Compliance Cap definition

Compliance Cap means, with respect to each Contract Year, an amount equal to the product of USD $1.75 (increased by one percent (1.0%) for each Contract Year after the first Contract Year), and the total number of MWh comprising the Annual Supply Amount during such year, provided that under no circumstances shall such amount be less than One Hundred Twenty Four Thousand Nine Hundred and No/100 Dollars ($124,900). For purposes of the Stub Period, the Compliance Cap shall be prorated by multiplying the Compliance Cap for the first Contract Year by a fraction, the numerator of which is the number of full calendar months during the Stub Period and the denominator of which is 12.
View Source
Compliance Cap shall have the meaning set forth in Section 7.3(A).
View Source

Examples of Compliance Cap in a sentence

  • Within thirty (30) Days of the delivery of such notice with the estimate and reasonable supporting materials, EPE shall provide Seller notice of (I) EPE’s request for Seller to incur costs in excess of the Compliance Cap, in which case EPE shall reimburse Seller for such excess costs, or (II) EPE’s waiver of Seller’s performance of such actions.

  • No later than sixty (60) Days after Seller becomes aware the actions to ensure eligibility will cause it to incur costs in excess of the Compliance Cap, Seller shall provide to EPE notice with an estimate of the expected costs caused by the eligibility actions, along with reasonable supporting documentation.

Related to Compliance Cap

  • Compliance Costs means all reasonable out-of-pocket costs and expenses incurred by Seller and paid directly to third parties in connection with any of the obligations under Sections 3.1(j) (Greenhouse Gas Emissions Reporting), 3.1(k) (WREGIS), 3.1(n) (Obtaining and Maintaining CEC Certification and Verification), 3.3 (Resource Adequacy), 3.4(b) (EIRP Requirements), and 10.2(b) (ERR), including registration fees, volumetric fees, license renewal fees, external consultant fees and capital costs necessary for compliance, but excluding Seller's internal administrative and staffing costs, due to a change, amendment, enactment or repeal of Law after the Execution Date which requires Seller to incur additional costs and expenses in connection with any of such obligations, in excess of the costs and expenses incurred for such obligations under the Law in effect as of the Execution Date. Compliance Costs do not include any amounts designated in the Project’s full capacity deliverability study to obtain FCDS nor any costs and expenses incurred by Seller for FCDS studies.

  • Compliance year means the calendar year beginning with June 1 and ending with May 31 of the following year, for which a Retail Electricity Supplier must demonstrate that it has met the requirements of this Regulation.

  • Compliance Period means a period of time that the Development shall conform to all set-aside requirements as described further in the rule chapter and agreed to by the Applicant in the Application.

  • Compliance cycle means the nine-year calendar year cycle during which public water systems must monitor. Each compliance cycle consists of three three-year compliance periods. The first calendar year cycle begins January 1, 1993 and ends December 31, 2001; the second begins January 1, 2002 and ends

  • Compliance Audit means the procedure (in a form advised by the GLA from time to time) by which an auditor independent of the Grant Recipient certifies (at the Grant Recipient's cost) whether the Named Projects developed or Rehabilitated pursuant to this Agreement satisfy the GLA's procedural compliance requirements (as described in the Affordable Housing Capital Funding Guide);