Common use of Early Exit Fee Clause in Contracts

Early Exit Fee. Refers to a fee paid to the Company prior to the beginning of a Capability Period to reduce the amount of Portfolio Quantity associated with an Aggregation for the remaining duration of the contract (as provided for by Section IX of this Agreement) as relates to the reduction, which is calculated as the product of the Deficient Quantity, multiplied by the Incentive Rate, multiplied by ten percent (10%), multiplied by the remaining full Capability Periods of the contract (keeping in mind that notice of a Deficient Quantity must be provided prior to November 1st of the calendar year prior to a Capability Period). At times, the Early Exit Fee calculation may also be utilized as a calculation to calculate the penalty to be assessed against Applicant for Applicant’s failure to meet Applicant’s Load Relief obligations, and as more particularly set forth under this Agreement. The dollar amount of the Early Exit Fee owed to Con Edison by Applicant may be satisfied (as an offset) by Con Xxxxxx from any future incentive payments due to be paid by Con Xxxxxx to Applicant.

Early Exit Fee. Refers to a fee paid to the Company prior to the beginning of a Capability Period to reduce the amount of Portfolio Quantity associated with an Aggregation for the remaining duration of the contract (as provided for by Section IX of this Agreement) as relates to the reduction, which is calculated as the product of the Deficient Quantity, multiplied by the Incentive Rate, multiplied by ten percent (10%), multiplied by the remaining full Capability Periods of the contract (keeping in mind that notice of a Deficient Quantity must be provided prior to November 1st of the calendar year prior to a Capability Period). At times, the Early Exit Fee calculation may also be utilized as a calculation to calculate the penalty to be assessed against Applicant for Applicant’s failure to meet Applicant’s Load Relief obligations, and as more particularly set forth under this Agreement. The dollar amount of the Early Exit Fee owed to Con Edison by Applicant may be satisfied (as an offset) by Con Xxxxxx Edison from any future incentive payments due to be paid by Con Xxxxxx Edison to Applicant.