Minimum Annual Energy Sample Clauses

Minimum Annual Energy. (a) Beginning on the Commercial Operation Date and continuing through the end of the Term, for each Contract Year, Seller shall use Commercially Reasonable Efforts to deliver the Minimum Annual Energy to the MISO wholesale energy market. (b) For any period during which Seller is unable to deliver Net Energy due to Force Majeure or a System Emergency, for the purpose of determining the delivery of the Mininimum Annual Energy, Seller will be deemed to have been delivering Net Energy at a rate equivalent to the Monthly average of the Net Energy deliveries that occur during the Contract Month immediately following the Contract Month in which the condition preventing Seller from delivering Net Energy concludes. (c) Beginning in the third Contract Year and continuing through the end of the Term, if Seller fails to deliver the Minimum Annual Energy for 2 consecutive Contract Years, then Seller shall determine the amount by which the sum of Minimum Annual Energy for those 2 Contract Years exceeds the sum of the Net Energy actually delivered in those 2 Contract Years, and that difference will be the “Minimum Energy Shortfall” applicable to the 2 Contract Years. Seller may remedy the Minimum Energy Shortfall by delivering, at any time during the following 2 Contract Years, Net Energy in a total amount that exceeds the Minimum Annual Energy for the applicable Contract Year, by crediting against the Minimum Energy Shortfall the excess of Net Energy delivered in the Contract Year above the Minimum Annual Energy for that Contract Year. (d) If Seller fails to fully remedy a Minimum Energy Shortfall as provided in section 6.4(c) by the end of the second Contract Year following the 2 Contract Years for which there was an unremedied Minimum Energy Shortfall, then for that Contract Year and the subsequent Contract Year, Buyer may reduce each Contract Month’s Initial Settlement Payment to Seller as determined in accordance with section 6.4(c) (such reduction is referred to herein as “Shortfall Damages Payment”); except that payments under this agreement will not be reduced under this section 6.4(d) in any Contract Year in excess of the amount of the Annual Damages Cap, and payments under this agreement will not be reduced under this section 6.4(d) if the Total Damages Cap for the Term has been reached.
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Minimum Annual Energy. ‌ (a) for each MH Minimum Annual Energy Decrement Event that occurs during the applicable Contract Year, that MH has determined it will exercise its right to decrement the Minimum Annual Energy Amount, by the amount determined from multiplying: (i) the duration (in hours) of the applicable MH Minimum Annual Energy Decrement Event; and (ii) [TRADE SECRET DATA EXCISED]; (b) for each Transmission Minimum Annual Energy Decrement Event that occurs during the applicable Contract Year, by the amount determined from multiplying: (i) the duration (in hours) of the Transmission Minimum Annual Energy Decrement Event; and (ii) [TRADE SECRET DATA EXCISED]; and (c) for each MP Minimum Annual Energy Decrement Event that occurs during the applicable Contract Year, by the amount determined from multiplying (i) the duration (in hours) of the MP Minimum Annual Energy Decrement Event; and
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Related to Minimum Annual Energy

  • Minimum Annual Royalty Beginning in the calendar year after the first occurrence of SALEs, and in each succeeding calendar year thereafter, LICENSEE will pay to REGENTS a minimum annual royalty of [Written amount] U.S. Dollars ($ Number) for the life of this AGREEMENT. This minimum annual royalty will be paid to REGENTS by February 28 of each year and will be credited against the earned royalty due and owing for the calendar year in which the minimum payment is made.

  • Minimum Annual Royalties Company shall pay to JHU minimum annual royalties as set forth in Exhibit A. These minimum annual royalties shall be due, without invoice from JHU, within thirty (30) days of each anniversary of the EFFECTIVE DATE beginning with the first anniversary. Running royalties and sublicense consideration accrued under Paragraphs 3.3 and 3.4, respectively, and paid to JHU during the one year period preceding an anniversary of the EFFECTIVE DATE shall be credited against the minimum annual royalties due on that anniversary date.

  • Minimum Annual Rent Tenant agrees to pay to Landlord the Minimum Annual Rent in equal monthly installments in the amount set forth in Section 1(d) (as increased at the beginning of each lease year as set forth in Section 1(d)), in advance, on the first day of each calendar month during the Term, without notice, demand or setoff, at Landlord's address designated at the beginning of this lease unless Landlord designates otherwise; provided that rent for the first full month shall be paid at the signing of this lease. If the Commencement Date falls on a day other than the first day of a calendar month, the rent shall be apportioned pro rata on a per diem basis for the period from the Commencement Date until the first day of the following calendar month and shall be paid on or before the Commencement Date. As used in this lease, the term "LEASE YEAR" means the period from the Commencement Date through the succeeding 12 full calendar months (including for the first lease year any partial month from the Commencement Date until the first day of the first full calendar month) and each successive 12 month period thereafter during the Term.

  • Average Annual Compensation The Executive's "Average Annual Compensation" for purposes of this Agreement shall be deemed to mean the average level of compensation paid to the Executive by the Employers or any subsidiary thereof during the most recent five taxable years preceding the Date of Termination, including Base Salary and benefits and bonuses under any employee benefit plans of the Employers.

  • Maximum Annual Operating Expense Limit The Maximum Annual Operating Expense Limit with respect to each Fund shall be the amount specified in Schedule A based on a percentage of the average daily net assets of each Fund.

  • Base Annual Salary “Base Annual Salary” means the greater of (1) the highest annual rate of base salary in effect for the Executive during the 12 month period immediately prior to a Change in Control or, (2) the annual rate of base salary in effect at the time Notice of Termination is given (or on the date employment is terminated if no Notice of Termination is required).

  • Contract Duration and Annual Salary 1. The College hereby employs the Administrator in the capacity of Director - Marketing Services, Associate Professor for one year, commencing on July 1, 2024 and terminating on June 30, 2025. The Administrator accepts such employment on the conditions hereinafter set forth, and any applicable provisions of the Board of Trustees Policy Manual. In the event of conflict between Board Policy and this Contract, the Contract shall govern. 2. For the 2024-2025 contract year, the Administrator shall receive an annual salary of $178,054.00 subject to applicable deductions, to be paid in bi-weekly installments as full compensation for all rights granted and service performed under this Contract.

  • Contract Year A twelve (12) month period during the term of the Agreement commencing on the Effective Date and each anniversary thereof.

  • Subject to Annual Appropriation Consistent with Article X, § 20 of the Colorado Constitution, any financial obligation of the Town not performed during the current fiscal year is subject to annual appropriation, shall extend only to monies currently appropriated, and shall not constitute a mandatory charge, requirement, debt or liability beyond the current fiscal year.

  • ALTERNATE SCHOOL CALENDAR 1. In this article, an alternative school calendar is a school calendar that differs from the standard school calendar as specified in Schedule 1 (Supplement) of the School Calendar Regulation 114/02. 2. When a school district intends to implement an alternate school calendar, written notification shall be provided to the local no later than forty (40) working days prior to its implementation. The employer and the local shall meet within five (5) working days following receipt of such notice to negotiate modifications to the provisions of the agreement that are directly or indirectly affected by the proposed change(s). The aforesaid modifications shall preserve, to the full legal extent possible, the original intent of the agreement. 3. The process outlined below in Article D.6.4 through Article D.

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