Common use of Buydown Liquidated Damages Clause in Contracts

Buydown Liquidated Damages. In the event that the Plant shall have achieved the Guaranteed Minimum Annual Plant Electrical Generation requirement, but has not met the Annual Plant Electrical Generation Guarantee for year four following the Initial Energy Delivery Date under the PPA, Owner shall have the option, at its sole election, to require Vendor to buydown the Plant’s performance for the remainder of the PPA term as follows: Vendor, if Owner so elects, shall pay to Owner [*] for each percentage point (or portion thereof) of electrical generation not achieved based upon the highest level of electrical generation produced with respect to any of annual periods as provided in Section 8.1.1 subject to an aggregate limitation of such buydown liquidated damages of [*] (the “Buydown Liquidated Damages”).

Buydown Liquidated Damages. In the event that the Plant shall have achieved the Guaranteed Minimum Annual Plant Electrical Generation requirement, but has not met the Annual Plant Electrical Generation Guarantee for year four following the Initial Energy Delivery Operation Date under the PPA, Owner shall have the option, at its sole election, to require Vendor to buydown the Plant’s performance for the remainder of the PPA term as follows: Vendor, if Owner so elects, shall pay to Owner [*] for each percentage point (or portion thereof) of electrical generation not achieved based upon the highest level of electrical generation produced with respect to any of annual periods as provided in Section 8.1.1 subject to an aggregate limitation of such buydown liquidated damages of [*] (the “Buydown Liquidated Damages”).