Mechanical Availability Sample Clauses

Mechanical Availability. Seller guarantees that the Facility shall be available to produce Renewable Energy in accordance with the provisions of Exhibit I, which includes billing provisions for non-compliance with such guaranteed availability.
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Mechanical Availability. Our customers are leading upstream and midstream companies operating in the top U.S. natural gas and oil basins. As a testament to the quality of the relationships with our top four customers, approximately 85% of the large horsepower initially contracted with such customers remains under contract. We believe that our contract structure provides strong visibility and predictability of cash flows while insulating revenues from industry and broader macroeconomic cycles. Substantially all of our revenue is derived from fixed-revenue contracts that charge a flat monthly rate with annual built-in inflation adjustments, providing us with cash flow stability as well as downside protection. Our 5-year average fleet utilization of over 99% establishes our revenue stability. Compression costs are a non-discretionary operating expense for our customers. Our business is essential to maintain natural gas and oil production and transmission and is insulated from commodity price fluctuations or drilling and completion activities. Our distinct but essential service enabled us to grow revenue and earnings during the COVID-19 pandemic despite macroeconomic volatility. The versatility of our units to support a variety of applications further enhances the stability of cash flows. Once our compression units are installed on customers’ locations, prolonged production disruptions and significant mobilization and demobilization costs, typically borne by our customers, would be required to displace our installed compression units. Our disciplined approach to deploying capital with a proven track record of achieving high returns has enabled our significant growth. We order compression units when we have a customer commitment in place. Additionally, our business model benefits from growth capital spending flexibility, which allows us to rapidly increase or decrease spending as industry conditions warrant. This flexibility was evident during the COVID-19 pandemic when we reduced equipment orders and utilized a portion of our additional cash flow to repay outstanding debt. This reduction in growth capital spending was approximately $134 million, representing a 44% reduction to our start of the year budget. Our average utilization for 2020 was 98%. We focus on strategically deploying our critical compression assets in leading onshore U.S. regions. We have 84% of our horsepower deployed in the Permian Basin and Eagle Ford Shale and a majority of the horsepower to be acquired in the Merg...
Sample 1
Mechanical Availability. 3.2.1 Commencing with the first Measurement Period and for each Measurement Period thereafter, MP’s Percentage of the Facility shall achieve a Mechanical Availability Percentage equal to or greater than [TRADE SECRET DATA EXCISED] or Seller shall pay liquidated damages as provided in Section 3.2.1(a). (a) If the Mechanical Availability Percentage for any Measurement Period is less than [TRADE SECRET DATA EXCISED] then Seller shall pay MP liquidated damages in an amount (if positive) equal to the product of (i) the Energy Deficit for such Measurement Period (expressed in MWh) and (ii) (x) the Facility generation weighted real time generator node Facility LMP over such Measurement Period at the Point of Delivery; minus (y) the price per MWh for Contract Energy for the relevant Contract Years comprising the Measurement Period (the “Availability Liquidated Damages”). Amounts payable pursuant to this Section 3.2.1(a) shall be subject to the Aggregate Damage Limitation.
Sample 1

Related to Mechanical Availability

  • System Availability Although we will try to provide continuous access to the Service, we cannot and do not guarantee that the Service will be available 100% of the time and will not be liable in the event Service is unavailable. Actual service or network performance is dependent on a variety of factors outside of our control. If you notify us within twenty-four (24) hours and we confirm an outage consisting of a period of two (2) hours in any calendar month, and not due to any service, act, or omission of you, a third party, your applications, equipment or facilities, or reasons outside of our control, you shall be eligible for a service credit. A service credit shall be computed as a pro-rated charge for one day of the regular monthly fees for the Service in the next monthly statement. Intermittent service outages for periods of less than two (2) hours are not considered service outages. Outages caused by routine scheduled maintenance are also not considered an outage. You shall receive advance notice no less than forty-eight (48) hours in advance of our scheduled maintenance. Scheduled maintenance will be performed between 12:00 a.m. and 6:00 a.m. CST.

  • General Availability The commitment to availability specified in the letter of appointment shall be subject to mutually acceptable revision. Such revision will occur once per year, or, if mutually agreed between the Employer and the employee, on a more frequent basis. The Employer will issue a revised letter of appointment to reflect approved changes to employee’s general availability.

  • Product Availability Under no circumstances shall Company be responsible to Representative or anyone else for its failure to fill accepted orders, or for its delay in filling accepted orders, when such failure or delay is due to strike, accident, labor trouble, acts of nature, freight embargo, war, civil disturbance, vendor problems or any cause beyond Company's reasonable control.

  • RDDS availability Refers to the ability of all the RDDS services for the TLD, to respond to queries from an Internet user with appropriate data from the relevant Registry System. If 51% or more of the RDDS testing probes see any of the RDDS services as unavailable during a given time, the RDDS will be considered unavailable.

  • Service Availability You understand that Service availability is at all times conditioned upon the corresponding operation and availability of the communication systems used in communicating your instructions and requests to the Credit Union. We will not be liable or have any responsibility of any kind for any loss or damage thereby incurred by you in the event of any failure or interruption of such communication systems or services resulting from the act or omission of any third party, or from any other cause not reasonably within the control of the Credit Union.

  • Minimum Availability Borrower shall have minimum availability immediately following the initial funding in the amount set forth on the Schedule.

  • High Availability Registry Operator will conduct its operations using network and geographically diverse, redundant servers (including network-­‐level redundancy, end-­‐node level redundancy and the implementation of a load balancing scheme where applicable) to ensure continued operation in the case of technical failure (widespread or local), or an extraordinary occurrence or circumstance beyond the control of the Registry Operator. Registry Operator’s emergency operations department shall be available at all times to respond to extraordinary occurrences.

  • Funds Availability For determining the availability of your deposits, every day is a business day except Saturdays, Sundays, federal holidays and legal banking holidays in the State of Utah.

  • FUNDING AVAILABILITY This Contract is contingent upon the continued availability of funding. If funds become unavailable through the lack of appropriations, legislative or executive budget cuts, amendment of the Appropriations Act, state agency consolidation or any other disruptions of current appropriations, DFPS will reduce or terminate this Contract.

  • EPP service availability Refers to the ability of the TLD EPP servers as a group, to respond to commands from the Registry accredited Registrars, who already have credentials to the servers. The response shall include appropriate data from the Registry System. An EPP command with “EPP command RTT” 5 times higher than the corresponding SLR will be considered as unanswered. If 51% or more of the EPP testing probes see the EPP service as unavailable during a given time, the EPP service will be considered unavailable.

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