Base Residual definition

Base Residual means the lowest of (i) the Contract Residual, (ii) the ALG Residual, and (iii) the MRM Residual.

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Base Residual means the lowest of (i) the ALG Residual (“ALG Residual”) established in [ ] 20[ ] as a “mark-to-market” value,

Base Residual means, with respect to any Equipment, (i) in the case of a Lease that was not terminated prior to its Expiration Date, the greater of (A) NFS’s actual Booked Residual for such Equipment in connection with such Lease or (B) twenty percent (20%) of the Original Equipment Cost for such Equipment, and (ii) in the case of a Lease that has been terminated prior to its Expiration Date, the greater of (A) the amount that is due to NFS from the Lessee with respect to such Equipment upon such termination or (B) twenty percent (20%) of the Original Equipment Cost for such Equipment.

Examples of Base Residual in a sentence

• If the FRR Entity is not responsible for all load within a Zone, the Preliminary Forecast Peak Load for such entity shall be the FRR Entity’s Obligation Peak Load last determined prior to the Base Residual Auction for such Delivery Year, times the Base FRR Scaling Factor (as determined in accordance with Reliability Assurance Agreement, Schedule 8.1).

• If the FRR Entity is not responsible for all load within a Zone, the Preliminary Forecast Peak Load for such entity shall be the FRR Entity’s Obligation Peak Load last determined prior to the Base Residual Auction for such Delivery Year, times the Base FRR Scaling Factor (as determined in accordance with Schedule 8.1).

• No later than one month before such Base Residual Auction, such Party shall submit its FRR Capacity Plan demonstrating its commitment of Capacity Resources for the term of such election sufficient to meet such Party’s Daily Unforced Capacity Obligation (and all other applicable obligations under this Schedule) for the load identified in such plan.

• Base Residual Auction shall have the same meaning as in Attachment DD to the PJM Tariff.

• Each FRR Entity shall submit its initial FRR Capacity Plan as required by subsection C.1 of this Schedule, and shall annually extend and update such plan by no later than one month prior to the Base Residual Auction for each succeeding Delivery Year in such plan.

• FZPLDY = Final Zonal Peak Load Forecast for such Delivery Year; and FZWNSP = Zonal Weather-Normalized Peak Load for the summer concluding prior to the commencement of such Delivery Year; And where the PRD registration is associated with a sub-Zone, the Share of the Nominal PRD Value Committed in Base Residual Auction or Third Incremental Auction will be based on the Nominal PRD Values committed and registered in a sub-Zone.

• A Party obligated to pay a Locational Reliability Charge for a Delivery Year may partially or wholly offset amounts it must pay for such charge by offering Capacity Resources for sale in the Base Residual Auction or an Incremental Auction applicable to such Delivery Year; provided such resources clear such auctions.

• Such a Party may choose to nominate a resource in the Base Residual Auction as Self-Supply, may choose to designate a price offer for such resource into any such auction, or may indicate in its offer that it wishes to commit such resource regardless of the clearing price, in which case the Party shall receive the marginal value of system capacity and the price adders for any applicable binding locational constraint in accordance with Attachment DD of the PJM Tariff.

• For the 2022/2023 Delivery Year and subsequent Delivery Years, the factor equal to FZWNSP/FZPLDY is eliminated in the calculation of the LSE PRD Credit Where: Share of Zonal Nominal PRD Value Committed in Base Residual Auction = Nominal PRD Value for such registration/Total Zonal Nominal PRD Value of all Price Responsive Demand registered by the PRD Provider of such registration *Zonal Nominal PRD Value committed in the Base Residual Auction by the PRD Provider of such registration .

• In addition, such Parties recognize that they may receive an allocation of Capacity Transfer Rights which may offset a portion of the Locational Reliability Charge, and that they may offset a portion of the Locational Reliability Charge by offering and clearing Qualifying Transmission Upgrades in the Base Residual Auction.

More Definitions of Base Residual

Base Residual means, for each Leased Vehicle related to an Included Unit, the lesser of (a) the residual value established by the Automotive Lease Guide at the time of origination of the related Lease or (b) the Stated Residual Value of the related Vehicle.

Base Residual means the lowest of (i) the ALG Residual (“ALG Residual”) established in November-December 2023 as a