Common use of Storage Availability; Storage Efficiency Clause in Contracts

Storage Availability; Storage Efficiency. (a) During each Contract Year of the Delivery Term, Seller shall maintain an Annual Storage Availability of not less than ninety-five percent (95%) (“Guaranteed Storage Availability”). If the Annual Storage Availability for any Contract Year is less than the Guaranteed Storage Availability, Seller shall pay to Buyer the Storage Availability Liquidated Damages, as calculated pursuant to Schedule 6.3. During each Contract Year of the Delivery Term, Seller shall maintain a Storage Efficiency of not less than the applicable guaranteed storage efficiency set forth on Schedule 6.3 (the “Guaranteed Storage Efficiency”). If the Storage Efficiency for any Contract Year is less than the applicable Guaranteed Storage Efficiency, Seller shall pay to Buyer the Storage Efficiency Liquidated Damages, as calculated pursuant to Schedule 6.3. (b) Except as otherwise expressly provided for in Section 15.1(k) and Section

Appears in 2 contracts

Sources: Power Purchase Agreement, Power Purchase Agreement