Common use of Payment Statement and Payment Clause in Contracts

Payment Statement and Payment. No later than 30 days after the end of each calendar month (or the last day of the month if the month in which the payment statement is being sent is February), or the last Business Day of the month if such 30th day (or 28th or 29th day for February) is not a Business Day, Buyer shall mail to Seller: A table showing the hourly electric energy quantities for each of the following, in MWh per hour: Seller’s Energy Forecast; Seller’s Day-Ahead Forecast; Metered Energy; Metered Amounts; The final Buyer Energy Schedule; and The final Buyer Parent Energy Schedule. A statement showing: XXX Period subtotals and overall monthly totals for each of the items set forth in Section 4.03(a)(i); A calculation of the Monthly Contract Payment, as set forth in Exhibit D; A calculation of any payment adjustments pursuant to Section 4.02; If Section 1.06(d) provides that Buyer has assumed some or all of the GHG Compliance Costs under this Agreement, a calculation of any payment adjustments pursuant to Exhibit S; and A calculation of the net dollar amount due for the month. Buyer’s payment to Seller, in accordance with Section 9.15, in the net dollar amount owed to Seller for the month (less any overpayments by Buyer of Seller’s GHG Compliance Costs, if any, under Section 4.04 in any calendar month); provided, however, in the event the statement shows a net amount owed to Buyer, Seller shall pay such amount within 20 days of the statement date or, if Seller fails to make such payment, Buyer may offset this amount from a subsequent Monthly Contract Payment. If Buyer determines that a calculation of Metered Energy or Metered Amounts is incorrect as a result of an inaccurate meter reading or the correction of data by the CAISO in the CAISO’s meter-data acquisition and processing system, Buyer shall promptly recompute the Metered Energy or Metered Amounts quantity for the period of the inaccuracy based on an adjustment of such inaccurate meter reading in accordance with the CAISO Tariff. Buyer shall then promptly recompute any payment or payment adjustment affected by such inaccuracy. Any amount due from Buyer to Seller or Seller to Buyer, as the case may be, shall be made as an adjustment to the next monthly statement that is calculated after Xxxxx’s recomputation using corrected measurements. If the recomputation results in a net amount owed to Buyer after offsetting any amounts owing to Seller as shown on the next monthly statement, any such additional amount still owing to Buyer shall be shown as an adjustment on Seller’s monthly statement until such amount is fully collected by Buyer. At Buyer’s sole discretion, Buyer may offset any remaining amount owed to Buyer in any subsequent monthly payments to Seller or invoice Seller for such amount, in which case Seller must pay the amount owing to Buyer within 20 days of receipt of such invoice. Buyer reserves the right to deduct amounts that would otherwise be due to Seller under this Agreement from any amounts owing and unpaid by Seller to Buyer: Under this Agreement; or Arising out of or related to any other agreement, tariff, obligation or liability pertaining to the Generating Facility. Except as provided in Section 4.03(b) and as otherwise provided in this Section 4.03(d), if, within 45 days of receipt of Buyer’s payment statement, Seller does not give Notice to Buyer of an error, then Seller shall be deemed to have waived any error in Buyer’s statement, computation and payment and the statement shall be conclusively deemed correct and complete; provided, however, that if an error is identified by Seller as a result of settlement, audit or other information provided to Seller by the CAISO after the expiration of the original 45-day period, Seller shall have an additional 90 days from the date on which it receives the information from the CAISO in which to give Notice to Buyer of the error identified by such settlement, audit or other information. If Xxxxxx identifies an error in Seller’s favor and Xxxxx agrees that the identified error occurred, Xxxxx shall reimburse Seller for the amount of the underpayment caused by the error and add the underpayment to the next monthly statement that is calculated. If Xxxxxx identifies an error in Xxxxx’s favor and Xxxxx agrees that the identified error occurred, Xxxxxx shall reimburse Buyer for the amount of overpayment caused by the error and Buyer shall apply the overpayment to the next monthly statement that is calculated. If the recomputation results in a net amount still owing to Buyer after applying the overpayment, the next monthly statement shall show a net amount owing to Buyer. At Buyer’s sole discretion, Buyer may apply this net amount owing to Buyer in any subsequent monthly statements to Seller or invoice Seller for such amount, in which case Seller must pay the amount owing to Buyer within 20 days of receipt of such invoice. The Parties shall negotiate to resolve any disputes regarding claimed errors in a statement. Any disputes which the Parties are unable to resolve through negotiation may be submitted for resolution through the dispute resolution procedure in Article Ten. Nothing in this Section 4.03 limits a Party’s rights under applicable tariffs, other agreements or Applicable Law.

Payment Statement and Payment. No later than 30 days after the end of each calendar month (or the last day of the month if the month in which the payment statement is being sent is February), or the last Business Day of the month if such 30th day (or 28th or 29th day for February) is not a Business Day, Buyer shall mail to Seller: A table showing the hourly electric energy quantities for each of the following, in MWh per hour: Seller’s Energy Forecast; Seller’s Day-Ahead Forecast; Metered Energy; Metered Amounts; The final Buyer Energy Schedule; and The final Buyer Parent Energy Schedule. A statement showing: XXX Period subtotals and overall monthly totals for each of the items set forth in Section 4.03(a)(i); A calculation of the Monthly Contract Payment, as set forth in Exhibit D; A calculation of any payment adjustments pursuant to Section 4.02Sections 4.02 or 4.04; If Section 1.06(d) provides that Buyer has assumed some or all of the GHG Compliance Costs under this Agreement, a A calculation of any payment adjustments pursuant to Exhibit S; and A calculation of the net dollar amount due for the month. Buyer’s payment to Seller, in accordance with Section 9.15, in the net dollar amount owed to Seller for the month (less including a deduction for any overpayments by Buyer of Seller’s GHG Compliance Costs, if any, under Section 4.04 in any calendar month); provided, however, in the event the statement shows a net amount owed to Buyer, Seller shall pay such amount within 20 days of the statement date or, if Seller fails to make such payment, Buyer may offset this amount from a subsequent Monthly Contract Payment. If Buyer determines that a calculation of Metered Energy or Metered Amounts is incorrect as a result of an inaccurate meter reading or the correction of data by the CAISO in the CAISO’s meter-data acquisition and processing system, Buyer shall promptly recompute the Metered Energy or Metered Amounts quantity for the period of the inaccuracy based on an adjustment of such inaccurate meter reading in accordance with the CAISO Tariff. Buyer shall then promptly recompute any payment or payment adjustment affected by such inaccuracy. Any amount due from Buyer to Seller or Seller to Buyer, as the case may be, shall be made as an adjustment to the next monthly statement that is calculated after Xxxxx’s recomputation using corrected measurements. If the recomputation results in a net amount owed to Buyer after offsetting any amounts owing to Seller as shown on the next monthly statement, any such additional amount still owing to Buyer shall be shown as an adjustment on Seller’s monthly statement until such amount is fully collected by Buyer. At Buyer’s sole discretion, Buyer may offset any remaining amount owed to Buyer in any subsequent monthly payments to Seller or invoice Seller for such amount, in which case Seller must pay the amount owing to Buyer within 20 30 days of receipt of such invoice. Buyer reserves the right to deduct amounts that would otherwise be due to Seller under this Agreement from any amounts owing and unpaid by Seller to Buyer: Under this Agreement; or Arising out of or related to any other agreement, tariff, obligation or liability pertaining to the Generating Facility. Except as provided in Section 4.03(b) and as otherwise provided in this Section 4.03(d), if, within 45 days of receipt of Buyer’s payment statement, Seller does not give Notice to Buyer of an error, then Seller shall be deemed to have waived any error in Buyer’s statement, computation and payment and the statement shall be conclusively deemed correct and complete; provided, however, that if an error is identified by Seller as a result of settlement, audit or other information provided to Seller by the CAISO after the expiration of the original 45-day period, Seller shall have an additional 90 days from the date on which it receives the information from the CAISO in which to give Notice to Buyer of the error identified by such settlement, audit or other information. If Xxxxxx identifies an error in Seller’s favor and Xxxxx agrees that the identified error occurred, Xxxxx shall reimburse Seller for the amount of the underpayment caused by the error and add the underpayment to the next monthly statement that is calculated. If Xxxxxx identifies an error in Xxxxx’s favor and Xxxxx agrees that the identified error occurred, Xxxxxx shall reimburse Buyer for the amount of overpayment caused by the error and Buyer shall apply the overpayment to the next monthly statement that is calculated. If the recomputation results in a net amount still owing to Buyer after applying the overpayment, the next monthly statement shall show a net amount owing to Buyer. At Buyer’s sole discretion, Buyer may apply this net amount owing to Buyer in any subsequent monthly statements to Seller or invoice Seller for such amount, in which case Seller must pay the amount owing to Buyer within 20 days of receipt of such invoice. The Parties shall negotiate to resolve any disputes regarding claimed errors in a statement. Any disputes which the Parties are unable to resolve through negotiation may be submitted for resolution through the dispute resolution procedure in Article Ten. Nothing in this Section 4.03 limits a Party’s rights under applicable tariffs, other agreements or Applicable Law.

Payment Statement and Payment. No Subject to Section 3.20, no later than 30 thirty (30) days after the end of each calendar month (or the last day of the month if the month in which the payment statement is being sent is February), or the last Business Day of the month if such 30th day (or 28th or 29th day for February) is not a Business Day, Buyer shall mail to Seller: A table showing the hourly electric energy quantities for each of the following, in MWh per hour: Seller’s Energy Forecast; Seller’s Day-Ahead Forecast; Metered Energy; Metered Amounts; The final Buyer Energy Schedule; and The final Buyer Parent Energy Schedule. A statement showing: XXX Period subtotals and overall monthly totals for each of the items set forth in Section 4.03(a)(i); . A calculation of the Monthly Contract Payment, as set forth in Exhibit D; A calculation of any payment adjustments pursuant to Section 4.02; If Section 1.06(d) provides that Buyer has assumed some or all of the GHG Compliance Costs under this Agreement, a calculation of any payment adjustments pursuant to Exhibit S; and A calculation of the net dollar amount due for the month. Buyer’s payment to Seller, in accordance with Section 9.15, in the net dollar amount owed to Seller for the month (less any overpayments by Buyer of Seller’s GHG Compliance Costs, if any, under Section 4.04 in any calendar month); provided, however, in the event the statement shows a net amount owed to Buyer, Seller shall pay such amount within 20 twenty (20) days of the statement date or, if Seller fails to make such payment, Buyer may offset this amount from a subsequent Monthly Contract Payment. If Buyer determines that a calculation of Metered Energy or Metered Amounts is incorrect as a result of an inaccurate meter reading or the correction of data by the CAISO in the CAISO’s meter-data acquisition and processing system, Buyer shall promptly recompute the Metered Energy or Metered Amounts quantity for the period of the inaccuracy based on an adjustment of such inaccurate meter reading in accordance with the CAISO Tariff. Buyer shall then promptly recompute any payment or payment adjustment affected by such inaccuracy. Any amount due from Buyer to Seller or Seller to Buyer, as the case may be, shall be made as an adjustment to the next monthly statement that is calculated after Xxxxx’s recomputation using corrected measurements. If the recomputation results in a net amount owed to Buyer after offsetting any amounts owing to Seller as shown on the next monthly statement, any such additional amount still owing to Buyer shall be shown as an adjustment on Seller’s monthly statement until such amount is fully collected by Buyer. At Buyer’s sole discretion, Buyer may offset any remaining amount owed to Buyer in any subsequent monthly payments to Seller or invoice Seller for such amount, in which case Seller must pay the amount owing to Buyer within 20 twenty (20) days of receipt of such invoice. Buyer reserves the right to deduct amounts that would otherwise be due to Seller under this Agreement from any amounts owing and unpaid by Seller to Buyer: Under this Agreement; or Arising out of or related to any other agreement, tariff, obligation or liability pertaining to the Generating Facility. Except as provided in Section 4.03(b(b) and as otherwise provided in this Section 4.03(d(d), if, within 45 forty-five (45) days of receipt of Buyer’s payment statement, Seller does not give Notice to Buyer of an error, then Seller shall be deemed to have waived any error in Buyer’s statement, computation and payment and the statement shall be conclusively deemed correct and complete; provided, however, that if an error is identified by Seller as a result of settlement, audit or other information provided to Seller by the CAISO after the expiration of the original forty-five (45-) day period, Seller shall have an additional 90 ninety (90) days from the date on which it receives the information from the CAISO in which to give Notice to Buyer of the error identified by such settlement, audit or other information. If Xxxxxx identifies an error in Seller’s favor and Xxxxx agrees that the identified error occurred, Xxxxx shall reimburse Seller for the amount of the underpayment caused by the error and add the underpayment to the next monthly statement that is calculated. If Xxxxxx identifies an error in Xxxxx’s favor and Xxxxx agrees that the identified error occurred, Xxxxxx shall reimburse Buyer for the amount of overpayment caused by the error and Buyer shall apply the overpayment to the next monthly statement that is calculated. If the recomputation results in a net amount still owing to Buyer after applying the overpayment, the next monthly statement shall show a net amount owing to Buyer. At Buyer’s sole discretion, Buyer Xxxxx may apply this net amount owing to Buyer in any subsequent monthly statements to Seller or invoice Seller for such amount, in which case Seller must pay the amount owing to Buyer within 20 twenty (20) days of receipt of such invoice. The Parties shall negotiate to resolve any disputes regarding claimed errors in a statement. Any disputes which the Parties are unable to resolve through negotiation may be submitted for resolution through the dispute resolution procedure in Article Ten. Nothing in this Section 4.03 limits a Party’s rights under applicable tariffs, other agreements or Applicable Law.