Capacity/Retirements Sample Clauses

Capacity/Retirements i. Subject to the provision below in Section 2(a)v regarding uprates, for all of its generating units NewCo will calculate its RPM auction Market Seller Offer Caps, as that term is defined in Attachment DD of the PJM Tariff, using the methodologies set forth in Attachment DD of the PJM Tariff. NewCo will calculate the Avoidable Project Investment Recovery Rate ii. Absent catastrophic failure or significant regulatory changes which make continued operation of the unit uneconomic, NewCo will not give notice to retire a unit unless, (1) it has offered such unit into the most recent base residual RPM auction at the Market Seller Offer Cap as determined in accordance with Section 2(a)(i), and (2) the unit does not clear in that auction. iii. Absent catastrophic failure or significant regulatory changes which make continued operation of the unit uneconomic, NewCo will provide to PJM and the IMM 18 months written notice before retiring any generating unit owned by NewCo; provided, however, that if after such announcement, PJM determines that there are no reliability issues associated with the retirement of the unit which would cause PJM to request that NewCo iv. As expeditiously as possible after NewCo announces the decision to retire any generating unit owned by NewCo, NewCo will provide the IMM with NewCo’s economic analysis supporting the retirement decision. v. Should NewCo wish to uprate a unit, and the uprate would not materially change the operational characteristics of the unit, such uprate will be subject to the PJM Market Seller Offer Caps, as defined in Attachment DD for existing units. Should NewCo wish to uprate a unit, and the uprate would materially change the operational characteristics of the unit (e.g., uprating a simple cycle combustine turbine unit to a combined cycle unit), at least six months before offering the uprated capacity in an RPM base residual auction, NewCo will provide to the IMM NewCo’s proposed offer for the amount of MW associated with the uprate. NewCo’s offer will reflect NewCo’s view of the future likely energy and ancillary services revenue offset, estimated actual costs, and required return on investment, of the proposed uprate. Such offer will be subject to the PJM Market Seller Offer Caps, as defined
Sample 1
AutoNDA by SimpleDocs

Related to Capacity/Retirements

  • Disability Retirement If, as a result of your incapacity due to physical or mental illness, You shall have been absent from the full-time performance of your duties with the Company for 6 consecutive months, and within 30 days after written notice of termination is given You shall not have returned to the full-time performance of your duties, your employment may be terminated for "Disability." Termination of your employment by the Company or You due to your "Retirement" shall mean termination in accordance with the Company's retirement policy, including early retirement, generally applicable to its salaried employees or in accordance with any retirement arrangement established with your consent with respect to You.

  • Early Retirement Age The age set by the Employer in the Adoption Agreement, not less than age fifty-five (55), at which a Participant becomes fully vested and is eligible to retire and receive his or her benefits under the Plan.

  • Early Retirement An employee entitled to twenty-five (25) or more days of annual vacation shall be entitled to defer up to five (5) days per year of vacation into an Early Retirement Bank. An employee entitled to thirty (30) or more days of annual vacation shall be entitled to defer up to ten (10) days per year of vacation into an Early Retirement Bank. Such deferred vacation may only be taken immediately prior to retirement. The Employer may, at its sole discretion, permit an employee to use such banked vacation under other circumstances.

  • Early Retirement Date Early Retirement Date shall mean a retirement from employment which is effective prior to the Normal Retirement Age stated herein, provided the Executive has attained age sixty (60) with thirty (30) years of service with the bank.

  • Normal Retirement Age Normal Retirement Age shall mean the date on which the Executive attains age sixty-five (65).

  • Early Retirement Benefits If elected in the Adoption Agreement, an Early Retirement benefit may be available to individuals who meet the age and Service requirements that are specified in the Adoption Agreement. A Participant who attains his or her Early Retirement Date will become fully vested, regardless of any vesting schedule which otherwise might apply. If a Participant separates from Service with a nonforfeitable benefit before satisfying the age requirements, but after having satisfied the Service requirement, the Participant will be entitled to elect an Early Retirement benefit upon satisfaction of the age requirement.

  • Normal Retirement Normal Retirement Age under the Plan is: (Choose (a) or (b)) [X] (a) 65 [State age, but may not exceed age 65].

  • Early Retirement Benefit Upon Termination of Service prior to the Normal Retirement Age for reasons other than death, Change of Control or Disability, the Company shall pay to the Director the benefit described in this Section 4.2 in lieu of any other benefit under this Agreement.

  • Normal Retirement Date The term “Normal Retirement Date” means “Normal Retirement Date” as defined in the primary qualified defined benefit pension plan applicable to the Executive, or any successor plan, as in effect on the date of the Change in Control of the Company.

  • Retirement Age It is assumed that an employee terminates employment at the end of the school year in which the employee attains age 58 or at the end of the current year, if the individual is already 58 or older.

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