2020 TPA Sample Clauses

2020 TPA. Natural Gas Provisions 56 6 The 2020 TPA Maintains Key Features of the 2003 TPA and Eliminates the Inherent Transfer Price Risk 57
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2020 TPA. Key Electricity Provisions and How it Works Like the 2003 TPA, the 2020 TPA allows for the recording of the price of energy transfers associated with BC Hydro’s energy surplus or deficit as well as the‌ Residual System Capability while ensuring that Powerex’s net income represented value added from Powerex’s trading activities. As summarized in section 2.5.7 above, the 2020 TPA achieves this while also removing the transfer price risk associated with the one day at a time allocation and transfer pricing approach in the 2003 TPA because it does not require transactions to be allocated between BC Hydro and Powerex. Rather, it establishes a transfer price that, with the limited exception of transactions requested by BC Hydro at specific times,53 is independent of whether imports or exports are driven by the need to manage BC Hydro’s energy surpluses or deficits or by Powerex’s trade activity using the Residual System Capability; and it replaces the Trade Account with a Transfer Volume Account that includes not only the volume and value of Powerex’s trade activity using the Residual System Capability but also the volume and value of BC Hydro’s actual Annual Flexible Surplus/Deficit. A copy of the 2020 TPA is provided as Appendix A and an annotated version is provided as Appendix B. 53 These are referred to as either Non-Flexible Imports or Non-Flexible Exports which are explained throughout the remainder of this section.
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2020 TPA. Natural Gas Provisions‌ The natural gas provisions in the 2020 TPA have been revised to reflect current circumstances, including applicable gas prices, and the practices for requesting and scheduling natural gas deliveries to BC Hydro. With respect to the generation of electricity, BC Hydro will run its Thermal Generation Plants for Domestic Requirements. The BC Hydro purchase of gas and resulting energy output would serve load and that energy would also then be added to the actual Annual Flexible Surplus/Deficit. To better align the gas generation decision as generally a reliability or capacity based decision, Powerex can purchase the gas at its cost and receive the electricity as an import into the Transfer Volume Account and not have it impact the actual Annual Flexible Surplus/Deficit. This provision allows the plants to be operated for capacity or reliability reasons without altering the overall system energy balance.
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Related to 2020 TPA

  • Late payment on Zero Coupon Notes If the amount payable in respect of any Zero Coupon Note upon redemption of such Zero Coupon Note pursuant to paragraph (a), (b), (c) or (d) above or upon its becoming due and repayable as provided in Condition 11 is improperly withheld or refused, the amount due and repayable in respect of such Zero Coupon Note shall be the amount calculated as provided in paragraph (e)(iii) above as though the references therein to the date fixed for the redemption or the date upon which such Zero Coupon Note becomes due and payable were replaced by references to the date which is the earlier of:

  • Original Issue of Notes The Notes may, upon execution of this Supplemental Indenture, be executed by the Company and delivered to the Trustee for authentication, and the Trustee shall, upon receipt of a Company Order, authenticate and deliver such Notes as in such Company Order provided.

  • Payment of Notes 45 Section 4.02 Maintenance of Office or Agency................................................................ 45 Section 4.03 Reports........................................................................................ 45 Section 4.04

  • Interest on Floating Rate Notes (a) Interest Payment Dates Each Floating Rate Note bears interest from (and including) the Interest Commencement Date and such interest will be payable in arrear on either:

  • Payment on Maturity Date Borrower shall pay to Lender on the Maturity Date the outstanding principal balance of the Loan, all accrued and unpaid interest and all other amounts due hereunder and under the Note, the Mortgage and the other Loan Documents.

  • Additional Issuances of Notes Subject to clauses (ii), (iii), (iv) and (v) of Section 2.02 and Section 2.03 of the Indenture Supplement, the Issuer may issue additional Class A(2022-2) Notes, so long as the following conditions precedent are satisfied:

  • Final Maturity Date 23 Fitch.........................................................................................23

  • Interest on Fixed Rate Notes Each Fixed Rate Note bears interest from (and including) the Interest Commencement Date at the rate(s) per annum equal to the Rate(s) of Interest. Interest will be payable in arrear on the Interest Payment Date(s) in each year up to (and including) the Maturity Date. If the Notes are in definitive form, except as provided in the applicable Final Terms, the amount of interest payable on each Interest Payment Date in respect of the Fixed Interest Period ending on (but excluding) such date will amount to the Fixed Coupon Amount. Payments of interest on any Interest Payment Date will, if so specified in the applicable Final Terms, amount to the Broken Amount so specified. As used in the Conditions, Fixed Interest Period means the period from (and including) an Interest Payment Date (or the Interest Commencement Date) to (but excluding) the next (or first) Interest Payment Date. Except in the case of Notes in definitive form where an applicable Fixed Coupon Amount or Broken Amount is specified in the applicable Final Terms, interest shall be calculated in respect of any period by applying the Rate of Interest to:

  • Purchase of Notes By Principal Life Principal Life may purchase some or all of the Notes in the open market or otherwise at any time, and from time to time. Simultaneously, upon such purchase, (1) the purchased Notes shall, by their terms become mandatorily redeemable by the Trust as specified in the related Pricing Supplement, Prospectus Supplement and/or Prospectus and (2) the Fund under this Agreement shall be permanently reduced by the same percentage as the principal amount of the Notes so redeemed bears to the sum of (i) the aggregate principal amount of all Notes issued and outstanding immediately prior to such redemption and (ii) the principal amount of the Trust Beneficial Interest related to such Notes. If Principal Life, in its sole discretion, engages in such open market or other purchases, then the Trust, the Indenture Trustee in respect of such Notes, and Principal Life shall take actions (including, in the case of Principal Life, making the payment(s) necessary to effect the Trust’s redemption of such Notes) as may be necessary or desirable to effect the cancellation of such Notes by the Trust.

  • Payment of Extension Fee The Borrower shall pay to the Agent for the pro rata accounts of the Lenders in accordance with their respective Commitments an extension fee in an amount equal to fifteen (15) basis points on the Total Commitment in effect on the Maturity Date (as determined without regard to such extension), which fee shall, when paid, be fully earned and non-refundable under any circumstances.

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