Availability Guarantee. 4.3.1 Seller guarantees that the Actual Availability of the Facility for each of the Peak and Off-Peak Periods of each Contract Year will equal or exceed [redacted] ("Availability Guarantee"); provided, however, that (i) the first three months of operation following the Commencement Date shall be excluded from the Availability Guarantee, (ii) if and to the extent that a Force Majeure event affects Seller's ability to achieve the Availability Guarantee, other than in the case of Equipment Breakdown, Seller shall be excused from the Availability Guarantee (and in this regard the Parties shall follow the procedures contemplated in Section 11), and (iii) to the extent that the Facility is fired with fuel oil in excess of forty-eight (48) hours per combustion turbine unit in any Contract Year in order to meet Purchaser's Request for Energy, then for every additional ten (10) hours that the Facility is fired using fuel oil, the lower end of the Availability Guarantee range, and the [redacted] in Sections 4.3.5.1 and 4.3.5.2, shall be reduced by [redacted], which reductions shall remain in effect until the next Planned Major Maintenance occurs. If either combustion turbine is not fired on oil during any Contract Year for the same number of hours as the other combustion turbine, then for purposes of calculating the adjustment to the Availability Guarantee, each combustion turbine will be deemed to have been fired on oil during such Contract Year for a number of hours that is equal to one half of the summation of the number of hours that each combustion turbine was actually fired on oil during such Contract Year. 4.3.2 In each Contract Year, or partial Contract Year in the case of the first Contract Year (where the first three months are excluded) or the last Contract Year, Seller shall be entitled to an availability incentive payment from Purchaser ("Availability Incentive Payment") equal to [redacted]. 4.3.3 The Actual Availability for the Peak Period of each Contract Year, or partial Contract Year in the case of the first Contract Year (where the first three months are excluded) or the last Contract Year, shall be calculated as follows and then rounded up or down to the nearest tenth of a percentage point (based on the method that the rounding is up if the succeeding decimal is 5 or higher or otherwise the rounding is down); provided, however, that such Actual Availability shall not exceed one (1.00):
Appears in 3 contracts
Sources: Power Purchase Agreement (Southern Power Co), Power Purchase Agreement (Southern Power Co), Power Purchase Agreement (Southern Power Co)