Terms of settlement, etc Sample Clauses

Terms of settlement, etc. The main principles for the financial terms for settlement are described below (points 8.1.-8.14), see otherwise the provisions of the RE Act. 8.1. A premium shall be granted (”contract for difference”) for electricity produced at Kriegers Flak electricity production plant in the Baltic Sea. The premium shall be calculated per hour as the difference between the price per kWh tendered by the Concessionaire of 37.2 øre/kWh and the spot price of electricity in the relevant area. The total premium in a given hour shall be the product of the premium and the output measured in that hour. The spot price of electricity shall mean the hourly rate per kWh on the spot market in the relevant electricity grid price area (DK 2) stated by the Nordic electricity exchange, Nordpool. 8.2. The kWh-price tendered by the Concessionaire of 37.2 øre/kWh shall not be indexed. 8.3. If at least 95% of the planned capacity of the wind farm is connected to the grid prior to 1 January 2022, the premium mentioned shall be granted for electricity production corresponding to a production of 30 TWh. If less than 95% of the capacity of the wind farm is connected to the grid at this time, the production eligible for premium shall be reduced by 0.3 TWh to 29.7 TWh. For each six month-period thereafter in which at least 95% of the projected capacity is still not connected to the grid, the production eligible for supplement thereafter will 8.4. Premiums shall not be granted for production in hours when the spot price is not positive. However, the production shall not be included as part of the production eligible for premium. 8.5. Payment shall be made on a monthly basis and shall be made by Xxxxxxxxx.xx. 8.6. If the Concessionaire is to pay a feed-in tariff for transmission of electricity to the main electricity supply grid, a premium shall be granted corresponding to this tariff. The premium mentioned shall be granted for electricity production corresponding to the production described under 8.3 above. 8.7. If the market price (the hourly rate on the spot market) of electricity produced at the plant exceeds DKK 37.2 øre per kWh, Xxxxxxxxx.xx shall calculate a negative premium. Any negative premium shall not be charged but set off against the next positive premium. There is no limitation in the length of the period in which negative premiums can be calculated. 8.8. The Concessionaire itself shall ensure the sale of the production in the electricity market and pay costs in this connection. 8.9...
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Terms of settlement, etc. The main principles for the financial terms for settlement are described below (points 9.1.-9.24.), see also a more detailed description of the subsidy scheme in annex 3.9. 9.1 A price premium will be paid for 20 years for electricity produced by Thor Offshore Wind Farm, calculated as the difference between the bid-price, see point 9.3, and a reference price, where the reference price is determined as stated in point 9.2. 9.2 The reference price is fixed for a period of 12 months and calculated as a simple average of the electricity prices in the previous calendar year running from 1 January to 31 December. The electricity prices are the spot price for electricity in the area concerned. Hours with electricity prices of zero or below (i.e. non-positive prices) are included in the calculation of the reference price. 9.3 The kWh price offered by the Concessionaire [XX - insert the offer from the successful tenderer], see annex 8, will not be indexed. 9.4 Price premium will not be paid for production in hours when the spot price is not positive. 9.5 The Concessionaire receives price premiums in years in which the bid price is higher than the reference price, but correspondingly pays the state in years in which the reference price is higher than the bid price, cf. point 9.8. 9.6 The price premium and the payments to the state are calculated annually at the beginning of the year, and all payments are in Danish kroner (DKK) and made monthly in arrears by the Danish Energy Agency to the Concessionaire’s account or vice versa. 9.7 If the Concessionaire is to pay a feed-in tariff for transmission of electricity to the main electricity supply grid, a price premium will be granted in the subsidy period corresponding to this tariff, however, only within the absolute payment cap for the state of DKK 6.5 bn. (2018-prices), cf. point
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Related to Terms of settlement, etc

  • TERMS OF SETTLEMENT The Respondent agrees to the following terms of settlement:

  • ADDITIONAL TERMS OF SETTLEMENT 24. This settlement is agreed upon in accordance with section 24.4 of MFDA By-law No. 1 and Rules 14 and 15 of the MFDA Rules of Procedure. 25. The Settlement Agreement is subject to acceptance by the Hearing Panel which shall be sought at a hearing (the “Settlement Hearing”). At, or following the conclusion of, the Settlement Hearing, the Hearing Panel may either accept or reject the Settlement Agreement. MFDA Settlement Hearings are typically held in the absence of the public pursuant to section 20.5 of MFDA By-law No. 1 and Rule 15.2(2) of the MFDA Rules of Procedure. If the Hearing Panel accepts the Settlement Agreement, then the proceeding will become open to the public and a copy of the decision of the Hearing Panel and the Settlement Agreement will be made available at xxx.xxxx.xx. 26. The Settlement Agreement shall become effective and binding upon the Respondent and Staff as of the date of its acceptance by the Hearing Panel. Unless otherwise stated, any monetary penalties and costs imposed upon the Respondent are payable immediately, and any suspensions, revocations, prohibitions, conditions or other terms of the Settlement Agreement shall commence, upon the effective date of the Settlement Agreement. 27. Staff and the Respondent agree that if this Settlement Agreement is accepted by the Hearing Panel: a) the Settlement Agreement will constitute the entirety of the evidence to be submitted respecting the Respondent in this matter; b) the Respondent waives any rights to a full hearing, a review hearing before the Board of Directors of the MFDA or any securities commission with jurisdiction in the matter under its enabling legislation, or a judicial review or appeal of the matter before any court of competent jurisdiction; c) Staff will not initiate any proceeding under the By-laws of the MFDA against the Respondent in respect of the contraventions described in this Settlement Agreement. Nothing in this Settlement Agreement precludes Staff from investigating or initiating proceedings in respect of any contraventions that are not set out in this Settlement Agreement. Furthermore, nothing in this Settlement Agreement shall relieve the Respondent from fulfilling any continuing regulatory obligations; d) the Respondent shall be deemed to have been penalized by the Hearing Panel pursuant to

  • Form of Settlement Notwithstanding any discretion contained in the Plan or anything to the contrary in the Agreement, the RSUs are payable in Shares only.

  • Time of Settlement RSUs shall be settled promptly upon expiration of the Restricted Period without forfeiture of the RSUs (i.e., upon vesting), but in any event within 60 days after expiration of the Restricted Period, by delivery of one share of Common Stock for each RSU being settled, or, at the discretion of the Company, the cash equivalent thereof; provided, however, that settlement of an RSU shall be subject to Plan Section 11(k), including if applicable the six-month delay rule in Plan Sections 11(k)(i)(C)(2) and 11(k)(i)(G); provided further, that no dividend or dividend equivalents will be paid, accrued or accumulated in respect of the period during which settlement was delayed. (Note: This rule may apply to any portion of the RSUs that vest after the time you become Retirement eligible under the Plan, and could apply in other cases as well). Settlement of RSUs which directly or indirectly result from adjustments to RSUs shall occur at the time of settlement of, and subject to the restrictions and conditions that apply to, the granted RSUs. Settlement of cash amounts which directly or indirectly result from adjustments to RSUs shall be included as part of your regular payroll payment as soon as administratively practicable after the settlement date for the underlying RSUs, and subject to the restrictions and conditions that apply to, the granted RSUs. Until shares are delivered to you in settlement of RSUs, you shall have none of the rights of a stockholder of the Company with respect to the shares issuable in settlement of the RSUs, including the right to vote the shares and receive actual dividends and other distributions on the underlying shares of Common Stock. Shares of stock issuable in settlement of RSUs shall be delivered to you upon settlement in certificated form or in such other manner as the Company may reasonably determine. At that time, you will have all of the rights of a stockholder of the Company.

  • NON-ACCEPTANCE OF SETTLEMENT AGREEMENT If, for any reason whatsoever, this Settlement Agreement is not accepted by the Hearing Panel or an Order in the form attached as Schedule “A” is not made by the Hearing Panel, each of Staff and the Respondent will be entitled to any available proceedings, remedies and challenges, including proceeding to a disciplinary hearing pursuant to sections 20 and 24 of By- law No. 1, unaffected by this Settlement Agreement or the settlement negotiations.

  • Basis of Settlement Unless otherwise provided, the Insurer is not liable beyond the actual cash value of the property at the time any loss or damage occurs and the loss or damage shall be ascertained or estimated according to such actual cash value with proper deduction for depreciation, however caused, and shall in no event exceed what it would then cost to repair or replace the same with material of like kind and quality.

  • Application of Settlement Agreement 10.1 This Settlement Agreement shall apply to, be binding upon, and inure to the benefit of, CAG and the Releasees and Downstream Releasees identified in Section 2 above.

  • Modification of Settlement Agreement Any modification to this Settlement Agreement shall be in writing and signed by the Parties.

  • The Settlement Following mediation with a neutral party, a Settlement has been reached. As part of the Settlement, a Qualified Settlement Fund of $39,500,000 will be established to resolve the Class Action. The Net Settlement Amount is $39,500,000 minus any Administrative Expenses (including taxes and tax expenses), Court-approved Attorneys’ Fees and Costs, and Class Representative Compensation. The Net Settlement Amount will be allocated to Class Members according to a Plan of Allocation to be approved by the Court.

  • Payment of Settlement Amount (1) Within thirty (30) days of the Execution Date, the Settling Defendants shall pay the Settlement Amount to Siskinds LLP for deposit into the Trust Account. The Settlement Amount shall be converted into Canadian currency upon deposit into the Trust Account. (2) The Settling Defendants shall deposit the Settlement Amount into the Trust Account by wire transfer. Siskinds LLP shall provide the necessary wire transfer information to Counsel for the Settling Defendants with reasonable advance notice so that the Settling Defendants have a reasonable period of time to comply with section 3.1(1) of this Settlement Agreement. (3) The Settlement Amount and other consideration to be provided in accordance with the terms of this Settlement Agreement shall be provided in full satisfaction of the Released Claims against the Releasees. (4) The Settlement Amount shall be all-inclusive of all amounts, including without limitation, interest, costs, Class Counsel Fees and Class Counsel Disbursements. (5) The Releasees shall have no obligation to pay any amount in addition to the Settlement Amount, for any reason, pursuant to or in furtherance of this Settlement Agreement or the Proceedings or any Other Actions. (6) Once a Claims Administrator has been appointed, Siskinds LLP shall transfer control of the Trust Account to the Claims Administrator. (7) Siskinds LLP and the Claims Administrator shall maintain the Trust Account as provided for in this Settlement Agreement. While in control of the Trust Account, Siskinds LLP and the Claims Administrator shall not pay out all or part of the monies in the Trust Account, except in accordance with this Settlement Agreement, or in accordance with an order of the Courts obtained after notice to the Parties.

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