Default Usage Charge Sample Clauses

Default Usage Charge. If inadequate or unusable Adjustment Bids have been submitted to the ISO to enable the ISO’s Congestion Management to schedule Inter- Zonal Interface capacity on an economic basis, then the ISO will calculate and impose a default Usage Charge, in accordance with Sections 7.3.1.3.1 through 7.3.1.3.4. 7.3.1.3.1 The default Usage Charge will be calculated within a range having an absolute floor of $0/MWh and an absolute ceiling of $500/MWh; provided that the ISO may vary the floor within the absolute limits, with day-prior notice (e.g., applicable to next day’s Day-Ahead Market) to Scheduling Coordinators, and vary the ceiling within the absolute limits, with at least seven (7) days notice to Scheduling Coordinators. 7.3.1.3.2 The default Usage Charge will be calculated, in accordance with this Section 7.3.1.3, by applying a pre-set adder, ranging from $0/MWh to $99/MWh, to the highest incremental Adjustment Bid used, less the applicable decremental Adjustment Bid used; provided that in all cases where there are insufficient decremental Adjustment Bids or no decremental Adjustment Bids available, in the exercise of mitigating Congestion, the applicable decremental price will be set equal to $0/MWh; provided, further, that the ISO may vary the pre-set adder with day-prior notice to Scheduling Coordinators (e.g., applicable to next day’s Day-Ahead Market). 7.3.1.3.3 Upon the ISO Operations Date, and until such time as the ISO determines otherwise, the ceiling price for the default Usage Charge will be set at $250/MWh; the floor price for the default Usage Charge will be set at $30/MWh; and the pre-set adder that is to be applied in accordance with section 7.3.1.3.2 will be set at $0/MWh. 7.3.1.3.4 The ISO will develop and implement a procedure for posting default Usage Charges on the WEnet or ISO Home Page. 7.3.1.3.5 If the Congestion Management software is not capable of calculating the default Usage Charge upon the ISO Operations Date in accordance with Sections
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Related to Default Usage Charge

  • Default Interest Upon the occurrence and during the continuance of an Event of Default under Section 6.01(a), the Agent may, and upon the request of the Required Lenders shall, require the Borrower to pay interest (“Default Interest”) on (i) the unpaid principal amount of each Advance owing to each Lender, payable in arrears on the dates referred to in clause (a)(i) or (a)(ii) above, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on such Advance pursuant to clause (a)(i) or (a)(ii) above and (ii) to the fullest extent permitted by law, the amount of any interest, fee or other amount payable hereunder that is not paid when due, from the date such amount shall be due until such amount shall be paid in full, payable in arrears on the date such amount shall be paid in full and on demand, at a rate per annum equal at all times to 2% per annum above the rate per annum required to be paid on Base Rate Advances pursuant to clause (a)(i) above; provided, however, that following acceleration of the Advances pursuant to Section 6.01, Default Interest shall accrue and be payable hereunder whether or not previously required by the Agent.

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