Examples of Chronic Underperformance in a sentence
For purposes of this Agreement the following terms will be used to determine Guaranteed Performance, Shortfalls and Chronic Underperformance.
If, in each of the three consecutive Contract Years in question, the Delivered Energy for such Contract Year is less than eighty percent (80%) of the Projected Energy Deliveries for such Contract Year, Chronic Underperformance will have occurred.
The Facility would not have Chronic Underperformance in any other period.
APPENDIX 8 CHRONIC UNDERPERFORMANCE SAMPLE CALCULATIONS Chronic Underperformance Calculation: [PROPOSER TO INSERT] INSURANCE REQUIREMENTS Commencing with the Effective Date and at all times throughout the Term of this Agreement except as expressly provided below, Seller shall, at its own cost, maintain and cause to be maintained the types and amounts of insurance set forth below.
The following is an example to illustrate when Chronic Underperformance will have occurred.
No No No No No No No Yes No No Under this example, Chronic Underperformance will be deemed to have occurred in Contract Year 8, as this is the third consecutive Contract Year where the Delivered Energy in such Contract Year and each of the two preceding Contract Years is less than seventy five percent of the Projected Energy Deliveries for the Contract Year in question.
Beneficiary: LONG ISLAND POWER AUTHORITY By: Name: Title: EXHIBIT J CHRONIC UNDERPERFORMANCE SAMPLE CALCULATION FOR RENEWABLE RESOURCES Chronic Underperformance Calculation: In each Contract Year in question, the Delivered Energy is compared to eighty percent (80%) of the Projected Energy Deliveries for such Contract Year.