Buyer’s Curtailment Rights Sample Clauses

Buyer’s Curtailment Rights. (a) Notwithstanding anything to the contrary, Buyer shall have the right, in its sole and absolute discretion, to curtail some or all of the Contract Energy to be delivered from the Generating Facility to Buyer at the Energy Financial Delivery Point during any MISO Settlement Interval by: (i) providing Seller notice of a Maximum Delivered Contract Energy for such MISO Settlement Interval by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Day-Ahead Energy Market; or (ii) requiring Seller to offer the Generating Facility into the MISO Real- Time Energy Market at the Injection Point according to the energy offer curve or other specific instructions of Buyer provided to Seller by the MMP Deadline applicable with respect to such MISO Settlement Interval for the MISO Real-Time Energy Market, provided that offering the Generating Facility according to Xxxxx’s specific instructions is permitted by applicable Balancing Authority rules, procedures and protocols and other applicable Laws. Buyer may include any curtailment instructions pursuant to clause (i) above or offer instructions pursuant to clause (ii) above in the notice of Minimum Market Price described in Section 7.3(a)(iii). In the case of a Buyer curtailment pursuant to clause (ii) above, Buyer shall be deemed to have curtailed the Contract Energy, if any, that, according to the dispatch instructions from MISO resulting from implementing Buyer’s offer instructions to Seller, should not have been generated by the Generating Facility and injected at the Injection Point during such MISO Settlement Interval. (b) Further, if both the MISO Day-Ahead Energy Market and the MISO Real- Time Energy Market clear with an LMP for any MISO Settlement Interval below the respective Minimum Market Price applicable thereto, Buyer shall be deemed to have curtailed any Contract Energy actually generated or that would have been generated by the Generating Facility and delivered to Buyer at the Energy Financial Delivery Point during such MISO Settlement Interval.
Sample 1Sample 2Sample 3See All (22)
AutoNDA by SimpleDocs

Related to Buyer’s Curtailment Rights

  • Condition of the Contractor’s Property or Equipment The Contractor shall make the Property and/or equipment available to the Judicial Council, pursuant to the terms and conditions set forth in this Agreement. The Contractor shall immediately remedy any problem with the Property’s physical plant or equipment that impairs or diminishes the quality of the Program. The Contractor shall ensure the appropriate hot water, heating, and ventilation is provided at the Property during the Program, inclusive in the prices set forth herein.

  • Environmental Conditions A Phase I environmental site assessment (or update of a previous Phase I and or Phase II environmental site assessment) and, with respect to certain Mortgage Loans, a Phase II environmental site assessment (collectively, an “ESA”) meeting ASTM requirements conducted by a reputable environmental consultant in connection with such Mortgage Loan within 12 months prior to its origination date (or an update of a previous ESA was prepared), and such ESA (i) did not identify the existence of recognized environmental conditions (as such term is defined in ASTM E1527-13 or its successor, hereinafter “Environmental Condition”) at the related Mortgaged Property or the need for further investigation, or (ii) if the existence of an Environmental Condition or need for further investigation was indicated in any such ESA, then at least one of the following statements is true: (A) an amount reasonably estimated by a reputable environmental consultant to be sufficient to cover the estimated cost to cure any material noncompliance with applicable Environmental Laws or the Environmental Condition has been escrowed by the related Mortgagor and is held or controlled by the related Mortgagee; (B) if the only Environmental Condition relates to the presence of asbestos-containing materials, radon in indoor air, lead based paint or lead in drinking water, the only recommended action in the ESA is the institution of such a plan, an operations or maintenance plan has been required to be instituted by the related Mortgagor that can reasonably be expected to mitigate the identified risk; (C) the Environmental Condition identified in the related environmental report was remediated or abated in all material respects prior to the date hereof, and, if and as appropriate, a no further action or closure letter was obtained from the applicable governmental regulatory authority (or the environmental issue affecting the related Mortgaged Property was otherwise listed by such governmental authority as “closed” or a reputable environmental consultant has concluded that no further action is required); (D) an environmental policy or a lender’s pollution legal liability insurance policy that covers liability for the identified circumstance or condition was obtained from an insurer rated no less than “A-” (or the equivalent) by Xxxxx’x Investors Service, Inc., S&P Global Ratings, acting through Standard & Poor’s Financial Services LLC, Fitch Ratings, Inc. and/or A.M. Best Company; (E) a party not related to the Mortgagor was identified as the responsible party for such condition or circumstance and such responsible party has financial resources reasonably estimated to be adequate to address the situation; or (F) a party related to the Mortgagor having financial resources reasonably estimated to be adequate to address the situation is required to take action. To the Mortgage Loan Seller’s knowledge, except as set forth in the ESA, there is no Environmental Condition (as such term is defined in ASTM E1527-13 or its successor) at the related Mortgaged Property.

  • Buyer’s Closing Deliveries At the Closing, Buyer shall deliver or cause to be delivered the following:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!