Capacity Sales and Purchases and Reserve Shortfalls Sample Clauses

Capacity Sales and Purchases and Reserve Shortfalls. (a) The Agent shall coordinate and otherwise assist the Companies in making off-System capacity sales and purchases.
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Capacity Sales and Purchases and Reserve Shortfalls. (a) The Agent is hereby authorized to operate the system as a single control area and shall coordinate and assist the Companies in off-System capacity sales and purchases as may be required by the System to market excess System Capability or meet System Capability deficiencies.
Sample 1
Capacity Sales and Purchases and Reserve Shortfalls. (a) The Agent is hereby authorized to operate the system as a single control area and shall coordinate and assist the Companies in off-System capacity sales and purchases as may be required by the System to market excess System Capability or meet System Capability deficiencies. (b) All capacity purchases and sales effective beyond the effective date of this Agreement shall be coordinated by the Agent, recommended by the Operating Committee, and approved by the CEO. (c) The System Reserve Capacity shall be at the disposal of any Company requiring such capacity. Should the System be short of capacity as a result of an emergency and be unable to purchase the deficit, each Company shall take such actions as are necessary to bring system load and generation into balance. 6.05 Energy Exchange Among the Companies The Agent shall schedule System Energy output to obtain the lowest cost of Energy for serving System Demand consistent with each Company's operating and security constraints, including voltage control, stability, loading of facilities, operating guides as recommended by the Operating Committee and approved by the CEO, environmental requirements and continuity of service to customers. 6.06 Energy Exchange Pricing For the purpose of pricing Energy exchange among the Companies, System resources shall be utilized to serve System requirements in the following order: (a) Those Generating Units which are designated not to be operated in the order of lowest to highest Variable Cost but are required due to Company operating constraints shall be allocated to the Company requiring the Generating Unit. (b) The lowest Variable Cost generation of each Company's capability shall first be allocated to serve its Own Load. (c) The next lowest Variable Cost portion of each Company's remaining capability shall be allocated to serve Pool Energy requirements of Companies under System Economic Dispatch. Pool Energy shall be priced in accordance with Schedule D. 6.07 Energy Exchanges With Non-Affiliated Utilities The Agent shall coordinate and direct off-System purchases of Energy necessary to meet System requirements or improve System economies. The Agent shall coordinate and direct off-System sales of Energy available after meeting all of the requirements of the System including the energy associated with contractual requirements for off-System capacity sales. Any off-System economy Energy purchases or sales shall be implemented by decremental or incremental System Economic D...
Sample 1

Related to Capacity Sales and Purchases and Reserve Shortfalls

  • Excess Spread On or before each Transfer Date, the Servicer shall instruct the Trustee in writing (which writing shall be substantially in the form of Exhibit B hereto) to apply Excess Spread with respect to the related Monthly Period to make the following distributions on each Transfer Date in the following priority:

  • Excess Cash Flow No later than ten (10) Business Days after the date on which the financial statements with respect to each fiscal year of Holdings ending on or after December 31, 2019 in which an Excess Cash Flow Period occurs are required to be delivered pursuant to Section 5.01(a) (each such date, an “ECF Payment Date”), the Borrower shall, if and to the extent Excess Cash Flow for such Excess Cash Flow Period exceeds $1,375,000, make prepayments of Term Loans in accordance with Section 2.10(h) and (i) in an aggregate amount equal to (A) the Applicable ECF Percentage of Excess Cash Flow for the Excess Cash Flow Period then ended (for the avoidance of doubt, including the $1,375,000 floor referenced above) (B) minus $1,375,000 minus (C) at the option of the Borrower, the aggregate principal amount of (x) any Term Loans, Incremental Term Loans, Revolving Loans or Incremental Revolving Loans (or, in each case, any Credit Agreement Refinancing Indebtedness in respect thereof), in each case prepaid pursuant to Section 2.10(a), Section 2.16(b)(B) or Section 10.02(e)(i) (or pursuant to the corresponding provisions of the documentation governing any such Credit Agreement Refinancing Indebtedness) (in the case of any prepayment of Revolving Loans and/or Incremental Revolving Loans, solely to the extent accompanied by a corresponding permanent reduction in the Revolving Commitment), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date) and (y) the amount of any reduction in the outstanding amount of any Term Loans or Incremental Term Loans resulting from any assignment made in accordance with Section 10.04(b)(vii) of this Agreement (or the corresponding provisions of any Credit Agreement Refinancing Indebtedness issued in exchange therefor), during the applicable Excess Cash Flow Period (or, at the option of the Borrower and without duplication, after such Excess Cash Flow Period and prior to such ECF Payment Date), and in the case of all such prepayments or buybacks, to the extent that (1) such prepayments or buybacks were financed with sources other than the proceeds of long-term Indebtedness (other than revolving Indebtedness to the extent intended to be repaid from operating cash flow) of Holdings or its Restricted Subsidiaries and (2) such prepayment or buybacks did not reduce the amount required to be prepaid pursuant to this Section 2.10(f) in any prior Excess Cash Flow Period (such payment, the “ECF Payment Amount”).

  • Adjustment of Minimum Quarterly Distribution and Target Distribution Levels (a) The Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution, Third Target Distribution, Common Unit Arrearages and Cumulative Common Unit Arrearages shall be proportionately adjusted in the event of any distribution, combination or subdivision (whether effected by a distribution payable in Units or otherwise) of Units or other Partnership Securities in accordance with Section 5.10. In the event of a distribution of Available Cash that is deemed to be from Capital Surplus, the then applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, shall be adjusted proportionately downward to equal the product obtained by multiplying the otherwise applicable Minimum Quarterly Distribution, First Target Distribution, Second Target Distribution and Third Target Distribution, as the case may be, by a fraction of which the numerator is the Unrecovered Capital of the Common Units immediately after giving effect to such distribution and of which the denominator is the Unrecovered Capital of the Common Units immediately prior to giving effect to such distribution.

  • Payment of Repurchase Prices and Substitution Shortfall Amounts The Issuer hereby directs and the Depositor hereby agrees to remit or cause to be remitted all amounts in respect of Repurchase Prices and Substitution Shortfall Amounts payable during the related Due Period in immediately available funds to the Indenture Trustee to be deposited in the Collection Account on the Business Day immediately preceding the related Payment Date for such Due Period in accordance with the provisions of the Indenture. In the event that more than one Timeshare Loan is replaced pursuant to Sections 6(a), (b) or (c) hereof on any Transfer Date, the Substitution Shortfall Amounts and the Loan Balances of Qualified Substitute Timeshare Loans shall be calculated on an aggregate basis for all substitutions made on such Transfer Date.

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