Guarantee Deposit definition
Examples of Guarantee Deposit in a sentence
Buyer shall return a portion of the Performance Guarantee Deposit quarterly during the first Contract Year pro rata based on the actual Energy Delivered to Buyer during such quarter compared to the total Projected Annual Energy Output for the first Contract Year.
Any Performance Guarantee Deposit remaining at the conclusion of the first Contract Year shall be forfeited to Buyer.
Each Party agrees and acknowledges that (i) the damages that Buyer would incur due to a failure of the Facility to achieve the Output Demonstration would be difficult or impossible to predict with certainty, and (ii) it is impractical and difficult to assess actual damages in the circumstances stated, and therefore retention of the Performance Guarantee Deposit as agreed to by the Parties and set forth herein is a fair and reasonable calculation of such damages.
On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy-five thousand dollars ($75,000).
On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) for a Small Distributed Generation Project 2 or twenty-five dollars ($25.00) for a Large Distributed Generation Project multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy- five thousand dollars ($75,000).
On the Effective Date, Seller shall post a Cash deposit in the amount of fifteen dollars ($15.00) multiplied by the Projected Annual Energy Output (measured in MWh) for the first Contract Year (“Performance Guarantee Deposit”); provided that in no event will the Performance Guarantee Deposit be less than five hundred dollars ($500) or more than seventy-five thousand dollars ($75,000).
If the City applies all or part of the Performance Guarantee Deposit, and if the City does not elect to terminate this License, the Licensee shall provide the City with sufficient funds to restore the full amount of the Performance Guarantee Deposit within ten (10) days after demand by the City.
The City shall not be required to keep the Performance Guarantee Deposit separate from its general accounts, nor shall the City be required to pay Licensee interest on it.
If Licensee performs all of Licensee's obligations under this License, the Performance Guarantee Deposit, or as much of it as has not been applied previously by the City, shall be returned to Licensee at the expiration of the term of this License, after Licensee has vacated the License Area.
What is stated in this Clause will be applicable, without prejudice to the fact that once the Charge to the Bank Account or the Guarantee Deposit has been executed, the User may exercise each and every one of the administrative actions and jurisdictions that the applicable legislation grants in its favor, against the Company and/or any third party.