GEP Shortfall definition

GEP Shortfall means the amount in MWh by which Seller failed to achieve the Guaranteed Energy Production in the applicable Performance Measurement Period.
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GEP Shortfall has the meaning set forth in Section 9.1.
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GEP Shortfall has the meaning set forth in Section 3.1(e)(ii).
Sample 1

Examples of GEP Shortfall in a sentence

  • If Seller fails during any Performance Measurement Period to deliver (or be deemed to deliver) Adjusted Energy Production in an amount greater than or equal to the Guaranteed Generation, then such failure is a “GEP Shortfall” and the Performance Measurement Period in which the GEP Shortfall occurs is a “GEP Shortfall Performance Period”.

  • To the extent Seller is unable to deliver or provide sufficient Adjusted Energy Production or Replacement Product in excess of the Guaranteed Generation to make up the remaining GEP Shortfall Energy, then Seller shall, at the end of the GEP Shortfall Makeup Period, pay Buyer GEP Shortfall Damages.

  • Notwithstanding the foregoing, if a GEP Shortfall occurs during the last Contract Year, Seller shall pay GEP Shortfall Damages as provided in Section 9.2 without a GEP Shortfall Makeup Period which, except as set forth in Section 13.1(i), shall be Buyer’s sole and exclusive remedy in connection with Seller’s failure to meet the achieve the Guaranteed Generation amount.

  • If Seller fails following ten (10) Business Days’ Notice from Buyer to pay Buyer the GEP Shortfall Damages within sixty (60) days after the end of the GEP Shortfall Makeup Period, Buyer shall have the right to immediately draw the applicable amount of GEP Shortfall Damages owed to Buyer from the Operation Security.

  • For the avoidance of doubt, Buyer shall not be obligated to procure Replacement Product in order to recover GEP Shortfall Damages, but may elect to procure replacement product from the GEP Shortfall Damages as a result of Seller’s GEP Shortfall.

  • If Seller fails to make up the full amount of any GEP Shortfall Energy by the end of the GEP Shortfall Makeup Period, then Seller shall within sixty (60) days after the end of such GEP Shortfall Makeup Period pay Buyer the GEP Shortfall Damages; provided that, if the GEP Shortfall occurs during the final Contract Year, then Seller shall within sixty (60) days after the end of that final Contract Year pay Buyer the GEP Shortfall Damages, if any.


More Definitions of GEP Shortfall

GEP Shortfall means the amount in MWh by which Seller failed to achieve the
Sample 1
GEP Shortfall has the meaning set forth in Section 3.1(e)(ii).
Sample 1

Related to GEP Shortfall

  • Available Funds Shortfall Amount means, as of any Payment Date, the amount, if any, by which the aggregate amount required to be paid pursuant to clauses first through twelfth of Section 4.4(a) of the Sale and Servicing Agreement exceeds the Available Funds for such Payment Date.

  • Note Interest Shortfall means, for a Class and a Payment Date, an amount equal to the excess, if any, of the Accrued Note Interest for the prior Payment Date for the Class over the amount of interest that was paid to the Noteholders of that Class on the prior Payment Date, together with interest on the excess amount, to the extent lawful, at the Note Interest Rate for the Class for that Interest Period.