Term Year definition

Term Year means a 12-month period beginning on the first day of the Term and each successive 12-month period thereafter.

Term Year means each annual period beginning on the Effective Date (as defined in Section 9 hereof) or anniversary thereof, and ending on the day prior to the anniversary of the Effective Date.

Term Year means a twelve (12) month period beginning on the first day of the calendar month following Initial Operation and each successive twelve (12) month period thereafter.

Examples of Term Year in a sentence

• This price is determined by dividing the total cost for delivered electricity, including all charges associated with such electricity howsoever named, including, without limitation, charges for distribution, transmission, demand, and systems benefits, paid to the Local Electric Utility during the applicable Term Year by the total amount of delivered electricity by the electric utility during such Term Year.

• AE = Actual Electricity, as measured in total kWh, delivered by the System for the Term Year plus the estimated lost energy production during a Disruption Period.

• If the System fails to generate at least ninety-five percent (95%) of the Estimated Annual Production for a full Term Year (such amount, the “Minimum Guaranteed Output”), other than as a result of the acts or omissions of Purchaser or the Local Electric Utility (including a Disruption Period), or an Event of Force Majeure, Provider shall credit Purchaser an amount equal to Purchaser’s Lost Savings on the next invoice or invoices during the following Term Year.

• The formula for calculating Lost Savings for the applicable Term Year is as follows: Lost Savings = (MGO*WPR - AE) x RV MGO = Minimum Guaranteed Output, as measured in total kWh, for the System for the applicable Term Year.

• RV = (ATP - kWh Rate) ATP = Average tariff price, measured in $/kWh, for the Term Year paid by Purchaser with respect to the Premises.

More Definitions of Term Year

Term Year means a twelve (12) month period beginning on Initial Delivery Date and each successive twelve (12) month period thereafter.

Term Year means a twelve (12) month period beginning on the first day of the calendar month following the Term Start Date and each successive twelve (12) month period thereafter.

Term Year wherever used herein earlier means financial year.

Term Year means any calendar year during the Term of this Agreement beginning January 1 and ending December 31, except that the first Term Year shall mean the period beginning on the Effective Date of this Agreement and ending on December 31 of the next calendar year.

Term Year means a twelve (12) month period beginning on the Commercial Operation Date and each successive twelve (12) month period thereafter.

Term Year means each one (1) year period commencing from the first day of the calendar month immediately after the Effective Date.

Term Year means (i) if the Closing Date occurs on the first day of a calendar month, the 12-month period beginning on the Closing Date or (ii) if the Closing Date does not occur on the first day of a calendar month, the period from the Closing Date through the 12-month anniversary of the end of the calendar month in which the Closing Date occurred and, in either case of clause (i) or (ii), each succeeding 12-month period and in any case ending on the End Date.