Minimum Guaranteed Output Sample Clauses

Minimum Guaranteed Output. If the System fails to generate at least ninety-five percent (95%) of the Estimated Annual Production for a full Term Year (such amount, the “Minimum Guaranteed Output”), other than as a result of the acts or omissions of Purchaser or the Local Electric Utility (including a Disruption Period), or an Event of Force Majeure, Provider shall credit Purchaser an amount equal to Purchaser’s Lost Savings on the next invoice or invoices during the following Term Year. The formula for calculating Lost Savings for the applicable Term Year is as follows: Lost Savings = (MGO*WPR - AE) x RV MGO = Minimum Guaranteed Output, as measured in total kWh, for the System for the applicable Term Year. WPR = Weather Performance Ratio, measured as the ratio of the actual insolation over typical (pro- forma) insolation. Such Weather Performance Ratio shall only apply if the ratio is less than 1.00. AE = Actual Electricity, as measured in total kWh, delivered by the System for the Term Year plus the estimated lost energy production during a Disruption Period. RV = (ATP - kWh Rate) ATP = Average tariff price, measured in $/kWh, for the Term Year paid by Purchaser with respect to the Premises. This price is determined by dividing the total cost for delivered electricity, including all charges associated with such electricity howsoever named, including, without limitation, charges for distribution, transmission, demand, and systems benefits, paid to the Local Electric Utility during the applicable Term Year by the total amount of delivered electricity by the electric utility during such Term Year. kWh Rate = the kWh Rate in effect for the applicable Term Year(s), measured in $/kWh. If the RV is zero or less, then no Lost Savings payment is due to Purchaser. Any Lost Savings payment shall occur no later than sixty (60) days after the end of the Term Year during which such Lost Savings occurred.
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Minimum Guaranteed Output. If the System fails to generate at least ninety percent (90%) of the Estimated Annual Production set forth in Schedule 4 of the Special Conditions with respect to the System for a full Contract Year (such amount, the “Minimum Guaranteed Output”), other than as a result of the acts or omissions of Purchaser (including, without limitation, pursuant to Section 4.3) or the Local Electric Utility, or an Event of Force Majeure, Provider shall credit Purchaser an amount equal to Purchaser’s “Lost Savings” on the next invoice or invoices, (as defined herein) during the following Contract Year. The formula for calculating Lost Savings for the applicable Contract Year is as follows: WPR = Weather Performance Ratio, measured as the ratio of the actual insolation over typical (pro-forma) insolation. Such Weather Performance Ratio shall only apply if the ratio is less than 1.00. If the rate variance (“RV”) is zero or less, then no Lost Savings payment is due to Purchaser. Such payment shall occur no later than sixty (60) days after the end of the Contract Year during which such Lost Savings occurred.
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Minimum Guaranteed Output. If the System fails to generate at least ninety percent (90%) of the Estimated Annual Production set forth in Schedule 4 of the Special Conditions with respect to the System for a full Contract Year (such amount, the “Minimum Guaranteed Output”), other than as a result of the acts or omissions of Purchaser (including, without limitation, pursuant to Section 4.3) or the Local Electric Utility, or an Event of Force Majeure, Provider shall credit Purchaser an amount equal to Purchaser’s “Lost Savings” on the next invoice or invoices, (as defined herein) during the following Contract Year. The formula for calculating Lost Savings for the applicable Contract Year is as follows:
Sample 1Sample 2Sample 3See All (4)
Minimum Guaranteed Output. If the System fails to generate at least ninety percent (90%) of the Estimated Annual Production for one (1) full Term Year (such amount, the “Minimum Guaranteed Output”, and such one-year period, the “One-Year Period”, beginning with Term Year 1, and each one-year period thereafter), other than as a result of acts or omissions of Purchaser or the Local Electric Utility, or an Event of Force Majeure, Provider shall credit Purchaser an amount equal to Purchaser’s Lost Savings (as calculated below) on the next invoice or invoices issued during the immediately succeeding One-Year Period, up to the Lost Savings Cap (as defined herein) during any One-Year Period. Provided, however, that if the Actual Electricity exceeds the Minimum Guaranteed Output during any One-Year Period, such production shall accrue and roll over to apply to any subsequent One-Year Period(s). Further, Provider shall be entitled to consider any System production generated prior to the Commercial Operation Date as Actual Electricity for purposes of the calculation set forth below. The formula for calculating Lost Savings for the applicable One- Year Period is as follows: Lost Savings = (MGO *WPR – AE) x RV MGO = Minimum Guaranteed Output, as measured in total kWh, for System for the applicable One-Year Period. WPR = Weather Performance Ratio, measured as the ratio of the actual insolation over typical (pro-forma) insolation. Such Weather Performance Ratio shall only apply if the ratio is less than 1.00. AE = Actual Electricity, as measured in total kWh, delivered by the System for the One-Year Period. RV = (ATP – kWh Rate) ATP = Average tariff price, measured in $/kWh, for the applicable One-Year Period paid by Purchaser with respect to the Premises. This price is determined by dividing the total cost for delivered electricity, including all charges associated with such electricity howsoever named, including, without limitation, charges for distribution, transmission, demand, and systems benefits, paid to the Local Electric Utility during the applicable One-Year Period by the total amount of delivered electricity by the Local Electric Utility during such One-Year Period. kWh Rate = the kWh Rate in effect for the applicable One-Year Period, measured in $/kWh. Lost Savings Cap = System size (DC) as installed in megawatts, multiplied by $40,000. For the avoidance of doubt, the Lost Savings Cap is applicable to each One-Year Period. If the RV is zero or less, then no Lost Savings payment shall ...
Sample 1
Minimum Guaranteed Output. If the System fails to generate at least ninety-five percent (95%) of the Estimated Annual Production for a full Term Year (such amount, the “Minimum Guaranteed Output”), other than as a result of the acts or omissions of Purchaser or the Local Electric Utility (including a Disruption Period), or an Event of Force Majeure, ForeFront Power shall credit due from the Purchaser pursuant to Schedule 2 of this Agreement an amount equal to Purchaser’s Lost Savings until the Lost Savings credit is exhausted. The formula for calculating Lost Savings for the applicable Term Year is as follows: LOST SAVINGS = (MGO*WPR - AE) X RV MGO = MINIMUM GUARANTEED OUTPUT, AS MEASURED IN TOTAL KWH, FOR THE SYSTEM FOR THE APPLICABLE TERM YEAR. WPR = WEATHER PERFORMANCE RATIO, MEASURED AS THE RATIO OF THE ACTUAL INSOLATION OVER TYPICAL (PRO-FORMA) INSOLATION. SUCH WEATHER PERFORMANCE RATIO SHALL ONLY APPLY IF THE RATIO IS LESS THAN 1.00. AE = ACTUAL ELECTRICITY, AS MEASURED IN TOTAL KWH, DELIVERED BY THE SYSTEM FOR THE TERM YEAR PLUS THE ESTIMATED LOST ENERGY PRODUCTION DURING A DISRUPTION PERIOD. RV = (ATP - KWH RATE) ATP = AVERAGE TARIFF PRICE, MEASURED IN $/KWH, FOR THE TERM YEAR PAID BY PURCHASER WITH RESPECT TO THE PREMISES. THIS PRICE IS DETERMINED BY DIVIDING THE TOTAL COST FOR DELIVERED ELECTRICITY, INCLUDING ALL CHARGES ASSOCIATED WITH SUCH ELECTRICITY HOWSOEVER NAMED, INCLUDING, WITHOUT LIMITATION, CHARGES FOR DISTRIBUTION, TRANSMISSION, DEMAND, AND SYSTEMS BENEFITS, PAID TO THE LOCAL ELECTRIC UTILITY DURING THE APPLICABLE TERM YEAR BY THE TOTAL AMOUNT OF DELIVERED ELECTRICITY BY THE ELECTRIC UTILITY DURING SUCH TERM YEAR. KWH RATE = THE KWH RATE IN EFFECT FOR THE APPLICABLE TERM YEAR(S), MEASURED IN $/KWH. IF THE RV IS ZERO OR LESS, THEN NO LOST SAVINGS CREDIT IS DUE TO PURCHASER. ANY LOST SAVINGS CREDIT SHALL OCCUR NO LATER THAN SIXTY (60) DAYS AFTER THE END OF THE TERM YEAR DURING WHICH SUCH LOST SAVINGS OCCURRED.
Sample 1
Minimum Guaranteed Output. If the System fails to generate at least ninety-five percent (95%) of the Estimated Annual Production for a full Term Year (such amount, the “Minimum Guaranteed Output”), other than as a result of the acts or omissions of Purchaser or the Local Electric Utility (including a Disruption Period), or an Event of Force Majeure, ForeFront Power shall credit Purchaser an amount equal to Purchaser’s Lost Savings on the next invoice or invoices during the following Term Year. Estimated Annual Production shall be based on as-built production modeling for each System developed by Forefront Power and reasonably approved by the Purchaser. The formula for calculating Lost Savings for the applicable Term Year is as follows: Lost Savings = (MGO*WPR - AE) x RV MGO = Minimum Guaranteed Output (shown in Schedule 4), as measured in total kWh, for the System for the applicable Term Year. WPR = Weather Performance Ratio, measured as the ratio of the actual insolation over typical (pro-forma) insolation. Such Weather Performance Ratio shall only apply if the ratio is less than 1.00. Weather data for each Site shall be based on the following: Moorpark College: 34_35_-118_85_SolarAnywhere_CPR3.2-TMY AE = Actual Electricity, as measured in total kWh, delivered by the System for the Term Year plus the estimated lost energy production during a Disruption Period. RV = (ATP - kWh Rate) ATP = Average tariff price, measured in $/kWh, for the Term Year paid by Purchaser with respect to the Premises. This price is determined by dividing the total cost for delivered electricity, including all charges associated with such electricity howsoever named, including, without limitation, charges for distribution, transmission, demand, and systems benefits, paid to the Local Electric Utility during the applicable Term Year by the total amount of delivered electricity by the electric utility during such Term Year. kWh Rate = the kWh Rate in effect for the applicable Term Year(s), measured in $/kWh. If the RV is zero or less, then no Lost Savings payment is due to Purchaser. Any Lost Savings payment shall occur no later than sixty (60) days after the end of the Term Year during which such Lost Savings occurred.
Sample 1

Related to Minimum Guaranteed Output

  • Guaranteed Maximum Price The total monies payable to Developer under the terms and conditions of the Contract Documents.

  • Guaranteed Maximum Costs The City’s payment obligation to Contractor cannot at any time exceed the amount certified by City’s Controller for the purpose and period stated in such certification. Absent an authorized Emergency per the City Charter or applicable Code, no City representative is authorized to offer or promise, nor is the City required to honor, any offered or promised payments to Contractor under this Agreement in excess of the certified maximum amount without the Controller having first certified the additional promised amount and the Parties having modified this Agreement as provided in Section 11.5, “Modification of this Agreement.”

  • Guaranteed Maximum Price (GMP Construction Manager guarantees that it shall not exceed a Guaranteed Maximum Price (GMP) of Four Hundred Eighteen Thousand, Six Hundred Eighty-Six Dollars and Eighteen Cents ($418,686.18) for the identified Sub-Project.

  • Prior Payment of Guaranteed Obligations In any proceeding under any Bankruptcy Law relating to any other Loan Party, each Guarantor agrees that the Secured Parties shall be entitled to receive payment in full in cash of all Guaranteed Obligations (including all interest and expenses accruing after the commencement of a proceeding under any Bankruptcy Law, whether or not constituting an allowed claim in such proceeding (“Post Petition Interest”)) before such Guarantor receives payment of any Subordinated Obligations.

  • Definition of Guaranteed Obligations As used herein, the term “Guaranteed Obligations” means:

  • Guaranteed Obligations The Guarantor, in consideration of the execution and delivery of the Note Purchase Agreement and the purchase of the Notes by the Purchasers, hereby irrevocably, unconditionally and absolutely guarantees, on a continuing basis, to each Noteholder as and for the Guarantor’s own debt, until final and indefeasible payment of the amounts referred to in clause (a) below has been made: (a) the due and punctual payment by the Company of the principal of, and the Make-Whole Amount (if any) and interest on, the Notes at any time outstanding and the due and punctual payment of all other amounts payable, and all other Indebtedness owing, by the Company to the Noteholders under the Note Purchase Agreement and the Notes (including, without limitation, any monetary obligations incurred during the pendency of any bankruptcy, insolvency, winding-up, receivership or other similar proceeding regardless of whether allowed or allowable in such proceeding including, without limitation, interest accrued on the Notes during any such proceeding), in each case when and as the same shall become due and payable, whether at maturity, pursuant to mandatory or optional prepayment, by acceleration or otherwise, all in accordance with the terms and provisions hereof and thereof; it being the intent of the Guarantor that the guarantee set forth herein shall be a continuing guarantee of payment and not a guarantee of collection; and (b) the punctual and faithful performance, keeping, observance, and fulfillment by the Company of all duties, agreements, covenants and obligations of the Company contained in the Note Purchase Agreement and the Notes. All of the obligations set forth in clause (a) and clause (b) of this Section 2.1 are referred to herein as the “Guaranteed Obligations.”

  • QUANTITY BASIS OF CONTRACT – NO GUARANTEED QUANTITIES The contract established has no guarantee of any specific quantity and the State is obligated only to buy that quantity which is needed by its agencies.

  • GUARANTEED MAXIMUM PRICE PROPOSAL 7.1 At the conclusion of the Design Development phase the Contractor shall prepare and submit a Guaranteed Maximum Price Proposal to Owner based on the Design Development phase documents and review comments. The GMP shall be delivered to the Owner within three (3) weeks of the Design Development review meeting or a date established by the Owner. The GMP Proposal must be prepared in accordance with the guidelines established by Owner and delivered in the format specified by Owner in Exhibit “E” attached to this Agreement. Owner, at its sole option and discretion, may specify different requirements for the GMP Proposal. Contractor shall not withdraw its Guaranteed Maximum Price Proposal for ninety (90) days following submission to Owner. 7.2 In developing the GMP Proposal, Contractor shall coordinate efforts with A/E to identify qualifications, clarifications, assumptions, exclusions, value engineering and any other factors relevant to establishment of a GMP. Contractor shall review development of the GMP Proposal with Owner on an ongoing basis to address clarifications of scope and pricing, distribution of contingencies, schedule, assumptions, exclusions, and other matters relevant to the establishment of a GMP. 7.3 The GMP Proposal must include a written description of how it was derived that specifically identifies the clarifications and assumptions made by Contractor in the GMP and the monetary amounts attributable to them. The GMP Proposal shall include, without limitation, a breakdown of Contractor’s estimated General Conditions Costs and estimated Cost of the Work organized by trade and Masterformat 2004; contingency amounts; the Construction Phase Fee; and the proposed Contract Time, including dates for Notice to Proceed, Substantial Completion and Final Completion. Notwithstanding the breakdown of Contractor’s estimated costs, there are no line item guaranteed maximum amounts except for general conditions. 7.4 The Guaranteed Maximum Price Proposal shall allow for reasonably expected changes and refinements in the Drawings and Specifications through completion of the Construction Documents, except for material changes in scope. 7.5 The GMP Proposal shall include a Contractor’s Contingency amount. 7.6 Included with its GMP Proposal, Contractor shall provide three complete, bound sets of the drawings, specifications, plans, sketches, instructions, requirements, materials, equipment specifications and other information or documents that fully describe the Project as developed at the time of the GMP Proposal and that are relevant to the establishment of the GMP. The bound supporting documents shall be referenced in and incorporated into the GMP Proposal. 7.7 The GMP Proposal and all supporting documents shall identify and describe all items, assumptions, costs, contingencies, schedules and other matters necessary and relevant for proper execution and completion of the Work and for establishment of the GMP. The GMP Proposal and the supporting documents are complementary and, in the event of an irreconcilable conflict between or among them, the interpretation that provides for the higher quality or quantity of material and/or workmanship shall prevail over all other interpretations. 7.8 In submitting the GMP Proposal, Contractor represents that it will provide every item, system or element of performance that is identified, shown or specified in the GMP Proposal or the supporting documents, along with those necessary or ancillary materials that are reasonably inferable and equipment for their complete operating installation, unless specifically accepted in writing by Owner. Upon Owner’s written acceptance of the GMP Proposal, Contractor shall not be entitled to any increase in the GMP due to the continued refinement of the Construction Documents or the absence or addition of any detail or specification that may be required in order to complete the construction of the Project as described in and reasonably inferable from the GMP Proposal or the supporting documents used to establish the GMP. 7.9 The GMP Proposal shall adopt and incorporate all of the terms and conditions of this Agreement and all attachments to this Agreement. Any proposed deviation from the terms and conditions of this Agreement must be clearly and conspicuously identified to Owner in writing and specifically accepted in writing by Owner. In the event of a conflict between any term of the GMP Proposal that was not clearly and conspicuously identified and approved by Owner and the terms of this Agreement and its attachments, the terms of the Agreement and its attachments shall control. 7.10 Owner may accept or reject the Guaranteed Maximum Price Proposal or attempt to negotiate its terms with Contractor. Upon acceptance by Owner of the GMP Proposal in writing, both parties shall execute the GMP Proposal which shall become part of this Agreement. If Owner rejects the GMP Proposal or the parties are unable or unwilling to agree on a GMP, Owner may terminate this Agreement. 7.11 Following Owner’s acceptance of the GMP Proposal, Contractor shall continue to monitor the development of the Construction Documents so that, when complete, the Construction Documents adequately incorporate and resolve all qualifications, assumptions, clarifications, exclusions and value engineering issues identified in the GMP Proposal. During the Construction Documents stage, Contractor and A/E shall jointly deliver a monthly written status report to Owner describing the progress on the incorporation of all qualifications, assumptions, clarifications, exclusions, value engineering issues and all other matters relevant to the establishment of the GMP into the Construction Documents. 7.12 Contractor shall be entitled to an equitable adjustment of the GMP if it is required to pay or bear the burden of any new federal, state, or local tax, or any rate increase of an existing tax, except taxes on income, adopted through statute, court decision, written ruling, or regulation taking effect after acceptance of the GMP Proposal. This equitable adjustment does not apply to tax increases borne solely by Subcontractors. 7.13 The parties may agree to convert the GMP to a lump sum contract amount at any time after Contractor has received bids or proposals from trade Contractors or Subcontractors for the performance of all major elements of the Project. In proposing a lump sum amount, Contractor shall consider the buyout savings, any unused contingency amounts and the trade package contracts that have not been finalized. In preparing a lump sum conversion proposal, Contractor must provide the following information: 7.13.1 The stage of completion of the Project; 7.13.2 The trade packages that have been completely bought out; 7.13.3 The trade packages remaining that have not been bought out; 7.13.4 A complete line item breakdown of the calculations used to establish a lump sum amount based on the GMP Schedule of Values; 7.13.5 An accounting of all savings amounts that are to be returned to Owner as part of the lump sum calculation; and 7.13.6 Any other Project information requested by Owner. 7.14 Contractor shall document the actual Cost of the Project at buyout as compared to the Guaranteed Maximum Price Proposal and shall report this information to Owner monthly and with Contractor’s recommendation for selection of a bid/proposal for each subcontracting package. 7.15 Notwithstanding anything to the contrary herein, Contractor shall have no liability for delay or liquidated damages if the parties are unable to reach an agreement on the GMP.

  • MAXIMUM OBLIGATION A. The Total Maximum Obligation of County for services provided in accordance with this Contract, and the separate Maximum Obligations for each period under this Contract, are as specified in the Referenced Contract Provisions of this Contract, except as allowed for in Subparagraph B. below. B. Administrator may amend the Maximum Obligation by an amount not to exceed ten percent (10%) of Period One funding for this Contract.

  • No Guaranteed Work Work authorizations are issued at the discretion of the State. While it is the State's intent to issue work authorizations hereunder, the Engineer shall have no cause of action conditioned upon the lack or number of work authorizations issued.

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