Guaranteed Storage Capacity definition
Examples of Guaranteed Storage Capacity in a sentence
Seller shall post security as follows: Development Security – $[To equal $105/kW of Guaranteed Storage Capacity] Performance Security – $[To equal 105/kW of Installed Storage Capacity] To secure its obligations under this ESA, Seller shall deliver the Development Security to Buyer within five (5) Business Days of the Effective Date.
Seller shall post security as follows: Development Security – $[To equal $105/kW of Guaranteed PV Capacity & Guaranteed Storage Capacity] Performance Security – $[To equal 105/kW of Installed PV Capacity & Installed Storage Capacity] To secure its obligations under this PPA, Seller shall deliver the Development Security to Buyer within five (5) Business Days of the Effective Date.
If Seller fails to construct the Guaranteed Storage Capacity by such date, Seller shall pay Capacity Damages to Buyer, in an amount equal to one hundred thousand dollars ($100,000) multiplied by each full or partial MW that the Guaranteed Storage Capacity exceeds the Installed Battery Capacity, and the Guaranteed Storage Capacity and other applicable portions of the Agreement shall be adjusted accordingly.
If, at Commercial Operation, the Installed Storage Capacity is less than of the Guaranteed Storage Capacity, Seller shall after the Commercial Operation Date to install additional capacity and/or Network Upgrades such that the Installed Storage Capacity is equal to (but not greater than) the Guaranteed Storage Capacity, and Seller shall provide to Buyer a new certificate substantially in the form attached as Exhibit I-1 hereto specifying the new Installed Storage Capacity.
If Seller fails to construct the Guaranteed Storage Capacity by such date, Seller shall pay “Storage Capacity Damages” to Buyer, in an amount Capacity Damages shall not be offset or reduced by the payment of Development Security, Performance Security, Delay Damages, or any other form of liquidated damages under this Agreement.
The Master Servicer shall consider Unliquidated Advances in respect of prior P&I Advances as outstanding Advances for purposes of recoverability determinations as if such Unliquidated Advance were a P&I Advance.
Seller’s payment of PV Capacity Damages and/or Storage Capacity Damages shall be Buyer’s sole remedy for Seller’s failure, after Commercial Operation, to achieve of the Guaranteed PV and/or Guaranteed Storage Capacity.
In accordance with Section 4.9(c) of the Agreement and Part II(I) below, the actual efficiency rate and storage capacity determined pursuant to a Storage Capacity Test (up to, but not in excess of, the Guaranteed Storage Capacity) shall become the new Storage Capacity and Efficiency Rate at the beginning of the day following the completion of the test for calculating compensation and all other purposes under this Agreement.
MW [Guaranteed Storage Capacity: ___ MW Guaranteed Storage Availability: 97.0% Guaranteed Efficiency Rate: ___% Minimum Efficiency Rate: 75.0%]2 Contract Price: The Renewable Rate shall be determined hourly within each day of the Delivery Term as follows: Bonus Incentives paid for the first five (5) Contract Years shall be: ☐ EnviroStor ▇▇▇▇▇▇▇▇▇▇: $10.00/MWh ☐ Previously Developed Site: $5.00/MWh ☐ Local Business: $5.00/MWh [The Capacity Rate shall be: $7.00/kW-mo.
If Seller fails to construct the Guaranteed Storage Capacity by such date, Seller shall pay “Storage Capacity Damages” to Buyer, in an amount equal to for each MW at four hours of continuous discharge that the Guaranteed Storage Capacity exceeds the Installed Storage Capacity, and the applicable portions of the Agreement shall be adjusted accordingly consistent with the Installed Storage Capacity.