Interim Period Rebates. If (1) Contractor achieves Provisional Acceptance or Interim Acceptance of the Facility prior to Final Acceptance of the Facility and (2) the average net electrical output of the Facility as demonstrated by the Completed Performance Test used pursuant to Section 6.2 hereof to determine the level of achievement of the Performance Guarantees at the earlier to occur of Provisional Acceptance or Interim Acceptance (as measured and corrected to the design operating conditions, all in accordance with the procedures set forth in Appendix D hereto) is less than the Gas-based Electrical Output Guarantee (provided, however, that if

Interim Period Rebates. (a) If (1) Contractor achieves Provisional Acceptance and/or Interim Acceptance of the Facility before Final Acceptance of the Facility, and (2) the average net heat rate of the Facility as demonstrated by the Completed Performance Test used pursuant to Section 6.2 to determine the level of achievement of the Performance Guarantees at Provisional Acceptance or Interim Acceptance, as the case may be (as measured and corrected to the design operating conditions, all in accordance with the procedures set forth in Appendix D hereto) exceeds the Gas-based Heat Rate Guarantee, then Contractor shall pay to Owner, as a rebate and not a penalty and as part of the consideration for awarding the contract, for each day during the Interim Period, an amount equal to forty-four dollars ($44) per day for each BTU/Kwh by which such measured net heat rate of the Facility is greater than the Gas-based Heat Rate Guarantee. (For the avoidance of doubt, the average net heat rate to be used in calculating such daily rebate shall be (i) until the occurrence of Interim Acceptance, the average net heat rate so demonstrated at Provisional Acceptance, and (ii) upon the occurrence of Interim Acceptance and continuing until Final Acceptance, the average net heat rate so demonstrated at Interim Acceptance (or, if the Facility achieves more than one Interim Acceptance, at the most recent Interim Acceptance).)

Interim Period Rebates. If (1) Contractor achieves Provisional Acceptance of the Facility prior to Final Acceptance of the Facility (the period of time between Provisional Acceptance and Final Acceptance being referred to as the "INTERIM PERIOD") and (2) the average net electrical output of the Facility as demonstrated by the Completed Performance Test used pursuant to Section 6.3(a) hereof to determine the level of achievement of the Performance Guarantees at Provisional Acceptance (as measured and corrected to the design operating conditions, all in accordance with the procedures set forth in Appendix D hereto) is [*] than the Electrical Output Guarantee, then Contractor shall pay to Owner, as a rebate and not as a penalty and as part of the consideration for awarding the contract, for each day during the Interim Period, an amount equal to [*] for each kilowatt by which such average net electrical output (as measured during the most recent Completed Performance Test as of such day) of the Facility is [*] than such Electrical Output Guarantee (the "INTERIM PERIOD ELECTRICAL OUTPUT REBATES").

Interim Period Rebates. (a) If (1) Contractor achieves Provisional Acceptance of the Facility before Final Acceptance of the Facility, and (2) the average net heat rate of the Facility as demonstrated by the Completed Performance Test used pursuant to Section 6.3(a) to determine the level of achievement of the Performance Guarantees at Provisional Acceptance (as measured and corrected to the design operating conditions, all in accordance with the procedures set forth in Appendix D hereto) [*] the Heat Rate Guarantee, then Contractor shall pay to Owner, as a rebate and not as a penalty and as part of the consideration for awarding the contract, for each day during the Interim Period, an amount equal to [*] for each BTU/kWh by which such measured net heat rate of the Facility (as measured during the most recent Completed Performance Test as of such day) [*] the Heat Rate Guarantee (the "Interim Period Heat Rate Rebates").

Related to Interim Period Rebates

Interim Period During the Interim Period, the Seller shall cause the Company to be managed in accordance with its ordinary course of business, in accordance with Applicable Law and with past practice, so as to ensure that no act or event depending on the Company shall occur during such Interim Period which would be reasonably expected to result in a breach of the provisions of this Agreement upon their occurring prior to Closing, without prejudice and save for any transaction to be entered into or any action to be carried out pursuant to this Agreement. Unless a prior written consent is given to the Seller by the Purchaser, which consent shall not be unreasonably withheld, save for any transaction to be entered into or any action to be carried out pursuant to this Agreement, without prejudice to any different provision under this Agreement, the Seller shall procure that: (a) the Company does not issue any shares, warrants, convertible or exchangeable bonds, financial instruments or other securities or any rights relating thereto or otherwise approve or make any change in its capital structure; (b) no dividends or reserves will be declared or paid by the Company, except for an amount equal to Euro 575.000,00 (five hundred seventy-five thousand/00), pursuant to Paragraph 4.2 above; (c) except for the possible extension of the current temporary lease agreement, the Company does not sell, transfer, pledge, mortgage, lease or otherwise dispose of any assets or properties (other than inventory, products and systems sold to customers in the ordinary course of business); (d) the Company does not hire any personnel, with the exception of the hiring of personnel (a) whose hiring is in progress as of the date of this Agreement or (b) required to replace terminated employees; (e) the Company does not amend the employment agreements, collective bargaining agreements or other collective labour agreements or conventions applicable to the Company’s employees’, increase the compensation payable to the employees and the directors of the Company or grant any of them additional personal benefits, bonuses or indemnities, other than increases or benefits, bonuses or indemnities mandated by Applicable Law or by collective bargaining agreements; (f) the Company does not merge, demerge or consolidate with other companies and do not amend in any way whatsoever the by-laws; (g) the Company does not enter into any loan or other form of financing or financial facility and/or incur, assume or modify the existing indebtedness of the Company ; (h) the Company does not carry out or implement any material change in the treasury management and/or contractual payment terms to suppliers and/or by customers (including by applying discounts not in the ordinary course of business), except for any change which is more favourable to the Company; (i) the Company does not enter into factoring agreements and/or financial leases agreements; (j) the Company does not enter into any legally binding commitment with respect to any of the foregoing.
Reporting Period Project progress including a summary of progress, findings, data, analyses, results and field-test results from all tasks carried out in the covered period.
Billing Period The calendar month shall be the standard period for all charges and payments under this Agreement. On or before the fifteenth (15th) day following the end of each month, Seller shall render to Buyer an invoice for the payment obligations incurred hereunder during the preceding month, based on the Energy Delivered in the preceding month, and any RECs deposited in Buyer’s GIS account or a GIS account designated by Buyer to Seller in writing in the preceding month. Such invoice shall contain supporting detail for all charges reflected on the invoice, and Seller shall provide Buyer with additional supporting documentation and information as Buyer may request.
Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.
Xxxxx Period After payment of the first Dues, the Subscriber is entitled to a grace period of 30 days for the payment of any Dues due. During this grace period, the Agreement will remain in force. However, the Subscriber will be liable for payment of Dues accruing during the period the Agreement continues in force.
Contract Quarterly Sales Reports The Contractor shall submit complete Quarterly Sales Reports to the Department’s Contract Manager within 30 calendar days after the close of each State fiscal quarter (the State’s fiscal quarters close on September 30, December 31, March 31, and June 30). Reports must be submitted in MS Excel using the DMS Quarterly Sales Report Format, which can be accessed at xxxxx://xxx.xxx.xxxxxxxxx.xxx/business_operations/ state_purchasing/vendor_resources/quarterly_sales_report_format. Initiation and submission of the most recent version of the Quarterly Sales Report posted on the DMS website is the responsibility of the Contractor without prompting or notification from the Department’s Contract Manager. If no orders are received during the quarter, the Contractor must email the DMS Contract Manager confirming there was no activity.
Year-End Financials (A) in the case of such financial statements for Fiscal Year 2006, as soon as available by exercise of commercially reasonable efforts by Company and its Subsidiaries, (B) in the case of such financial statements for Fiscal Year 2007, as soon as available and in any event no later than the later of (x) 120 days after the end of such Fiscal Year and (y) the date on which such financial statements have been delivered for Fiscal Year 2006, and (C) in the case of such financial statements for Fiscal Year 2008 and any Fiscal Year thereafter, as soon as available and in any event within 90 days after the end of such Fiscal Year, (a) the consolidated balance sheet of Company and its Subsidiaries as at the end of such Fiscal Year and the related consolidated statements of income, stockholders’ equity and cash flows of Company and its Subsidiaries for such Fiscal Year, setting forth in each case in comparative form the corresponding figures for the previous Fiscal Year (provided that, for the purposes of such comparison only, in the case of Fiscal Year 2007, such figures shall not include purchase accounting adjustments) and the corresponding figures from the Financial Plan for the Fiscal Year covered by such financial statements, all in reasonable detail and certified by the chief financial officer of Company that they fairly present, in all material respects, the financial condition of Company and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated, (b) a written analysis or narrative report describing the operations of Company and its Subsidiaries in form reasonably satisfactory to Administrative Agent, and (c) in the case of such consolidated financial statements, a report thereon of Ernst & Young LLP or other independent certified public accountants of recognized national standing selected by Company, which report shall be unqualified, shall express no doubts, assumptions or qualifications concerning the ability of Company and its Subsidiaries to continue as a going concern, and shall state that such consolidated financial statements fairly present, in all material respects, the consolidated financial position of Company and its Subsidiaries as at the dates indicated and the results of their operations and their cash flows for the periods indicated in conformity with GAAP applied on a basis consistent with prior years (except as otherwise disclosed in such financial statements) and that the examination by such accountants in connection with such consolidated financial statements has been made in accordance with generally accepted auditing standards;
Year-end The Borrower shall procure that each financial year-end of each Obligor and each Group Member falls on the Accounting Reference Date.
Extended Reporting Period If any required insurance coverage is on a claims-made basis (rather than occurrence), Contractor shall maintain such coverage for a period of no less than three (3) years following expiration or termination of the Contract.
EI REBATE 1. The employer shall remit monthly to the BCTF Salary Indemnity Fund the proportionate share of the employment insurance premium reduction set out in the Previous Local Agreement. Where the proportionate share is not expressed in the Previous Local Agreement, the employer shall remit monthly to the BCTF Salary Indemnity Fund an amount consistent with the past practice of the local parties. The amount remitted on behalf of any employee shall not be less than 5/12 of said reduction. 2. The employer shall calculate each employee’s share of the savings which have been remitted pursuant to Article B.4.1 above and include that amount as part of the employee’s taxable income on the yearly T4 slip.

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