Common use of Energy Yield Guaranty Clause in Contracts

Energy Yield Guaranty. (a) Seller shall be required to demonstrate from time to time that the Energy Yield Guaranty has been satisfied, as more particularly described in Section 4 of the Scope Book. If the final run of the Substantial Completion Energy Model has been performed, the final results of such run do not demonstrate that the PV Plant has satisfied the Energy Yield Guaranty, and, pursuant to Section 4 of the Scope Book, Seller has elected to pay Energy Yield Liquidated Damages in lieu of curing such failure, the Substantial Completion Payment Amount shall be reduced by an amount equal to the product of (i) the Purchase Price multiplied by (ii) the result of one (1) minus a fraction with (A) a numerator equal to the As-Built Energy Yield and (B) a denominator equal to the Base Case Energy Yield (such amount, the “Energy Yield Liquidated Damages”). Seller shall notify Buyer of any election to pay Energy Yield Liquidated Damages within three (3) Business Days after the generation of the final results of the final run of the Substantial Completion Energy Model.