Examples of Mechanical Availability Percentage in a sentence
For each month the Mechanical Availability Percentage shall be calculated and rounded to the nearest full percentage.
Department shall not be entitled to any liquidated damages hereunder to the extent that Seller's failure to achieve a specific Mechanical Availability Percentage was caused by (i) Department or any of its agents, contractors, vendors or employees, (ii) an Uncontrollable Force, or (iii) a Delivery Event.
The provisions of this Section 4.01 shall be the exclusive remedies of Department for Seller's failure to meet a specific Mechanical Availability Percentage so long as such failure is not due to intentional conduct of Seller.
Seller guarantees that, as calculated by the thirtieth (30th) Day of each Invoice Month following the Commercial Operation Date, the Facility shall have achieved (a) a Mechanical Availability Percentage of 96% for operations during the months of June, July, August, September, October, December, January and February; and (ii) a Mechanical Availability Percentage of 94% for operations during the months of November, March, April and May.
In the event the Facility has failed to meet a seventy percent (70%) Mechanical Availability Percentage, calculated on an annual average basis, in any two (2) out of three (3) years, Department shall have the right, within thirty (30) Days of such time, in its sole discretion, to terminate this Agreement without further obligation or liability to Seller.
Cure Period: Seller shall be deemed to have cured this default if, in the following Commercial Operation Year, the Wind- Solar Hybrid Facility achieves a collective Mechanical Availability Percentage for such Commercial Operation Year of 90% or more.
For each full percentage point that the Mechanical Availability Percentage during the immediately preceding month is less than (i) 96% for operations during the months of June, July, August, September, October, December, January or February; or (ii) 94% for operations during the months of November, March, April or May, Seller shall pay to Department liquidated damages in an amount equal to one percent (1%) of the Capacity Payment due for such month.
MP’s exclusive remedy for breach of Seller of this Section 6.3 shall be failure to achieve Mechanical Availability Percentage as set forth in Section 3.2.1(a).
For each full percentage point that the Mechanical Availability Percentage during the immediately preceding month is less than (i) 95% for operations during the months of June, July, August, September, October, December, January or February; or (ii) 90% for operations during the months of November, March, April or May, Seller shall pay to Department liquidated damages in an amount equal to two percent (2%) of the Capacity Payment due for such month.
During the Services Term, Seller shall maintain a Mechanical Availability Percentage of no less than the MAP indicated on Attachment 2, Facility Information Form for On Peak hours on a rolling twelve month basis; provided however, that the first determination of the Mechanical Availability Percentage of the Facility shall be calculated twenty four (24) months after the Initial Delivery Date for the preceding twelve (12) month period.