Minimum Annual Take Quantity Purchases Sample Clauses

Minimum Annual Take Quantity Purchases. Beginning with the Year following the Year in which the first twenty-four Months of deliveries following the Commercial Operation Date ends, and each Year thereafter during the Term of this Agreement, Buyer must take, or pay for, in each Year at least 32,881,536 MMBtus of Dedicated Lignite or Alternate Fuel when delivery of Alternate Fuel is permitted in accordance with the terms of this Agreement (“Minimum Annual Take Quantity”). Such Minimum Annual Take Quantity shall be reduced to the extent (i) Buyer is unable to take Dedicated Lignite due to an approved Scheduled Outage (as defined in the PPOA), (ii) Buyer is unable to use such quantity due to unforseen operational problems at the Facility other than Force Majeure, but in no event shall any such reduction exceed 3,288,154 MMBtus of Dedicated Lignite or Alternate Fuel per Year, (iii) Buyer is unable to use such quantity due to Force Majeure (including Force Majeure of Electric Customer as defined in the PPOA), (iv) Buyer is unable to take lignite because of Seller=s excused or unexcused failure to deliver, (v) Buyer uses gas for combustion stabilization, and (vi) Buyer uses other fuels permitted under Section 4.05(b) (up to 5% of total Btu requirements of the Facility for the Year).
Sample 1
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Minimum Annual Take Quantity Purchases. In 2021 and in each subsequent Year during the Term of this Agreement, Buyer must take, or pay for, at least 28,014,341 MMBtus of Dedicated Lignite or Alternate Fuel when delivery of Alternate Fuel is permitted in accordance with the terms of this Agreement (“Minimum Annual Take Quantity” or “MATQ”). The Minimum Annual Take Quantity shall be reduced to the extent: i. Buyer is unable to use such quantity due to Force Majeure (including Force Majeure of Electric Customer as defined in the PPOA) except that Buyer and Seller agree that no event or series of related events of less than 336 hours continuous duration will qualify for reduction as Force Majeure; ii. Buyer is unable to take lignite because of Seller’s excused or unexcused failure to deliver; iii. Buyer uses gas for combustion stabilization other than in connection with boiler start up; iv. Buyer uses other fuels permitted under Section 4.05(b) (up to 5% of total Btu requirements of the Facility per Year); and v. Buyer is unable to use such quantity because of reserve shutdown of the Facility directed in writing by Electric Customer that curtails generation by the Facility for continuous periods of time that meet or exceed 200 hours for one boiler (partial displacement), or 200 hours for both boilers (full displacement). In the event of such a Facility reserve shutdown, the MATQ shall be reduced by 35% of the MMBtus that were not generated as a result of such shutdown, calculated in accordance with Exhibit A hereto; provided that reductions under this subsection (v) shall not exceed 1,600,000 MMBtus in the aggregate in any calendar year. There shall be no reduction to the MATQ for any cause or reason except for the reductions set forth in subsections (i) – (v) above. The Parties shall use a heat rate of 10,700 Btu/kWh in performing calculations associated with the Minimum Annual Take Quantity or any reduction thereto, as reflected in the following formula that includes that heat rate: 440MW x 10.7 MMBtu/MWh, net = 4,708 MMBtu/hr. Within five days of Buyer’s receipt of a written notice or order from Electric Customer directing Buyer to commence or terminate a reserve shutdown of the Facility, Buyer shall provide a true and correct copy thereof to Seller; provided, however, that Buyer’s failure to deliver such written notice or order shall not impact the reduction set forth in subsection (v) above so long as such written notice or order is provided to Seller promptly following the commencement or term...
Sample 1

Related to Minimum Annual Take Quantity Purchases

  • 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.

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

  • 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.

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution. (b) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall also be subject to adjustment pursuant to Section 6.9.

  • 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.

  • Contract Quantity The Contract Quantity during each Contract Year is the amount set forth in the applicable Contract Year in Section D of the Cover Sheet (“Delivery Term Contract Quantity Schedule”), which amount is inclusive of outages.

  • Minimum Age (a) Members must be at least 14 years of age. (b) If you are under the age of 18 years, prior to being accepted as a Member, you must: Membership Agreement); and

  • Minimum Monthly Rent (Section 1.5): Tenant shall pay to Landlord Minimum Monthly Rent for the Premises during the Extended Term in accordance with the schedule and in the amount set forth below: 01/01/13-07/31/13 $ 1,776.25 per month $ 8,645.00 per month $ 10,421.25 per month 08/01/13-07/31/14 $ 1,827.00 per month $ 8,892.00 per month $ 10,719.00 per month 08/01/14-07/31/15 $ 1,877.75 per month $ 9,139.00 per month $ 11,016.75 per month

  • Minimum Current Ratio The Borrower will not, as of the last day of any Fiscal Quarter (commencing with the Fiscal Quarter ending June 30, 2018), permit the Current Ratio to be less than 1.00 to 1.00.

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