Fixed Charge definition
Examples of Fixed Charge in a sentence
The Supplier shall procure the Availability of the Power Station during peak hours of the day comprising 00:00 to 02:00 hrs and 18:00 to 24:00 hrs, at the timing to be specified by the Utility with a notice of 30 (thirty) days to the Supplier (the “Peak Hours”), and shall be entitled to payment of Fixed Charge for such Availability.
Provided that a penalty at the rate of upto 1 % (one per cent) of annual Fixed Charge shall be applicable in case of failure to achieve ramp rate of 1% per minute as per methodology described in Schedule-G.
In such an event, the Availability for the relevant month shall, for the purposes of payment of Fixed Charge, be deemed to be reduced by the same proportion that Availability bears to Mis- declaration, as if the Mis-declaration had occurred for a period of one month.
Commencing on the first Testing Date after the occurrence of a Financial Covenant Trigger Event and on each Testing Date thereafter during a Financial Covenant Testing Period, Credit Parties will not permit the Fixed Charge Coverage Ratio for any Defined Period, as tested monthly, to be less than 1.00 to 1.00.
For the avoidance of doubt, the Parties agree that the Base Fixed Charge and the Base Variable Charge shall be revised in accordance with the provisions of Clauses 11.3 and 12.3.2 respectively.