Performance Damages definition

Performance Damages is defined in Exhibit F. “Performance Guarantee” is defined in Exhibit F.

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Performance Damages has the meaning set forth in Section B(2)(b) of this Exhibit F.

Performance Damages means all performance liquidated damages (including the proceeds of any drawings under a performance bond in respect of any performance liquidated damages) payable under any Material Project Agreement.

Examples of Performance Damages in a sentence

• Each Party acknowledges and agrees that: (a) the damages PacifiCorp would incur due to Seller’s failure to satisfy the Performance Guarantee are difficult or impossible to predict with certainty; (b) it is impractical and difficult to assess actual damages in these circumstances; and, therefore, (c) Performance Damages as agreed to by the Parties are a fair and reasonable calculation of damages and not a penalty.

• If the Measurement Period Net Output during any Measurement Period is equal to or greater than the Measurement Period Guaranteed Amount for such Measurement Period, then Seller will not be liable to PacifiCorp for any Performance Damages in respect of such Measurement Period.

• Except in the case of an Event of Default pursuant to Section 11.1.2(i), Performance Damages will be PacifiCorp’s sole remedy for Seller’s failure to satisfy the Performance Guarantee.

• The provisions of Section 10.4 will apply with respect to any dispute Seller may have with respect to PacifiCorp’s invoice of Performance Damages.

• If Seller fails to satisfy the Performance Guarantee in accordance with the requirements set forth in Exhibit F, then Seller will be liable to PacifiCorp for the Performance Damages calculated and paid in accordance with Exhibit F.

• If Seller fails to satisfy the Performance Guarantee for any two (2) consecutive Contract Year Measurement Period, then Seller will include in the report data and information, together with reasonable supporting documentation, required for purposes of calculating Performance Damages.

• The invoice for such Performance Damages will include a written statement explaining in reasonable detail the calculation of such Performance Damages in accordance with Exhibit F.

• If Performance Damages are due pursuant to Section B(2)(b) of this Exhibit F, then thirty (30) days after PacifiCorp receives the report and all data and information, together with reasonable supporting documentation provided for above, PacifiCorp will deliver to Seller an invoice showing PacifiCorp’s computation of the Performance Damages calculated pursuant to Section B(2)(b) of this Exhibit F.

• Any Performance Damages not paid by Seller when due under this Section B(4) will bear interest at the Contract Interest Rate from the date due until but not including the date paid.

More Definitions of Performance Damages

Performance Damages has the meanings specified in Article 7.

Performance Damages means, collectively, the Capacity Shortfall LDs, Capacity Buydown LDs and Warranty LDs, each as defined in the Construction Annex.

Performance Damages means, if any, the performance damages set out in the Particular Conditions which in turn refer to the attached Feasibility Study and Financial Model;