant, term and provision of each Loan Document executed and delivered by, or applicable to, Borrower, and shall not enter into or otherwise suffer or permit any amendment, waiver, supplement, termination or other modification of any Loan Document executed and delivered by, or applicable to, Borrower without the prior written consent of Lender.