Common use of Facility Performance Clause in Contracts

Facility Performance. The test of Facility performance described -------------------- in the next sentence shall have verified that the requirements set forth therein have been satisfied. Within thirty (30) days prior to the Closing, Purchaser and ComEd shall jointly conduct a test at each Facility in accordance with the procedures set forth in Schedule 7.9 (Facility Performance Tests) to verify that ------------ the Net Dependable Capacity of each unit at each Site, the Regulating Performance Value (RPV) for such unit (other than any peaking unit) and the minimum operating level for each such unit satisfy the applicable requirements of Appendix B of the Power Purchase Agreements (and, in the case of peaking units, Appendix A of the Power Purchase Agreement (Peaking Units)); provided, -------- however, that if a Site is in an Outage during such thirty (30)-day period, then ------- this condition shall be deemed satisfied with respect to the units at such Site if Purchaser has observed such units operating at the levels required by this Section 7.9 (Facility Performance) within ninety (90) days prior to the Closing; ----------- and provided, further, that if any unit at a Site cannot satisfy the RPV -------- ------- requirement set forth in this Section 7.9 (Facility Performance), such RPV ----------- requirement shall nevertheless be deemed satisfied with respect to such unit to the extent ComEd adjusts the RPV requirement in Appendix B of the Power Purchase Agreement to reflect the RPV actually demonstrated; and provided, further, that -------- ------- the failure of one or more peaking units to meet the Net Dependable Capacity and/or minimum operating level for such unit or units shall not be deemed a failure to satisfy this Section 7.9 (Facility Performance) unless such failures ----------- in the aggregate constitute a Material Adverse Effect.

Appears in 1 contract

Sources: Asset Sale Agreement (Commonwealth Edison Co)

Facility Performance. The test of Facility performance described -------------------- in the next sentence shall have verified that the requirements set forth therein have been satisfied. Within thirty (30) days prior to the Closing, Purchaser and ComEd shall jointly conduct a test at each Facility in accordance with the procedures set forth in Schedule 7.9 (Facility Performance Tests) to verify that ------------ the Net Dependable Capacity of each unit at each Site, the Regulating Performance Value (RPV) for such unit (other than any peaking unit) and the minimum operating level for each such unit satisfy the applicable requirements of Appendix B of the Power Purchase Agreements (and, in the case of peaking units, Appendix A of the Power Purchase Agreement (Peaking Units)); provided, -------- however, that if a Site is in an Outage during such thirty (30)-day period, then ------- this condition shall be deemed satisfied with respect to the units at such Site if Purchaser has observed such units operating at the levels required by this Section 7.9 (Facility Performance) within ninety (90) days prior to the Closing; ----------- and provided, further, that if any unit at a Site cannot satisfy the RPV -------- ------- requirement set forth in this Section 7.9 (Facility Performance), such RPV ----------- requirement shall nevertheless be deemed satisfied with respect to such unit to the extent ComEd adjusts the RPV requirement in Appendix B of the Power Purchase Agreement to reflect the RPV actually demonstrated; and provided, further, that -------- --------- ------- the failure of one or more peaking units to meet the Net Dependable Capacity and/or minimum operating level for such unit or units shall not be deemed a failure to satisfy this Section 7.9 (Facility Performance) unless such failures ----------- in the aggregate constitute a Material Adverse Effect.

Appears in 1 contract

Sources: Asset Sale Agreement (Edison Mission Energy)