Chronic Underperformance definition

Chronic Underperformance has the meaning set forth in Section 5.5.1(iv). Claims – means all third-party claims or actions, threatened or filed prior to or after the termination of this Agreement and, whether groundless, false, fraudulent or otherwise, that directly relate to this Agreement, and the resulting losses and damages, and reasonable expenses, attorneys’ fees, consultants’ fees, and court costs, whether incurred by settlement or otherwise, and whether such claims or actions are threatened or filed. Claiming Party – has the meaning set forth in Section 14.3.
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Chronic Underperformance means the failure of the Project to achieve an average Monthly Equivalent Capacity in any consecutive twenty-four (24) Month period (“Average Monthly Equivalent Capacity”) that is equal to at least [eighty percent (80%)] of the Project Capacity. Commencing on the third (3rd) anniversary of the Project COD, Buyer shall have the option to terminate this Agreement as provided herein in the event of Chronic Underperformance. If Chronic Underperformance has occurred, Buyer may give Seller written notice of such Chronic Underperformance within thirty (30) Days of the end of the consecutive twenty-four (24) Month period in which such Chronic Underperformance occurred. Upon receipt of any notice of Chronic Underperformance, Seller shall have an additional six (6) Months to achieve an Average Monthly Equivalent Capacity in excess of eighty (80%) of the Project Capacity. In the event that Seller fails to achieve an Average Monthly Equivalent Capacity level in excess of eighty percent (80%) of the Project Capacity within such six (6) Month period, Buyer shall have the right to terminate this Agreement pursuant to Section 6.3. article 6: EVENTS OF DEFAULT; REMEDIES Seller Events of Default The occurrence of one or more of the following events shall constitute a “Seller Event of Default”: 6.1. 1the failure by Seller to make, when due, any payment required pursuant to this Agreement if such failure is not remedied within ten (10) Business Days after written notice from Buyer; 6.1. 2any representation or warranty made by Seller herein or in any certificate delivered to Buyer pursuant to this Agreement is false or misleading in any material respect when made or when deemed made or repeated; 6.1. 3the failure by Seller to perform any material covenant or obligation set forth in this Agreement if such failure is not remedied within thirty (30) Days after written notice; provided that if such failure is not reasonably capable of being cured within thirty (30) Days, and if Seller is exercising diligent efforts to remedy such failure, then such additional period of time, not to exceed ninety (90) additional Days, as shall be required to remedy such failure with the exercise of diligent efforts; 6.1. 4Seller becomes Bankrupt; 6.1. 5Seller consolidates or amalgamates with, or merges with or into, or transfers all or substantially all of its assets to, another entity and, at the time of such consolidation, amalgamation, merger or transfer, the resulting, surviving or transferee e...
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Chronic Underperformance means the failure of the Project to achieve an average Monthly Equivalent Capacity in any consecutive twenty-four
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Examples of Chronic Underperformance in a sentence

  • 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: 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.

  • The following is an example to illustrate when Chronic Underperformance will have occurred.

  • The Facility would not have Chronic Underperformance in any other period.

  • 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 sustainability plan should enable new avenues of support for the long-term sustained impact of the CI.


More Definitions of Chronic Underperformance

Chronic Underperformance means the failure of the Project to achieve Guaranteed Performance in any three consecutive Contract Years. Remedies for Underperformance If a Shortfall has occurred in any Contract Year, Seller shall compensate Buyer (the “Make-Whole Payment”) for such Contract Year equal to the number of MWh of Shortfall in Delivered Energy below the Guaranteed Performance level for such Contract Year multiplied by $30/MWh. Buyer shall have the right to terminate this Agreement pursuant to Section 6.3 in the event Chronic Underperformance has occurred, by giving Seller notice of termination within one hundred twenty (120) Days following such occurrence. Overdelivery In the event that Seller delivers quantities of Delivered Energy equal to or in excess of one hundred and five percent (105%) of the Projected Energy Deliveries as set forth on Appendix 3 (“Excess Energy”) during any Contract Year, the Contract Price for each delivered MWh of Energy after Seller’s deliveries exceed the annual quantity in Appendix 3 for such Contract Year shall be the then-applicable Energy price set forth in Buyer’s SC-11 Tariff (or any replacement tariff). For avoidance of doubt, Xxxxx will be entitled to all Related Capacity and Renewable Attributes associated with such deliveries of Excess Energy. EVENTS OF DEFAULT; REMEDIES Seller Events of Default
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Chronic Underperformance means the failure of the Project to achieve Guaranteed Performance in each of any three consecutive Contract Years. Remedies for Underperformance If a Shortfall has occurred in any Contract Year, Seller shall compensate Buyer (the “Make-Whole Payment”) for such Contract Year equal to the number of MWh of Shortfall in Delivered Energy below the Guaranteed Performance level for such Contract Year multiplied by $30/MWh. Buyer shall have the right to terminate this Agreement pursuant to Section 6.3 in the event Chronic Underperformance has occurred, by giving Seller notice of termination within one hundred twenty (120) Days following such occurrence. Overdelivery In the event that Seller delivers quantities of Delivered Energy equal to or in excess of one hundred and fifteen percent (115%) of the Projected Energy Deliveries as set forth on Exhibit B (“Excess Energy”) during any Contract Year, the Contract Price for each delivered MWh of Energy after Seller’s deliveries exceed the annual quantity in Exhibit B for such Contract Year shall be the then-applicable Energy price set forth in Buyer’s SC-11 Tariff (or any replacement tariff). For avoidance of doubt, Xxxxx will be entitled to all Related Capacity and Renewable Attributes associated with such Excess Energy. APPENDIX 1 TESTS EXHIBIT C CONTRACT PRICE Contract Year Fixed Charges ($/kW-mo) Variable Charges ($/MWh) EXHIBIT J CHRONIC UNDERPERFORMANCE SAMPLE CALCULATION FOR RENEWABLE RESOURCES 1 The RPS Program’s generating facility requirements are consistent with those established by the New York Public Service Commission for eligible renewable energy facilities in Case 03-E-0188, Renewable Portfolio Standard (RPS), Order Regarding retail Renewable Portfolio Standard (issued Sept. 24, 2004); Case 03-E-0188, Renewable Portfolio Standard (RPS), Order Approving Implementation Plan Adopting Clarifications, and Modifying the Environmental Disclosure Program (issued April 14, 2005) and Case No. 03-E-0188, Renewable Portfolio Standard (RPS), Order Approving Modifications to Maintenance Resource Category (issued Oct. 31, 2005) and any subsequent modifying orders.
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Chronic Underperformance means the failure of the Project to achieve an average Monthly Equivalent Capacity in any consecutive twenty-four (24) Month period (“Average Monthly Equivalent Capacity”) that is equal to at least seventy-five percent (75%) of the Net Design Capacity. Commencing on the third (3rd) anniversary of the Commercial Operation Date, Buyer shall have the option to terminate this Agreement as provided herein in the event of Chronic Underperformance. If Chronic Underperformance has occurred, Buyer may give Seller written notice of such Chronic Underperformance within thirty (30) Days of the end of the consecutive twenty-four (24) Month period in which such Chronic Underperformance occurred. Upon receipt of any notice of Chronic Underperformance, Seller shall have an additional six (6) Months to achieve an Average Monthly Equivalent Capacity in excess of seventy-five percent (75%) of the Net Design Capacity. In the event that Seller fails to achieve an Average Monthly Equivalent Capacity level in excess of seventy-five percent (75%) of the Net Design Capacity within such six (6) Month period, Buyer shall have the right to terminate this Agreement immediately pursuant to Section 12.5. BILLING AND COLLECTIONS Billing and Payment . Unless otherwise specifically agreed upon by the Parties, the calendar Month shall be the standard period for all payments under this Agreement (other than Termination Payments). As soon as practicable after the end of each Month, each Party will render to the other Party an invoice for the payment obligations, if any, incurred hereunder during the preceding Month, except that Monthly Capacity Payments will be submitted in accordance with the terms and conditions set forth in Section 6.1(i)(c)(2) below.
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Chronic Underperformance means the failure of the Project to achieve Guaranteed Performance in any three consecutive Contract Years. Remedies for Underperformance
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Related to Chronic Underperformance

  • Chronic abuse or "chronic sexual abuse" means recurring acts of physical abuse that place the

  • Root Cause Analysis means a method of problem solving designed to identify the underlying causes of a problem. The focus of a root cause analysis is on systems, processes, and outcomes that require change to reduce the risk of harm.

  • Chronic delinquency" shall mean failure by Tenant to pay Basic Rent, or any other payments required to be paid by Tenant under this Lease within three (3) days after written notice thereof for any three (3) occasions (consecutive or non-consecutive) during any twelve (12) month period. In the event of a chronic delinquency, Landlord shall have the right, at Landlord's option, to require that Basic Rent be paid by Tenant quarterly, in advance.

  • Unsatisfactory Performance means any of the following:

  • Extreme performance coating means coatings designed for harsh exposure or extreme environmental conditions.

  • Obscene matter or an obscene performance means matter described in 1984 PA 343, MCL 752.361 to 752.374.

  • Catastrophic illness or “injury” means an illness or injury that is expected to incapacitate the employee for an extended period of time, or that incapacitates a member of the employee’s family which incapacity requires the employee to take time off from work for an extended period of time to care for that family member, and taking extended time off work creates a financial hardship for the employee because he or she has exhausted all of his or her sick leave and other paid time off.

  • Persistent Breach means a Default which has occurred on three or more separate occasions with a continuous period of six (6) months.

  • human performance means human capabilities and limitations which have an impact on the safety and efficiency of aeronautical operations;

  • Chronic toxicity means concurrent and delayed adverse effects that occur only as a result of a chronic exposure.

  • Critical Illness or “CI” means Diagnosis of any of the following Covered Conditions which occur directly as a result of illness, and first occur after the Effective Date of Insurance:

  • Child abuse or neglect means the injury, sexual abuse, sexual exploitation, or negligent treatment or maltreatment of a child by any person under circumstances which indicate that the child's health, welfare, and safety is harmed thereby. An abused child is a child who has been subjected to child abuse or neglect as defined herein: Provided, that this subsection shall not be construed to authorize interference with child-raising practices, including reasonable parental discipline, which are not proved to be injurious to the child's health, welfare, and safety: And provided further, That nothing in this section shall be used to prohibit the reasonable use of corporal punishment as a means of discipline. No parent or guardian shall be deemed abusive or neglectful solely by reason of the parent's or child's blindness, deafness, developmental disability or other handicap. RCW 26.44.020

  • Chronic pain means a state in which pain persists beyond the usual course of an acute disease or healing of an injury, or that may or may not be associated with an acute or chronic pathologic process that causes continuous or intermittent pain over months or years.

  • Sexually explicit performance means a live or public act or show intended to arouse or satisfy the sexual desires or appeal to the prurient interest of patrons.

  • Vehicle measuring attitude means the position of the vehicle as defined by the co-ordinates of fiducial marks in the three-dimensional reference system.

  • Psychological abuse which shall mean conduct by a custodian intentionally or recklessly causing, by verbal or non-verbal conduct, a substantial diminution of a service recipient's emotional, social or behavioral development or condition, supported by a clinical assessment performed by a physician, psychologist, psychiatric nurse practitioner, licensed clinical or master social worker or licensed mental health counselor, or causing the likelihood of such diminution. Such conduct may include but shall not be limited to intimidation, threats, the display of a weapon or other object that could reasonably be perceived by a service recipient as a means for infliction of pain or injury, in a manner that constitutes a threat of physical pain or injury, taunts, derogatory comments or ridicule.

  • Substantial Performance means the stage of completion when:(a) all Work, as certified by the Contract Administrator, is capable of completion or correction at a cost of not more than:

  • Control Performance Standard or “CPS” shall mean the reliability standard that sets the limits of a Balancing Authority’s Area Control Error over a specified time period.

  • Root Cause Analysis Report means a report addressing a problem or non-conformance, in order to get to the ‘root cause’ of the problem, which thereby assists in correcting or eliminating the cause, and prevent the problem from recurring.

  • Persistent means three or more defaults. After providing notification to the Contractor of its third default, an Agency may terminate without providing the Contractor with an opportunity to cure. The three defaults are not required to be related to each other in any way.

  • Severe Intellectual Disability means a level of functioning severely below age expectations whereby in a consistent basis the student is incapable of giving evidence of understanding and responding in a positive manner to simple directions expressed in the child's primary mode of communication and cannot in some manner express basic wants and needs.

  • Denial of Service Attack means an attack intended by the perpetrator to overwhelm the capacity of a Computer System by sending an excessive volume of electronic data to such Computer System in order to prevent authorized access to such Computer System.

  • Network Termination Point (NTP) means the physical point at which a subscriber is provided with access to a public communications network; in the case of networks involving switching or routing, the NTP is identified by means of a specific network address, which may be linked to a subscriber number or name;

  • Serious illness means an accident, injury, illness, disease, or physical or mental condition that: poses imminent danger of death; requires inpatient care in a hospital, hospice, or residential medical facility; or requires continuing in-home care under the direction of a physician or health care provider. Related current definitions are summarized in (f) below.

  • Sexual abuse means actual or threatened physical intrusion of a sexual nature, whether by force or under unequal or coercive conditions.

  • Service Level Failure means a failure to perform the Software Support Services fully in compliance with the Support Service Level Requirements.