Common use of Replacement Capacity Clause in Contracts

Replacement Capacity. (i) Subject to the provisions of this Agreement, if at any time the Accredited Capacity of the Facilities is less than the Buyer’s Capacity Amount, then Seller may provide Buyer with Replacement Capacity but only to the extent that the Accredited Capacity of the Facilities is less than the Buyer’s Capacity Amount. In no event shall Seller provide Replacement Capacity for a period of less than 12 months; provided, that if the MISO market provides for a capacity product of less than 12 months, Seller may provide Replacement Capacity for such shorter period of capacity product, but in no event less than one month or less than the Peak Period in the event Accredited Capacity is unavailable for any month in the applicable Peak Period; provided, further, that if the applicable regional reliability council or any other Governing Authority requires Replacement Capacity to be provided for a period of time greater than as set forth in the preceding proviso in order for such Replacement Capacity to be deemed Accredited Capacity, then Seller may only provide Replacement Capacity for a period no less than as mandated by such Governing Authority. Seller shall notify the Dispatch Authority Function of the source of such Replacement Capacity as soon as practicable. Subject to the terms of this Agreement, if at any xxxx Xxxxxx does not deliver Accredited Capacity from the Facilities or Replacement Capacity, in either case in an amount equal to Buyer’s Capacity Amount, Seller shall be required to pay Buyer liquidated damages equal to [**] (“Accredited Capacity Liquidated Damages”) for each MW-month (or portion thereof) of each such shortfall. At Buyer’s election, Seller shall be required to pay Accredited Capacity Liquidated Damages within five (5) Business Days of invoice receipt therefor. (ii) The amount, if any, by which the Accredited Capacity Liquidated Damages incurred in any calendar month exceed the Delivered Energy Payment due and payable for such month is referred to as the “Monthly Excess Accredited Capacity Liquidated Damages Amount”. In no event shall the sum of the Monthly Excess Accredited Capacity Liquidated Damages Amounts accrued during any Calendar Year exceed [**].

Appears in 4 contracts

Samples: Power Purchase Agreement, Power Purchase Agreement, Power Purchase Agreement (Wisconsin Energy Corp)

AutoNDA by SimpleDocs

Replacement Capacity. (i) Subject to the provisions of this Agreement, if at any time the Accredited Capacity of the Facilities is less than the Buyer’s 's Capacity Amount, then Seller may provide Buyer with Replacement Capacity but only to the extent that the Accredited Capacity of the Facilities is less than the Buyer’s 's Capacity Amount. In no event shall Seller provide Replacement Capacity for a period of less than 12 months; provided, that if the MISO market provides for a capacity product of less than 12 months, Seller may provide Replacement Capacity for such shorter period of capacity product, but in no event less than one month or less than the Peak Period in the event Accredited Capacity is unavailable for any month in the applicable Peak Period; provided, further, that if the applicable regional reliability council or any other Governing Authority requires Replacement Capacity to be provided for a period of time greater than as set forth in the preceding proviso in order for such Replacement Capacity to be deemed Accredited Capacity, then Seller may only provide Replacement Capacity for a period no less than as mandated by such Governing Authority. Seller shall notify the Dispatch Authority Function of the source of such Replacement Capacity as soon as practicable. Subject to the terms of this Agreement, if at any xxxx Xxxxxx does not deliver Accredited Capacity from the Facilities or Replacement Capacity, in either case in an amount equal to Buyer’s 's Capacity Amount, Seller shall be required to pay Buyer liquidated damages equal to [**] $9,000/MW-month ("Accredited Capacity Liquidated Damages") for each MW-month (or portion thereof) of each such shortfall. At Buyer’s 's election, Seller shall be required to pay Accredited Capacity Liquidated Damages within five (5) Business Days of invoice receipt therefor. (ii) . The amount, if any, by which the Accredited Capacity Liquidated Damages incurred in any calendar month exceed the Delivered Energy Payment due and payable for such month is referred to as the "Monthly Excess Accredited Capacity Liquidated Damages Amount". In no event shall the sum of the Monthly Excess Accredited Capacity Liquidated Damages Amounts accrued during any Calendar Year exceed [**]$75,000,000.

Appears in 1 contract

Samples: Power Purchase Agreement (Wisconsin Energy Corp)

Replacement Capacity. (a) (a) In the event Seller is unable to Schedule and Dispatch to Buyer all or a portion of the Contract Quantity of Capacity and associated Energy in accordance with a Scheduling and Dispatch Notice, Seller may, but is not obligated to, offer to obtain Replacement Capacity for Buyer subject to the terms and conditions herein. Buyer will, in its sole and absolute discretion, have the right to accept or reject Seller’s offer to obtain Replacement Capacity, on a case- by-case basis. To the extent Buyer accepts Seller’s offer to obtain Replacement Capacity, such Replacement Capacity shall, for all purposes of this Transaction, constitute Contract Quantity of Capacity that is actually available. (a) Seller shall bear all risk associated with any decision not to procure firmFirm Gas supplySupply and firmFirm Gas transportationTransportation to ensure its ability to deliver to Buyer the Energy associated with the Contract Quantity of Capacity. In the event Seller shall not Dispatch to Buyer any portion of the Contract Quantity of Capacity or deliver any portion of the associated Energy in accordance with a Scheduling and Dispatch Notice as a result of Seller’s failure to procure firmFirm Gas supplySupply or firmFirm Gas transportationTransportation, Buyer shall have the right, but not the obligation, to obtain Replacement Capacity subject to the terms and conditions herein or to Start-up or increase the output of generating resources of any Entergy Operating Company (“Buyer Provided Capacity”) to replace any portion of the Contract Quantity of Capacity and associated Energy not Scheduled and Dispatched and delivered by Seller. To the extent that Buyer shall procure any Replacement Capacity, including any Buyer Provided Capacity, pursuant to this Section [3.4(b)] and Seller shall have paid Buyer the applicable amount pursuant to Section [3.4(c)], such Replacement Capacity or Buyer Provided Capacity shall, for all purposes of this Transaction, constitute Contract Quantity of Capacity that is actually available. (c) (b) Buyer shall promptly notify Seller if Buyer elects to obtain Replacement Capacity, including any Buyer Provided Capacity, to replace any portion of the Contract Quantity of Capacity and associated Energy not Scheduled and Dispatched and delivered by Seller. Seller shall pay Buyer in accordance with Section 4.1 of the Master Agreement (i) Subject to the provisions of this Agreement, if at any time the Accredited Capacity of the Facilities is less than the Buyer’s Capacity Amount, then Seller may provide Buyer with Replacement Capacity but only to the extent that the Accredited Capacity of the Facilities is less than the Buyer’s Capacity Amount. In no event shall Seller provide Replacement Capacity for a period of less than 12 months; provided, that if the MISO market provides for a capacity product of less than 12 months, Seller may provide Replacement Capacity for such shorter period of capacity product, but in no event less than one month or less than the Peak Period in the event Accredited Capacity is unavailable for any month in the applicable Peak Period; provided, further, that if the applicable regional reliability council or any other Governing Authority requires Replacement Capacity to be provided for a period of time greater than as set forth in the preceding proviso in order an amount for such Replacement Capacity to be deemed Accredited Capacity, then Seller may only provide Replacement Capacity for a period no less than as mandated by such Governing Authority. Seller shall notify the Dispatch Authority Function of the source of such Replacement Capacity as soon as practicable. Subject equal to the terms of this Agreement, if at any xxxx Xxxxxx does not deliver Accredited Capacity from the Facilities or Replacement Capacity, in either case in an amount equal to Buyer’s Capacity Amount, Seller shall be required to pay Buyer liquidated damages equal to [**] (“Accredited Capacity Liquidated Damages”) for each MW-month (or portion thereof) of each such shortfall. At Buyer’s election, Seller shall be required to pay Accredited Capacity Liquidated Damages within five (5) Business Days of invoice receipt therefor. (ii) The amountpositive difference, if any, obtained by which subtracting the Accredited Capacity Liquidated Damages incurred in any calendar month exceed the Delivered Energy Payment due from the Replacement Price and payable (ii) an amount for such month is referred Buyer Provided Capacity equal to as the “Monthly Excess Accredited Capacity Liquidated Damages Amount”. In no event shall positive difference, if any, obtained by subtracting the Energy Payment from the sum of all costs incurred by Buyer in connection with or relating to the Monthly Excess Accredited Capacity Liquidated Damages Amounts accrued during any Calendar Year exceed [**]provision of Buyer Provided Capacity.

Appears in 1 contract

Samples: Master Power Purchase and Sale Agreement

AutoNDA by SimpleDocs

Replacement Capacity. (a) In the event Seller is unable to Schedule and Dispatch to Buyer all or a portion of the Contract Quantity of Capacity and associated Energy in accordance with a Scheduling and Dispatch Notice, Seller may, but is not obligated to, offer to obtain Replacement Capacity for Buyer subject to the terms and conditions herein. Buyer will, in its sole and absolute discretion, have the right to accept or reject Seller’s offer to obtain Replacement Capacity, on a case-by-case basis. To the extent Buyer accepts Seller’s offer to obtain Replacement Capacity, such Replacement Capacity shall, for all purposes of this Transaction, constitute Contract Quantity of Capacity that is actually available. (b) Seller shall bear all risk associated with any decision not to procure firm Gas supply and firm Gas transportation to ensure its ability to deliver to Buyer the Energy associated with the Contract Quantity of Capacity. In the event Seller shall not Dispatch to Buyer any portion of the Contract Quantity of Capacity or deliver any portion of the associated Energy in accordance with a Scheduling and Dispatch Notice as a result of Seller’s failure to procure firm Gas supply or firm Gas transportation, Buyer shall have the right, but not the obligation, to obtain Replacement Capacity subject to the terms and conditions herein or to Start-up or increase the output of generating resources of any Entergy Operating Company (“Buyer Provided Capacity”) to replace any portion of the Contract Quantity of Capacity and associated Energy not Scheduled and Dispatched and delivered by Seller. To the extent that Buyer shall procure any Replacement Capacity, including any Buyer Provided Capacity, pursuant to this Section [3.4(b)] and Seller shall have paid Buyer the applicable amount pursuant to Section [3.4(c)], such Replacement Capacity or Buyer Provided Capacity shall, for all purposes of this Transaction, constitute Contract Quantity of Capacity that is actually available. (c) Buyer shall promptly notify Seller if Buyer elects to obtain Replacement Capacity, including any Buyer Provided Capacity, to replace any portion of the Contract Quantity of Capacity and associated Energy not Scheduled and Dispatched and delivered by Seller. Seller shall pay Buyer in accordance with Section 4.1 of the Master Agreement (i) Subject to the provisions of this Agreement, if at any time the Accredited Capacity of the Facilities is less than the Buyer’s Capacity Amount, then Seller may provide Buyer with Replacement Capacity but only to the extent that the Accredited Capacity of the Facilities is less than the Buyer’s Capacity Amount. In no event shall Seller provide Replacement Capacity for a period of less than 12 months; provided, that if the MISO market provides for a capacity product of less than 12 months, Seller may provide Replacement Capacity for such shorter period of capacity product, but in no event less than one month or less than the Peak Period in the event Accredited Capacity is unavailable for any month in the applicable Peak Period; provided, further, that if the applicable regional reliability council or any other Governing Authority requires Replacement Capacity to be provided for a period of time greater than as set forth in the preceding proviso in order an amount for such Replacement Capacity to be deemed Accredited Capacity, then Seller may only provide Replacement Capacity for a period no less than as mandated by such Governing Authority. Seller shall notify the Dispatch Authority Function of the source of such Replacement Capacity as soon as practicable. Subject equal to the terms of this Agreement, if at any xxxx Xxxxxx does not deliver Accredited Capacity from the Facilities or Replacement Capacity, in either case in an amount equal to Buyer’s Capacity Amount, Seller shall be required to pay Buyer liquidated damages equal to [**] (“Accredited Capacity Liquidated Damages”) for each MW-month (or portion thereof) of each such shortfall. At Buyer’s election, Seller shall be required to pay Accredited Capacity Liquidated Damages within five (5) Business Days of invoice receipt therefor. (ii) The amountpositive difference, if any, obtained by which subtracting the Accredited Capacity Liquidated Damages incurred in any calendar month exceed the Delivered Energy Payment due from the Replacement Price and payable (ii) an amount for such month is referred Buyer Provided Capacity equal to as the “Monthly Excess Accredited Capacity Liquidated Damages Amount”. In no event shall positive difference, if any, obtained by subtracting the Energy Payment from the sum of all costs incurred by Buyer in connection with or relating to the Monthly Excess Accredited Capacity Liquidated Damages Amounts accrued during any Calendar Year exceed [**]provision of Buyer Provided Capacity.

Appears in 1 contract

Samples: Master Power Purchase and Sale Agreement

Draft better contracts in just 5 minutes Get the weekly Law Insider newsletter packed with expert videos, webinars, ebooks, and more!