Cumulative Discount definition
Cumulative Discount means, at any point in time: (x) the amount by which (1) the total amount that Tenant would have been required to pay hereunder for NYS Switchboard Electric and Submetered HVAC Electric (exclusive of the electricity consumed by the Perimeter Pumps and the Perimeter Fan), in the aggregate, from the Commencement Date through and including such point in time, based upon the Standard Electric Rates ( the “Cumulative Pre-Discount Amount”) exceeds (2) the aggregate amount actually paid by Tenant for all of such NYS Switchboard Electric and Submetered HVAC Electric (exclusive of the electricity consumed by the Perimeter Pumps and the Perimeter Fan) after taking into account any savings passed along to Tenant by Landlord pursuant to the terms hereof (e.g., as a result of the LMEP or the BIR) and any savings realized by Tenant as the result of its exercise, pursuant to the terms hereof, of its option to obtain PASNY Power (the “Cumulative Actual Amount”), divided by (y) the Cumulative Pre-Discount Amount; and
Examples of Cumulative Discount in a sentence
If any portion of the Cumulative Discount has not been fully satisfied by the sum of the Individual Invoice Discounts prior to the end of the Term, then Supplier shall pay via Wire Transfer prior to the end of the Term the unsatisfied balance of the Cumulative Discount that is owed to Buyer.