Savings Shortfalls. In the event that the Total Guarantee Year Savings in any Guarantee Year is less than the Annual Scheduled Savings, after giving credit for any Excess Savings carried forward from previous Guarantee Years pursuant to Section C.3.1.4, Honeywell shall, upon receipt of written demand from Customer, compensate Customer the amount of any such shortfall, in such form as agreed to by the parties, limited by the total value of the Guaranteed Savings, within sixty (60) days. Resulting compensation shall be Honeywell’s sole liability for any shortfall in the Guaranteed Savings. In case of a shortfall, Honeywell reserves the right, subject to Customer approval, which shall not be unreasonably withheld, to implement additional operational improvements or conservation measures, at no cost to Customer, that will generate additional savings in future years of the Guarantee Term, and Honeywell has the option of extending its M&V Services to verify successful performance.
Savings Shortfalls. (a) Subject to Clause 7.6, if the guaranteed energy savings or the guaranteed energy cost savings are not achieved in any guarantee year, the Contractor shall pay to the Customer the amount of the shortfall within fourteen (14) days of the date of acceptance of the audit report by the Customer for that year. The Contractor agrees that the amount of the shortfall has been negotiated on an arms length basis by the parties and represents a genuine pre‐estimate of the loss that the Customer will suffer as a result of the guaranteed energy savings not being achieved.
(b) Without in any way limiting the Customer’s other rights under this Agreement, the payment obligation specified in Clause 7.5(a) shall be the Contractor’s sole liability to the Customer for any shortfall in guaranteed energy savings or the guaranteed energy cost savings, as referred to in Clause 13.2.
(c) Where the Contractor can correct a shortfall through an operational improvement at no material expense or material inconvenience to the Customer and with no future operational expenses and the Customer declines to allow such operational improvement any future savings shortfalls that the improvement would have corrected will be negated.
Savings Shortfalls. Subject to Clause 7.4, if the Guaranteed Energy Savings or the Guaranteed Energy Cost Savings are not achieved in any Guarantee Year, the ESCO shall pay to the Agency the amount of the shortfall within fourteen (14) days of the date of acceptance of the audit report by the Agency for that year. The ESCO agrees that the amount of the shortfall has been negotiated on an arm's length basis by the parties and represents a genuine pre-estimate of the loss that the Agency will suffer as a result of the Guaranteed Energy Savings not being achieved. Without in any way limiting the Agency’s other rights under this Agreement, the payment obligation specified in Clause 7.3(a) shall be the ESCO’s sole liability to the Agency for any shortfall in Guaranteed Energy Savings or the Guaranteed Energy Cost Savings. Where the ESCO can correct a shortfall through an operational improvement at no material expense or material inconvenience to the Agency and with no future operational expenses and the Agency declines to allow such operational improvement any future savings shortfalls that the improvement would have corrected will be negated. If the ESCO has made shortfall payments to the Agency under Clause 7.3(a) in any Guarantee Year and the actual savings in Energy Consumption or the savings in operational costs in any subsequent Guarantee Year exceed the Guaranteed Energy Savings or the Guaranteed Energy Cost Savings for that year then the Agency will reimburse the ESCO for the shortfall payments up to the amount of the excess. Payment will be made within thirty (30) days of notice being given by the ESCO to the Agency of the excess in actual savings. If a payment is due by the Agency under Clause 7.4(a), the ESCO must submit a valid invoice to the Agency for the amount owing which shall be paid in accordance with Clause 10.1. Energy and operational savings or cost savings achieved during the first year of the Performance Guarantee Period, that in total exceed the Guaranteed Energy Savings or Guaranteed Energy Cost Savings for that year, will be offset against any shortfalls in subsequent guarantee years. The Agency must pay the Measurement and Verification Fee to the ESCO as specified in Schedule 1 As security for the ESCO’s performance of the EPC Solutions Works the ESCO must provide to the Agency the EPC Solutions Works Security within fourteen (14) days after the Agency accepts the Works Specification.
Savings Shortfalls. If an Annual Savings Shortfall occurs for any one Performance Year of the Guarantee Period, Quandel shall, at its discretion and in any combination:
(i) set off the amount of such shortfall against any unpaid balance Owner then owes to Quandel,
(ii) where permitted by applicable law, increase the next year’s amount of Annual Savings by the amount of such shortfall,
(iii) pay to Owner the amount of such shortfall, or
(iv) subject to Owner’s agreement, provide to Owner additional products or services, in the value of such shortfall, at no additional cost to Owner.
Savings Shortfalls. In the event that the Measured Savings in any Guarantee Year is less than the Guaranteed Savings for that Guarantee Year, HONEYWELL shall, compensate CUSTOMER the amount of any such shortfall, as determined in accordance with Section 6 below, within forty-five (45) days. Resulting compensation shall be HONEYWELL’s sole liability for any shortfall in the Guaranteed Savings. In case of a shortfall, HONEYWELL may, at no cost to CUSTOMER and subject to CUSTOMER’S written authorization, correct deficiencies in the Work that it believes have created the shortfall and/or implement additional operational improvements or conservation measures that will generate additional savings in future Guarantee Years.
Savings Shortfalls. Any Saving Shortfalls will be reconciled on an annual basis in accordance with the terms and conditions of Section 1.1 and 1.2 of this Appendix 3A.
Savings Shortfalls. If the Annual Savings during a specific year of the Guarantee Term are less than the Annual Guaranteed Savings for that year, GRP|WEGMAN will at the District's written election, pay the District the Shortfall amounts o r upon the mutual agreement of the parties, GRP|WEGMAN may also provide additional products or services, in the value of the shortfall, at no additional cost to the District. Where shortfalls have occurred, GRP|WEGMAN reserves the right, subject to the approval of the District, which shall not be unreasonably withheld, to implement additional operational improvements or conservation measures, at no cost to the District that shall generate additional savings in future years of the Guarantee Term. The following Exhibit is attached and made part of the schedule: Exhibit 1: Stipulated Savings Exhibit 2: Construction Years Exhibit 3: Mechanical Layout The savings identified below shall be Stipulated Savings (as defined above) under this Schedule. These savings are based on the verification approach prescribed for projects in which year over year savings are stipulated based on procedures for verifying that (1) baseline conditions have been defined; (2) the Work and equipment contracted to be installed have been installed; (3) installed Work and equipment , as completed at the end of construction, meets the requirements of the Contract in terms of quality; and (4) installed Work and equipment is operating and performing in accordance with the requirements of the Contract and the Contract Documents. This protocol is based on the guidelines for measurement and verification contained in the guidelines of the Federal Energy Management Program of the U.S. Department of Energy.
Savings Shortfalls. 7.3.1 As further described in Attachment F, HONEYWELL shall reimburse CUSTOMER annually for guaranteed Annual Savings shortfalls.
Savings Shortfalls. In the event that the Total Guarantee Year Savings in any Guarantee Year is less than the Guaranteed Savings required for that Guarantee Year Honeywell shall, upon receipt of written demand from Customer, compensate Customer the amount of any such shortfall, in such form as agreed to by the parties, limited to the value of the Guarantee, within forty-five (45) days. Resulting compensation shall be Xxxxxxxxx’s sole liability for any shortfall in the Guaranteed Savings. In case of a shortfall, Honeywell reserves the right, subject to Customer approval, which shall not be unreasonably withheld, to implement additional operational improvements or conservation measures, at no cost to Customer, that will generate additional savings in future years of the Guarantee Term and Honeywell has the option of extending M&V analysis to verify successful performance.
Savings Shortfalls. In the event that the Total Energy and Operational Savings in any Guarantee Year is less than the Guaranteed Savings required for that Guarantee Year, Con Edison Solutions shall, compensate City the amount of any such shortfall, limited by the value of the guarantee, within thirty (30) days.
1. Customer agrees to pay to ConEdison Solutions, an amount equal to the Contract Cost, as listed in Table G1, in accordance with the terms described in Section 3 of the Agreement and Schedule I Schedule of Values.
2. Annual Services Fee: Customer shall pay ConEdison Solutions for annual services provided under this Agreement for which the Parties mutually agree to have ConEdison Solutions perform. Cost Adjustments, as described in Schedule F, will be applied to each year following the first year of the Annual Services. Table G1 Contract Costs Building Lighting Upgrades $6,814,134.71 Monitor AITE Ice Storage System $94,431.28 Street Lighting $2,060,135.00 Cooling Tower Replacement at Stamford Government Center $1,928,343.27 HVAC DX Units Retro-Commissioning at Stamford Government Center $271,521.83 Note: The Contract Cost for the HVAC DX Units Retro-Commissioning at Stamford Government Center includes an actual cost for the pre-inspection scope of work described in Schedule B, and an allowance to conduct repairs as a result of recommendations based on the site inspection. The actual cost of pre-inspection is $50,024.00; the allowance for repairs is $221,497.83. Table G2 Annual Services Fee Measurement and Verification Costs Cost Year 1 Measurement and Verification Costs $19,330 Year 2 M&V Cost $19,330 Year 3 M&V Cost Option for Years 4 through 10 (if selected by customer) $19,330 $19,330 Installation Schedule to be submitted by ConEdison Solutions within ten (10) days of receipt of Notice to Proceed for each ECM. The Schedule shall be mutually agreeable and approved by the City in writing no more than ten (10) business days from receipt and prior to ConEdison Solutions starting the work. All work shall be properly coordinated with other trades, city officials, and the Engineering Department to avoid schedule conflicts, occupant and property hazards and construction interference. The installation schedule may be modified by the written agreement of the Parties and shall not constitute an amendment to the Agreement that requires the approval of the Board of Finance and the Board of Representatives of the City of Stamford. ConEdison Solutions will be required to receive w...
