Common use of Performance Liquidated Damages Clause in Contracts

Performance Liquidated Damages. If the Measured Availability for the PV Plant is equal to or greater than ninety-eight percent (98%) (the “Guaranteed Performance”) for any annual reporting period (or, if shorter, the initial reporting period), then the Guaranteed Performance for the PV Plant shall be deemed satisfied for such period and O&M Contractor shall have no liability to Owner in relation to the Guaranteed Performance for the PV Plant. If the Measured Availability is less than the Guaranteed Performance for any annual reporting period (or, if shorter, the initial reporting period), O&M Contractor shall pay Owner, as liquidated damages and not as a penalty, the amount equal to (i) the Guaranteed Availability minus the Measured Availability, multiplied by (ii) the quotient resulting from dividing (A) the actual production of the Facility (in MWh) by

Performance Liquidated Damages. If the Measured Availability for the PV Plant is equal to or greater than ninety-eight percent (9899%) (the “Guaranteed Performance”) for any annual reporting period (or, if shorter, the initial reporting period), then the Guaranteed Performance for the PV Plant shall be deemed satisfied for such period and O&M Contractor shall have no liability to Owner in relation to the Guaranteed Performance for the PV Plant. If the Measured Availability is less than the Guaranteed Performance for any annual reporting period (or, if shorter, the initial reporting period), O&M Contractor shall pay Owner, as liquidated damages and not as a penalty, the amount equal to (i) the Guaranteed Availability minus the Measured Availability, multiplied by (ii) the quotient resulting from dividing (A) the actual production of the Facility (in MWh) by