Commitment Period Obligations Sample Clauses
The Commitment Period Obligations clause defines the specific duties and responsibilities that parties must fulfill during a designated commitment period under an agreement. Typically, this clause outlines actions such as maintaining certain service levels, making required payments, or refraining from terminating the agreement early while the commitment period is active. By clearly specifying what is expected during this timeframe, the clause ensures both parties understand their ongoing obligations and helps prevent disputes related to performance or early withdrawal.
Commitment Period Obligations.
4.1 Local Capacity Obligation
(a) The Parties acknowledge that, prior to the Commitment Period, the Participant shall not have an obligation to be available to provide capacity or cause the Contracted DER to Reduce Energy (in the event the Contracted DER is a Demand Response Resource) or Deliver Energy (in the event the Contracted DER is a Gas-fired Resource or a Storage Resource).
(b) As of the Commitment Period Start Time, the Contracted DER shall be available to meet its Local Capacity Obligation.
(c) The Participant will, prior to the Commitment Period Start Time and for the remainder of the Commitment Period unless otherwise exempt pursuant to the terms of this Contract, have registered a Bid/Offer for the Contracted DER in the Local Energy Auction for each hour of the Availability Window. Such Bids/Offers shall remain applicable to each subsequent Availability Window as standing Bids/Offers until amended by the Participant in accordance with Section 4.2 (Bid/Offer Submission) of the Rules.
4.2 Bid/Offer submissions All Bids/Offers shall be in the form prescribed by Section 6.4 (Bid/Offer Format) of the Rules and must comply with the parameters prescribed by the Platform.
Commitment Period Obligations