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(e).

Performance Assurance Amount is defined in Section 7.1.

Performance Assurance Amount has the meaning set forth in Section 1.07(a)(ii).

Examples of Performance Assurance Amount in a sentence

• Return of Seller’s Performance Assurance and Reduction in Performance Assurance Amount.

• 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.

• Further, if the Performance Assurance Amount held by Buyer is insufficient to make such payment in full, Buyer may net out the remaining outstanding amount against amounts due to the Seller from Buyer, if any.

• Further, unless specified otherwise, where payment is due to Buyer from Seller and such payment is not received by the payment due date, Seller’s Performance Assurance will be drawn to apply to such payment or a portion of such payment if the Performance Assurance Amount held by Buyer is insufficient to make such payment in full.

• Any such request (along with any Letter of Credit amendment if applicable) shall be honored by Buyer within thirty (30) days; and Upon the completion of the last annual review process pursuant to Section 4.2(c) for all Designated Systems included in the last Product Order under this Agreement, Seller may request for the return of any remaining Performance Assurance Amount.

More Definitions of Performance Assurance Amount

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 1.06.

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 1.08. 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.

Performance Assurance Amount means as of the date of determination the sum of (x) the lesser of (A) 4.5% of the aggregate unpaid principal balance of all mortgage loans sold by the Purchaser or securitized pursuant to this Agreement on or after October 30, 1996 and (B) the aggregate amount of any Proceeds Shortfall hereunder related to all mortgage loans sold by Purchaser or securitized pursuant to this Agreement on or after October 30, 1996, each computed as of such date of determination and (y) such amount, not to exceed $10.0 million, as is equal to the product of 0.28 multiplied by the aggregate unpaid principal balance of all loans held by the Purchaser under this Agreement that, as of such date of determination are more than 59 days delinquent, in each case under clauses (x) and (y) above to the extent the amount calculated under any of such clauses is not paid by the Seller to the Purchaser on or prior to such date of determination. The Performance Assurance Amount shall be calculated by the Purchaser in good faith, and such calculation shall be binding on both parties hereto.

Performance Assurance Amount means the amount of any positive Xxxx-to-Market Value as calculated in accordance with EXHIBIT M.