Credit Reduction Sample Clauses
Credit Reduction. If Company achieves a Performance Factor of less than 50 percent in any Interruption, TVA may reduce the calculated Monthly Demand Credit applicable under subsection 6.2 above by 50 percent. The full amount of the Monthly Demand Credit may be reinstated by TVA only if Company requests a reinstatement from TVA, in writing, and Company demonstrates a 100 percent Performance Factor during an Interruption of the same kind (an Emergency Interruption, Capacity Interruption, or Test Interruption, at the Emergency Protected Demand and/or Capacity Protected Demand, as applicable, in effect prior to TVA’s adjustment). In order to facilitate Company’s demonstration of said 100 percent Performance Factor, Company may request TVA to perform a Test Interruption and TVA may perform that Test Interruption at its sole discretion. It is recognized that the applicable IC, PC, LC, ESC, and ILPC amounts in the Schedule of Credits and Charges are not reduced by 50 percent in the application of this subsection 6.3. Any such reduction, or reinstatement following a reduction, will be effective on the first day of the month following written notice to Company from TVA of a reduction or a reinstatement. Written notices of reduction, or reinstatement following a reduction, under this subsection may be given by TVA at any time following TVA’s determination that Company has triggered TVA’s ability to make such reduction, or reinstatement, in the calculated Monthly Demand Credit. In TVA’s sole discretion, Company and TVA may cooperate in fulfilling the Monthly Demand Credit reinstatement requirements of this subsection 6.3 prior to TVA’s issuance of a notice of reduction. In such case, TVA will not issue a notice of reduction related to the specific Interruption that would have otherwise caused a reduction to take effect under this subsection.
Credit Reduction. 3.1 The Buyer hereby requests and the Seller agrees to reduce the outstanding balance of the credit described in Paragraph 5.4.2 of Letter Agreement No. 7 to the Agreement, as amended in Paragraph 12 of Letter Agreement No. 1 to Amendment No. 12 to the Agreement, by an amount equal to US dollars – one million five hundred twenty-eight thousand (US$1,528,000).
3.2 The Buyer hereby requests and the Seller agrees to reduce the outstanding balance of the goods and services credit described in Paragraph 2 to Amendment No. 13 to the Agreement by an amount equal to US dollars – one million one hundred sixty-two thousand two hundred fifty-six (US$1,162,256). Accordingly, the balance of such credit as of the date hereof amounts to US dollars – six hundred forty-eight thousand seventy (US$648,070), it being understood that such balance may be used only to purchase goods and services from the Seller as provided for in the Agreement.
Credit Reduction. The Buyer hereby requests and the Seller agrees to reduce the remaining outstanding balance of the credit described in Paragraph 4 of Amendment No. 7 to the Agreement by an amount equal to US dollars – five hundred thousand (US$500,000) Accordingly, the balance of such credit as of the date hereof is reduced to zero.