Minimum Guaranteed Capacity definition
Examples of Minimum Guaranteed Capacity in a sentence
The amounts payable under Clause 15 (Guaranteed Capacity and Performance Ratio) shall be the sole and exclusive financial remedies of the Project Company in respect of failure of the Facility to achieve the Minimum Guaranteed Capacity, the Contracted Capacity, the Guaranteed Performance Ratio and the Minimum Guaranteed Performance Ratio.
Delay Liquidated Damages Cap4 12.4 [●] Commercial Operation Longstop Date 12.5 [●] Minimum Guaranteed Capacity 15.2 [●] Default Rate 23.1(f) [●] Termination Fee 26.3 [●] Maximum Liability 24.1(a)(vi) [●] Cost or Savings Threshold 1.1 [●] Governing Law5 37.15 [●] Mediation Rules 38.2 [●] Expert Appointing Authority6 38.3(c) [●] Arbitration Language 38.4(b) [●] Arbitration Seat7 38.4(c) [●] Lender Direct Agreement 4.4(a) [Applicable] [Not Applicable].
No later than three (3) Days after completion of the Capacity Test, Contractor shall execute and submit to Owner a report (“Capacity Test Report”) that includes the raw data and completed results of the Capacity Test, together with a comparison of such results to the Target Capacity, the Guaranteed Capacity and the Minimum Guaranteed Capacity (as each is defined in Exhibit A-4-1).
The Capacity Test Certificate shall contain a statement whether (i) the Facility satisfies the Guaranteed Capacity, (ii) the Facility satisfies the Minimum Guaranteed Capacity, but not the Guaranteed Capacity, or (iii) the Facility fails to satisfy the Minimum Guaranteed Capacity.
If the Capacity Test Report for the repeated Capacity Test indicates that the Facility satisfied the Minimum Guaranteed Capacity, but not the Guaranteed Capacity, then Contractor shall pay Owner the Capacity Performance Liquidated Damages as provided in Article 13 and Exhibit D.
The Improvements will be capable of generating a minimum of 150 megawatts (the “Minimum Guaranteed Capacity”); however, in the event that the Improvements have a Capacity (as defined herein) less than the Minimum Guaranteed Capacity, such circumstance shall not be a default under this Agreement so long as Owner pays the Annual PILOT Floor Amount specified in Section 2.3(b) of this Agreement.
Subject to the rights and remedies of Owner (including the rights and remedies arising from Section 22.2(f)), if the Facility fails to satisfy the Minimum Guaranteed Capacity, Contractor shall continue to perform in accordance with this Section until the Facility does satisfy the Minimum Guaranteed Capacity.
Delay Liquidated Damages Cap4 12.4 [●] Commercial Operation Longstop Date 12.5 [●] Minimum Guaranteed Capacity 15.2 [●] Default Rate 23.1(f) [●] Termination Fee 26.3 [●] Maximum Liability 24.1(a)(vi) [●] Cost or Savings Threshold 1.1 [●] Governing Law5 37.14 [●] Mediation Rules 38.2 [●] Expert Appointing Authority6 38.3(c) [●] Arbitration Language 38.4(b) [●] Arbitration Seat7 38.4(c) [●] Lender Direct Agreement 4.4(a) [Applicable] [Not Applicable].
If the Capacity Test Report indicates that the Facility failed to satisfy the Minimum Guaranteed Capacity or satisfied the Minimum Guaranteed Capacity, but not the Guaranteed Capacity, then Contractor shall promptly (and in any event within five (5) Business Days) submit to Owner for its review and approval a Remedial Plan and remedy such deficiencies in accordance with such Owner-approved Remedial Plan.