Power Supply Year Clause Samples

Power Supply Year. The twelve (12) month period commencing at 12:01 a.m. on July 1 of each year during the Operational Term and ending at 12:01 a.m. on the following July 1; provided, however, that (a) if the Transition Date does not occur on July 1 of any year, then the first Power Supply Year shall begin at 12:01 a.m. on the Transition Date and shall end at 12:01 a.m. on the immediately following July 1, and (b) if the Operational Term does not end on June 30 of any year, then the last Power Supply Year shall begin at 12:01 a.m. on the July 1 immediately preceding the last day of the Operational Term and shall end at 12:01 a.m. on the last day of the Operational Term.

Power Supply Year. The Fiscal Year, except that the first Power Supply Year shall begin on the first to occur of (i) the date SCPPA is obligated to pay any portion of the costs of the Project, (ii) the date upon which SCPPA first incurs or accrues costs associated with the issuance of the Bonds, (iii) 90 days before the scheduled date for issuance of the Bonds, (iv) the date of Commercial Operation ofthe Facility, or (v) the date of the first delivery of Energy to Purchaser pursuant to this Agreement. Further, the first Power Supply Year shall end on the last day of the then current Fiscal Year.