LRP Resource definition

LRP Resource means the aggregate of the Resources (including Emergency Generators) that are able to reduce load as requested by the ISO within 30 minutes or less in accordance with the LRP as defined in Manual M-LRP and identified in Schedule IV hereto. The LRP Resource must enroll in a LRP providing ICAP credit in order to provide the services contemplated in this Agreement.
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Examples of LRP Resource in a sentence

  • The monthly Supplemental Capacity Payment for the LRP Resource will commence on the first day of the month following the Service Date and will be equal to the Contract ICAP Price (for the preceding month) multiplied by the ICAP Credit Amount (for the preceding month).

  • The Supplemental Capacity Payment will not be reduced for any other non-ICAP payments that the LRP Resource may earn.

  • Supplier shall operate and maintain, or cause the operation and maintenance of the LRP Resource to be in accordance with Market Rule 1 and the NEPOOL Manuals.

  • This Agreement imposes requirements on Supplier with regard to the delivery of the LRP Resource as provided below.

  • The ISO in its sole discretion may initiate whatever audits, tests or other measures are necessary to determine the actual performance of the LRP Resource and its ability to continue to perform and has the authority to adjust the ICAP Credit Amount to recognize the results of its investigation.

  • The Parties agree that it will be impractical and extremely difficult to determine the actual damages, which ISO will sustain in the event Supplier fails to make the LRP Resource available pursuant to Section 2.5. Accordingly, the Parties acknowledge and agree that the ISO shall be entitled, in addition to any other available remedies, to liquidated damages set forth in Section 2.5 as a reasonable pre-estimate of the probable losses and damages to be sustained by the ISO in such circumstances.

  • Supplier will use commercially reasonable efforts to make the LRP Resource available to respond to the ISO’s instructions in accordance with Market Rule 1 and the NEPOOL Manuals by the Proposed Service Date including obtaining all necessary regulatory authorizations and environmental permits.

  • In the event that a Force Majeure Event prevents the LRP Resource from being available to the ISO for a period in excess of sixty (60) consecutive days (the “Unavailability Period”), the ISO, in its sole discretion, may terminate this Agreement by providing five (5) days notice to Supplier declaring the ISO’s intention to terminate this Agreement; provided, however, that for purposes of its right to terminate this Agreement, the ISO may extend the Unavailability Period in its sole discretion.

  • From and after the first day of the month following the Service Date, the ISO, as agent for the Market Participants, shall apportion, ▇▇▇▇ and collect from the Market Participants payments and charges for delivery or non-delivery of services from the LRP Resource in the LRP Market in accordance with this Agreement, Market Rule 1 and the NEPOOL Manuals.

  • Supplier may request (in writing) a Supplier initiated demonstration of the LRP Resource (the “Audit”).