Annual Guaranteed Savings definition

Annual Guaranteed Savings means the Guaranteed Savings for each year of the Guarantee Period, as set forth in Schedule C.
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Annual Guaranteed Savings. The amount of Annual Measurable Savings the Contractor will guarantee is consistently achievable with this Agreement. The Annual Guaranteed Savings will be the basis for financing the Energy Conservation Measures outlined in this Agreement. Utilize the following table to indicate Guaranteed Annual Energy Savings in appropriate energy units. Year 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 TOTAL Form E-2: Summary of Proposed Energy Conservation Measures – (Cost Only) Transfer from Form E-2 to show the total project cost for every ECM category. Summary by Category for All Buildings Measure I.D. Category Project Costs ($)
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Annual Guaranteed Savings means the lesser of (a) the portion of the Total Guaranteed Savings guaranteed to be achieved in any one (1) year of the Guarantee Term (see Exhibit B), calculated and adjusted as set forth in Exhibits C and G or (b) the Annual Debt Service for said year.
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Examples of Annual Guaranteed Savings in a sentence

  • To the extent the PEA or the City rejects the Design and Engineering Documents or any portion thereof, and such rejection causes a change to the Contract Sum, the time of completion, the Annual Guaranteed Savings, the Total Guaranteed Savings or any component of this Contract, there shall be an equitable adjustment made.

  • Where there is a Material Change that affects the calculations described and set forth in Schedule E (Baseline Energy Consumption; Baseline Adjustments) and Schedule F (Measurement and Verification), an equitable adjustment shall be made to the calculations described and set forth in same, which may include an equitable adjustment to the baseline, the Annual Guaranteed Savings and the Total Guaranteed Savings.

  • In the event that the actual savings achieved during any one year of the Guarantee Period are less than the Annual Guaranteed Savings set forth in Schedule C (Energy Savings Guarantee), ESCO shall pay the City an amount equal to the deficiency (“Shortfall Payment”).

  • Where the Guarantee Period is deferred to the first day of the Fiscal Year, an equitable adjustment to the Annual Guaranteed Savings and Total Guaranteed Savings shall be mutually agreed to between the Parties.

  • The Parties acknowledge and agree that the Annual Guaranteed Savings and Total Guaranteed Savings set forth on Schedule C (Energy Savings Guarantee) cannot be realized and maintained unless certain ongoing procedures and methods of operation designed for energy conservation (collective known as “ECM Service Responsibilities”) are implemented and followed by the PEA, PMA and the City, on a regular and continuous basis, and by ESCO as required by this Agreement.

  • The Parties further acknowledge and agree that PEA is relying upon the ESCO’s skill, knowledge, professional training, and experience to develop a program for Selected ECM service that it can utilize to realize said Annual Guaranteed Savings and Total Guaranteed Savings during the Guarantee Period.

Related to Annual Guaranteed Savings

  • Guaranteed Sum means: The maximum aggregate amount of R

  • Performance Guarantee means the security to be provided by the Contractor in accordance with Sub Clause 10.1 for the due performance of the Contract.

  • Non-Guaranteed Elements means the premiums, credited interest rates (including any bonus), benefits, values, dividends, non-interest based credits, charges or elements of formulas used to determine any of these, that are subject to company discretion and are not guaranteed at issue. An element is considered non-guaranteed if any of the underlying non-guaranteed elements are used in its calculation.

  • Guaranty means, with respect to any Person, any obligation (except the endorsement in the ordinary course of business of negotiable instruments for deposit or collection) of such Person guaranteeing or in effect guaranteeing any indebtedness, dividend or other obligation of any other Person in any manner, whether directly or indirectly, including (without limitation) obligations incurred through an agreement, contingent or otherwise, by such Person:

  • Guaranteed Obligations has the meaning set forth in Section 11.01.

  • Guaranteed Maximum Price or “GMP” means the amount proposed by Contractor and accepted by Owner as the maximum cost to Owner for construction of the Project in accordance with this Agreement. The GMP includes Contractor’s Construction Phase Fee, the General Conditions Cost, the Cost of the Work, and Contractor’s Contingency amount.