Common use of Performance Guarantee Deposit Clause in Contracts

Performance Guarantee Deposit. On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy-five thousand dollars ($75,000). Buyer shall return a portion of the Performance Guarantee Deposit quarterly during the first Contract Year pro rata based on the actual Energy Delivered to Buyer during such quarter compared to the total Projected Annual Energy Output for the first Contract Year. Any Performance Guarantee Deposit remaining at the conclusion of the first Contract Year shall be forfeited to Buyer. Each Party agrees and acknowledges that (i) the damages that the Parties would incur due to a failure of the Facility to achieve the Projected Annual Energy Output in the first Contract Year would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore retention of all or a portion of the Performance Guarantee Deposit as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.

Performance Guarantee Deposit. On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy-seventy- five thousand dollars ($75,000). Buyer shall return a portion of the Performance Guarantee Deposit quarterly during the first Contract Year pro rata based on the actual Energy Delivered to Buyer during such quarter compared to the total Projected Annual Energy Output for the first Contract Year. Any Performance Guarantee Deposit remaining at the conclusion of the first Contract Year shall be forfeited to Buyer. Each Party agrees and acknowledges that (i) the damages that the Parties would incur due to a failure of the Facility to achieve the Projected Annual Energy Output in the first Contract Year would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore retention of all or a portion of the Performance Guarantee Deposit as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.

Performance Guarantee Deposit. On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy-seventy- five thousand dollars ($75,000). Buyer shall return a portion of the Performance Guarantee Deposit quarterly during the first Contract Year pro rata based on the actual Energy Delivered to Buyer during such quarter compared to the total Projected Annual Energy Output for the first Contract Year. Any Performance Guarantee Deposit remaining at the conclusion of the first Contract Year shall be forfeited to Buyer. Each Party agrees and acknowledges that (i) the damages that the Parties would incur due to a failure of the Facility to achieve the Projected Annual Energy Output in the first Contract Year would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore retention of all or a portion of the Performance Guarantee Deposit as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.

Performance Guarantee Deposit. On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy-five thousand dollars ($75,000). Buyer shall return a portion of the Performance Guarantee Deposit quarterly during the first Contract Year pro rata based on the actual Energy Delivered to Buyer during such quarter compared to the total Projected Annual Energy Output for the first Contract Year. Any Performance Guarantee Deposit remaining at the conclusion of the first Contract Year shall be forfeited credited to ratepayersforfeited. to Buyer. Each Party agrees and acknowledges that (i) the damages that the Parties would incur due to a failure of the Facility to achieve the Projected Annual Energy Output in the first Contract Year would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore retention of all or a portion of the Performance Guarantee Deposit as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.