Common use of Payments for Power Clause in Contracts

Payments for Power. Power Marketing shall pay to the Owner Entity for the amount of the Station Power provided by the Owner Entity to Power Marketing the Net Power Revenue from the sales by Power Marketing of such Power. By no later than the twenty-fifth (25th) day of each calendar month, Power Marketing shall deliver an estimated statement, together with the estimated payment required pursuant to such statement, to the Owner Entity setting forth, separately with respect to Capacity, Energy and Ancillary Services, the estimated Station Power provided by the Owner Entity pursuant to Dispatch effected by Power Marketing during the preceding calendar month and the total amount due to the Owner Entity from Power Marketing with respect thereto, together with any applicable supporting documentation. As soon as possible with respect to each calendar month, and in any case no later than ten (10) Business Days after final reconciliation of such calendar month by the Power Pool, Power Marketing shall deliver a true-up statement to the Owner Entity with respect to such calendar month, which statement shall set forth, separately with respect to Capacity, Energy and Ancillary Services, the actual Station Power provided by the Owner Entity pursuant to Dispatch effected by Power Marketing. If such true-up statement reveals a shortfall in payment by Power Marketing with respect to such payment, such true-up statement shall be accompanied by payment for such shortfall, together with interest at the Interest rate from the date originally due (i.e., the twenty-fifth (25th) day of the month following the calendar month in which such Power was provided or generated by the Owner Entity) until paid in full. If such true-up statement reveals an overpayment by Power Marketing with respect to such payment, the Owner Entity shall refund such overpayment to Power Marketing no later than ten (10) Business Days following the delivery of such true-up statement, together with interest at the Interest Rate form the date such overpayment was originally made until repaid in full.

Payments for Power. Power Marketing shall pay to the Owner Entity for the amount of the Station Power provided by the Owner Entity to Power Marketing the Net Power Revenue from the sales by Power Marketing of such Power. By no later than the twenty-fifth (25th) day of each calendar month, Power Marketing shall deliver an estimated statement, together with the estimated payment required pursuant to such statement, to the Owner Entity setting forth, separately with respect to Capacity, Energy and Ancillary Services, the estimated Station Power provided by the Owner Entity pursuant to Dispatch effected by Power Marketing during the preceding calendar month and the total amount due to the Owner Entity from Power Marketing with respect thereto, together with any applicable supporting documentation. As soon as possible with respect to each calendar month, and in any case no later than ten (10) Business Days after final reconciliation of such calendar month by the Power Pool, . Power Marketing shall deliver a true-up statement to the Owner Entity with respect to such calendar month, which statement shall set forth, separately with respect to Capacity, Energy and Ancillary Services, the actual Station Power provided by the Owner Entity pursuant to Dispatch effected by Power Marketing. If such true-up statement reveals a shortfall in payment by Power Marketing with respect to such payment, such true-up statement shall be accompanied by payment for such shortfall, together with interest at the Interest rate from the date originally due (i.e., the twenty-fifth (25th) day of the month following the calendar month in which such Power was provided or generated by the Owner Entity) until paid in full. If such true-up statement reveals an overpayment by Power Marketing with respect to such payment, the Owner Entity shall refund such overpayment to Power Marketing no later than ten (10) Business Days following the delivery of such true-up statement, together with interest at the Interest Rate form the date such overpayment was originally made until repaid in full.