TOU Transactions Clause Samples
The "TOU Transactions" clause defines the rules and procedures governing transactions conducted under the Terms of Use (TOU) agreement. It typically outlines how users may buy, sell, or exchange goods, services, or digital assets on a platform, specifying requirements such as payment methods, transaction processing, and any applicable fees. By establishing clear guidelines for these transactions, the clause helps ensure consistency, transparency, and fairness in user interactions, thereby reducing disputes and clarifying the responsibilities of all parties involved.
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TOU Transactions. (i) With respect to each Transaction, for each Billing Month, the Company will prepare a Statement of amounts due to or due from the TOU Supplier. This Statement will show the amounts due to the TOU Supplier, equal to the sum of: (a) an off-peak charge equal to the product of the TOU Off-Peak Price and the sum of the PHEA in each TOU Off-Peak Hour of the Billing Month, and (b) an on-peak charge equal to the product of the TOU On-Peak Price and the sum of the PHEA in each TOU On-Peak Hour of the Billing Month. If such amount is negative, such amount shall be due from the TOU Supplier.
(ii) With respect to each Transaction, to the extent that the FHEA differs from the PHEA, the Company will calculate the PHEA/FHEA Adjustment Amount for each hour by multiplying the difference between the two amounts by the TOU On-Peak Price or the TOU Off-Peak Price, as applicable, and will sum the negative and positive dollar values over all hours to arrive at a net PHEA/FHEA Adjustment Amount for the Billing Month. Based on the calculated net PHEA/FHEA Adjustment Amount, the Company will pay or charge the TOU Supplier for such billing adjustments within the PJM deadline for conducting the final settlement.