Actual Module Performance definition

Actual Module Performance means the performance of the Photovoltaic Modules to be determined based upon the test performed according to the standards set forth in the Approved Test.
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Actual Module Performance means the performance of the Photovoltaic Modules to bedetermined based upon the test performed according to the standards set forth in the Approved Test. “Application” means the executed application submitted by the Insured in connection with the underwriting of this Policy (including Questionnaires, flash data sheets, etc.). “Approved Test” means a statistical sample test of the respective modules carried out by an independent expert approved by the Insurer to prove a decrease of the power output of a Photovoltaic Module which is due to Faulty Manufacturing, Material Defect and/or Material Aging. For the purpose of determining the power output, measurements shall be carried out in accordance with the requirements set forth in the Performance Warranty. All relevant measurement uncertainties and statistical errors must be duly taken into account. Any results of an Approved Test shall be adjusted in favour of the Insurer using a measurement uncertainty of 3%. However, if at any point during the Indemnity Period, a more accurate testing mechanism/procedure is created to determine the power output of photovoltaic modules, and said testing mechanism/procedure is considered accepted within the photovoltaic industry to be an accurate testing method, the Insured and the Insurer shall work together in good faith to renegotiate the measurement uncertainty to correlate with then industry standards.
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Related to Actual Module Performance

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  • Underlying Performance means in relation to the Valuation Date a decimal number calculated by applying the following formula: UP =Underlying FINAL Underlying INITIAL where: UP = Underlying Performance with respect to the Valuation Date UnderlyingFINAL UnderlyingINITIAL= Reference Price of the Underlying with respect to the Valuation Date = Initial Price of the Underlying

  • Key Performance Indicator means a measure that captures the performance of a critical variable to expand and improve community-based corrections programs to promote offender success, ensure accountability, enhance public safety, and reduce recidivism.

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  • Annual performance report means a written appraisal of the teaching staff member's performance prepared by the teaching staff member’s designated supervisor based on the evaluation rubric for his or her position.

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