Monthly Capacity definition
Examples of Monthly Capacity in a sentence
The Monthly Capacity Fee shall be reduced pro rata the interrupted/reduced capacity and for the term of such interruption/reduction in case of refusal by the Network User of non-compliant Natural Gas.
Seller is not entitled to any Monthly Capacity Payment until Buyer is fully authorized as Scheduling Coordinator for the Generating Facility; provided, however, that Buyer may not take, or not refrain from taking, any action if the result would be to delay such authorization.
Commencing on the last day of the month in which the Commercial Operation Date occurs, Buyer shall, subject to Section 5.1.4, pay to Seller in arrears a Capacity Payment equal to the greater of (i) the Monthly Capacity Payment as determined in Section 5.1.2, or (ii) the Minimum Monthly Capacity Payment as determined in Section 5.1.3.
With respect to any month in which the calculated Monthly Capacity Payment is less than the Minimum Monthly Capacity Payment, the difference between the two payment amounts shall be set forth in a separate account (the amount in such account is referred to herein as the “Capacity Payment Shortfall”).
The Monthly Capacity Payment for the Project payable each month of the Delivery Period shall be determined in accordance with the calculation set forth in Appendix 9.2. For the month in which the Initial Delivery Date occurs, the Monthly Capacity Payment will be prorated for the remaining days of that month.
The Monthly Capacity Fee shall be reduced pro rata the interrupted/reduced capacity and for the term of such interruption/reduction in case of refusal by the Network User of non compliant Natural Gas.
For the last month of the Term, the Monthly Capacity Payment will be prorated for the number of days remaining in the Term.
The Capacity Payment Shortfall shall be increased by interest at the Prime Rate divided by 365 on the maximum amount of the Capacity Payment Shortfall on that day and shall be recovered by Buyer as a credit against the otherwise applicable Monthly Capacity Payment owed to Seller in any following month and by drawing on the Carry-Over-Letter of Credit as provided below.
During each month an MAE Failure occurs, subject to the limitations of the following paragraph, Seller will continue to receive Monthly Capacity Payments for the Firm Contract Capacity based on the Firm Capacity Price and capacity payment calculations for firm capacity as set forth in Section 3 of Exhibit D.
During any month, the “Minimum Monthly Capacity Payment” shall equal the amount determined by the following formula: Minimum Monthly Capacity Payment = CC × 1000 × CPR × [?%], where: CC = the Contract Capacity; CPR = Capacity Payment Rate; and % = [?].