Base Residual definition

Base Residual means the lowest of (i) the Contract Residual, (ii) the ALG Residual, and (iii) the MRM Residual.
Base Residual means, with respect to any Equipment, (i) in the case of a Lease that was not terminated prior to its Expiration Date, the greater of (A) NFS’s actual Booked Residual for such Equipment in connection with such Lease or (B) twenty percent (20%) of the Original Equipment Cost for such Equipment, and (ii) in the case of a Lease that has been terminated prior to its Expiration Date, the greater of (A) the amount that is due to NFS from the Lessee with respect to such Equipment upon such termination or (B) twenty percent (20%) of the Original Equipment Cost for such Equipment.
Base Residual means the lowest of (i) the ALG Residual (“ALG Residual”) established in November-December 2023 as a

Examples of Base Residual in a sentence

  • If a Sell Offer specifies a minimum block, and only a portion of such block is needed to clear the market in a Base Residual or Incremental Auction, the MW portion of such Sell Offer needed to clear the market shall clear, and such Sell Offer shall set the marginal value of system capacity.

  • The cost for any such Resource Make-Whole Payments required in a Base Residual Auction or Incremental Auction for adjustment of prior capacity commitments shall be collected pro rata from all LSEs in the LDA in which such payments were made, based on their Daily Unforced Capacity Obligations.

  • For each Base Residual Auction and Incremental Auction, the Office of the Interconnection shall calculate a clearing price to be paid for each megawatt-day of Unforced Capacity that clears in such auction.

  • For Price Responsive Demand specified in section IV.A, the credit requirement shall be based on the Nominal PRD Value (stated in Unforced Capacity terms) times the Price Responsive Demand Credit Rate as set forth in section IV.E. Except for Credit-Limited Offers, the RPM Auction Credit Requirement for a Market Seller will be reduced for any Delivery Year to the extent less than all of such Market Seller’s offers clear in the Base Residual Auction or any Incremental Auction for such Delivery Year.

  • Except forCredit-Limited Offers, the RPM Auction Credit requirement for a Market Participant will be reduced for any Delivery Year to the extent less than all of such Market Participant’s offers clear in the Base Residual Auction or any Incremental Auction for such Delivery Year.

  • The Office of the Interconnection shall establish the Preliminary PJM Region Load Forecast for the Delivery Year in accordance with the PJM Manuals by February 1, prior to the conduct of the Base Residual Auction for such Delivery Year.

  • The Office of Interconnection shall establish locational requirements prior to the Base Residual Auction to quantify the amount of Unforced Capacity that must be committed in each Locational Deliverability Area, in accordance with the PJM Reliability Assurance Agreement.

  • The RPM Auction Credit Requirement for a Market Seller will be reduced for any Delivery Year to the extent less than all of such Market Seller’s offers clear in the Base Residual Auction or any Incremental Auction for such Delivery Year.

  • For each Conditional Incremental Auction, the optimization algorithm shall consider: • The quantity and location of capacity required to address the identified reliability concern that gave rise to the Conditional Incremental Auction; • All applicable Capacity Import Limits; • the same Capacity Emergency Transfer Limits that were modeled in the Base Residual Auction, or any updated value resulting from a Conditional Incremental Auction; and • the Sell Offers submitted in such auction.

  • For purposes of Incremental Auctions for the 2015/2016, 2016/2017 and 2017/2018 Delivery Years, the MOPR Floor Offer Price shall be the same as that used in the Base Residual Auction for such Delivery Year.


More Definitions of Base Residual

Base Residual means the lowest of (i) the ALG Residual (“ALG Residual”) established in [ ] 20[ ] as a “mark-to-market” value,
Base Residual means, for each Leased Vehicle related to an Included Unit, the lesser of (a) the residual value established by the Automotive Lease Guide at the time of origination of the related Lease or (b) the Stated Residual Value of the related Vehicle.

Related to Base Residual

  • Base Residual Auction means the auction conducted three years prior to the start of the Delivery Year to secure commitments from Capacity Resources as necessary to satisfy any portion of the Unforced Capacity Obligation of the PJM Region not satisfied through Self- Supply.

  • Base Residual Value means, for a Lease, the lower of (a) the Contract Residual Value of the Lease and (b)(i) the ALG Residual Value of the related Leased Vehicle or (ii) if the Servicer does not have an ALG Residual Value, the oldest ALG MTM Residual Value that the Servicer has for the related Leased Vehicle.

  • ALG Residual Value means the residual value of the vehicle set forth as the ALG Residual Value in the Lease schedule attached as Exhibit A hereto, which shall be the lesser of (i) the ALG residual values of the 2015-2 Vehicles at the scheduled termination of the related 2015-2 Leases at the time the related 2015-2 Lease was signed and (ii) the ALG residual values of the 2015-2 Vehicles at the scheduled termination of the related 2015-2 Leases provided by ALG in August 2015.

  • Lower-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Lower-Tier REMIC and evidenced by the Class R Certificates.

  • Upper-Tier Residual Interest The sole class of “residual interests”, within the meaning of Code Section 860G(a)(2), in the Upper-Tier REMIC and evidenced by the Class R Certificates.

  • Class C operator means the individual responsible for initially addressing emergencies presented by a spill or release from an UST system. The Class C operator typically controls or monitors the dispensing or sale of regulated substances.

  • Class R-1 Residual Interest The uncertificated undivided beneficial interest in REMIC I which has been designated as the single class of “residual interest” in REMIC I pursuant to Section 2.06.

  • Residual Auction Revenue Rights means incremental stage 1 Auction Revenue Rights created within a Planning Period by an increase in transmission system capability, including the return to service of existing transmission capability, that was not modeled pursuant to Operating Agreement, Schedule 1, section 7.5 and the parallel provisions of Tariff, Attachment K- Appendix, section 7.5 in compliance with Operating Agreement, Schedule 1, section 7.4.2 (h) and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.2(h), and, if modeled, would have increased the amount of stage 1 Auction Revenue Rights allocated pursuant to Operating Agreement, Schedule 1, section 7.4.2 and the parallel provisions of Tariff, Attachment K-Appendix, section 7.4.2; provided that, the foregoing notwithstanding, Residual Auction Revenue Rights shall exclude: 1) Incremental Auction Revenue Rights allocated pursuant to Tariff, Part VI; and 2) Auction Revenue Rights allocated to entities that are assigned cost responsibility pursuant to Operating Agreement, Schedule 6 for transmission upgrades that create such rights.

  • Class R-2 Residual Interest The uncertificated undivided beneficial interest in REMIC II which has been designated as the single class of “residual interest” in REMIC II pursuant to Section 2.11. The Class R-2 Residual Interest, together with the REMIC II Regular Interests, shall be deemed to be a separate series of beneficial interests in the assets of the Trust consisting of the REMIC II Assets pursuant to Section 3806(b)(2) of the Statutory Trust Statute.

  • Master REMIC As described in the Preliminary Statement.

  • Compounded SOFR means the compounded average of SOFRs for the applicable Corresponding Tenor, with the rate, or methodology for this rate, and conventions for this rate (which may include compounding in arrears with a lookback and/or suspension period as a mechanism to determine the interest amount payable prior to the end of each Interest Period) being established by the Administrative Agent in accordance with:

  • Compounded Interest shall have the meaning set forth in Section 4.1.

  • Class A-2a Interest Rate means [●]% per annum (computed on the basis of a 360-day year consisting of twelve 30-day months).

  • Additional Xxxx of Sale means each document, in the form of Attachment D hereto, executed by an authorized officer of VL Funding, the VL Funding Eligible Lender Trustee on behalf of VL Funding, Funding and the Interim Eligible Lender Trustee on behalf of Funding which shall: (i) set forth the list and certain terms of (a) Additional Loans offered by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, including the Additional Loans Purchase Price for the Additional Loans being sold thereunder or (b) Substituted Loans substituted by VL Funding and (ii) sell, assign and convey to Funding and the Interim Eligible Lender Trustee, for the benefit of Funding, and their assignees, all right, title and interest of VL Funding and of the VL Funding Eligible Lender Trustee on behalf of VL Funding in the Additional Loans or Substituted Loans, as applicable, listed on the related Additional Xxxx of Sale and (iii) certify that the representations and warranties made by VL Funding and the VL Funding Eligible Lender Trustee on behalf of VL Funding pursuant to Sections 5(A) and (B) of these Master Terms, by the Servicer as set forth in Section 5(C) and by the Interim Eligible Lender Trustee as set forth in Section 5(D) are true and correct.

  • Residual Metered Load means all load remaining in an electric distribution company’s fully metered franchise area(s) or service territory(ies) after all nodally priced load of entities serving load in such area(s) or territory(ies) has been carved out.

  • Maximum residual disinfectant level or “MRDL” means a level of a disinfectant added for water treatment that may not be exceeded at the consumer’s tap without an unacceptable possibility of adverse health effects.

  • Monthly Uptime Percentage means total number of minutes in a calendar month minus the number of minutes of Downtime suffered in a calendar month, divided by the total number of minutes in a calendar month.

  • Separately invested asset means an account or fund of a district that is not invested in a pooled fund group.

  • Initial Xxxx of Sale means the document, in the form of Attachment B hereto, executed by an authorized officer of SLM ECFC which shall (i) set forth the applicable Initial Loans offered by SLM ECFC and accepted for purchase by the Interim Eligible Lender Trustee for the benefit of Funding, (ii) sell, assign and convey to the Interim Eligible Lender Trustee for the benefit of Funding and its assignees all rights, title and interest of SLM ECFC in the Initial Loans listed on that Xxxx of Sale and (iii) certify that the representations and warranties made by SLM ECFC as set forth in Sections 5 (A) and (B) of these Master Terms are true and correct.

  • Distribution Tariff means the Distribution Tariff prepared by the Company and approved by the Commission on an interim or final basis, as the case may be;

  • Operating parameter value means a minimum or maximum value established for a control device or process parameter that, if achieved by itself or in combination with one (1) or more other operating parameter values, determines that an owner or operator has complied with an applicable emission limit.

  • Annual Specified Amount means $400,000 escalated on each Anniversary Date by the percentage by which the CPI last published prior to such Anniversary Date has increased over the CPI last published prior to the grant of the Burswood Casino Licence.

  • Nomination Period means, in respect of a Nomination, the period from the Nomination Start Time to the Nomination End Time;

  • Contract for Differences (“CFD”) shall mean a contract, which is a contract for differences by reference to variations in the price of an Underlying Asset.

  • Class A-2b Interest Rate means LIBOR + 0.16% per annum (computed on the basis of the actual number of days elapsed, but assuming a 360-day year).

  • Class R Residual Interests The Class R-1 and Class R-2 Residual Interests (which shall be transferable only as a unit evidenced by the Class R Certificates, in accordance with the applicable provisions of Section 5.01).