Common use of Payment of Contract Price Clause in Contracts

Payment of Contract Price. (a) The amount payable to Seller for each Settlement Timeframe shall be, for each Buyer, an amount equal to: (i) in each Settlement Timeframe in which the CAISO Settlement Price is zero or positive, the product of (A), (B), and (C), where: (A) is the amount (in MWh) of Facility Energy generated during such Settlement Timeframe, (B) is the Buyers’ Percentage of Facility Output, and (C) is the Fixed Rate; (ii) for the first three-hundred (300) Settlement Timeframes in any Contract Year (or such other number of Settlement Timeframes as would be equal to twenty- five (25) hours in the event that CAISO changes the number of minutes in a Settlement Timeframe as of the Effective Date) in which the CAISO Settlement Price is negative (the “Initial Negative Intervals”), for each Settlement Timeframes, the product of (A), (B), and (C), where: (A) is the amount (in MWh) of Facility Energy generated during such Settlement Timeframe, (B) is the Buyers’ Percentage of Facility Output, and (C) is the Fixed Rate plus the CAISO Settlement Price for such Initial Negative Intervals; and (iii) for each Settlement Timeframe in which the CAISO Settlement Price is negative other than the Initial Negative Intervals, the product of (A), (B), and (C), where: (A) is the amount (in MWh) of Facility Energy generated during such Settlement Timeframe, (B) is the Buyers’ Percentage of Facility Output, and (C) is the Fixed Rate; and (iv) if any Buyer (including, in the case of SCPPA, any of its Participating Members), exercises its right to curtail per Section 7.4(c), the amount to be paid by such Buyer for Deemed Generated Energy shall be the product of (A), (B), and (C), where (A) is the amount of Deemed Generated Energy calculated during such period of curtailment, (B) is the Buyers’ Percentage of Facility Output, and (C) is the Fixed Rate. (b) The Parties acknowledge that the foregoing payment formulas reflect both the Contract Price agreed upon by the Parties and the payments to be received from the CAISO under current market design. Seller shall invoice each Buyer for the amounts calculated hereunder in accordance with Article XI. If the amount determined to be payable by a Buyer is negative, then Seller shall pay such Buyer such amount. (c) For purposes of this Section 6.5, a “negative” CAISO Settlement Price occurs when the CAISO Settlement Price for a Settlement Timeframe is negative and the Facility Energy (or Deemed Generated Energy, as applicable) for that Settlement Timeframe is positive, and a “zero or positive” CAISO Settlement Price occurs when the CAISO Settlement Price for a Settlement Timeframe is zero or positive and the Facility Energy (or Deemed Generated Energy, as applicable) for that Settlement Timeframe is positive. (d) For purposes of illustration only, sample calculations are provided in Schedule 6.5. C. Schedule 6.5 shall be replaced in its entirety with the following:

Payment of Contract Price. (a) The amount payable to Seller for each Settlement Timeframe Interval shall be, for each Buyer, an amount equal to: (i) in each Settlement Timeframe Interval in which the CAISO Settlement Price is zero or positive, the product of (A), (B), and (C), where: (A) is the amount (in MWh) of Facility Energy generated during such Settlement TimeframeInterval, (B) is the Buyers’ Percentage of Facility Output, and (C) is the difference between (x) the Fixed RateRate minus (y) the CAISO Settlement Price; (ii) for the first three-hundred (300) Settlement Timeframes Intervals in any Contract Year (or such other number of Settlement Timeframes Intervals as would be equal to twenty- five (25) hours in the event that CAISO changes the number of minutes in a Settlement Timeframe Interval as of the Effective Date) in which the CAISO Settlement Price is negative (the “Initial Negative Intervals”), for each Settlement TimeframesInterval, the product of (A), (B), and (C), where: (A) is the amount (in MWh) of Facility Energy generated during such Settlement TimeframeInterval, (B) is the Buyers’ Percentage of Facility Output, and (C) is the Fixed Rate plus the CAISO Settlement Price for such Initial Negative IntervalsRate; and (iii) for each Settlement Timeframe Interval in which the CAISO Settlement Price is negative other than the Initial Negative Intervals, the product of (A), (B), and (C), where: (A) is the amount (in MWh) of Facility Energy generated during such Settlement TimeframeInterval, (B) is the Buyers’ Percentage of Facility Output, and (C) is the difference between (x) the Fixed RateRate minus (y) the CAISO Settlement Price; and (iv) if any Buyer (including, in the case of SCPPA, any of its Participating Members), exercises its right to curtail per Section 7.4(c), the amount to be paid by such Buyer for Deemed Generated Energy shall be the product of (A), (B), and (C), where (A) is the amount of Deemed Generated Energy calculated during such period of curtailment, (B) is the Buyers’ Percentage of Facility Output, and (C) is the Fixed Rate. (b) The Parties acknowledge that the foregoing payment formulas reflect both the Contract Price agreed upon by the Parties and the payments to be received payment Seller shall receive from the CAISO under current market design. Seller shall invoice each Buyer for the amounts calculated hereunder in accordance with Article XI. If the amount determined to be payable by a Buyer is negative, then Seller shall pay such Buyer such amount. (c) For purposes of this Section 6.5, a “negative” CAISO Settlement Price occurs when the CAISO Settlement Price for a Settlement Timeframe Interval is negative and the Facility Energy (or Deemed Generated Energy, as applicable) for that Settlement Timeframe Interval is positive, and a “zero or positive” CAISO Settlement Price occurs when the CAISO Settlement Price for a Settlement Timeframe Interval is zero or positive and the Facility Energy (or Deemed Generated Energy, as applicable) for that Settlement Timeframe Interval is positive.. - 41 - #4823-2509-6471v19 (d) For purposes of illustration only, sample calculations of the Contract Price are provided in Schedule 6.5. C. Schedule 6.5 shall be replaced in its entirety with the following: