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: Lost Savings = (MGO*WPR – AE) x RV MGO = Minimum Guaranteed Output, as measured in total kWh, for System for the applicable Contract Year.
Appears in 4 contracts
Samples: Services Agreement, Services Agreement, Services Agreement
