Operating Reserve means generation capacity or load reduction capacity which can be called upon on short notice by either Party to replace scheduled energy supply which is unavailable as a result of an unexpected outage or to augment scheduled energy as a result of unexpected demand or other contingencies.

Operating Reserve means: (1) in ISO-NE, an Operating Reserve as defined in Section I.2.2 of the ISO-NE Tariff, and (2) in NYISO, an Operating Reserve as defined in Section 2.2 of the NYISO Services Tariff. For purposes of Schedule D to this Agreement, 10-minute Operating Reserve is considered a higher quality product than 30-minute Operating Reserve.

Operating Reserve means the amount of generating capacity scheduled to be available for a specified period of an Operating Day to ensure the reliable operation of the PJM Region, as specified in the PJM Manuals.

Examples of Operating Reserve in a sentence

Owner must establish and shall maintain a Replacement Reserve Account and an Operating Reserve Account (collectively, the “Reserve Accounts”) and such other accounts for the Project as described in this section for the Term of this Agreement.
After Stabilized Occupancy (as defined below), the Operating Reserve Account may be used to pay the operating costs and expenses to the extent the collected gross receipts are insufficient for such purpose.
Further, the Operating Reserve Account may not be used to pay any identity of interest costs, including management fees.
Prior to the final draw of the HOME Loan and not later than the completion of construction, Owner shall fund and maintain an Operating Reserve Account in the amount described in the approved Project Budget.

More Definitions of Operating Reserve

Operating Reserve means the funds necessary to pay the ongoing fees, interest costs and operating and administrative costs in respect of the Partnership that are payable. The Operating Reserve will be deducted from the Gross Proceeds of each of the Portfolios on a pro-rated basis and will not form part of the Available Funds for investment in Flow-Through Shares for the Portfolios.

Operating Reserve means an amount equal to 2.25% of the Gross Proceeds in respect of each of the Portfolios, which will be set aside to pay the ongoing fees (including the General Partner’s Fee), interest costs and operating and administrative costs of the Partnership. The National Portfolio’s share of the Operating Reserve will be funded through funds borrowed under the National Portfolio Loan Facility, and the Québec Portfolio’s share will be funded out of the Gross Proceeds from the sale of Québec Class Units.

Operating Reserve means any operating reserve for the Project required to be maintained pursuant to the terms of the Limited Partnership Agreement.

Operating Reserve means an amount equal to 2.25% of the Gross Proceeds in respect of each of the Portfolios, which will be set aside to pay the ongoing fees, interest costs and operating and administrative costs of the Partnership. The Operating Reserve will be funded out of the Gross Proceeds from the sale of Units.

Operating Reserve means the amount of generating capacity scheduled to be available for a specified period of an Operating Day to ensure the reliable operation of the PJM Control Area, as specified in the PJM Manuals.

Operating Reserve means that portion of the fund balance which has not been appropriated in a budget year; and

Operating Reserve means one of the two sub-accounts that comprise the Reserve Account. “Operating Reserve Minimum” means ( a ) 1,000 acre-feet of Operating Reserve Water in the Operating Reserve prior to the date that is three (3) years following the Performance Start Date,