Load Reduction Contingency Sample Clauses

Load Reduction Contingency. When BPA proposed that its customers all contribute to BPA’s rate reduction efforts, a number of customers and other interested stakeholders requested that BPA include a provision that ensured that any single customer would not be the only customer modifying its contract to reduce its obligation on BPA. BPA agreed to include a load reduction contingency provision that operated to terminate the customer’s obligation to BPA if certain contingencies occurred. BPA has offered to include this provision in all of its rate reduction contracts where customers are taking actions that are valued below their market value. Under the Financial Settlement Agreement, BPA’s payment to PacifiCorp will increase from $20 to $38 per MWh if any of the contingencies occur on the effective date for the particular contingency. These contingency provisions only apply to payments during the period from October 1, 2001, until September 30, 2002. Any contingencies that are effective after that date will have no effect on payments to PacifiCorp. The first contingency is whether BPA adopts the proposed rate case settlement entered into by the Joint Customer Group and BPA staff. If the Administrator elects to not adopt that settlement in his final decisions in Docket No. WP-02, the load reduction contingency occurs and the payments to PacifiCorp will increase effective October 1, 2001. Under such settlement proposal, BPA would implement a Load Based Cost Recovery Adjustment Clause (LB CRAC) that assumes that BPA will purchase from the wholesale market any remaining amounts of power needed to augment BPA’s system to serve its Subscription obligations. The second contingency is whether BPA achieves a sufficient amount of rate reduction agreements with its public agency, investor-owned utility and direct service industrial customers during the first six-month period of the LB CRAC calculation. The second contingency measures the amount of purchases BPA makes from the market in the LB CRAC calculation excluding purchases from BPA’s public agency, investor-owned utility and direct service industrial customers during the period from April 10, 2001, through the calculation of the LB CRAC in late June. If BPA does not achieve approximately 1450 aMW over the initial six-month period in reductions of market purchases, the load reduction contingency occurs and payments to PacifiCorp will increase effective on October 1. This provision assures any individual customer that they are not the only cust...
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Related to Load Reduction Contingency

  • Construction Contingency The proposed GMP Change Order shall include, as a separately identified item, a Construction Contingency sum in an initial amount (subject to increase or decrease) against which Design-Builder can draw at its election for the purposes set forth in Section 4 Part 4. The initial Construction Contingency sum shall include the contingency amounts stated in all accepted Component Change Orders.

  • Available Funds-Contingency-Termination a. The State is prohibited by law from making commitments beyond the term of the current State Fiscal Year. Payment to Local Agency beyond the current State Fiscal Year is contingent on the appropriation and continuing availability of Agreement Funds in any subsequent year (as provided in the Colorado Special Provisions). If federal funds or funds from any other non-State funds constitute all or some of the Agreement Funds, the State’s obligation to pay Local Agency shall be contingent upon such non-State funding continuing to be made available for payment. Payments to be made pursuant to this Agreement shall be made only from Agreement Funds, and the State’s liability for such payments shall be limited to the amount remaining of such Agreement Funds. If State, federal or other funds are not appropriated, or otherwise become unavailable to fund this Agreement, the State may, upon written notice, terminate this Agreement, in whole or in part, without incurring further liability. The State shall, however, remain obligated to pay for Services and Goods that are delivered and accepted prior to the effective date of notice of termination, and this termination shall otherwise be treated as if this Agreement were terminated in the public interest as described in §2.C.

  • FUNDING CONTINGENCY If Congress makes any change in law that will affect the amount of funds authorized to be paid under this Agreement, the affected provisions in this Agreement will be automatically revised to reflect such change in funding. Under no circumstance may a payment be made under this Agreement that is in excess of the amount authorized by law at the time such amount may be owed.

  • Mortgage Contingency (Delete if inapplicable) The obligations of Purchaser hereunder are conditioned upon issuance on or before , , (the “Commit- ment Date”) of a written commitment from any Institutional Lender pursuant to which such Institutional Lender agrees to make a first mortgage loan, other than a VA, FHA or other governmentally insured loan, to Purchaser, at Purchaser’s sole cost and expense, of $ or such lesser sum as Purchaser shall be willing to accept, at the prevailing fixed rate of interest not to exceed or initial adjustable rate of interest not to exceed for a term of at least years and on other customary commitment terms, whether or not conditional upon any factors other than an appraisal satisfactory to the Institutional Lender. Purchaser shall (a) make prompt application to an Institutional Lender for such mortgage loan, (b) furnish accurate and complete information regarding Purchaser and members of Purchaser’s family, as required, (c) pay all fees, points and charges required in connection with such application and loan, (d) pursue such application with diligence, (e) cooperate in good faith with such Institutional Lender to obtain such commitment and (1) promptly give Notice to Seller of the name and address of each Institutional Lender to which Purchaser has made such application. Purchaser shall comply with all requirements of such commitment (or of any other commitment accepted by Purchaser) and shall furnish Seller with a copy thereof promptly after receipt thereof. If such commitment is not issued on or before the Commitment Date, then, unless Purchaser has accepted a commitment that does not comply with the requirements set forth above, Purchaser may cancel this contract by giving Notice to Seller within 5 business days after the Commitment Date, in which case this contract shall be deemed cancelled and thereafter neither party shall have any further rights against, or obligations or liabilities to, the other by reason of this contract, except that the Downpayment shall be promptly refunded to Purchaser and except as set forth in paragraph 27. If Purchaser fails to give notice of cancellation or if Purchaser shall accept a commitment that does not comply with the terms set forth above, then Purchaser shall be deemed to have waived Purchaser’ s right to cancel this contract and to receive a refund of the Downpayment by reason of the contingency contained in this paragraph.

  • INSPECTION CONTINGENCY The obligations of the Buyer as set forth in this Agreement are contingent upon Buyer’s inspection of the Property. The Buyer shall have the right to conduct an inspection of the Property within days of the Effective Date. The choice and appointment of the inspector shall be the sole discretion of the Buyer who shall also solely bear the costs of the same. The time and date of the inspection shall be at the option of the Buyer but must be at a reasonable time and notice. In the event that upon completion of the inspection, the Buyer is not satisfied with the state of the Property, the Buyer shall notify the Seller of the unsatisfactory conditions and request the Seller to remedy the same. The Seller shall have days after receiving such notice to remedy the same. In the event that the Seller refuses to allow access to the Property to accommodate the inspection or fails to remedy the unsatisfactory conditions stated in the notice, the Buyer may, in the Buyer’s sole discretion, accept the Property as it is and proceed with the purchase under this Agreement, or terminate this Agreement and recover the Xxxxxxx Money, costs incurred in relation to this Agreement and .

  • BUDGET CONTINGENCY If the Budget Act of the current year covered under this Grant Agreement does not appropriate sufficient funds for this program, this Grant Agreement shall be of no force and effect. This provision shall be construed as a condition precedent to the obligation of the State to make any payments under this Grant Agreement. In this event, the State shall have no liability to pay any funds whatsoever to the Grantee or to furnish any other considerations under this Grant Agreement and the Grantee shall not be obligated to perform any provisions of this Grant Agreement. Nothing in this Grant Agreement shall be construed to provide the Grantee with a right of priority for payment over any other Grantee. If funding for any fiscal year after the current year covered by this Grant Agreement is reduced or deleted by the Budget Act, by Executive Order, or by order of the Department of Finance, the State shall have the option to either cancel this Grant Agreement with no liability occurring to the State, or offer a Grant Agreement amendment to the Grantee to reflect the reduced amount.

  • FINANCING CONTINGENCY The Buyer’s obligations herein are contingent on the Buyer’s obtaining financing to pay the balance on the Purchase Price. The Buyer must present to the Seller a binding commitment for financing the purchase of the Property within days from the Effective date. The terms of the financing must be acceptable to and approved by the Buyer who shall not unreasonably withhold such approval. In the event that the Buyer fails to obtain financing within the time allotted, this Agreement shall automatically terminated and all funds paid by the Buyer shall be returned to the Buyer after deducting all reasonable costs incurred by the Seller in good faith in relation this Agreement.

  • Contingency Fee Contractor represents that it has not paid or agreed to pay any person or entity, other than a bona fide employee working solely for Contractor, any fee, commission, percentage, gift, or other consideration contingent upon or resulting from the award or making of this Agreement.

  • Overage At any time during the subscription term set forth in an Order, if Customer usage exceeds its License Level (“Overage”), Customer will correct the Overage by purchasing additional licenses within thirty (30) days of the Overage. If Customer does not purchase licenses for the Overage within such thirty (30) day period, Flexera may suspend Customer’s use of the SaaS by providing fifteen (15) days prior notice. Customer agrees (i) that Flexera may access to view Customer’s instance(s) of the SaaS and (ii) to provide Flexera with all information reasonably required for the purpose of verifying Customer’s compliance with the License Level, which may be in the form of a formal certification.

  • No Financing Contingency Purchaser understands and agrees that this Agreement is not contingent upon Purchaser obtaining financing for Closing. Purchaser shall be solely responsible for making Purchaser’s own financial arrangements to enable Purchaser to pay Seller for the Unit and Purchaser acknowledges that the satisfaction of any condition imposed by a lender is solely at Purchaser’s risk, including, without limitation, the risk of any downward fluctuation in the value of the Unit.

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