Definition of Power Purchasing Agreement


Power Purchasing Agreement means the associated agreement stipulating the arrangements for the supply of electricity generated by the Project to the NDMC and the purchase of that electricity by the NDMC required for the effective performance of this Agreement. "Owner (and/or Lessor") is the local government unit providing land for the project. "Plant" shall have the meaning ascribed to the said term in Recital C; "NDMC Event of Default" shall have the meaning ascribed to the said term in Article 12.1.2; "NDMC Preliminary Notice" shall have the meaning ascribed to the said term in Article 12.2.1 (b); "NDMC Proposal to Rectify" shall have the meaning ascribed to the said term in Article 12.2.2 (b); "Preliminary Notice" shall have the meaning ascribed to the said terms in Article 12.2.1 (b)& 12.2.2(b); "Project" shall mean design, financing, construction, operation and maintenance of the Plant in accordance with the provisions of this Agreement; "Readiness Certificate" shall mean the certificate issued by the Concessionaire certifying, inter alia, that, the Concessionaire has constructed all the facilities within the Plant and obtained all the necessary approvals so as to enable receipt of MSW WASTE for processing. "Receipt Point" shall mean the place of delivery within the Plant Site, specified in writing by the Concessionaire and marked out on a lay out plan by the Concessionaire, at which place NDMC shall be required to deliver the Assured MSW WASTE in accordance with the terms of this Agreement. "Residual Inert Matter" shall mean the waste matter remained as residue after processing of the MSW WASTE at the Plant; "Rejected Waste" shall mean such components of a consignment of Assured Waste Quality or the Minimum Assured Waste Quantity, as the case may be, as delivered by NDMC and received by the Concessionaire that is refused to be accepted by the Concessionaire as per the provisions of the Agreement. "Scope of Work" shall have the meaning ascribed to the said term in Article 2.3.2; "Tax" shall mean and includes all taxes, fees, ceases, levies that may be payable by the Concessionaire under Applicable Law; "Tipping Fee" is the disposal fee usually charged for the delivery of waste to a waste disposal facility, noting that this fee is NOT charged by the Concessionaire under the terms of this Agreement. "Termination Date" shall mean the date on which this Concession Agreement will be terminated in accordance with this Concession Agreement; "Termination Notice" shall mean the notice of Termination by either Party to the other Party, in accordance with the applicable provisions of this Agreement. "Termination Payment" shall mean the payment to be made by a Party to the other Party in case of termination of this Concession Agreement in terms hereof; "Vacant Possession" means delivery to concessionaire, of possession of the lands constituting the Site and access road to the site free from all Encumbrances and the grant of all rights of access and use and all other rights appurtenant thereto.
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Examples of Power Purchasing Agreement in a sentence

Each of the Power Purchasing Agreement and the UOOMA is in full force and effect.
Key Town Management Issues with Select Board Participation Solar Power Purchasing Agreement: The Select Board expressed strong suppor t for the Power Purchasing Agreement that had been negotiated over the course of a year by the Town with Blue Wave and Smart Energy Capital for the planned solar installation at the Old Landfill.
Amend or modify the Power Purchasing Agreement or the UOOMA in any manner adverse to the Borrower and the Lenders, or grant any waiver or release under (if such amendment, modification or granting shall be materially adverse to the Borrower or the Lenders) or substitute, replace or terminate in any manner, the Power Purchasing Agreement or the UOOMA.
Power Purchasing Agreement (PPA) - A contract between a party that produces electricity for sale and a party that purchases the electricity, as well as any other ancillary services.
Although the IPA has already received preapproval to curtail its 20year renewable energy Power Purchasing Agreement ("PPA"), we urge the IPA to consider alternative means to balance oversupply risk in its portfolio.