Determination of Alcoa’s Take-Or-Pay Obligation Sample Clauses

Determination of Alcoa’s Take-Or-Pay Obligation. No later than June 1 of each year during the Term, commencing with 2011 (the year of the initial Project Availability Date), the District shall calculate the Chelan Transmission System Revenue Requirement (“CTSRR”), in accordance with the methodology specified in Exhibit C to this Transmission Agreement, based on audited financial data for the preceding fiscal year. This CTSRR shall apply to all Transmission Service during the subsequent 12 consecutive months (July through June); provided, however, that the initial CTSRR shall be calculated by October 1, 2011, and shall apply to Transmission Service during November and December of 2011 through June of 2012. Alcoa’s take-or-pay obligation under this Transmission Agreement shall be based on CTSRR and the Compensation Fraction, each determined from time to time in accordance with this Article V, and derived according to the following formula: Monthly take-or-pay amount = CTSRR * Compensation Fraction If and to the extent the District incurs any obligation to refund all, or any part of, a contribution in aid of construction or other prepayment made by a transmission customer of the District other than Alcoa regarding any component of the Chelan Transmission System constructed after the Execution Date, then such refund shall thereupon be included in the calculation of CTSRR. The District shall, in its arrangements with any third party regarding any Direct Assignment Facility, recover all of its direct costs for such facility and, as determined by the District in a Commercially Reasonable manner, all of its indirect costs, if any, that are included in the calculation of CTSRR pursuant to this Transmission Agreement. Nothing in the immediately preceding sentence shall confer on Alcoa any rights or benefits under any such third party arrangements.
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Related to Determination of Alcoa’s Take-Or-Pay Obligation

  • DETERMINATION OF HUB PARTICIPATION A firm must be an eligible HUB and perform a professional or technical function relating to the project. Proof of payment, such as copies of canceled checks, properly identifying the Department’s contract number or project number may be required to substantiate the payment, as deemed necessary by the Department. A HUB subprovider, with prior written approval from the Department, may subcontract 70% of a contract as long as the DocuSign Envelope ID: 1FDB1C48-24B1-4C40-8A33-17263E465FE2 HUB subprovider performs a commercially useful function. All subcontracts shall include the provisions required in the subcontract and shall be approved as to form, in writing, by the Department prior to work being performed under the subcontract. A HUB performs a commercially useful function when it is responsible for a distinct element of the work of a contract; and actually manages, supervises, and controls the materials, equipment, employees, and all other business obligations attendant to the satisfactory completion of contracted work. If the subcontractor uses an employee leasing firm for the purpose of providing salary and benefit administration, the employees must in all other respects be supervised and perform on the job as if they were employees of the subcontractor.

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  • DISQUALIFICATION FOR PAST PERFORMANCE AND FINDINGS OF NON RESPONSIBILITY Bidder may be disqualified from receiving awards if Bidder, or anyone in Bidder’s employment, has previously failed to perform satisfactorily in connection with public Bidding or contracts or is deemed non- responsible.

  • Participating State Modifications or Additions to Master Agreement These modifications or additions apply only to actions and relationships within the Participating State. The following changes are modifying or supplementing the Master Agreement terms and conditions.

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