Heat Rate Call Option definition
Heat Rate Call Option means the CS Heat Rate Call Option Agreement or a heat rate call option or similar contractual arrangement, in form and substance substantially similar to the CS Heat Rate Call Option Agreement, pursuant to which the Borrower grants a Heat Rate Call Option Counterparty the right, but not the obligation, to call on the Borrower to supply a defined amount of energy at an indexed fuel price multiplied times an agreed, or “strike”, heat rate, which contract shall be settled financially by way of a net payment on a basis not less frequently than every 30 days, and pursuant to which the Heat Rate Call Option Counterparty shall not take physical delivery of energy.