Performance Force Majeure definition

Performance Force Majeure means any of the following events that result in a decline in the net present value of the proposed expansions, based on the assumptions contained in the confidential analysis of the proposed expansions provided to the Parties pursuant to paragraph 3(d) hereof, such that on any date thereafter the net present value of the addition of either of the 11 megawatt heat recovery units is less than $3.4 million or the net present value of the addition of the 25 megawatts of new generation is less than $10 million caused by: (A) a material decrease in MEHC’s reasonable forecast of future energy prices that would be applicable to the proposed expansions, (B) a material increase in interest rates, (C) any material increase in the cost of metals or other consumables necessary for the construction and operation of the proposed expansions, (D) a material change in the availability of the federal production tax credit with respect to the proposed expansions, (E) a material change in the availability of federal tax depreciation with respect to the proposed expansions and
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Examples of Performance Force Majeure in a sentence

  • PacifiCorp shall be excused, released and discharged from performance of its obligations related to the applicable expansion of the capacity of the Blundell steam plant upon the occurence of an event of Performance Force Majeure.

  • If an event of Delay Force Majeure or Performance Force Majeure occurs, PacifiCorp shall promptly provide written notice to the other Parties of the occurrence and nature of such event.

  • Subject to Section 2.7 (Excused Performance; Force Majeure), Contributor will deliver the Support Functions, in accordance with the Service Levels.

  • Coverage Policy Limits Excuse of Performance (Force Majeure): The performance of the Agreement, except for the payment of money for services already ren- dered, may be suspended by either party in the event performance of the Agreement is prevented by a cause or causes beyond the rea- sonable control of such parties.