Common use of Deficient Installation of As-Available Contract Capacity; Partial Forfeiture and Partial Return of the Development Security Clause in Contracts

Deficient Installation of As-Available Contract Capacity; Partial Forfeiture and Partial Return of the Development Security. If, on or before the Firm Operation Date, Seller does not demonstrate any portion of the As-Available Contract Capacity or only demonstrates a portion of the As-Available Contract Capacity by delivering to Buyer certificates from a California-licensed professional engineer qualified to make a representation setting forth the As-Available Contract Capacity, then Seller will only be entitled to a return of the portion of the Development Security posted by Seller equal to the product of $20 per kW times the kilowatts of As-Available Contract Capacity which Seller has demonstrated, if any. Seller shall forfeit and Buyer shall be entitled to retain the balance of the Development Security. In addition, as of the Firm Operation Date, the Performance Assurance Amount for the Performance Assurance required to be posted and maintained pursuant to Section 2 of this Exhibit D shall be calculated using the adjusted As-Available Contract Capacity, and any amount of Performance Assurance in excess of that required for the adjusted As-Available Contract Capacity shall be returned to Seller. Seller shall provide Notice to Buyer of its request for a refund of the Development Security.

Appears in 2 contracts

Samples: Power Purchase and Sale Agreement, Power Purchase and Sale Agreement

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Deficient Installation of As-Available Contract Capacity; Partial Forfeiture and Partial Return of the Development Security. If, on or before the Firm Operation Date, Seller does not demonstrate any portion of the As-Available Contract Capacity or only demonstrates a portion of the As-Available Contract Capacity by delivering to Buyer certificates from a California-licensed professional engineer qualified to make a representation setting forth the As-Available Contract Capacity, then Seller will only be entitled to a return of the portion of the Development Security posted by Seller equal to the product of $20 per kW times the kilowatts of As-Available Contract Capacity which Seller has demonstrated, if any. Seller shall forfeit and Buyer shall be entitled to retain the balance of the Development Security. In addition, as of the Firm Operation Date, the Performance Assurance Amount for the Performance Assurance required to be posted and maintained pursuant to Section 2 of this Exhibit D shall be calculated using the adjusted As-Available Contract Capacity, and any amount of Performance Assurance in excess of that required for the adjusted As-Available Contract Capacity shall be returned to Seller. Seller shall provide Notice to Buyer of its request for a refund of the Development Security.

Appears in 2 contracts

Samples: Power Purchase and Sale Agreement, Power Purchase and Sale Agreement

Deficient Installation of As-Available Contract Capacity; Partial Forfeiture and Partial Return of the Development Security. If, on or before the Firm Operation Date, Seller does not demonstrate any portion of the As-Available Contract Capacity or only demonstrates a portion of the As-Available Contract Capacity by delivering to Buyer certificates from a California-licensed professional engineer qualified to make a ID# [Number], [Seller’s Name] representation setting forth the As-Available Contract Capacity, then Seller will only be entitled to a return of the portion of the Development Security posted by Seller equal to the product of $20 per kW times the kilowatts of As-Available Contract Capacity which Seller has demonstrated, if any. Seller shall forfeit and Buyer shall be entitled to retain the balance of the Development Security. In addition, as of the Firm Operation Date, the Performance Assurance Amount for the Performance Assurance required to be posted and maintained pursuant to Section 2 of this Exhibit D shall be calculated using the adjusted As-Available Contract Capacity, and any amount of Performance Assurance in excess of that required for the adjusted As-As- Available Contract Capacity shall be returned to Seller. Seller shall provide Notice to Buyer of its request for a refund of the Development Security.

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

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Deficient Installation of As-Available Contract Capacity; Partial Forfeiture and Partial Return of the Development Security. If, on or before the Firm Operation Date, Seller does not demonstrate any portion of the As-Available Contract Capacity or only demonstrates a portion of the As-Available Contract Capacity by delivering to Buyer certificates from a California-licensed professional engineer qualified to make a representation setting forth the As-Available Contract Capacity, then Seller will only be entitled to a return of the portion of the Development Security posted by Seller equal to the product of $20 per kW times the kilowatts of As-Available Contract Capacity which Seller has demonstrated, if any. Seller shall forfeit and Buyer shall be entitled to retain the balance of the Development Security. In addition, as of the Firm Operation Date, the Performance Assurance Amount for the Performance Assurance required to be posted and maintained pursuant to Section 2 of this Exhibit D shall be calculated using the adjusted As-Available Contract Capacity, and any amount of Performance Assurance in excess of that required for the adjusted As-As- Available Contract Capacity shall be returned to Seller. Seller shall provide Notice to Buyer of its request for a refund of the Development Security.

Appears in 1 contract

Samples: Power Purchase and Sale Agreement

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