Daily Delay Damages definition

Daily Delay Damages means with respect to a Guaranteed Project Milestone, an amount equal to (a) the Project Development Security Amount posted as of the first date that Daily Delay Damages are payable under this Agreement with respect to such Guaranteed Project Milestone, divided by (b) 120.

Daily Delay Damages. Shall have the meaning set forth in Section 13.4(a) (Daily Delay Damages) of this Agreement.

Daily Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b) one hundred twenty (120).

Examples of Daily Delay Damages in a sentence

• Except to the extent Buyer may be entitled to Daily Delay Damages under Section 2.10.1, if this Agreement is terminated by Buyer under this Section 21.3, then within five (5) days following such termination, Buyer shall return to Seller any and all Letters of Credit, cash deposit, or any other forms of security or credit support previously provided by Seller and held at that time by Buyer.

• In the event Seller incurs Daily Delay Damages pursuant to Section 2.10.1, then Buyer may draw on any undrawn portion of any outstanding Letter of Credit upon submission to the bank issuing such Letter of Credit one or more certificates specifying that such Daily Delay Damages have been incurred.

• If Seller fails to timely pay any Daily Delay Damages or Commercial Operation Delay Damages, Buyer may draw upon the Development Security to satisfy Seller’s payment obligation thereof.

• Buyer shall be entitled to draw upon the Project Development Security posted by Seller for Daily Delay Damages until such time as the Project Development Security is exhausted.

• Buyer shall be entitled to recover the Daily Delay Damages owed by Seller from the Construction Period Security held by Buyer.

More Definitions of Daily Delay Damages

Daily Delay Damages means with respect to the Guaranteed Commercial Operation Date, an amount equal to (a) divided by (b), where (a) is $60/kW multiplied by the Contract Capacity of the Project as reflected in Section B of the Cover Sheet, and (b) is the number 180.

Daily Delay Damages has the meaning set forth in Section 11.6(a)(i).

Daily Delay Damages means an amount equal to (a) the Development Security amount required hereunder, divided by (b)

Daily Delay Damages means an amount equal to (a) the Construction Period Security amount required hereunder, divided by (b) the number of days in the Project Cure Period.

Daily Delay Damages for each Day shall be the positive number (and if not a positive number, zero) equal to the sum for all hours of the Day of the product for each hour of the Day of

Daily Delay Damages for each Day shall be equal to the product of (1) the Dow JonesTM Palo Verde Electricity Price Index for such Day, expressed in $/MWh, multiplied by (2) the applicable hourly scalar set forth in Exhibit D for the applicable hour in the daily (i) firm on- peak, (ii) firm off-peak or (iii) 24-hour firm (on Sundays and NERC holidays) Dow JonesTM Palo Verde Electricity Price Index (each such hour, the “Applicable Hour”) during such Day, multiplied by (3) the loss factor of 1.112, plus (4) the basis of $13/MWh for each Applicable Hour or portion thereof during such Day. If the Dow JonesTM Palo Verde Electricity Price Index ceases to be published during the Term, Buyer shall select as a replacement electricity price index or component, an index acceptable to Buyer in its discretion that, after any necessary adjustments, provides the most reasonable substitute quotation of the daily price of firm on-peak, firm off-peak or 24-hour firm energy at Palo Verde for the applicable periods.

Daily Delay Damages means liquidated damages paid by Seller to Buyer in the amount of $[XX,XXX] per day for each day of delay in the months of June, July, August and September and $[XX,XXX] per day for each day of delay in the other months of the year. [NOTE to Bidders: this is the total security required during development divided by the number of days in the Cure Period]