Examples of Contract Year in a sentence
For the purposes of determining the Indemnity Incident Cap under Clause 11.6.5, the applicable Contract Year shall be the Contract Year in which the relevant incident, event or circumstance begins to occur.
After expiry of the fixed term, the supply of the Services shall (subject to any such termination) continue under this agreement from year to year until terminated by either the Supplier or the Customer on 3 months' prior written notice to the other to expire at the end of the current Contract Year of the term.
For avoidance of doubt, because the Modified Pooled OMC Equipment Availability Factor is calculated over an LD Period of 12 calendar months, the first month for which liquidated damages would be calculated under this Section 2.5(b) (Modified Pooled OMC Equipment Availability Factor Performance Metric and Liquidated Damages) would be the last calendar month of the initial Contract Year.
Following the end of each Contract Year, Company shall calculate the BOP Efficiency Ratio for such Contract Year as follows: BOP Efficiency Ratio = Actual Output (at POI) for such Contract Year Actual Generation at WTGs for such Contract Year Determination of BOP Benchmark.
For each Contract Year, Seller shall achieve a BOP Efficiency Ratio, as calculated as provided in Section 2.7(a) (Calculation of Annual BOP Efficiency Ratio) of this Agreement, of not less than the BOP Benchmark.