Formula Rate Sample Clauses
A Formula Rate clause establishes a method for determining charges, fees, or payments based on a predefined mathematical formula rather than a fixed amount. In practice, this clause might specify that interest, royalties, or service fees are calculated according to variables such as market indices, usage levels, or cost fluctuations, which are plugged into the agreed formula. The core function of this clause is to provide a transparent and adaptable mechanism for adjusting payments in response to changing circumstances, thereby ensuring fairness and predictability for both parties.
Formula Rate. The Formula Rate for the Monthly Contract Price consists of the following components and will be determined on a Monthly basis for each Buyer as follows: Monthly Contract Price ($/mo) = FPP ($/mo) + FOM ($/mo) + VOM ($/kWh) * Net Energy (kWh/mo) + FC ($/mo) + CRA ($/mo) - NESC ($/mo) - OPC ($/mo) + CPA where : FPP = Fixed Project Payment, expressed in dollars per month, for the Project Cost categories listed in Exhibit 5.2(d), Part A FOM = Fixed Operations & Maintenance Payment, expressed in dollars per month for the Project Cost categories listed in Exhibit 5.2(d), Part B VOM = Variable Operations & Maintenance Payment, expressed in dollars per kilowatt hour, for the Project Cost categories listed in Exhibit 5.2(d), Part C FC = Fuel Cost Payment, expressed in dollars per month, for the Project Cost categories listed in Exhibit 5.2(d) Part D CRA = Capital Replacement and Additions, expressed in dollars per month, for the Project Cost categories listed in Exhibit 5.2(d), Part E NESC = Net Energy Sales Credit, expressed in dollars per month OPC = Other Products Credit, expressed in dollars per month, for the Project Cost categories listed in Exhibit 5.2(d), Part F CPA= Contract Price Adjustment, expressed in dollars per month, as defined in section 5.2(d)(viii).
Formula Rate. 12 Class A-6 Distribution Amount.....................................................................12 Class A-6 Interest Carry Forward Amount...........................................................12
Formula Rate. The Formula Rate for the Contract Price consists of the following components and will be determined on a Monthly basis for each Buyer as follows: Monthly Contract Price ($/mo) = FPP ($/mo) + VOM ($/kWh) * Net Energy (kWh/mo) + FC ($/mo) + CRA ($/mo) - OPR ($/mo) - FPRC ($/mo) where :
(a) FOM = Fixed Operations & Maintenance Payment, expressed in dollars per month for the Project Cost categories listed in Exhibit 6.3(b) VOM= Variable Operations & Maintenance Payment, expressed in dollars per kilowatt hour, for the Project Cost categories listed in Exhibit 6.3(c) FC= Fuel Cost Payment, expressed in dollars per month, for the Project Cost categories listed in Exhibit 6.3(d) CRA= Capital Replacement and Additions, expressed in dollars per month, for the Project Cost categories listed in Exhibit 6.3(e) OPR= Other Products Revenue, expressed in dollars per month, for the Project Cost categories listed in Exhibit 6.3(f) FPRC = Fixed Payment Revenue Credit, expressed in dollars per month, for Fixed Project Payment revenue received in excess of the debt service payable in the previous Contract Year after taking into account the allowed rate of return for Project Equity Investors, if any, lender debt service coverage ratio requirements and other customary financing requirements
Formula Rate. 20 GreenPoint..............................................................................................20