Damage Payment definition

Damage Payment means (a) the dollar amount equal to the amount to be posted as Project Development Security pursuant to Section 8.4(a)(i) hereof.

Split View

AI-Powered Contracts

Draft, Review & Redline at the Speed of AI

Get StartedSchedule a Demo

Damage Payment means the dollar amount that equals the amount of the Development Security.

Damage Payment means the dollar amount equal to the amount to be posted as Project Development Security pursuant to Section 8.4(a)(i) hereof.

Examples of Damage Payment in a sentence

• Notwithstanding any other provision of this Agreement, Seller’s aggregate liability under or arising out of a termination of this Agreement prior to the Commercial Operation Date shall be limited to an amount equal to the Damage Payment.

• Notwithstanding the foregoing, the occurrence and continuation of a Force Majeure Event shall not (a) suspend or excuse the obligation of a Party to make any payments due hereunder, (b) suspend or excuse the obligation of Seller to achieve the Guaranteed Commercial Operation Date beyond the extensions provided in Exhibit B, or (c) limit Buyer’s right to declare an Event of Default pursuant to Section 11.1(b)(ii) and receive a Damage Payment upon exercise of ▇▇▇▇▇’s rights pursuant to Section 11.2.

• As soon as practicable after a Terminated Transaction, Notice shall be given by the Non-Defaulting Party to the Defaulting Party of the amount of the Damage Payment or Termination Payment and whether the Termination Payment is due to or from the Non-Defaulting Party.

More Definitions of Damage Payment

Damage Payment means the dollar amount equal to the amount initially posted as Project Development Security pursuant to Section 8.4(a).

Damage Payment means the amount to be paid by the Defaulting Party to the Non- Defaulting Party after a Terminated Transaction occurring prior to the Commercial Operation Date, in a dollar amount as set forth in Section 11.3(a).

Damage Payment means [for a ten year Delivery Term the dollar amount that equals six (6) months minimum expected revenue of the Project based on Guaranteed Energy Production and the estimated average TOD-adjusted Contract Price, which will be calculated prior to the Execution Date] [for a fifteen year Delivery Term the dollar amount that equals nine (9) months minimum expected revenue of the Project based on Guaranteed Energy Production and the estimated average TOD-adjusted Contract Price, which will be calculated prior to the Execution Date] [for a twenty year or greater Delivery Term the dollar amount that equals twelve (12) months minimum expected revenue of the Project based on Guaranteed Energy Production and the estimated average TOD-adjusted Contract Price, which will be calculated prior to the Execution Date]. [Select bracketed language appropriate for the length of the Delivery Term]

Damage Payment means the amount to be paid by the ESSA Defaulting Party to the ESSA Non-Defaulting Party after a Terminated Transaction occurring prior to the Commercial Operation Date, in a dollar amount set forth in Section 11.3(a) of the ESSA.

Damage Payment means a liquidated damages payment in the amount indicated in the Cover Sheet.

Damage Payment means [for a ten year Delivery Term the dollar amount that equals six (6) months minimum expected revenue of the Project based on Guaranteed Energy Production and the estimated average ▇▇▇-adjusted Contract Price, which will be calculated prior to the Execution Date] [for a fifteen year Delivery Term the dollar amount that equals nine (9) months minimum expected revenue of the Project based on Guaranteed Energy Production and the estimated average ▇▇▇-adjusted Contract Price, which will be calculated prior to the Execution Date] [for a twenty year or greater Delivery Term the dollar amount that equals twelve (12) months minimum expected revenue of the Project based on Guaranteed Energy Production and the estimated average ▇▇▇-adjusted Contract Price, which will be calculated prior to the Execution Date]. [Select bracketed language appropriate for the length of the Delivery Term]

Damage Payment means the dollar amount that is equal to the Development Security amount required hereunder.