Combustion Turbine Fired Hour Payments Sample Clauses

Combustion Turbine Fired Hour Payments. (a) Gulf Power shall, for each Month during the Operating Term, pay Shell an amount equal to the number of Factored Fired Hours for each Combustion Turbine during such Month multiplied by the Base Fired Hour Rate applicable to such Month. (b) The Start Ratio shall equal the sum of (i) the number of Factored Fired Hours of each Combustion Turbine during such Contract Year, divided by (ii) the number of Gulf Power Factored CT Starts during such Contract Year. (c) If the Start Ratio for a Contract Year is 30 or higher, the Adjusted Fired Hour Payment for such Contract Year shall be deemed equal to the total of the Fired Hour Payments calculated for each of the Months of such Contract Year according to Section 8.5(a). (d) If the Start Ratio for a Contract Year is 20 or higher but less than 30, the Adjusted Fired Hour Payment for such Contract Year shall equal the product of (i) the Factored Fired Hours for such entire Contract Year, multiplied by (ii) the difference of (A) the Tier 1 Fired Hour Rate applicable to such Contract Year minus (B) the product of the Start Ratio for such Contract Year multiplied by the Tier 1 Adjustment Rate for such Contract Year. In such event, (x) if the Adjusted Fired Hour Payment exceeds the total of the Fired Hour Payments for each of the Months of such Contract Year, Gulf Power shall pay to Shell an amount equal to such excess, or (y) if the total of the Fired Hour Payments for each of the Months of such Contract Year exceeds the Adjusted Fired Hour Payment, Shell shall pay to Gulf Power an amount equal to such excess. Any payment under the preceding sentence shall be made at the time of payment of the Statement covering the last Month of the applicable Contract Year. (e) If the Start Ratio for a Contract Year is 10 or higher but less than 20, the Adjusted Fired Hour Payment for such Contract Year shall equal the product of (i) the Factored Fired Hours for such entire Contract Year, multiplied by (ii) the difference of (A) the Tier 2 Fired Hour Rate applicable to such Contract Year minus (B) the product of the Start Ratio for such Contract Year multiplied by the Tier 2 Adjustment Rate for such Contract Year. In such event, (x) if the Adjusted Fired Hour Payment exceeds the total of the Fired Hour Payments for each of the Months of such Contract Year, Gulf Power shall pay to Shell an amount equal to such excess, or (y) if the total of the Fired Hour Payments for each of the Months of such Contract Year exceeds the Adjusted Fire...
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