Predetermined Costs Sample Clauses

Predetermined Costs. The NYISO shall pay to TC Ravenswood the amounts indicated below (“Predetermined Costs”) in five monthly installments for the relevant Capability Year, which reflect: (i) a portion of the costs to lease one and one half (1½) off-site storage tanks which the Parties understand will provide approximately 240,000 barrels of working capacity of 0.30 percent Sulfur No. 6 fuel oil (“Fuel Oil”) storage; (ii) a portion of the costs TC Ravenswood incurs to lease one large time-chartered barge, which the Parties understand will provide approximately 40,000 barrels of working capacity of Fuel Oil transportation, and the Lemon Creek dockside storage barge or an equivalent replacement of approximately 50,000 barrels of working capacity; (iii) a charge for the use of on-site storage tanks at the Ravenswood Facility; and (iv) certain ancillary fuel oil fees (e.g., labor, barge heating, tank heating, booming, testing, taxes, and carrying charges ). The NYISO shall pay TC Ravenswood for Predetermined Costs irrespective of the costs actually incurred by TC Ravenswood or the amount of Fuel Oil burned in each Capability Year: Initial Capability Year $3,607,243 Second Capability Year $3,607,243 Third Capability Year $3,607,243 TC Ravenswood shall have no claim for additional payments and neither the NYISO nor its customers shall have a claim for a refund or abatement if TC Ravenswood’s actual costs associated with any of the items identified in this Section 3.A are more or less, respectively, than the Predetermined Costs set forth herein.