Guaranteed Storage Availability definition

Guaranteed Storage Availability has the meaning specified in Section 6.3(a). “Guaranteed Storage Efficiency” has the meaning specified in Section 6.4(a).

Guaranteed Storage Availability has the meaning set forth in Section 4.8.

Guaranteed Storage Availability. [98%] [percentage of hours each month that Seller agrees the Storage Facility will be available] Availability Adjustment: The Availability Adjustment (“AA”), which is calculated as follows: If the monthly storage availability is greater than or equal to the Guaranteed Storage Availability, then: AA = 100% If the monthly storage availability is less than the Guaranteed Storage Availability, but greater than or equal to 70%, then: AA = 100% - [(98% - monthly storage availability) × 2] If the monthly storage availability is less than 70%, then: AA = 0

Examples of Guaranteed Storage Availability in a sentence

• In the event that, at the end of any such Contract Year, the Annual Storage Availability is less than the Guaranteed Storage Availability, Seller shall pay to Buyer the Storage Availability Liquidated Damages, as calculated pursuant to Schedule 6.3.

• The Parties agree that the damages Buyer would incur due to Seller’s failure to meet the Guaranteed Storage Availability would be difficult or impossible to predict with certainty and the Storage Availability Liquidated Damages amount is a reasonable approximation of such damages.

• If, the Monthly Storage Availability during any month is less than the Guaranteed Storage Availability, then Buyer’s payment for the Storage Product shall be calculated by reference to the Availability Adjustment (as determined in accordance with Exhibit P).

• If the Storage Availability during any Contract Year is less than the Guaranteed Storage Availability, then Seller shall cure such failure by paying to PacifiCorp Storage Availability Damages calculated in accordance with Exhibit P.

• During the Term, the Storage Facility shall maintain a Storage Availability during each Contract Year of no less than the Guaranteed Storage Availability.

More Definitions of Guaranteed Storage Availability

Guaranteed Storage Availability has the meaning set forth in Section 4.8. “Guaranteed Storage Capacity” means the maximum dependable operating capability of the Storage Facility to discharge Energy, as measured in MW AC at the Delivery Point (i.e., measured at the Storage Facility Meter and adjusted for Electrical Losses to the Delivery Point) for four (4) hours of continuous discharge, that Seller commits to install pursuant to this Agreement as set forth on the Cover Sheet.

Guaranteed Storage Availability is defined in Exhibit P. “Guaranteed Storage Capacity Rating” is defined in Exhibit P.

Guaranteed Storage Availability has the meaning set forth in Section 4.8(a). “Hour” has the meaning set forth in Exhibit P.

Guaranteed Storage Availability has the meaning set forth in Section 8.4(a) of this Agreement.

Guaranteed Storage Availability is defined in Exhibit A.

Guaranteed Storage Availability has the meaning set forth in Section 4.10.]18 “Guarantor” means, with respect to Seller, any Person that (a) does not already have any material credit exposure to Buyer under any other agreements, guarantees, or other arrangements at the time its Guaranty is issued, (b) is an Affiliate of Seller, or other third party reasonably acceptable to Buyer, (c) has a Credit Rating of BBB- or better from S&P or a Credit Rating of Baa3 or better from Moody’s, (d) has a tangible net worth of at least One Hundred Million Dollars ($100,000,000), (e) is incorporated or organized in a jurisdiction of the United States and is in good standing in such jurisdiction, and (f) executes and delivers a Guaranty for the benefit of 17 Applicable if the Facility includes a Storage Facility.

Guaranteed Storage Availability is defined in Exhibit A. “Guaranteed Storage Power Capacity Rating” is defined in Exhibit A. “Guaranteed Storage Round Trip Efficiency” is defined in Exhibit A.