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.

Related to Performance Force Majeure

  • Performance Objectives means the measurable performance objective or objectives established by the Committee pursuant to the Plan. Any Performance Objectives may relate to the performance of the Company or one or more of its Subsidiaries, divisions, departments, units, functions, partnerships, joint ventures or minority investments, product lines or products, or the performance of the individual Participant, and may include, without limitation, the Performance Objectives set forth in Section 14(b). The Performance Objectives may be made relative to the performance of a group of comparable companies, or published or special index that the Committee, in its sole discretion, deems appropriate, or the Company may select Performance Objectives as compared to various stock market indices. Performance Objectives may be stated as a combination of the listed factors.

  • Force Majeure means an event beyond the control of the supplier and not involving the supplier’s fault or negligence and not foreseeable. Such events may include, but is not restricted to, acts of the purchaser in its sovereign capacity, wars or revolutions, fires, floods, epidemics, quarantine restrictions and freight embargoes.

  • Performance Objective means a standard established by the Committee to determine in whole or in part whether a Performance Award shall be earned.

  • Performance Indicator means a measure of HSP performance for which a Performance Target is set; technical specifications of specific Performance Indicators can be found in the MSAA Indicator Technical Specifications document;

  • Performance Cycle means one or more periods of time, which may be of varying and overlapping durations, as the Administrator may select, over which the attainment of one or more Performance Criteria will be measured for the purpose of determining a grantee’s right to and the payment of a Restricted Stock Award, Restricted Stock Units, Performance Share Award or Cash-Based Award, the vesting and/or payment of which is subject to the attainment of one or more Performance Goals. Each such period shall not be less than 12 months.