Minimum Loading Event Costs Sample Clauses
The Minimum Loading Event Costs clause sets a baseline amount that must be paid or incurred whenever a loading event occurs, regardless of the actual costs involved. In practice, this means that even if the expenses for a particular loading event are lower than the specified minimum, the party responsible must still pay at least the minimum amount. This clause ensures predictability and guarantees a certain level of compensation or cost recovery, protecting parties from unexpectedly low payments and simplifying budgeting for such events.
Minimum Loading Event Costs. To the extent that, as a result of the failure by one or more Sponsoring Companies to take its respective Power Participation Ratio share of the applicable Total Minimum Generating Output during any hour, a Minimum Loading Event shall occur, then the sum of all Minimum Loading Event Costs relating to such Minimum Loading Event shall be charged to such Sponsoring Company or group of Sponsoring Companies that failed take its respective Power Participation Ratio share of the applicable Total Minimum Generating Output during such period, with such Minimum Loading Event Costs allocated among such Sponsoring Companies on a pro-rata basis in accordance with such Sponsoring Company’s MWh share of the MWh reduction in the delivery of Available Energy causing any Minimum Loading Event. The applicable charges for Minimum Loading Event Costs as determined by the corporation in accordance with Section 5.06 shall be paid each month by the applicable Sponsoring Companies.
Minimum Loading Event Costs. As soon as practicable after the end of each month, Corporation shall render to each Sponsoring Company a statement indicating any applicable charges for Minimum Loading Event Costs pursuant to Section 5.06 during such month, specifying the amount due to the Corporation therefor pursuant to Article 5 above. Such Sponsoring Company shall make payment therefor promptly upon the receipt of such statement, but in no event later than fifteen (15) days after the date of receipt of such statement. In case the computation of the amount due for Minimum Loading Event Costs cannot be determined at the time, it shall be estimated subject to adjustment when the actual determination can be made, and all payments shall be subject to subsequent adjustment.