Guaranteed Heat Rate Sample Clauses

Guaranteed Heat Rate. (i) Seller shall guarantee each Unit’s Heat Rate over the following range of dispatchable operational levels at the mean Site elevation at standard ISO Conditions (59º F, 60% relative humidity) and Peak July Conditions: at Peak Load; at 100% of Base Load on the combustion turbine(s); at 75% of Base Load on the combustion turbine(s); at 50% of Base Load on the combustion turbine(s); and if applicable at minimum load on the combustion turbine(s), if less than 50%. [Note: The concept of Single Unit Operation and Dual Unit Operation, and the curve shape below that takes into consideration duct-fire operations as well as operations without duct firing, is particular to combined cycle technology. Modifications will be made for other technologies.] For purposes of scheduling the output of the plant, Seller shall provide the Guaranteed Heat Rate Curve from minimum load to Peak Load based on the Guaranteed Heat Rate Points found in Appendix II and the best fit mathematical curve fit equations for each curve or curve segment, at the ISO Conditions for Single Unit Operation and Dual Unit Operation and shall provide no later than 12 months prior to the Initial Delivery Date (i) the correction curves to correct for changes in ambient dry bulb temperature from the ISO Condition, (ii) the correction curves to correct for ambient relative humidity from the ISO Condition, and (iii) the correction curves to correct for ambient barometric pressure from the Site ISO Condition (collectively with the Guaranteed Heat Rate Curve, the “Guaranteed Heat Rate Curves”), which will be deemed incorporated into Appendix II when provided. The Guaranteed Heat Rate Curves shall consist of two curve segments, (a) the Unfired Guaranteed Heat Rate curves for operations between minimum load and Base Load, and (b) the Duct-Fired Guaranteed Heat Rate curves from Base Load to Peak Load. The curve fit equations will be used for determination of all Guaranteed Heat Rates, with graphical format provided for information purposes only. (ii) The Unfired Guaranteed Heat Rates curves for Single Unit Operation and Dual Unit Operation without duct firing shall be a subset of the Guaranteed Heat Rate Curves and calculated using the mathematical curve fit equations for each level of Unit output as a function of the ratio of Unit output to Unit Capacity. The equations will be applicable for ratios based on both Initial Base Capacity as defined in 4.2(b)(i) and Tested Base Capacity as defined in 4.2(b)(ii). (ii...
Sample 1Sample 2Sample 3See All (8)
Guaranteed Heat Rate. The Guaranteed Heat Rate of the Project at Contract Capacity is [__________] Btu per kWh (HHV) at the Contract Conditions, when tested in accordance with the procedures set forth in Appendix 7. The results of the most recent test shall determine the Heat Rate until the next test is performed in accordance herewith. The “Heat Rate Percentage” for the Project shall be the Heat Rate of the Project divided by the Guaranteed Heat Rate, expressed as a percentage. The Heat Rate Percentage will remain in effect until another Heat Rate for the Project is established through a Heat Rate test described above. If the Heat Rate Percentage of the Project during a month of the Delivery Period is lower than 98% or higher than102%, the Monthly Capacity Payment payable in respect of such month shall be adjusted as set forth in Appendix 9.2 by the resultant Heat Rate Payment for such month, which shall be calculated as follows: HRP = (GHR ‑ THR) x DE x ICF Where: HRP is the Heat Rate Payment for such month in respect of the Project. GHR is the Guaranteed Heat Rate of the Project. THR is Test Heat Rate during such month for the Project at the Contract Capacity determined in accordance with Appendix 7. DE is Delivered Energy during such month. ICF is Indexed Cost of Fuel per Btu during such month which shall be (a) if GHR is greater than THR, the Gas Index, or (b) if THR is greater than GHR, the sum of the Gas Index and the Transport Cost. A positive value for the Heat Rate Payment represents a payment to be made from Buyer to Seller, and a negative value represents a payment to be made from Seller to Buyer. If, for any reason, the Gas Index ceases to be published, or either Party reasonably believes that the Gas Index is substantially changed so that it does not adequately reflect the aggregate market price of gas at various receipt points on the Buyer system, then either Party may provide the other with Notice to such effect and the Parties shall negotiate in good faith to determine an alternative method or methods for determining the Gas Index in order to maintain the balance of economic benefits and burdens that the Parties agreed to with respect to the Gas Index as of the “Effective Date”. Any substitute index or indices must be recognized in the industry as a measure of aggregate daily prices for gas delivered to the various receipt points on the Buyer system. If the Parties are unable to agree on a successor market, index or methodology within thirty (30) days of the da...
Sample 1Sample 2Sample 3
Guaranteed Heat Rate. “GHR”) 1. The Guaranteed Heat Rate (“GHR”) for the Unit is 13,500 Btu/kWh (HHV) (higher heating value or “HHV”). 2. Each month Seller will perform a comparison of the Actual Heat Rate (“AHR”) for the Unit against the GHR, as follows: (a) For every month, Seller will measure the Actual Heat Rate (“AHR”) for the Unit for all hours in which the following three conditions are satisfied (“AHR Hours”): (i) a Physical Energy Schedule from the Unit was scheduled by Buyer, (ii) Seller delivered the full Final Physical Energy Schedule for the Unit to Buyer and (iii) the Unit operated at steady-state and at full load (including minor variations in output due to changes in ambient conditions, but not including ramping up or down or planned or unplanned discontinuation of operations). Such monthly AHR will be measured in Btu/kWh (HHV) using the sum of the Designated Hourly Fuel Consumption for each AHR Hour of the month divided by the sum of the Final Physical Energy Schedules for each such hour of the month. The “Designated Hourly Fuel Consumption” for the Unit in any hour is the product of (i) the sum of any Final Physical Energy Schedule for that hour plus any energy generated in response to a Buyer dispatch instruction, divided by Unadjusted Metered Energy for that hour, multiplied by (ii) actual fuel consumption of the Unit for such hour as measured by the Gas Metering Equipment. The GHR for the Delivery Month and the AHR for the Delivery Month will be used to determine the Billing Heat Rate for the monthly Energy Price in that Delivery Month as set forth in Section H above. 3. The Operations Committee shall evaluate, and may recommend to the Parties, procedures to provide additional incentives to Seller to maintain low actual heat rate for the Unit.
Sample 1
Guaranteed Heat Rate. The fuel consumed for each Dedicated Unit shall be measured against the Guaranteed Heat Rate pursuant to Appendix H.
Sample 1
Guaranteed Heat Rate. The Guaranteed Heat Rate for each Dedicated Unit during each hour of the Month shall be determined according to this Appendix H based upon the energy requested pursuant to a Dispatch order and not the actual output of such Dedicated Unit. (a) The Guaranteed Heat Rate for each Dedicated Unit during any hour when the energy Dispatched from such Dedicated Unit is less than or equal to the Standard Capacity of such Dedicated Unit during the hour shall be taken from Table 1. The Guaranteed Heat Rate shall be read from Column B based on the energy Dispatched from such Dedicated Unit during the hour divided by the Standard Capacity of such Dedicated Unit during the hour. Table 1 - Guaranteed Heat Rate Column A Column B Energy Dispatched as a Percent of Standard Guaranteed Heat Capacity Rate (BTU/KWh HHV) -------------------------------------------------------------------------------- 70% 7770 71% 7740 72% 7700 73% 7670 74% 7630 75% 7600 76% 7560 77% 7530 78% 7490 79% 7460 80% 7420 81% 7400 -------------------------------------------------------------------------------- Appendix H to PPA Table 1 - Guaranteed Heat Rate Column A Column B Energy Dispatched as a Percent of Standard Guaranteed Heat Capacity Rate (BTU/KWh HHV) -------------------------------------------------------------------------------- 82% 7380 83% 7360 84% 7340 85% 7320 86% 7290 87% 7270 88% 7250 89% 7230 90% 7210 91% 7190 92% 7170 93% 7150 94% 7130 95% 7110 96% 7080 97% 7060 98% 7040 99% 7020 100% 7000 -------------------------------------------------------------------------------- (b) The Guaranteed Heat Rate for each Dedicated Unit during any hour when the energy Dispatched from such Dedicated Unit is greater than the Standard Capacity of such Dedicated Unit shall be determined from the following formula: Guaranteed Heat Rate = (EFL*7,000 BTU/KWh + EAFL*9,500 BTU/KWh) / (EFL + EAFL) Appendix H to PPA where: EFL is the amount of energy in KWh Dispatched up to the Standard Capacity of a Dedicated Unit during the hour; and EAFL is the amount of energy in KWh Dispatched above the Standard Capacity of the Dedicated Unit during the hour. Appendix H to PPA
Sample 1

Related to Guaranteed Heat Rate

  • Guaranteed Indebtedness No Credit Party shall create, incur, assume or permit to exist any Guaranteed Indebtedness except (a) by endorsement of instruments or items of payment for deposit to the general account of any Credit Party, and (b) for Guaranteed Indebtedness incurred for the benefit of any other Credit Party if the primary obligation is expressly permitted by this Agreement.

  • Limitation on Guaranteed Obligations Each Guarantor and each Secured Creditor (by its acceptance of the benefits of this Guaranty) hereby confirms that it is its intention that this Guaranty not constitute a fraudulent transfer or conveyance for purposes of the Bankruptcy Code, the Uniform Fraudulent Conveyance Act of any similar Federal or state law. To effectuate the foregoing intention, each Guarantor and each Secured Creditor (by its acceptance of the benefits of this Guaranty) hereby irrevocably agrees that the Guaranteed Obligations guaranteed by such Guarantor shall be limited to such amount as will, after giving effect to such maximum amount and all other (contingent or otherwise) liabilities of such Guarantor that are relevant under such laws and after giving effect to any rights to contribution pursuant to any agreement providing for an equitable contribution among such Guarantor and the other Guarantors, result in the Guaranteed Obligations of such Guarantor in respect of such maximum amount not constituting a fraudulent transfer or conveyance.

  • Payment and Performance Bonds A payment bond and performance is required for a public works contract involving expenditure in excess of twenty-five thousand dollars ($25,000) and no work can be commenced prior to both bonds being approved the County. The Contractor shall furnish, at time of signing the Contract, one surety bond which shall protect the laborers and material men and shall be for $60,000, in accordance with Section 9554 of the Civil Code, and one surety bond in the amount of $60,000, guaranteeing the faithful performance of the Contract. If at any time the value of the total task orders is expected to exceed $60,000, the Contractor shall furnish, in a manner acceptable to the County, evidence that the Contractor is bonded to the expected total value of outstanding task orders for both the faithful performance and laborers and material men bonds. Contractor shall not be entitled to, nor shall County authorize, task orders when the total outstanding value of the task orders under this contract exceeds the bond values for which the County is an obligee. Said bonds to be approved by the office of the County Counsel and the County Executive Office of Orange County. Such bonds shall be the forms provided in these specifications and issued and executed by an admitted surety insurer (authorized to transact surety insurance in California). (e.g., if the bonds are issued through a surplus line broker, both the surplus line broker and the insurer with whom he is doing business for purposes of this project must be licensed in California to issue such bonds.) The faithful performance bond shall be issued by a Surety company with a minimum insurance rating of A- (Secure Best’s Rating) and VIII (Financial Size Category) as determined by the most current edition of the Best’s Key Rating Guide/Property-Casualty/United States or xxxxxx.xxx. The Surety Company must also be authorized to write in California by the Department of the Treasury, and must be listed on the most current edition of the Department of Treasury’s Listing of Approved Securities. If any surety upon any bond furnished in connection with this Contract becomes unacceptable to the County, or if any such surety fails to furnish reports as to his financial condition from time to time as requested by OC Public Works, the Contractor shall promptly furnish such additional security as may be required by OC Public Works or the Board of Supervisors from time to time to protect the interests of the County and of persons supplying labor or materials in the prosecution of the Work contemplated by this Contract. If the County increases the total Contract amount the Contractor is to provide a new bond for the new total Contract amount or a bond for the difference.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • Payment and Performance Bond Prior to the execution of this Contract, City may require Contractor to post a payment and performance bond (Bond). The Bond shall guarantee Contractor’s faithful performance of this Contract and assure payment to contractors, subcontractors, and to persons furnishing goods and/or services under this Contract.

  • Guaranteed Maximum Price The total monies payable to Developer under the terms and conditions of the Contract Documents.

  • Guaranteed Obligations The Guarantor, in consideration of the execution and delivery of the Note Purchase Agreement and the purchase of the Notes by the Purchasers, hereby irrevocably, unconditionally and absolutely guarantees, on a continuing basis, to each Noteholder as and for the Guarantor’s own debt, until final and indefeasible payment of the amounts referred to in clause (a) below has been made: (a) the due and punctual payment by the Company of the principal of, and the Make-Whole Amount (if any) and interest on, the Notes at any time outstanding and the due and punctual payment of all other amounts payable, and all other Indebtedness owing, by the Company to the Noteholders under the Note Purchase Agreement and the Notes (including, without limitation, any monetary obligations incurred during the pendency of any bankruptcy, insolvency, winding-up, receivership or other similar proceeding regardless of whether allowed or allowable in such proceeding including, without limitation, interest accrued on the Notes during any such proceeding), in each case when and as the same shall become due and payable, whether at maturity, pursuant to mandatory or optional prepayment, by acceleration or otherwise, all in accordance with the terms and provisions hereof and thereof; it being the intent of the Guarantor that the guarantee set forth herein shall be a continuing guarantee of payment and not a guarantee of collection; and (b) the punctual and faithful performance, keeping, observance, and fulfillment by the Company of all duties, agreements, covenants and obligations of the Company contained in the Note Purchase Agreement and the Notes. All of the obligations set forth in clause (a) and clause (b) of this Section 2.1 are referred to herein as the “Guaranteed Obligations.”

  • Obligations Guaranteed Subject to the provisions of this Article 2, the Guarantor hereby unconditionally guarantees (a) to each Holder of a Security authenticated and delivered by the Trustee or Authenticating Agent, (i) the full and prompt payment of the principal of, and premium, if any, and interest on, and any Redemption Price with respect to, such Security, when, where and as the same shall become due and payable, whether at the stated maturity thereof, by acceleration, call for redemption or otherwise in accordance with the terms of such Security and the Indenture and (ii) the full and prompt payment of interest on the overdue principal and interest, if any, on such Security, at the rate specified in such Security and to the extent lawful and (b) to the Trustee the full and prompt payment upon written demand therefor of all amounts due to it in accordance with the terms of the Indenture (collectively the “Guaranteed Obligation”). If for any reason the Company shall fail punctually to pay any such Guaranteed Obligation, the Guarantor hereby agrees to cause any such Guaranteed Obligation to be made punctually when, where and as the same shall become due and payable, whether at the stated maturity thereof, by acceleration, call for redemption or otherwise. All payments by the Guarantor hereunder shall be paid in lawful money of the United States of America. This Guarantee is unsecured and ranks equally in right of payment with all of the Guarantor’s existing and future senior indebtedness.

  • Insured or Guaranteed Loans If any Loans being transferred pursuant to this Agreement, including the Shared-Loss Agreements, are insured or guaranteed by any department or agency of any governmental unit, federal, state or local, Assuming Institution represents that Assuming Institution has been approved by such agency and is an approved lender or mortgagee, as appropriate, if such approval is required. Assuming Institution further assumes full responsibility for determining whether or not such insurance or guarantees are in full force and effect on the date of this Agreement and with respect to those Loans whose insurance or guaranty is in full force and effect on the date of this Agreement, Assuming Institution assumes full responsibility for doing all things necessary to insure such insurance or guarantees remain in full force and effect. Assuming Institution agrees to assume all of the obligations under the contract(s) of insurance or guaranty, agrees to cooperate with the Receiver where necessary to complete forms required by the insuring or guaranteeing department or agency to effect or complete the transfer to Assuming Institution.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!