Damage Payment definition

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.

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 dollar amount that equals the amount of the Development Security.

Examples of Damage Payment in a sentence

• The Parties agree that the Damage Payment to be paid by Seller for an Event of Default arising under Section 5.1(b)(ii) associated with Seller’s failure to achieve the Guaranteed Commercial Operation Date shall be considered liquidated damages and not a penalty, in accordance with Section 7.1.

• If the Commercial Operation Date occurs after the Guaranteed Commercial Operation Date after giving effect to Permitted Extensions, then Buyer shall be entitled to declare an Event of Default and collect the Damage Payment pursuant to Article Five.

• 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.

• If the Early Termination Date occurs before the Commercial Operation Date, then the Damage Payment shall be calculated in accordance with this Section 11.3(a).

• If the Defaulting Party disputes the Non-Defaulting Party’s calculation of the Termination Payment or Damage Payment, as applicable, in whole or in part, the Defaulting Party shall, within five (5) Business Days of receipt of the Non-Defaulting Party’s calculation of the Termination Payment or Damage Payment, as applicable, provide to the Non-Defaulting Party a detailed written explanation of the basis for such dispute.

More Definitions of Damage Payment

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 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 the dollar amount equal to (a) the amount initially posted as Project Development Security pursuant to Section 8.4(a)(ii), less (b) amounts collected by Buyer as Daily Delay Damages pursuant to Section 3.9(c)(iv).

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 XXX-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 XXX-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 XXX-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 Defaulting Party to the 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).

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

Damage Payment means the dollar amount equal to (a) the amount initially posted as Project Development Security pursuant to Section 8.4(a)(ii) (in the event of Seller’s failure to meet the Guaranteed Construction Start Date) or Section 8.4(a)(iii) (in the event of Seller’s failure to meet the Guaranteed Commercial Operation Date) hereof, less (b) amounts collected by Buyer as Daily Delay Damages pursuant to Section 3.9(c)(iv).