Examples of Billing Year in a sentence
Beginning on the Actual Commercial Operation Date and during each Billing Year throughout the Term, Seller guarantees to deliver Output to Purchaser not less than ninety percent (90%) of the Annual Contract Quantity (in kWh) for such Billing Year, as adjusted by the Site Adjustment Factor (the “Output Guarantee”).
Purchaser shall deliver Notice to Seller of its intent to exercise the Purchase Option at least ninety (90) Days prior to the end of the applicable Billing Year or the Initial Term or Extended Term, as applicable.
If such obstruction is installed by Purchaser or otherwise occurs and no emergency exists, and such obstruction has the effect of decreasing the Output of the System by more than one tenth of one percent (0.10%) of the Output Guarantee for the relevant Billing Year (as pro rated for a Billing Month basis) for a period of two (2) Billing Months or longer, the Parties shall promptly meet and discuss options for removal of said obstruction, if capable of removal.
Upon Purchaser’s written request to Seller, Seller shall take the System off-line for a total of up to forty-eight (48) daylight hours (as defined by the United States National Weather Service in the area where the System is located) during each Billing Year (each event an “Outage”, and the forty- eight (48) hour period, the “Outage Allowance”).
The Output Guarantee in any Billing Year shall be reduced by the amount (in kWh), as reasonably estimated by the Parties, of Electricity that Seller was unable to produce and sell to Purchaser as a result of (i) a Force Majeure Event, (ii) a curtailment by Purchaser in excess of the Outage Allowance, or (iii) other actions of Purchaser.