1Capacity Clause Samples

The 'Capacity' clause establishes that each party entering into the agreement has the legal authority and competence to do so. In practice, this means that individuals must be of legal age and sound mind, and organizations must have the proper authorization and legal standing to enter into contracts. This clause ensures that the agreement is legally binding and enforceable by confirming that all parties are capable of understanding and fulfilling their contractual obligations, thereby preventing disputes over the validity of the contract due to lack of capacity.
1Capacity. Buyer shall have the exclusive right to the Contract Capacity from the Project. As of the Effective Date, the Contract Capacity shall equal the Expected Contract Capacity of the Project, without adjustment for temperature, pressure, humidity or other adjustment factors. The actual Contract Capacity and Efficiency Rate of the Project and each Energy Storage System will be determined upon the completion of the Commercial Operation Test for the Project and each year of the Delivery Period in accordance with the testing procedures of Sections 7.2 and 7.3, as applicable. Such tests will demonstrate the Capacity and Efficiency Rate of the Project at the actual ambient conditions existing at the time of each such test and those test results will be adjusted to reflect the equivalent Capacity and Efficiency Rate that would occur at Contract Conditions, and this adjusted Capacity shall be the Contract Capacity; provided, that in no event shall the Contract Capacity of [the Project] (i) exceed PMAX for [the Project/each Energy Storage System (i.e. the Contract Capacity shall be limited to PMAX until such time as Seller gets PMAX increased to the tested Contract Capacity), (ii) exceed the Net Qualifying Capacity (as such term is defined by the CAISO Tariff) for the Project and (iii) exceed 105%of the Energy Storage System’s Expected Contract Capacity as identified in Appendix 1.1. 1. Upon the completion of the Commercial Operation Test or the periodic Contract Capacity Tests for the Project, as applicable, Appendix 1.1.1 shall be automatically amended to reflect the Contract Capacity as achieved by that test and adjusted to Contract Conditions, subject to the limitations in this Section. In addition, Seller shall cause the PMIN for the Project to be no greater than the Minimum Operating Level. Seller agrees that each Energy Storage System is subject to the terms of the Availability Standards. 1.1. 2Energy. Except for Energy resulting from a Non-Buyer Dispatch, Seller commits to make available and sell the Energy of the Project (net of Station Use) to Buyer, and Buyer shall have the exclusive rights to purchase and receive all Energy produced by the Project (net of Station Use), subject to the Operating Restrictions set forth in Appendix 1.1, including pursuant to a forward schedule or a Supplemental Energy instruction from CAISO.
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1Capacity. Buyer shall have the exclusive right to the Contract Capacity of the Project. As of the Effective Date, the Contract Capacity shall equal the Expected Contract Capacity of the Project, without adjustment for temperature, pressure, humidity or other adjustment factors. The actual Contract Capacity of the Project and each Energy Storage System will be determined upon the completion of the Commercial Operation Test and Contract Capacity Test for the Project and each year of the Delivery Period in accordance with the testing procedures of Sections 7.2 and 7.3, as applicable. Such tests will demonstrate the Capacity of the Project, which shall be the Contract Capacity from and after such tests; provided, that in no event shall the Contract Capacity of the Project (i) exceed PMAX for the Project (i.e. the Contract Capacity shall be limited to PMAX until such time as Seller gets PMAX increased to the tested Contract Capacity), (ii) exceed the Qualified RA Capacity or the Qualified Flexible RA Capacity (without giving effect to any Change in RA Law occurring after the Effective Date), whichever is lower, nor (iii) exceed the Energy Storage System’s Expected Contract Capacity as identified in Appendix 1.1.1. Seller agrees that the Energy Storage System is subject to the terms of the Availability Standards.
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1Capacity. (a) Seller has full legal capacity to execute this Agreement and all other instruments and agreements to be delivered by Seller as contemplated hereby (including all Seller Ancillary Agreements to which Seller is a party), comply with the obligations arising hereunder and thereunder and to carry out and complete the transactions provided for herein and therein. (b) This Agreement has been duly executed by Seller, assuming its due authorization, execution and delivery by ▇▇▇▇▇, the obligations provided for herein are legal and valid obligations binding on Seller and each of the Seller Group Parties, as applicable, and which may be raised against the Seller and/or the Seller Group Parties, as applicable, in accordance with their respective terms, subject only to the effects of bankruptcy, insolvency, fraudulent conveyance, reorganization, moratorium and other Applicable Laws affecting creditors’ rights generally and general equitable principles. (c) Seller has the necessary authority to execute this Agreement and all other instruments and agreements to be delivered by Seller as contemplated hereby (including all Seller Ancillary Agreements to which Seller is a party) and to perform the transactions contemplated herein and therein and, as of the date hereof, such authority has not been revoked or modified in any manner whatsoever. (d) The execution and delivery of this Agreement by Seller and all other instruments and agreements to be delivered by Seller as contemplated hereby (including all Seller Ancillary Agreements to which Seller is a party) and the consummation of the transactions contemplated by Seller herein and therein, will not: (i) contravene or violate or result in a breach or a default under or give rise to a right of termination, amendment or cancellation or the acceleration of any obligations of the Seller or the Seller Group Parties under (A) any provision of the constituent documents or by-laws of Seller or the Seller Group Parties; (B) any judgment, injunction, decree, order or award of any Governmental Authority, court, governmental body or arbitrator having jurisdiction over Seller or the Seller Group Parties; or (C) any Applicable Law; (ii) violate, conflict with or permit the cancellation of, or constitute a default (or an event that, with notice or lapse of time or both, would become a default) under, require any consent of any Person pursuant to, or result in the termination, modification or acceleration or maturity of, or result in th...
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1Capacity. Executive shall serve the Company as its Chairman of the Board of Directors of the Company (the “Board”) and Chief Executive Officer, or in such other Board or executive capacity as the Board may designate from time to time, but only upon agreement with Executive.
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Related to 1Capacity

  • Contract Capacity The electric power producing capability of the Generating Facility which is committed to Edison.

  • INDEPENDENT CAPACITY The employees or agents of each party who are engaged in the performance of this Agreement shall continue to be employees or agents of that party and shall not be considered for any purpose to be employees or agents of the other party.

  • Corporate Capacity The Acquirer has the corporate power, capacity and authority to enter into and complete this Agreement;

  • Legal Capacity All parties to the Mortgage Note and the Mortgage had legal capacity to enter into the Mortgage Loan and to execute and deliver the Mortgage Note and the Mortgage, and the Mortgage Note and the Mortgage have been duly and properly executed by such parties. The Mortgagor is a natural person;

  • Individual Capacity The Administrative Agent and its Affiliates may make loans to, accept deposits from and generally engage in any kind of business with the Borrower and its Affiliates as though the Administrative Agent were not an Agent. With respect to the Loans made by it and all obligations owing to it, the Administrative Agent shall have the same rights and powers under this Agreement as any Lender and may exercise the same as though it were not an Agent, and the terms “Required Lenders”, “Lender” and “Lenders” shall include the Administrative Agent in its individual capacity.