Shortfall Charge Sample Clauses

Shortfall Charge. In the event that Xxxx Atlantic has failed to satisfy the Interim Purchase Commitment by the end of the third year following the Effective Date, and to the extent such failure is not proximately caused by negligent or otherwise wrongful acts or omissions of Genuity or any Genuity agent or by Genuity's breach of the Agreement, or is not otherwise excused under the Agreement (e.g., Force majeure), Xxxx Atlantic shall pay Genuity the difference between the Interim Purchase Commitment and the total of the Included Items specified in Section A, above, for years 1 through 3 (the "Interim Shortfall Charge"). In the event that Xxxx Atlantic has failed to satisfy the Purchase Commitment by the end of the Initial Term, and to the extent such failure is not proximately caused by negligent or otherwise wrongful acts or omissions of Genuity or any Genuity agent or by Genuity's breach of the Agreement, or is not otherwise excused under the Agreement (e.g., Force majeure), Xxxx Atlantic shall pay Genuity the difference between: (i) the Purchase Commitment less any Interim Shortfall Charge; and (ii) and the total of the Included Items specified in A, above for the Initial Term (the "Shortfall Charge").
Sample 1Sample 2
AutoNDA by SimpleDocs
Shortfall Charge. 3.6.1 If, following Provisional Acceptance / Completion of Performance Testing, the Installed Capability of the Providing Units is less than the Contracted Maximum Available Volume Threshold, then the Service Provider will be liable to pay to the Company liquidated damages in the amount of €106,000 (one hundred and six thousand euro) per/MVA.s in respect of each MVA.s that the Installed Capability is less than the Contracted Maximum Available Volume Threshold (the “Shortfall Charge”), whereupon”). 3.6.13.6.2 If, following Provisional Acceptance / Completion of Performance Testing, the Installed Capability of the Providing Units is less than the Contracted Maximum Available Volume, then the Contracted Maximum Available Volume shall for all purposes be equal to the Installed Capability on the Go-Live Date. For the avoidance of doubt, the Contracted Maximum Available Volume shall only be so adjusted if the Installed Capability of the Providing Unit is less than the Contracted Maximum Available Volume following Provisional Acceptance / Completion of Performance Testing.
Sample 1
Shortfall Charge. Shortfall Charge means the greater of zero and the amount calculated using the below formula: [MinC – TAC] x [LWER – LWP] or Shoulder Time (as applicable) up until the Firm Renewable Allocation (as specified in the Schedule). For the avoidance of doubt, this charge will only be billed in respect of energy consumed, and will not apply to any shortfall in any month between the amount of energy consumed at a Site and the Firm Renewable Allocation of that Site in the Peak Time, Shoulder Time and Off Peak Time. This charge applies to consumption up to the relevant Firm Renewable Allocation of a Site regardless of changes in the output of the Generator under the PSMA within its ordinary range of operations. Renewable Energy Rate means the Renewable Energy Rate as specified in the Schedule. where: MinC TAC = = Minimum Consumption. Total amount of electricity sold to all Sites for an Agreement Year for New South Wales (in MWh). LWP = Load Weighted Average of the National Electricity Market spot price of New South Wales for the Agreement Year (in $/MWh). LWER = Load Weighted Average of the applicable Energy Rates for the Agreement Year for New South Wales(in $/MWh).
Sample 1
Shortfall Charge. 3.6.1 If, following Provisional Acceptance / Completion of Performance Testing, the Installed Capability of the Providing Units is less than the Contracted Maximum Available Volume, then the Service Provider will be liable to pay to the Company liquidated damages in the amount of €106,000 (one hundred and six thousand euro) per/MVA.s in respect of each MVA.s that the Installed Capability is less than the Contracted Maximum Available Volume (the “Shortfall Charge”), whereupon the Contracted Maximum Available Volume shall for all purposes be equal to the Installed Capability on the Go-Live Date. For the avoidance of doubt, the Contracted Maximum Available Volume shall only be so adjusted if the Installed Capability of the Providing Unit is less than the Contracted Maximum Available Volume following Provisional Acceptance / Completion of Performance Testing.
Sample 1

Related to Shortfall Charge

  • Service Charge The Tenant must pay the Service Charge in accordance with Part 1 of Schedule 3. VAT The Tenant must pay: VAT on any consideration in respect of a VAT Supply to the Tenant by the Landlord at the same time as the consideration is paid; and on demand VAT (and interest, penalties and costs where these are incurred because of anything the Tenant does or fails to do) charged in respect of any VAT Supply to the Landlord in respect of the Premises where that VAT is not recoverable by the Landlord from HM Revenue & Customs. The Tenant must not do anything that would result in the disapplication of the option to tax in respect of the Landlord’s interest in the Estate. Interest on overdue payments The Tenant must pay interest on the Rents and on all other sums not paid on or by the due date (or, if no date is specified, not paid within 10 Business Days after the date of demand). Interest will be payable at the Interest Rate for the period starting on the due date (or date of demand) and ending on the date of payment. Reimburse costs incurred by the Landlord The Tenant must pay on demand the Landlord’s costs (including legal and surveyor’s charges and bailiff’s and enforcement agent’s fees) and disbursements in connection with: any breach of the Tenant’s obligations in this Lease, including the preparation and service of a notice under section 146 of the 1925 Act; any application by the Tenant for consent under this Lease, whether that application is withdrawn or consent is granted or lawfully refused, except in cases where the Landlord is required to act reasonably and the Landlord unreasonably refuses to give consent; [and] [carrying out works to the Premises to improve their Environmental Performance where the Tenant, in its absolute discretion, has consented to the Landlord doing so; and]44 the preparation and service of a schedule of dilapidations served no later than six months after the End Date. Third party indemnity45 The Tenant must indemnify the Landlord against all actions, claims, demands made by a third party, all costs, damages, expenses, charges and taxes payable to a third party and the Landlord’s own liabilities, costs and expenses incurred in defending or settling any action, claim or demand in respect of any personal injury or death, damage to any property and any infringement of any right, in each case arising from: the state and condition of the Premises or the Tenant’s use of them; the exercise of the Tenant’s rights; or the carrying out of any Permitted Works. In respect of any claim covered by the indemnity in clause 4.7.1, the Landlord must: give formal notice to the Tenant of the claim as soon as reasonably practicable after receiving notice of it; provide the Tenant with any information and assistance in relation to the claim that the Tenant may reasonably require and the Landlord is lawfully able to provide, subject to the Tenant paying to the Landlord all costs incurred by the Landlord in providing that information and assistance; and mitigate its loss (at the Tenant’s cost) where it is reasonable for the Landlord to do so.

  • Shortfall If, on any date, the Outstanding Advances shall exceed the Maximum Advance Amount (such excess, the "Shortfall Amount"), then the Customer shall on such date prepay the Outstanding Advances in an amount equal to such Shortfall Amount.

  • No charge The provisions of this clause 13 shall not, and shall not be construed so as to, constitute a charge by a Bank over all or any part of a sum received or recovered by it in the circumstances mentioned in clause 13.3.

  • Sales Charge Shares shall be sold by you at net asset value plus a front-end sales charge not in excess of 8.5% of the offering price, but which front-end sales charge shall be proportionately reduced or eliminated for larger sales and under other circumstances, in each case on the basis set forth in the current Prospectus and/or SAI. The redemption proceeds of shares offered and sold at net asset value with or without a front-end sales charge may be subject to a contingent deferred sales charge ("CDSC") under the circumstances described in the current Prospectus and\or SAI. You may reallow such portion of the front-end sales charge to dealers or cause payment (which may exceed the front-end sales charge, if any) of commissions to brokers through which sales are made, as you may determine, and you may pay such amounts to dealers and brokers on sales of shares from your own resources (such dealers and brokers shall collectively include all domestic or foreign institutions eligible to offer and sell the Shares), and in the event the Fund has more than one Series or class of Shares outstanding, then you may impose a front-end sales charge and/or a CDSC on Shares of one Series or one class that is different from the charges imposed on Shares of the Fund's other Series or class(es), in each case as set forth in the current Prospectus and/or SAI, provided the front-end sales charge and CDSC to the ultimate purchaser do not exceed the respective levels set forth for such category of purchaser in the current Prospectus and/or SAI.

  • Maximum Charges In no event whatsoever shall interest and other charges charged hereunder exceed the highest rate permissible under law. In the event interest and other charges as computed hereunder would otherwise exceed the highest rate permitted under law, such excess amount shall be first applied to any unpaid principal balance owed by Borrowers, and if the then remaining excess amount is greater than the previously unpaid principal balance, Lenders shall promptly refund such excess amount to Borrowers and the provisions hereof shall be deemed amended to provide for such permissible rate.

  • No Service Charge None of the Issuer, the Note Registrar or the Indenture Trustee will impose a service charge on a Noteholder for the registration of transfer or exchange of Notes. The Issuer, the Note Registrar or the Indenture Trustee may require the Noteholder to pay an amount to cover taxes or other governmental charges that may be imposed for the registration of transfer or exchange of the Notes.

  • Security shortfall If at any time the Security Value is less than the Minimum Value, the Agent may, and shall, if so directed by the Majority Lenders, by notice to the Borrowers require that such deficiency be remedied. The Borrowers shall then within 30 days of receipt of such notice ensure that the Security Value equals or exceeds the Minimum Value. For this purpose, the Borrowers may:

  • Service Charges No service charge shall be made for any exchange or registration of transfer of Warrants.

  • Bank Charges Borrowers shall pay to Agent, on demand, any and all fees, costs or expenses which Agent or any Lender pays to a bank or other similar institution arising out of or in connection with (i) the forwarding to any Borrower or any other Person on behalf of any Borrower, by Agent or any Lender, of proceeds of Loans made to Borrowers pursuant to this Agreement and (ii) the depositing for collection by Agent or any Lender of any check or item of payment received or delivered to Agent or any Lender on account of the Obligations.

  • Loan Charges Neither this Note nor any of the other Loan Documents shall be construed to create a contract for the use, forbearance or detention of money requiring payment of interest at a rate greater than the Maximum Interest Rate. If any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower in connection with the Loan is interpreted so that any interest or other charge provided for in any Loan Document, whether considered separately or together with other charges provided for in any other Loan Document, violates that law, and Xxxxxxxx is entitled to the benefit of that law, that interest or charge is hereby reduced to the extent necessary to eliminate that violation. The amounts, if any, previously paid to Lender in excess of the permitted amounts shall be applied by Lender to reduce the unpaid principal balance of this Note. For the purpose of determining whether any applicable law limiting the amount of interest or other charges permitted to be collected from Borrower has been violated, all Indebtedness that constitutes interest, as well as all other charges made in connection with the Indebtedness that constitute interest, shall be deemed to be allocated and spread ratably over the stated term of this Note. Unless otherwise required by applicable law, such allocation and spreading shall be effected in such a manner that the rate of interest so computed is uniform throughout the stated term of this Note.

Time is Money Join Law Insider Premium to draft better contracts faster.