Financial Scheduling. For all purposes of this Agreement, the sale and delivery to Buyer at the Energy Financial Delivery Point in the Applicable Market of the Contract Energy and Storage Energy actually generated or produced by the Generating Facility and the Storage Facility, respectively, and injected at the Injection Point (up to the Maximum Delivered Contract Energy, in the case of Contract Energy, and up to the amount of Storage Energy scheduled by Buyer for delivery, in the case of Storage Energy, in each case, in each applicable MISO Settlement Interval), as well as the payment by Buyer of the amount contemplated by Section 7.3(e)(i)(A) (if applicable), shall be made as follows: (a) For each MISO Settlement Interval during the Delivery Term, Seller shall prepare and submit to MISO, by the earlier of 1400 BA Time on the Day after the Day in which such MISO Settlement Interval occurs or sixty (60) minutes prior to the E4 Settlement Submission Deadline, a Financial Schedule from Seller (or its designated Market Participant) to Buyer (or its designated Market Participant) covering such MISO Settlement Interval that (i) designates Seller (or its designated Market Participant) as the selling Market Participant and Buyer (or its designated Market Participant) as the buying Market Participant, (ii) reflects, for such MISO Settlement Interval, a quantity of energy equal to the sum of (A) the amount of Contract Energy actually generated by the Facility and injected at the Injection Point (up to the Maximum Delivered Contract Energy), if any, and (B) the amount of Storage Energy actually produced by the Storage Facility that was scheduled by Buyer for delivery and injected at the Injection Point (up to the amount scheduled by Buyer for delivery), in each case, during such MISO Settlement Interval, as determined according to Section 8.2, (iii) designates the Injection Point as the Source Point (as defined in the MISO Rules), (iv) designates the Energy Financial Delivery Point as both the Internal Delivery Point and the Sink Point (as each such term is defined in the MISO Rules) and
Appears in 15 contracts
Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement
Financial Scheduling. For all purposes of this Agreement, the sale and delivery to Buyer at the Energy Financial Delivery Point in the Applicable Market of the Contract Energy and Storage Energy actually generated or produced by the Generating Facility and the Storage Facility, respectively, and injected at the Injection Point (up to the Maximum Delivered Contract Energy, in the case of Contract Energy, and up to the amount of Storage Energy scheduled by Buyer for delivery, in the case of Storage Energy, in each case, in each applicable MISO Settlement Interval), as well as the payment by Buyer of the amount contemplated by Section 7.3(e)(i)(A) (if applicable), shall be made as follows:
(a) For each MISO Settlement Interval during the Delivery Term, Seller shall prepare and submit to MISO, by the earlier of 1400 BA Time on the Day after the Day in which such MISO Settlement Interval occurs or sixty (60) minutes prior to the E4 Settlement Submission Deadline, a Financial Schedule from Seller (or its designated Market Participant) to Buyer (or its designated Market Participant) covering such MISO Settlement Interval that (i) designates Seller (or its designated Market Participant) as the selling Market Participant and Buyer (or its designated Market Participant) as the buying Market Participant, (ii) reflects, for such MISO Settlement Interval, a quantity of energy equal to the sum of (A) the amount of Contract Energy actually generated by the Facility and injected at the Injection Point (up to the Maximum Delivered Contract Energy), if any, and (B) the amount of Storage Energy actually produced by the Storage Facility that was scheduled by Buyer for delivery and injected at the Injection Point (up to the amount scheduled by Buyer for delivery), in each case, during such MISO Settlement Interval, as determined according to Section 8.2, (iii) designates the Injection Point as the Source Point (as defined in the MISO Rules), (iv) designates the Energy Financial Delivery Point as both the Internal Delivery Point and the Sink Point (as each such term is defined in the MISO Rules) andand (v) otherwise meets the requirements for an accurate, complete and valid Financial Schedule. To the extent that any information required to prepare and submit such Financial Schedule is not available to Seller (or is not final) by the xxxx Xxxxxx is required to submit such Financial Schedule according to this Section 7.8(a) (including as a result of missing information from MISO or subsequent adjustments thereto), Seller shall prepare and submit such Financial Schedule based on the best information that it has at that time.
(b) If, prior to the MISO FinSched Deadline, Seller becomes aware of any error in any then-current Financial Schedule submitted by Seller to MISO pursuant to Section 7.8(a) or receives from MISO any missing information or adjustments to prior information, Seller shall, to the extent permitted by applicable Laws, submit to MISO a modification thereto correcting such error or information as promptly as practicable, but no later than the earlier of (i) thirty (30) minutes after becoming aware of such error or receiving such missing information or adjustment from MISO or (ii) the MISO FinSched Deadline, provided that no such modification shall be considered to cure a failure by Seller to submit a Financial Schedule meeting the requirements of clauses (i)-
Appears in 2 contracts
Financial Scheduling. For all purposes of this Agreement, the sale and delivery to Buyer at the Energy Financial Delivery Point in the Applicable Market of the Contract Energy and Storage Energy actually generated or produced by the Generating Facility and the Storage Facility, 58 NTD: Insert if the Facility is external to MISO and it is necessary for Buyer to enter into an agreement or arrangement for NITS to accommodate Full Deliverability. respectively, and injected at the Injection Point (up to the Maximum Delivered Contract Energy, in the case of Contract Energy, and up to the amount of Storage Energy scheduled by Buyer for delivery, in the case of Storage Energy, in each case, in each applicable MISO Settlement Interval), as well as the payment by Buyer of the amount contemplated by Section 7.3(e)(i)(A) (if applicable), shall be made as follows:
(a) For each MISO Settlement Interval during the Delivery Term, Seller shall prepare and submit to MISO, by the earlier of 1400 BA Time on the Day after the Day in which such MISO Settlement Interval occurs or sixty (60) minutes prior to the E4 Settlement Submission Deadline, a Financial Schedule from Seller (or its designated Market Participant) to Buyer (or its designated Market Participant) covering such MISO Settlement Interval that (i) designates Seller (or its designated Market Participant) as the selling Market Participant and Buyer (or its designated Market Participant) as the buying Market Participant, (ii) reflects, for such MISO Settlement Interval, a quantity of energy equal to the sum of (A) the amount of Contract Energy actually generated by the Facility and injected at the Injection Point (up to the Maximum Delivered Contract Energy), if any, and (B) the amount of Storage Energy actually produced by the Storage Facility that was scheduled by Buyer for delivery and injected at the Injection Point (up to the amount scheduled by Buyer for delivery), in each case, during such MISO Settlement Interval, as determined according to Section 8.2, (iii) designates the Injection Point as the Source Point (as defined in the MISO Rules), (iv) designates the Energy Financial Delivery Point as both the Internal Delivery Point and the Sink Point (as each such term is defined in the MISO Rules) and
Appears in 2 contracts
Financial Scheduling. For all purposes of this Agreement, the sale and delivery to Buyer at the Energy Financial Delivery Point in the Applicable Market of the Contract Energy and Storage Energy actually generated or produced by the Generating Facility and the Storage Facility, respectively, and injected at the Injection Point (up to the Maximum Delivered Contract Energy, in the case of Contract Energy, and up to the amount of Storage Energy scheduled by Buyer for delivery, in the case of Storage Energy, in each case, in each applicable MISO Settlement Interval), as well as the payment by Buyer of the amount contemplated by Section 7.3(e)(i)(A) (if applicable), shall be made as follows:
(a) For each MISO Settlement Interval during the Delivery Term, Seller shall prepare and submit to MISO, by the earlier of 1400 BA Time on the Day after the Day in which such MISO Settlement Interval occurs or sixty (60) minutes prior to the E4 Settlement Submission Deadline, a Financial Schedule from Seller (or its designated Market Participant) to Buyer (or its designated Market Participant) covering such MISO Settlement Interval that (i) designates Seller (or its designated Market Participant) as the selling Market Participant and Buyer (or its designated Market Participant) as the buying Market Participant, (ii) reflects, for such MISO Settlement Interval, a quantity of energy equal to the sum of (A) the amount of Contract Energy actually generated by the Facility and injected at the Injection Point (up to the Maximum Delivered Contract Energy), if any, and (B) the amount of Storage Energy actually produced by the Storage Facility that was scheduled by Buyer for delivery and injected at the Injection Point (up to the amount scheduled by Buyer for delivery), in each case, during such MISO Settlement Interval, as determined according to Section 8.2, (iii) designates the Injection Point as the Source Point (as defined in the MISO Rules), (iv) designates the Energy Financial Delivery Point as both the Internal Delivery Point and the Sink Point (as each such term is defined in the MISO Rules) and (v) otherwise meets the requirements for an accurate, complete and valid Financial Schedule. To the extent that any information required to prepare and submit such Financial Schedule is not available to Seller (or is not final) by the xxxx Xxxxxx is required to submit such Financial Schedule according to this Section 7.8(a) (including as a result of missing information from MISO or subsequent adjustments thereto), Seller shall prepare and submit such Financial Schedule based on the best information that it has at that time.
(b) If, prior to the MISO FinSched Deadline, Seller becomes aware of any error in any then-current Financial Schedule submitted by Seller to MISO pursuant to Section 7.8(a) or receives from MISO any missing information or adjustments to prior information, Seller shall, to the extent permitted by applicable Laws, submit to MISO a modification thereto correcting such error or information as promptly as practicable, but no later than the earlier of (i) thirty (30) minutes after becoming aware of such error or receiving such missing information or adjustment from MISO or (ii) the MISO FinSched Deadline, provided that no such modification shall be considered to cure a failure by Seller to submit a Financial Schedule meeting the requirements of clauses (i)-(v) of the first sentence of Section 7.8(a) (after taking into account the flexibility provided by the last sentence of Section 7.8(a)), and its associated FinSched Notice, by the deadline set forth in the first sentence of Section 7.8(a).
(c) Contemporaneously with submission to MISO of any Financial Schedule (or modification thereto) pursuant to Section 7.8(a) or Section 7.8(b), Seller shall notify Buyer of such submission (the “FinSched Notice”).
(d) After Seller submits any Financial Schedule to MISO, Buyer (i) may confirm such Financial Schedule with MISO and (ii) subject to Section 7.8(e) and provided Buyer received a FinSched Notice for such Financial Schedule no later than the Contractual FinSched Submission Deadline for the applicable Financial Schedule, shall confirm such Financial Schedule with MISO by no later than the later of (A) sixty (60) minutes after receipt of the FinSched Notice or (B) twelve (12) hours before the MISO FinSched Deadline for the applicable MISO Settlement Interval (such later time, the “Contractual FinSched Confirmation Deadline”).
(e) Financial Schedule Error or Dispute
(i) If Xxxxx believes a Financial Schedule is inaccurate or, when confirmed by Xxxxx, would not result in a complete, accurate and valid Financial Schedule or otherwise disputes such Financial Schedule, Buyer may notify Seller by telephone to Seller’s [current-day] [next-day]12 scheduling desk. If Buyer so notifies Seller of a dispute, the Parties will use good faith efforts to resolve the dispute as promptly as practicable, but no later than the later of (A) thirty (30) minutes after Xxxxx’s notice to of the dispute to Seller or (B) four (4) hours prior to the Contractual FinSched Confirmation Deadline for such Financial Schedule.
(ii) If Buyer has notified Seller of a dispute over a Financial Schedule and such dispute has not been resolved as of the Contractual FinSched Submission Deadline for such Financial Schedule, but Buyer and Seller have agreed, as of such time, to modify a portion of such Financial Schedule, then Seller shall (A) modify the applicable Financial Schedule accordingly and (B) submit such modified Financial Schedule to MISO, and provide the corresponding FinSched Notice to Buyer according to Section 7.8(c), on or before the Contractual FinSched Submission Deadline for such Financial Schedule. Section 7.8(d) shall then apply to any Financial Schedule submitted according to the immediately preceding sentence (except that, so long as Seller complied with the immediately preceding sentence, the “subject to Section 7.8(e)” set forth in Section 7.8(d)(ii) shall not apply to such Financial Schedule, even if Buyer is not in agreement with it). Any outstanding dispute relating to such Financial Schedule will then 12 NTD: Seller to indicate which scheduling desk should receive notice. be resolved pursuant to Article XVIII (and, for the avoidance of doubt, if it is determined that such Financial Schedule does not meet the requirements of clauses (i)-(v) of the first sentence of Section 7.8(a) (ignoring, for this purpose, the flexibility provided by the last sentence of Section 7.8(a)), then Section 7.8(f) shall apply thereto). For the avoidance of doubt, the confirmation by Xxxxx of a Financial Schedule pursuant to this Section 7.8(e)(ii) shall not waive (in whole or in part) or otherwise prejudice any claim or right of Buyer with respect to disputed terms in such Financial Schedule that were not resolved by the Parties as set forth in this Section 7.4(e).
(f) If, for any MISO Settlement Interval, Seller does not submit, and/or Buyer does not confirm, a Financial Schedule (after giving effect to any modifications thereto that are submitted and confirmed) meeting the requirements of clauses (i)-(v) of the first sentence of Section 7.8(a) (ignoring, for this purpose, the flexibility provided by the last sentence of Section 7.8(a)), including as a result of not submitting and/or confirming any Financial Schedule at all, confirming and submitting a Financial Schedule for the wrong MISO Market or the wrong amount of Contract Energy (including because the exact amount of the Contract Energy is not known at the time such Financial Schedule (including modifications thereto) is submitted or because such amount is later adjusted by MISO) or otherwise (including because a dispute over a Financial Schedule is not resolved until after the Contractual FinSched Submission Deadline for such MISO Settlement Interval), then Seller shall include, in the next Monthly Invoice issued under Article XI, an amount equal to the difference (positive or negative) of (i) the net amount (positive or negative) that would have been received by Buyer from MISO in settlement of the Financial Schedule for such MISO Settlement Interval as it should have been submitted and confirmed according to the requirements of clauses (i)-(v) of the first sentence of Section 7.8(a) (ignoring, for this purpose, the flexibility provided by the last sentence of Section 7.8(a)), minus
Appears in 1 contract
Samples: Power Purchase Agreement
Financial Scheduling. For all purposes of this Agreement, the sale and delivery to Buyer at the Energy Financial Delivery Point in the Applicable Market of the Contract Energy and Storage Energy actually generated or produced by the Generating Facility and the Storage Facility, respectively, and injected at the Injection Electric Interconnection Point (up to the Maximum Delivered Contract Energy, in the case of Contract Energy, and up to the amount of Storage Energy scheduled by Buyer for delivery, in the case of Storage Energy, in each case, in each applicable MISO Settlement Interval), as well as the payment by Buyer of the amount contemplated by Section 7.3(e)(i)(A) (if applicable), shall be made as follows:
(a) For each MISO Settlement Interval during the Delivery Term, Seller shall use best efforts to prepare and submit to MISO, by the earlier of 1400 BA Time on the third Business Day after the Day in which such MISO Settlement Interval occurs or sixty (60) minutes prior to the E4 Settlement Submission Deadline, a Financial Schedule from Seller (or its designated Market Participant) to Buyer (or its designated Market Participant) covering such MISO Settlement Interval that (i) designates Seller (or its designated Market Participant) as the selling Market Participant and Buyer (or its designated Market Participant) as the buying Market Participant, (ii) reflects, for such MISO Settlement Interval, a quantity of energy equal to the sum of (A) the amount of Contract Energy actually generated by the Facility and injected at the Injection Electric Interconnection Point (up to the Maximum Delivered Contract Energy), if any, and (B) the amount of Storage Energy actually produced by the Storage Facility that was scheduled by Buyer for delivery and injected at the Injection Electric Interconnection Point (up to the amount scheduled by Buyer for delivery), in each case, during such MISO Settlement Interval, as determined according to Section 8.2, (iii) designates the Injection Electric Interconnection Point as the Source Point (as defined in the MISO Rules), (iv) designates the Energy Financial Delivery Point as both the Internal Delivery Point and the Sink Point (as each such term is defined in the MISO Rules) andand (v) otherwise meets the requirements for an accurate, complete and valid Financial Schedule. To the extent that any information required to prepare and submit such Financial Schedule is not available to Seller (or is not final) by the xxxx Xxxxxx is required to submit such Financial Schedule according to this Section 7.8(a) (including as a result of missing information from MISO or subsequent adjustments thereto), Seller shall prepare and submit such Financial Schedule based on the best information it has at that time. In the event, despite its best efforts, Seller is unable to prepare and submit to MISO a Financial Schedule in accordance with the first sentence of this Section 7.8(a) for a MISO Settlement Interval by the E4 Settlement Submission Deadline, Seller shall (i) promptly notify Buyer by telephone to Buyer’s current day scheduling desk that it has not submitted a Financial Schedule (or modification thereof) and (ii) prepare and submit to MISO a Financial Schedule that meets the requirements of clauses (i)-(v) of the first sentence of this Section 7.8(a) as soon as possible but in no event later than six (6) hours before the MISO FinSched Deadline.
(b) If, prior to the MISO FinSched Deadline, Seller becomes aware of any error in any then-current Financial Schedule submitted by Seller to MISO pursuant to Section 7.8(a) or receives from MISO any missing information or adjustments to prior information, Seller shall, to the extent permitted by applicable Laws, submit to MISO a modification thereto correcting such error or information as promptly as practicable, but no later than the earlier of (i) thirty (30) minutes after becoming aware of such error or receiving such missing information or adjustment from MISO or (ii) the MISO FinSched Deadline, provided that no such modification shall be considered to cure a failure by Seller to submit a Financial Schedule meeting the requirements of clauses (i)-
Appears in 1 contract
Samples: Power Purchase Agreement
Financial Scheduling. For all purposes of this Agreement, the sale and delivery to Buyer at the Energy Financial Delivery Point in the Applicable Market of the Contract Energy and Storage Energy actually generated or produced by the Generating Facility and the Storage Facility, respectively, and injected at the Injection Point (up to the Maximum Delivered Contract Energy, in the case of Contract Energy, and up to the amount of Storage Energy scheduled by Buyer for delivery, in the case of Storage Energy, in each case, in each applicable MISO Settlement Interval), as well as the payment by Buyer of the amount contemplated by Section 7.3(e)(i)(A) (if applicable), shall be made as follows:
(a) For each MISO Settlement Interval during the Delivery Term, Seller shall use best efforts to prepare and submit to MISO, by the earlier of 1400 BA Time on the third Business Day after the Day in which such MISO Settlement Interval occurs or sixty (60) minutes prior to the E4 Settlement Submission Deadline, a Financial Schedule from Seller (or its designated Market Participant) to Buyer (or its designated Market Participant) covering such MISO Settlement Interval that (i) designates Seller (or its designated Market Participant) as the selling Market Participant and Buyer (or its designated Market Participant) as the buying Market Participant, (ii) reflects, for such MISO Settlement Interval, a quantity of energy equal to the sum of (A) the amount of Contract Energy actually generated by the Facility and injected at the Injection Point (up to the Maximum Delivered Contract Energy), if any, and (B) the amount of Storage Energy actually produced by the Storage Facility that was scheduled by Buyer for delivery and injected at the Injection Point (up to the amount scheduled by Buyer for delivery), in each case, during such MISO Settlement Interval, as determined according to Section 8.2, (iii) designates the Injection Point as the Source Point (as defined in the MISO Rules), (iv) designates the Energy Financial Delivery Point as both the Internal Delivery Point and the Sink Point (as each such term is defined in the MISO Rules) andand (v) otherwise meets the requirements for an accurate, complete and valid Financial Schedule. To the extent that any information required to prepare and submit such Financial Schedule is not available to Seller (or is not final) by the xxxx Xxxxxx is required to submit such Financial Schedule according to this Section 7.8(a) (including as a result of missing information from MISO or subsequent adjustments thereto), Seller shall prepare and submit such Financial Schedule based on the best information it has at that time. In the event, despite its best efforts, Seller is unable to prepare and submit to MISO a Financial Schedule in accordance with the first sentence of this Section 7.8(a) for a MISO Settlement Interval by the E4 Settlement Submission Deadline, Seller shall (i) promptly notify Buyer by telephone to Buyer’s current day scheduling desk that it has not submitted a Financial Schedule (or modification thereof) and (ii) prepare and submit to MISO a Financial Schedule that meets the requirements of clauses (i)-(v) of the first sentence of this Section 7.8(a) as soon as possible but in no event later than six (6) hours before the MISO FinSched Deadline.
(b) If, prior to the MISO FinSched Deadline, Seller becomes aware of any error in any then-current Financial Schedule submitted by Seller to MISO pursuant to Section 7.8(a) or receives from MISO any missing information or adjustments to prior information, Seller shall, to the extent permitted by applicable Laws, submit to MISO a modification thereto correcting such error or information as promptly as practicable, but no later than the earlier of (i) thirty (30) minutes after becoming aware of such error or receiving such missing information or adjustment from MISO or (ii) the MISO FinSched Deadline, provided that no such modification shall be considered to cure a failure by Seller to submit a Financial Schedule meeting the requirements of clauses (i)-
Appears in 1 contract
Samples: Power Purchase Agreement
