Performance Assurance Amount definition
Performance Assurance Amount means the actual monetary amount posted by Seller as Seller’s Performance Assurance and held by Buyer, which is required to be at least equal to the Performance Assurance Requirement and which may only be reduced pursuant to Section 7.1(c).
Performance Assurance Amount means the actual monetary amount posted by Seller as Seller’s Performance Assurance and held by Buyer, which is required to be at least equal to the Performance Assurance Requirement and which may only be reduced pursuant to Section 7.1(e).
Performance Assurance Amount is defined in Section 7.1.
Examples of Performance Assurance Amount in a sentence
Upon the resulting payment by Seller, Seller may request for the reduction of a portion of the Performance Assurance Amount attributable to such Designated System.
Notwithstanding the foregoing, if there is an increase in the Collateral Requirement for a Community Renewable Energy Generation Project in the payment adjustment pursuant to Sections 2.6(a)-(b), Seller shall not be required to post additional Performance Assurance Amount at the time of such payment adjustment.
Upon the removal of such Designated System from the Agreement, Seller may request for the reduction of a portion of the Performance Assurance Amount attributable to such Designated System in accordance with Section 7.1(e)(ii).
If during the Contract Term, Seller (or Seller’s Guarantor, if any) is no longer rated at or above Investment Grade, Seller must post, within five (5) Business Days, Performance Assurance equal to the Performance Assurance Amount.
The actual amount posted by Seller and held by Buyer is the Performance Assurance Amount, which shall be required to be at least equal to the Performance Assurance Requirement.
More Definitions of Performance Assurance Amount
Performance Assurance Amount has the meaning set forth in Section 1.07(a)(ii).
Performance Assurance Amount has the meaning set forth in Section 1.07(a)(ii). “Performance Tolerance Band Lower Limit” is determined in Section 1 of Exhibit K. “Performance Tolerance Band Upper Limit” is determined in Section 1 of Exhibit K. “Permits” means all applications, approvals, authorizations, consents, filings, licenses, orders, permits or similar requirements imposed by any Governmental Authority, or the CAISO, in order to develop, construct, Operate, maintain, improve, refurbish or retire the Generating Facility or to Forecast or deliver the electric energy produced by the Generating Facility to Buyer.
Performance Assurance Amount has the meaning set forth in Section 1.07(a)(ii). “Performance Tolerance Band Lower Limit” is determined in Section 1 of Exhibit K. “Performance Tolerance Band Upper Limit” is determined in Section 1 of Exhibit K.
Performance Assurance Amount means the collateral amount for Performance Assurance set forth in Section 1.08.“Permit Approval” means approval by the relevant regulatory agencies of any Permit and shall be deemed obtained upon the issuance of such Permit, and shall not be invalidated by the pendency of an appeal or other post-issuance challenge to the issuance of the Permit.
Performance Assurance Amount means the collateral amount for Performance Assurance set forth in Section 1.06.
Performance Assurance Amount has the meaning set forth in Exhibit G. Permit means any permit, authorization, license, order, consent, waiver, exception, exemption, variance, or other approval by or from, and any filing, report, certification, declaration, notice, or submission to or with, any Governmental Authority required to authorize action, including any of the foregoing relating to the ownership, siting, construction, operation, use, or maintenance of the Facility under any applicable Law. Person means an individual, partnership, joint venture, corporation, limited liability company, trust, association, unincorporated organization, or Governmental Authority. PJM means PJM Interconnection, L.L.C., a regional transmission organization that coordinates and directs the operation and ensures reliability of the high-voltage electric power system service for all or parts of the territory consisting of the states of Delaware, Illinois, Indiana, Kentucky, Maryland, Michigan, New Jersey, North Carolina, Ohio, Pennsylvania, Tennessee, Virginia, West Virginia, and the District of Columbia. PJM Agreements means the PJM Tariff, the PJM Operating Agreement, and any other applicable PJM bylaws, procedures, manuals or documents. PJM Member means any entity satisfying the requirements of PJM to conduct business with PJM. PJM Operating Agreement means the Operating Agreement of PJM. PJM Tariff means the Open Access Transmission Tariff of PJM. PJM Transmission System means the system of transmission lines and associated facilities that have been placed under PJM’s operational control. Products has the meaning set forth in the Recitals hereto; provided, however, that the Products do not include Project Benefits or any item that would otherwise be an environmental benefit or attribute under this definition that is not required for use of the SPAEC for compliance with the AEPS Act. Project Benefits means production tax credits, investment tax credits, or other direct, third- party federal, state, or local subsidies, incentives, grants, credits, rebates, or funding for the purchase, ownership, construction, or operation of a Facility, or the generation of electricity or production of Alternative Energy Credits by a Facility. Qualified Institution means a U.S. commercial bank (or a foreign bank with a U.S. branch) having total assets of at least $10 billion dollars ($10,000,000,000.00) and a Credit Rating equal to or better than “A-” by S&P and an equivalent Credit Rating by Moody’s or ▇▇▇▇▇. Qualified O...
Performance Assurance Amount means the collateral amount for Performance Assurance set forth in Section 1.08. 145. “Payment Invoices” are invoices issued by Seller during the Startup and Delivery Term detailing amounts owed by Anaheim to Seller or by Seller to Anaheim for energy deliveries, CAISO Revenues, CAISO Charges, and other charges and adjustments as may be owed by the Parties, in accordance with EXHIBIT E.