Examples of Billing Year in a sentence
If the aggregate hours for Outages exceed the Outage Allowance in a given Billing Year, the Parties shall reasonably estimate in good faith the amount of Output that would have been delivered to and purchased by Purchaser during such excess Outages, and Purchaser shall pay Seller for such amount in accordance with this Agreement.
Purchaser shall deliver Notice to Seller of its intent to exercise the Purchase Option at least ninety (90) Days prior to the end of the applicable Billing Year or the Initial Term or Extended Term, as applicable.
The Output Guarantee in any Billing Year shall be reduced by the amount (in kWh), as reasonably estimated by the Parties, of Electricity that Seller was unable to produce and sell to Purchaser as a result of (i) a Force Majeure Event or (ii) a curtailment by Purchaser in excess of the Outage Allowance.
Beginning on the Actual Commercial Operation Date and during each Billing Year throughout the Term, Seller guarantees to deliver Output to Purchaser not less than ninety percent (90%) of the Annual Contract Quantity (in kWh) for such Billing Year, as adjusted by the Site Adjustment Factor (the “Output Guarantee”).
Upon Purchaser’s written request to Seller, Seller shall take the System off-line for a total of up to [forty-eight (48)] daylight hours (as defined by the United States National Weather Service in the area where the System is located) during each Billing Year (each event an “Outage”, and the [forty-eight (48)] hour period, the “Outage Allowance”).