Total Guarantee Year Savings definition

Total Guarantee Year Savings is defined as the summation of Cost Avoidance realized by Facilities in each Guarantee Year as a result of the Retrofit, and Support Services provided by Honeywell, as well as Excess Savings, if any, carried forward from previous years.
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Total Guarantee Year Savings is defined as the amount of Energy and Operational Savings realized by Facilities in each Guarantee Year as a result of the Work.
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Examples of Total Guarantee Year Savings in a sentence

  • In the event that the Total Guarantee Year Savings in any Guarantee Year is less than the Annual Scheduled Savings, after giving credit for any Excess Savings carried forward from previous Guarantee Years pursuant to Section C.3.1.4, Honeywell shall, upon receipt of written demand from Customer, compensate Customer the amount of any such shortfall, in such form as agreed to by the parties, limited by the total value of the Guaranteed Savings, within sixty (60) days.

  • The Guaranteed Savings in each Guarantee Year are considered satisfied if the Total Guarantee Year Savings for such Guarantee Year equals or exceeds the Annual Scheduled Savings.

Related to Total Guarantee Year Savings

  • Guarantee Period /’Maintenance Period’ shall mean the period during which the Contractor shall remain liable for repair or replacement of any defective part of the works performed under the contract.

  • EBITDA means, with respect to any Person for any period, the net income for such Person for such period plus the sum of the amounts for such period included in determining such net income in respect of (i) interest expense, (ii) income tax expense, and (iii) depreciation and amortization expense, in each case as determined in accordance with GAAP.

  • Total Net Leverage Ratio means, as of any date of determination, the ratio, on a Pro Forma Basis, of (a) Consolidated Total Indebtedness as of such date to (b) Consolidated EBITDA for the most recently completed Test Period.