Refund Excess definition

Refund Excess means the amount, if any, by which the funds deposited in the Settling Supplier Refund Escrow for refunds and interest to Non-Settling Participants based on the Allocation Matrix exceeds the amounts needed to satisfy all refund awards made to Non-Settling Participants for any particular period, e.g., the Pre- October Period, the Pre-January 18, 2001 Period, or the Post-January 17, 2001 Period, as determined by FERC in the FERC Refund Determination and the FERC Interest Determination.
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Refund Excess means the amount, if any, by which the funds deposited in the Reliant Refund Escrow for refunds to Non-Settling Participants based on the FERC Refund Allocation Matrix, exceed the amounts needed to satisfy all refund awards made to Non-Settling Participants for any particular period, e.g. the Pre-October Period, the Pre-January 18, 2001 Period, or the Post-January 17, 2001 Period, as determined by FERC.
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Refund Excess shall have the meaning set forth in Section 5.6.1.
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Examples of Refund Excess in a sentence

  • The California Utilities shall be entitled to payment of any Refund Excess or Receivables Excess allocated to the Pre-January 18, 2001 Period.

  • The California Utilities shall be entitled to payment of any Refund Excess or Receivables Excess allocated to the Pre-October Period.

  • The California Utilities, and not Settling Supplier, shall be entitled to payment, by the ISO and/or PX as appropriate, of any Refund Excess or Receivables Excess allocated to such period.

  • Any such change in the Receivables Shortfall, Receivables Excess, Refund Shortfall, or Refund Excess pursuant to such a true-up shall benefit, or be the responsibility of, the California Parties.

  • Any refund of interest or surcharge allocated to the Settling Supplier pursuant to such a true-up shall benefit, or be the responsibility of, the California Parties and shall be treated as a Refund Shortfall or Refund Excess in accordance with the terms of Section 5.6.

  • None of the Mirant Parties, including MAEM, shall be responsible to Settling Participants or to Non-Settling Participants for a Receivables Shortfall or a Refund Shortfall relating to the Pre-January 18 Period or Post-January 17 Period, and the Mirant Parties shall not be entitled to claim any interest or right to a Receivables Excess or a Refund Excess relating to the Pre-January 18 Period or Post-January 17 Period.

  • Except with respect to the January PX Transactions, which shall be governed by Section 6.6.5.1, CERS shall be responsible for any Refund Shortfall or Receivables Shortfall allocated to the Post-January 17 Period, and shall be entitled to payment of any Refund Excess or Receivables Excess allocated to the Post-January 17 Period.

  • The California Utilities, and not Settling Supplier, shall be entitled to payment of any Refund Excess or Receivables Excess allocated to the Pre-January 18, 2001 Period.

  • The California Utilities shall be entitled to payment of any Refund Excess or Receivables Excess allocated to the Pre-January 18 Period and January PX Transactions.


More Definitions of Refund Excess

Refund Excess means the amount, if any, by which the funds deposited in the Settling Supplier Refund Escrow (PNM) for refunds and interest to Non-Settling Participants based on the Allocation Matrix exceeds the amounts needed to satisfy all refund awards made to Non-Settling Participants for any particular period, e.g., the Pre-October Period, the Pre-January 18, 2001 Period, or the Post-January 17, 2001 Period, as determined by FERC in the FERC Refund Determination and the FERC Interest Determination. To the extent that a shortfall is created by the difference between (i) the actual amount of interest earned on the Cash Consideration during the period from the date such Cash Consideration was transferred by Settling Supplier to the Settling Supplier Refund Escrow and the Settlement Effective Date, and (ii) the amount of interest that would have been earned on the Cash Consideration during such period at the FERC Interest Rate, such shortfall shall be allocated to all Settling Participants pro rata (that is, in relation to the total refunds allocated to each Settling Participant in the Allocation Matrix). If, as a result of an order by a court of appeals that is no longer subject to appeal or a FERC order on remand of such court order, the FERC Receivables Determination and/or the FERC Refund Determination is/are changed in a way that increases or decreases the amount of the Receivables Shortfall, Receivables Excess, Refund Shortfall, or Refund Excess as determined above, there shall be a true-up for such change by way of refund or surcharge (or debit or credit to the applicable ISO or PX account), as appropriate, with interest at the FERC Interest Rate or such other rate as FERC may determine to be applicable, to give full effect to the change from the FERC Receivables Determination and/or the FERC Refund Determination. Any such change in the Receivables Shortfall, Receivables Excess, Refund Shortfall, or Refund Excess pursuant to such a true-up shall benefit, or be the responsibility of, the California Parties.
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