Fixed Capacity definition
Examples of Fixed Capacity in a sentence
If the Supplier elects CES Decommissioning in the CES Election, the Fixed Capacity Payment will be reduced by twenty-five percent (25%) and Monthly Payments will be calculated on that basis for the remainder of the Term starting in the first Settlement Month following the Buyer’s receipt of the CES Election.
Where the TAE Confirmation Notice indicates that the Buyer requires further supporting information determine whether a Tariff Adjustment Event has occurred, acting reasonably, the Supplier shall provide such materials to the Buyer by no later than ten (10) Business Days after its receipt of the TAE Confirmation Notice, failing which, the Buyer’s TAE Confirmation Notice shall be deemed to have rejected the proposed revised Fixed Capacity Payment.
Fixed Capacity Charges will be based on the Contract Capacity in Exhibit B.
Where the Supplier has provided supplemental supporting details in response to the Buyer’s TAE Confirmation Notice enabling the Buyer to verify, acting reasonably, that a Tariff Adjustment Event has occurred, the Buyer shall respond by notice to the Supplier within twenty (20) Business Days to update its TAE Confirmation Notice indicating whether it accepts or rejects the proposed revised Fixed Capacity Payment contained in the Tariff Adjustment Notice.
If the Buyer, in its sole and absolute discretion, rejects the proposed revised Fixed Capacity Payment contained in the Tariff Adjustment Notice, as indicated in the TAE Confirmation Notice, this Agreement shall be automatically terminated without any costs or payments of any kind to either Party and all Completion and Performance Security shall be returned to the Supplier within twenty (20) Business Days of the Buyer’s written notice of termination in the TAE Confirmation Notice.