Common use of RTE Test and Liquidated Damages Clause in Contracts

RTE Test and Liquidated Damages. For each XXXX Measurement Period following the Commercial Operations Date, the XXXX shall be required to complete a RTE Test or otherwise demonstrate satisfaction of the RTE Performance Metric, as more fully set forth in Attachment W (XXXX Tests) to this Agreement. For each XXXX Measurement Period for which the XXXX fails to demonstrate that it satisfies the RTE Performance Metric, Seller shall pay, and Company shall accept, as liquidated damages for such shortfall, in the amount to be calculated as provided in this Section 2.10(a) (RTE Test and Liquidated Damages), upon proper demand at the end the XXXX Measurement Period in question. The RTE Performance Metric is ___% as measured at the Point of Interconnection. [DRAFTING NOTE: PERCENTAGE TO BE TAKEN FROM RESPONSE TO RFP.] The liquidated damages threshold ("LDT") is equal to the RTE Performance Metric minus 2 percentage points. The Selected RTE Test is the RTE Test that came closest to satisfying the RTE Performance Metric during the XXXX Measurement Period in question. Seller shall be liable for liquidated damages if: Where: PM = RTE Performance Metric stated as percentage RTE Ratio = RTE Ratio from Selected RTE Test stated as percentage For each percentage point by which the RTE Ratio is below the LDT, Seller shall pay, and Company shall accept, liquidated damages in an amount equal to two-tenths of one percent (0.002) of the XXXX Allocated Portion of the Lump Sum Payment for the XXXX Measurement Period in question. Each Party agrees and acknowledges that (i) the damages that Company would incur if the Seller fails to achieve the RTE Performance Metric for a XXXX Measurement Period would be difficult or impossible to calculate with certainty and (ii) the aforesaid liquidated damages are an appropriate approximation of such damages.

RTE Test and Liquidated Damages. For each XXXX Measurement Period following the Commercial Operations Date, the XXXX shall be required to complete a RTE Test or otherwise demonstrate satisfaction of the RTE Performance Metric, as more fully set forth in Attachment W (XXXX Tests) to this Agreement. For each XXXX Measurement Period for which the XXXX fails to demonstrate that it satisfies the RTE Performance Metric, Seller shall pay, and Company shall accept, as liquidated damages for such shortfall, in the amount to be calculated as provided in this Section 2.10(a2.11(a) (RTE Test and Liquidated Damages), upon proper demand at the end the XXXX Measurement Period in question. The RTE Performance Metric is ___% as measured at the Point of Interconnection. [DRAFTING NOTE: PERCENTAGE TO BE TAKEN FROM RESPONSE TO RFP.] The liquidated damages threshold ("LDT") is equal to the RTE Performance Metric minus 2 percentage points. The Selected RTE Test is the RTE Test that came closest to satisfying the RTE Performance Metric during the XXXX Measurement Period in question. Seller shall be liable for liquidated damages if: Where: PM = RTE Performance Metric stated as percentage RTE Ratio = RTE Ratio from Selected RTE Test stated as percentage For each percentage point by which the RTE Ratio is below the LDT, Seller shall pay, and Company shall accept, liquidated damages in an amount equal to two-tenths of one percent (0.002) of the XXXX Allocated Portion of the Lump Sum Payment for the XXXX Measurement Period in question. Each Party agrees and acknowledges that (i) the damages that Company would incur if the Seller fails to achieve the RTE Performance Metric for a XXXX Measurement Period would be difficult or impossible to calculate with certainty and (ii) the aforesaid liquidated damages are an appropriate approximation of such damages.

RTE Test and Liquidated Damages. For each XXXX Measurement Period following the Commercial Operations Date, the XXXX shall be required to complete a RTE Test or otherwise demonstrate satisfaction of the RTE Performance Metric, as more fully set forth in Attachment W (XXXX Tests) to this Agreement. For each XXXX Measurement Period for which the XXXX fails to demonstrate that it satisfies the RTE Performance Metric, Seller Subscriber Organization shall pay, and Company shall accept, as liquidated damages for such shortfall, in the amount to be calculated as provided in this Section 2.10(a) (RTE Test and Liquidated Damages), upon proper demand at the end the XXXX Measurement Period in question. The RTE Performance Metric is ___% as measured at the Point of Interconnection. [DRAFTING NOTE: PERCENTAGE TO BE TAKEN FROM RESPONSE TO RFP.] The liquidated damages threshold ("LDT") is equal to the RTE Performance Metric minus 2 percentage points. The Selected RTE Test is the RTE Test that came closest to satisfying the RTE Performance Metric during the XXXX Measurement Period in question. Seller Subscriber Organization shall be liable for liquidated damages if: Where: PM = RTE Performance Metric stated as percentage RTE Ratio = RTE Ratio from Selected RTE Test stated as percentage For each percentage point by which the RTE Ratio is below the LDT, Seller Subscriber Organization shall pay, and Company shall accept, liquidated damages in an amount equal to two-tenths of one percent (0.002) of the XXXX Allocated Portion of the Lump Sum Payment for the XXXX Measurement Period in question. Each Party agrees and acknowledges that (i) the damages that Company would incur if the Seller Subscriber Organization fails to achieve the RTE Performance Metric for a XXXX Measurement Period would be difficult or impossible to calculate with certainty and (ii) the aforesaid liquidated damages are an appropriate approximation of such damages.

RTE Test and Liquidated Damages. For each XXXX Measurement Period following the Commercial Operations Date, the XXXX shall be required to complete a RTE Test or otherwise demonstrate satisfaction of the RTE Performance Metric, as more fully set forth in Attachment W (XXXX Tests) to this Agreement. For each XXXX Measurement Period for which the XXXX fails to demonstrate that it satisfies the RTE Performance Metric, Seller shall pay, in accordance with Section 2.12 (Payment of Liquidated Damages for Failure to Achieve Performance Metrics; Limitation on Liquidated Damages), and Company shall accept, as liquidated damages for such shortfall, in the amount to be calculated as provided in this Section 2.10(a) (RTE Test and Liquidated Damages), upon proper demand at the end the XXXX Measurement Period in question. The RTE Performance Metric is ___% as measured at the Point of Interconnection. [DRAFTING NOTE: PERCENTAGE TO BE TAKEN FROM RESPONSE TO RFP.] The liquidated damages threshold ("LDT") is equal to the RTE Performance Metric minus 2 percentage points. The Selected RTE Test is the RTE Test that came closest to satisfying the RTE Performance Metric during the XXXX Measurement Period in question. Seller shall be liable for liquidated damages if: Where: PM = RTE Performance Metric stated as percentage RTE Ratio = RTE Ratio from Selected RTE Test stated as percentage For each percentage point by which the RTE Ratio is below the LDT, Seller shall pay, and Company shall accept, liquidated damages in an amount equal to two-tenths of one percent (0.002) of the XXXX Allocated Portion of the Lump Sum Payment for the XXXX Measurement Period in question. Each Party agrees and acknowledges that (i) the damages that Company would incur if the Seller fails to achieve the RTE Performance Metric for a XXXX Measurement Period would be difficult or impossible to calculate with certainty and (ii) the aforesaid liquidated damages are an appropriate approximation of such damages.