Common use of PREPA Risk Adjustment Clause in Contracts

PREPA Risk Adjustment. The Parties shall calculate the PREPA Risk Adjustment (“PRA”) for Billing Period “n” as follows: − ( + + ) where: = ( XXXx = PREPA Risk Adjustment for the Billing Period; BPHRSn = total number of hours for the Billing Period; GSEHRSn = the duration (in hours) of any Grid System Event (other than a Force Majeure affecting PREPA) occurring in the Billing Period, provided that the number of GSEHRS in the Billing Period when added to the number of GSEHRS in the preceding Billing Periods for the Year, shall not exceed the Grid System Waiting Period, and any such excess GSEHRS shall not be included in the calculation of GSEHRSn; PFMHRSn = duration (in hours) of any Force Majeure affecting PREPA occurring in the Billing Period, provided that the number of PFMHRS in the Billing Period when added to the number of PFMHRS in the preceding Billing Periods for the Year, shall not exceed the Force Majeure Waiting Period, and any such excess PFMHRS shall not be included in the calculation of PFMHRSn; and IPHRSn = duration (in hours) of any event during the Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements). Resource Provider acknowledges and agrees that the Monthly Fixed Payment shall not apply in respect of an hour Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would recover or have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements).

PREPA Risk Adjustment. The Parties shall calculate the PREPA Risk Adjustment (“PRA”) for Billing Period “n” as follows: = ( − ( + + ) where: = ( ) XXXx = PREPA Risk Adjustment for the Billing Period; BPHRSn = total number of hours for the Billing Period; GSEHRSn = the duration (in hours) of any Grid System Event (other than a Force Majeure affecting PREPA) occurring in the Billing Period, provided that the number of GSEHRS in the Billing Period Period, when added to the number of GSEHRS in the preceding Billing Periods for the Year, shall not exceed the Grid System Waiting Period, and any such excess GSEHRS shall not be included in the calculation of GSEHRSn; PFMHRSn = duration (in hours) of any Force Majeure affecting PREPA occurring in the Billing Period, Period provided that the number of PFMHRS in the Billing Period Period, when added to the number of PFMHRS in the preceding Billing Periods for the Year, shall not exceed the Force Majeure Waiting Period, and any such excess PFMHRS shall not be included in the calculation of PFMHRSn; and IPHRSn = duration (in hours) of any event during the Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements). Resource Provider acknowledges and agrees that the Monthly Fixed Payment shall not apply in respect of an hour Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would recover or have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (hg) of Section 18.1 (Resource Provider Requirements).

PREPA Risk Adjustment. The Parties shall calculate the PREPA Risk Adjustment (“PRA”) for Billing Period “n” as follows: 𝐁𝐏𝐇𝐑𝐒𝐧 − (𝐆𝐒𝐄𝐇𝐑𝐒𝐧 + 𝐏𝐅𝐌𝐇𝐑𝐒𝐧 + 𝐈𝐏𝐇𝐑𝐒𝐧 ) XXXx = ( + + ) 𝐁𝐏𝐇𝐑𝐒𝐧 where: = ( XXXx = PREPA Risk Adjustment for the Billing Period; BPHRSn = total number of hours for the Billing Period; GSEHRSn = the duration (in hours) of any Grid System Event (other than a Force Majeure affecting PREPA) occurring in the Billing Period, provided that the number of GSEHRS in the Billing Period when added to the number of GSEHRS in the preceding Billing Periods for the Year, shall not exceed the Grid System Waiting Period, and any such excess GSEHRS shall not be included in the calculation of GSEHRSn; PFMHRSn = duration (in hours) of any Force Majeure affecting PREPA occurring in the Billing Period, provided that the number of PFMHRS in the Billing Period when added to the number of PFMHRS in the preceding Billing Periods for the Year, shall not exceed the Force Majeure Waiting Period, and any such excess PFMHRS shall not be included in the calculation of PFMHRSn; and IPHRSn = duration (in hours) of any event during the Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements). Resource Provider acknowledges and agrees that the Monthly Fixed Payment shall not apply in respect of an hour Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would recover or have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements).

PREPA Risk Adjustment. The Parties shall calculate the PREPA Risk Adjustment (“PRA”) for Billing Period “n” as follows: − ( + + ) = ( where: = ( XXXx = PREPA Risk Adjustment for the Billing Period; BPHRSn = total number of hours for the Billing Period; GSEHRSn = the duration (in hours) of any Grid System Event (other than a Force Majeure affecting PREPA) occurring in the Billing Period, provided that the number of GSEHRS in the Billing Period when added to the number of GSEHRS in the preceding Billing Periods for the Year, shall not exceed the Grid System Waiting Period, and any such excess GSEHRS shall not be included in the calculation of GSEHRSn; PFMHRSn = duration (in hours) of any Force Majeure affecting PREPA occurring in the Billing Period, provided that the number of PFMHRS in the Billing Period when added to the number of PFMHRS in the preceding Billing Periods for the Year, shall not exceed the Force Majeure Waiting Period, and any such excess PFMHRS shall not be included in the calculation of PFMHRSn; and IPHRSn = duration (in hours) of any event during the Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements). Resource Provider acknowledges and agrees that the Monthly Fixed Payment shall not apply in respect of an hour Billing Period in respect of which Resource Provider may recover insurance proceeds from any insurance policy that Resource Provider obtains (or would recover or have obtained had it complied with this Agreement) in respect of PREPA Risk Events, including business interruption insurance in accordance with paragraph (h) of Section 18.1 (Resource Provider Requirements).