Load Reduction Event definition

Load Reduction Event means a reduction in demand by a Member or Special Member for the purpose of participating in the PJM Interchange Energy Market.
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Examples of Load Reduction Event in a sentence

  • If the Company calls a Firm Load Reduction Event on a pre-scheduled opt-out day, the Customer is exempt from providing Firm Load Reduction and will receive no Energy Payment, whether or not they choose to operate.

  • Following a Load Reduction Event that is submitted to the Office of the Interconnection for compensation, the Office of the Interconnection shall provide the Notification window(s), if applicable, directly metered data and Customer Baseline Load and Symmetric Additive Adjustment calculation to the appropriate electric distribution company for optional review.

  • The Company will not cancel or shorten the duration of a Firm Load Reduction Event once notification has been provided.

  • If the Company calls a Load Reduction Event on a pre-scheduled opt-out day, the Customer is exempt from providing load reduction and receives no Firm Energy Reduction Payment, whether or not they choose to operate.

  • The Company is not responsible for any consequences to the participating Customer that results from the Firm Load Reduction Event or the Customer’s effort to reduce Energy in response to a Firm Load Reduction Event.

  • If the Customer qualifies for a reduced Reservation Payment; the Qualified Load Reduction is the average load reduction percentage for all Load Reduction Event hours during that month.

  • If the Customer fails to deliver a minimum of 70% of the Committed Load Reduction on average during any single event for which the Customer is enrolled during events in that month, the Customer is not eligible for the Energy Payment for that Load Reduction Event nor the Reservation Payment for that month.

  • Evaluation and settlement of the Firm Energy Reduction Payment will occur within 60 days of the Firm Load Reduction Event.

  • If other Load Reduction Events are called in the same month, and the Customer delivers a minimum of 70% of the Committed Load Reduction during such events, the corresponding Energy Reduction Payments are paid for each Load Reduction Event that the Customer delivers a minimum of 70% of the Committed Load Reduction on average over each event for which the Customer is enrolled during events in that month.

  • DEFINITIONS Advance-Notice Option – The notification period in which the Company will alert the Customer prior to a Load Reduction Event; options include 18 hours, 4 hours, and 10 minutes.

Related to Load Reduction Event

  • Application Event means the occurrence of (a) a failure by Borrowers to repay all of the Obligations in full on the Maturity Date, or (b) an Event of Default and the election by Agent or the Required Lenders to require that payments and proceeds of Collateral be applied pursuant to Section 2.4(b)(iii) of this Agreement.

  • extended reduction period means the period for which a person is in receipt of an extended reduction in accordance with paragraph 89, 96 or 101;

  • Servicer Termination Event shall have the meaning assigned to such term in the Lead Securitization Servicing Agreement or at any time that the Mortgage Loan is no longer subject to the provisions of the Lead Securitization Servicing Agreement, any analogous concept under the servicing agreement pursuant to which the Mortgage Loan is being serviced in accordance with the terms of this Agreement.

  • Amortization Event has the meaning specified in Article IX.

  • Deemed Liquidation Event shall have the meaning given to such term in the Certificate of Incorporation.

  • Additional Termination Event has the meaning specified in Section 5(b).

  • Notification Event means (a) the occurrence of a “reportable event” described in Section 4043 of ERISA for which the 30-day notice requirement has not been waived by applicable regulations issued by the PBGC, (b) the withdrawal of any Loan Party or ERISA Affiliate from a Pension Plan during a plan year in which it was a “substantial employer” as defined in Section 4001(a)(2) of ERISA, (c) the termination of a Pension Plan, the filing of a notice of intent to terminate a Pension Plan or the treatment of a Pension Plan amendment as a termination, under Section 4041 of ERISA, if the plan assets are not sufficient to pay all plan liabilities, (d) the institution of proceedings to terminate, or the appointment of a trustee with respect to, any Pension Plan by the PBGC or any Pension Plan or Multiemployer Plan administrator, (e) any other event or condition that would constitute grounds under Section 4042(a) of ERISA for the termination of, or the appointment of a trustee to administer, any Pension Plan, (f) the imposition of a Lien pursuant to the IRC or ERISA in connection with any Employee Benefit Plan or the existence of any facts or circumstances that could reasonably be expected to result in the imposition of a Lien, (g) the partial or complete withdrawal of any Loan Party or ERISA Affiliate from a Multiemployer Plan (other than any withdrawal that would not constitute an Event of Default under Section 8.12), (h) any event or condition that results in the reorganization or insolvency of a Multiemployer Plan under Sections of ERISA, (i) any event or condition that results in the termination of a Multiemployer Plan under Section 4041A of ERISA or the institution by the PBGC of proceedings to terminate or to appoint a trustee to administer a Multiemployer Plan under ERISA, (j) any Pension Plan being in “at risk status” within the meaning of IRC Section 430(i), (k) any Multiemployer Plan being in “endangered status” or “critical status” within the meaning of IRC Section 432(b) or the determination that any Multiemployer Plan is or is expected to be insolvent or in reorganization within the meaning of Title IV of ERISA, (l) with respect to any Pension Plan, any Loan Party or ERISA Affiliate incurring a substantial cessation of operations within the meaning of ERISA Section 4062(e), (m) an “accumulated funding deficiency” within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) or the failure of any Pension Plan or Multiemployer Plan to meet the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA), in each case, whether or not waived, (n) the filing of an application for a waiver of the minimum funding standards within the meaning of the IRC or ERISA (including Section 412 of the IRC or Section 302 of ERISA) with respect to any Pension Plan or Multiemployer Plan, (o) the failure to make by its due date a required payment or contribution with respect to any Pension Plan or Multiemployer Plan, (p) any event that results in or could reasonably be expected to result in a liability by a Loan Party pursuant to Title I of ERISA or the excise tax provisions of the IRC relating to Employee Benefit Plans or any event that results in or could reasonably be expected to result in a liability to any Loan Party or ERISA Affiliate pursuant to Title IV of ERISA or Section 401(a)(29) of the IRC, or (q) any of the foregoing is reasonably likely to occur in the following 30 days.

  • Trigger Event Date means a date on which a Trigger Event has occurred as determined by the Calculation Agent.