Storage Power Capacity Guarantee definition
Examples of Storage Power Capacity Guarantee in a sentence
Each Party acknowledges and agrees that: (a) the damages PacifiCorp would incur due to Seller’s failure to satisfy the Storage Power Capacity Guarantee is difficult or impossible to predict with certainty; (b) it is impractical and difficult to assess actual damages in these circumstances; and, therefore, (c) Storage Power Capacity Damages as agreed to by the Parties are a fair and reasonable calculation of damages and not a penalty.
Seller will provide notice to PacifiCorp stating when Seller believes that the Storage Facility has achieved Commercial Operation in accordance with the requirements of the definition of Commercial Operation, which notice will include the Storage Power Capacity Rating of the Storage Facility (which will not be less than the Storage Power Capacity Guarantee) and the documentation required in the definition of Commercial Operation.
Notwithstanding anything to the contrary contained in this Section 6.1, in no event will PacifiCorp be required to pay Seller based on any Storage Power Capacity Rating or to purchase any Storage Energy Capacity, in each case, above the Storage Power Capacity Guarantee as a result of any such modification to the Storage Facility.
If Seller fails to satisfy the Storage Power Capacity Guarantee in accordance with the requirements set forth in Exhibit T, then Seller will be liable to PacifiCorp for the Storage Power Capacity Damages calculated and paid in accordance with Exhibit T.
Except in the case of an Event of Default pursuant to Section 11.1.2(j), Storage Power Capacity Damages and any reduction in the payment to Seller pursuant to Section 5.1.2(c) (based on the Storage Power Capacity Rating being less than the Storage Power Capacity Guarantee), will be PacifiCorp’s sole remedy for Seller’s failure to satisfy the Storage Power Capacity Guarantee in accordance with the requirements set forth in Exhibit T.