Power Purchase Clause Samples

The Power Purchase clause defines the terms under which one party agrees to buy electricity or energy from another party, typically a producer or supplier. It outlines key details such as the quantity of power to be purchased, pricing mechanisms, delivery schedules, and payment terms. This clause ensures both parties have a clear understanding of their obligations and rights regarding the sale and purchase of power, thereby reducing the risk of disputes and providing a reliable framework for energy transactions.
Power Purchase. The Agreement does not constitute an agreement to purchase or deliver the Applicant’s power nor does it constitute an electric service agreement.
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Power Purchase. 2.1 The SPO agrees to exclusively sell at the Delivery Point to the Consumer and the Consumer agrees to purchase the Contracted Capacity at the Delivery Point at the Tariff, subject to and in accordance with the terms and conditions set forth in this Agreement. For avoidance of doubt, in the event that the SPO is unable to operate the Plant in part or whole for any period of time during the Term for any reason other than a technical failure of the Plant, Force ▇▇▇▇▇▇ or reasons attributable to SPO or Contractor, the Consumer shall be liable to compensate the SPO for lost revenues based on preceding 12 (Twelve) months (or, if the disruption occurs within the first 12 (Twelve) months of operation, the normative output for such period as estimated by the SPO) performance history of the Plant. 2.2 The SPO guarantees generation as per Schedule. In the event, the annual generation falls below guaranteed limits for any reason whatsoever subject to annual degradation of 0.7% (in subsequent years), SPO will pay an amount equivalent to number of units falling short multiplied by the difference of rate between SPG’s rate and the annual average rate at which the power distribution company supplies power.
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Power Purchase. Hydro will purchase from the Limited Partnership all of the energy and capacity of the Keeyask Generating Station, on the terms set out in the PPA and in Article 10 of this JKDA.
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Power Purchase. 3.1 Commencing on the Commencement Date, SELLER shall sell and BUYER shall purchase from SELLER 9.06 megawatthours ("MWh") per hour of firm energy and 9.06 megawatts ("MW") of capacity (currently referred to as ICAP). BUYER shall purchase such power at a purchase price of 5.034 cents per kilowatthour -3- Issued by: Anthony M. Callendrello, Vice President Effective: November 1, 2002 ▇▇▇▇▇▇ ▇▇: ▇▇▇▇ ▇▇, ▇▇02 Great Bay Power Corporation Original Sheet No. 4 First Revised Rate Schedule FERC No. 16 ("kWh") of energy actually delivered to the Delivery Point pursuant to Article 4 below, as adjusted from time to time as set forth in Section 3.3 below (as adjusted, the "Purchase Price"). 3.2 For purposes of this Agreement, "firm" shall mean that SELLER's obligation to sell and deliver the energy and capacity provided for in Section 3.1, above, shall be excused only to the extent that, and for the period during which, such performance is prevented by Force Majeure affecting SELLER, and that BUYER's obligation to purchase and pay for such energy and capacity shall be excused only to the extent that, and for the period during which, such performance is prevented by Force Majeure affecting BUYER.
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Power Purchase. Tenant shall deliver all power generated from the Energy System to Customer at the point of interconnection shown on Schedule A of the Facility Lease. a. Customer will pay Tenant for all the power generated from the Energy System and delivered to the interconnection point by making the payments specified in Schedule A (the “Power Payments”). b. In the event the DC Wattage of the Project installed differs from the size specified in the Purchase Agreement, a revised Schedule A will be provided that reflects the final Project installed. c. The Power Payments for the Energy System are due monthly beginning on the first day of the first month following its Final Project Completion date and continuing each month until expiration of the Term (defined below) of this Agreement for the Energy System. Power Payments do not include any sales tax. Sales tax will be added to the Power Payments based on Customer’s applicable sales tax rate. Customer will mail payments to the Tenant to the address below.
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Power Purchase. The 2007 Cabinet decision determined Eskom as the single buyer within the national IPP process. However, subsequent sets of regulations and on-ground developments have somewhat clouded who is authorised to purchase from private generators. In the IPP procurement framework the ‘procurer’ is not defined and the Draft Second Electricity Regulation Amendment Bill makes provision for ministerial exemption from the single buyer obligation. ▇▇▇▇▇’s Regulatory Rules on Network Charges for Third Party Transportation of Energy (wheeling framework), states that “any load customer shall be free to go into bilateral arrangements with any third-party generator, i.e. non- Municipal and non-Eskom generator” (NERSA, 2012, clause 6.7). This rule, and the Regulator’s licensing of independent power traders to operate in the market, further indicates that bilateral PPAs are allowed. There is nothing stating that municipalities may not engage in such PPAs. However it seems that ministerial exemption/approval would be required for a generator to sell outside of the single buyer model and for the Municipality to enter into a PPA. The Electricity Regulation Act of 2006 (Act No. 40 of 2006) requires that the transmission, distribution and trading functions of electricity be separately licensed and that the transmission or distribution functions shall provide non-discriminatory access to all users of the networks. ▇▇▇▇▇’s Regulatory Rules on Network Charges for Third Party Transportation of Energy (2012) provide guidance on prices and tariffs relating to the wheeling of power. These include guidelines on: General Use-of System Charges, Network Charges, Reliability Service Charge, Service and Administration Charge, Losses Charge and Connection Charges. It also provides direction around ensuring that the subsidy contributions contained within the system charges are included in the wheeling prices. 376
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Related to Power Purchase

  • PURCHASER PURCHASE ORDERS Purchaser Orders may be terminated: (a) upon the mutual written agreement of the parties; (b) by the non-breaching party where the breach is not cured within thirty (30) calendar days after written notice of breach is delivered to the breaching party, unless a different time for cure is otherwise stated in the applicable Purchase Order; and (c) as otherwise expressly provided for in the applicable Purchase Order. Purchase Orders shall terminate automatically and without further action if a party becomes insolvent or is placed in receivership, reorganization, liquidation, or bankruptcy. In addition to any other available remedies, the non-breaching party may terminate the Purchase Order as provided in subsection (b) above without further liability by written notice to the breaching party. A termination for breach will not affect rights or obligations accrued or owed before the effective date of the termination notice.

  • Performance Under Purchase Contracts The Company covenants and agrees for the benefit of the Holders from time to time of the Units that it will duly and punctually perform its obligations under the Purchase Contracts in accordance with the terms of the Purchase Contracts and this Agreement.

  • Arrangements for Purchases The Manager is authorized to arrange for the purchase by others (including the Manager or any other Underwriter) of any Securities not purchased by any defaulting Underwriter in accordance with the terms of the applicable Underwriting Agreement or, if the applicable Underwriting Agreement does not provide arrangements for defaulting Underwriters, in the discretion of the Manager. If such arrangements are made, the respective amounts of Securities to be purchased by the remaining Underwriters and such other person or persons, if any, will be taken as the basis for all rights and obligations hereunder, but this will not relieve any defaulting Underwriter from liability for its default.

  • Request for Purchase The Company may from time to time during the Issuance Period make requests for purchases of Private Shelf Notes (each such request being herein called a “REQUEST FOR PURCHASE”). Each Request for Purchase shall be made to Prudential by telecopier and confirmed by nationwide overnight delivery service, and shall (i) specify the aggregate principal amount of Private Shelf Notes covered thereby, which shall not be less than $5,000,000 and shall not be greater than the Available Facility Amount at the time such Request for Purchase is made, (ii) specify the principal amounts, final maturities, principal prepayment dates and amounts and interest payment periods (quarterly in arrears) of the Private Shelf Notes covered thereby, (iii) specify the use of proceeds of such Private Shelf Notes, (iv) specify the proposed day for the closing of the purchase and sale of such Private Shelf Notes, which shall be a Business Day during the Issuance Period not more than thirty (30) days after the making of such Request for Purchase and in any event not less than three (3) days after any Acceptance with respect to such Request for Purchase under paragraph 2E, (v) specify the number of the account and the name and address of the depository institution to which the purchase prices of such Private Shelf Notes are to be transferred on the Private Shelf Closing Day for such purchase and sale, (vi) certify that the representations and warranties contained in paragraph 8 hereof are true on and as of the date of such Request for Purchase except to the extent of changes caused by the transactions herein contemplated and that there exists on the date of such Request for Purchase no Event of Default or Default (and that no Event of Default or Default shall arise as the result of the purchase and sale of such Private Shelf Notes), and (vii) be substantially in the form of EXHIBIT B attached hereto. Each Request for Purchase shall be in writing and shall be deemed made when received by Prudential.

  • Sale Purchase (A) Consummation of Sale and Purchase The sale and purchase of Eligible Loans pursuant to the Purchase Agreement to be dated as of the Closing Date shall be consummated upon (i) Funding’s receipt from SLM ECFC of the related ▇▇▇▇ of Sale, (ii) the payment by Funding to SLM ECFC of the Initial Payment and (iii) the assignment to SLM ECFC of the Excess Distribution Certificate. Upon consummation, such sale and purchase shall be effective as of the date of the ▇▇▇▇ of Sale. SLM ECFC and Funding shall use their best efforts to perform promptly their respective obligations pursuant to such Purchase Agreement with respect to each Loan. (B) Settlement of the Initial Payment On the Closing Date, Funding shall pay to SLM ECFC the Initial Payment by wire transfer of immediately available funds to the account specified by SLM ECFC. (C) Interest Subsidy and Special Allowance Payments and Rebate Fees SLM ECFC shall be entitled to all Interest Subsidy Payments and Special Allowance Payments on the Loans up to but not including the related Payment Cutoff Date, and shall be responsible for the payment of rebate fees, if any, applicable to Purchased Loans accruing up to but not including the related Payment Cutoff Date. The Interim Eligible Lender Trustee on behalf of Funding shall be entitled to all Special Allowance Payments and Interest Subsidy Payments on the Purchased Loans accruing from, and including, the related Payment Cutoff Date, and shall be responsible for the payment of any rebate fees applicable to Purchased Loans accruing from, and including, the Payment Cutoff Date.